431 N Hanover St · Charleston, SC 29403

$365,000

4 bd · 1.0 ba · 1,741 sqft · SingleFamily public records · 5 Days on market

Built 1935 3,484 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 431 N Hanover Street. .. A place you can put your personal stamp on and call YOURS. Nestled within the progressive end of Downtown Charleston, this home features a charming front porch, a fenced front yard, and more than 1700 square feet of home to redesign to your liking. The property is located near the Arthur Ravenel Bridge, the Charleston Port for commercial cruises, and is walking distance to 45 Romney which has a host of restaurants and bars. Schedule your showing TODAY. .. YOU DON'T WANT TO MISS OUT ON THIS HOME! Home sold AS-IS WHERE IS. Agent is related to the owner.

Key facts

• 3,484 sq ft lot
• Built 1935
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• Cap rate 10.5% vs local median 2.4% in Charleston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#22 in SC, #3,336 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, commute F, cost of living D-.
• Charleston 01 (urban): math 48% / reading 53% proficiency, ranked #7 of 80 in SC (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sanders-Clyde Elementary (math 12% / reading 12%, grade F, #572 of 597 statewide, top 97%, 390 students, 100% FRL); Simmons Pinckney Middle (math 3% / reading 13%, grade F, #226 of 229 statewide, top 99%, 219 students, 100% FRL); Burke High (math 32% / reading 67%, grade D, #151 of 196 statewide, top 79%, 352 students, 100% FRL) — zoned schools average 100% FRL vs 44% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 50% district-wide (-27 pts) — the specific schools serving this property underperform the Charleston 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.6%/yr); 151 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• At $4,324/mo this rent would consume 78% of the median local household income ($67k/yr) (locally 2319% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Charleston County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $102k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $365,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.06%
• DSCR: 1.67
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $981,924
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Poplar St	0.24mi	4/2.0	1,729 (-1%)	3mo	$520,000	$301	81
60 Cypress St	0.39mi	3/2.5 (-1)	1,751 (+1%)	0mo	$1,176,255	$672	70
1130 King St	0.30mi	3/1.5 (-1)	1,583 (-9%)	1mo	$675,000	$426	63
995 Ashley Ave	0.68mi	4/3.5	1,744 (+0%)	1mo	$1,920,000	$1,101	57
16 N Enston Ave	0.46mi	3/1.5 (-1)	1,549 (-11%)	1mo	$1,125,000	$726	52
2 F St	0.72mi	3/2.5 (-1)	1,770 (+2%)	2mo	$875,000	$494	51
152 Grove St	0.73mi	3/2.0 (-1)	1,800 (+3%)	0mo	$1,260,000	$700	51
14 F St Unit B	0.69mi	3/2.5 (-1)	1,676 (-4%)	2mo	$800,000	$477	48
668 Rutledge Ave	0.66mi	3/1.5 (-1)	1,620 (-7%)	3mo	$799,999	$494	48
8 Homel Pl	0.61mi	3/2.5 (-1)	1,936 (+11%)	1mo	$1,505,000	$777	41
6 F St	0.72mi	3/2.5 (-1)	1,553 (-11%)	2mo	$815,000	$525	36
16 Cleveland St #300	0.55mi	3/3.5 (-1)	1,489 (-14%)	2mo	$840,000	$564	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.58% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $2,468
• Equity at exit: $54,423

10-year hold

• IRR: 11.8%
• Equity multiple: 2.00×
• Total profit: $102,331
• Equity at exit: $31,559

Cash invested: $102,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29403

• Rents YoY: 4.6%
• Active inventory: 151
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $4,324 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$152
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$908
• Net cashflow: $856

Break-even live

Break-even rent $3,240

Max offer price $365,000

Occupancy floor 75%

Sensitivity live

Price	-10% $1,063	-5% $960	+0% $856	+5% $753	+10% $650
Rent	-10% $515	-5% $686	+0% $856	+5% $1,027	+10% $1,198
Rate	-1.0pp $1,040	-0.5pp $949	base $856	+0.5pp $762	+1.0pp $666

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Isabella St Unit 30 Charleston, SC	3.0	2.5	1400	$4,150	$2.96	13d	1	0.06mi
87 Romney St Charleston, SC	3.0	2.5	2038	$3,695	$1.81	25d	1	0.20mi
35 Cypress St Charleston, SC	4.0	3.5	2064	$5,900	$2.86	25d	1	0.28mi
1195 King St Charleston, SC	3.0	2.0	1700	$3,700	$2.18	23d	1	0.37mi
1000 King St Charleston, SC	2.0–3.0	1.0–2.0	975	$2,800	$2.87	4d	9	0.46mi
925 Rutledge Ave Charleston, SC	3.0	1.0	1302	$2,800	$2.15	16d	1	0.57mi
6 Maverick St Charleston, SC	4.0	2.0	1170	$3,750	$3.21	4d	1	0.58mi
16 Gordon St Charleston, SC	3.0	1.5	1344	$3,800	$2.83	13d	1	0.62mi
931 Ashley Ave Charleston, SC	3.0	3.0	1794	$4,049	$2.26	4d	1	0.63mi
838 Morrison Dr Charleston, SC	3.0	1.0–2.0	984	$4,929	$5.01	4d	28	0.66mi
40 H St Charleston, SC	3.0	2.0	1317	$3,930	$2.98	16d	1	0.68mi
1 Piedmont Ave Charleston, SC	3.0	3.0	1810	$6,500	$3.59	25d	1	0.69mi
201 Nassau St Charleston, SC	3.0	2.0	1188	$3,800	$3.20	4d	1	0.75mi
6 F St Charleston, SC	3.0	2.5	1553	$5,600	$3.61	25d	1	0.75mi
13 H St Charleston, SC	3.0	2.5	1201	$6,000	$5.00	4d	1	0.75mi
105 Cooper St Charleston, SC	3.0	2.0	1056	$2,750	$2.60	25d	1	0.86mi
73 Cooper St Charleston, SC	3.0	3.0	1450	$6,000	$4.14	25d	1	0.86mi
76 Alberta Ave Charleston, SC	3.0	2.5	1551	$5,730	$3.69	25d	1	0.91mi
18 Line St Unit C Charleston, SC	3.0	2.0	1300	$3,281	$2.52	16d	1	0.93mi
70 Carolina St Unit 301 Charleston, SC	3.0	3.0	1415	$5,400	$3.82	25d	1	0.95mi
272 Coming St Unit C Charleston, SC	3.0	3.5	1514	$5,000	$3.30	25d	1	0.99mi
78 Nassau St Charleston, SC	3.0	2.0	1068	$4,500	$4.21	4d	1	1.00mi
16 Nats Ct Charleston, SC	3.0	2.5	1400	$4,875	$3.48	16d	1	1.08mi
9 Bogard St Apt C Charleston, SC	3.0	2.5	1339	$5,400	$4.03	25d	1	1.10mi
16 Porters Ct Charleston, SC	3.0	2.0	1175	$3,500	$2.98	25d	1	1.13mi
655 E Bay St Charleston, SC	3.0	1.0–2.0	1353	$5,004	$3.70	4d	5	1.15mi
250 Rutledge Ave Unit B Charleston, SC	3.0	2.0	1100	$4,500	$4.09	16d	1	1.18mi
28 Woolfe St Unit 1523764P Charleston, SC	4.0	4.0	1539	$4,100	$2.66	23d	1	1.19mi
28 Woolfe St Unit 1523766P Charleston, SC	3.0	3.0	1356	$3,326	$2.45	16d	1	1.19mi
19 Amherst St Charleston, SC	4.0	2.0	1399	$3,999	$2.86	25d	1	1.20mi
19 Amherst St Unit 1 Charleston, SC	3.0	1.5	1350	$3,299	$2.44	25d	1	1.20mi
49 America St Charleston, SC	4.0	2.0	2180	$6,000	$2.75	23d	1	1.21mi
189 3rd Ave Charleston, SC	3.0	2.0	1420	$5,800	$4.08	13d	1	1.22mi
16 Reid St Unit 1 Charleston, SC	3.0	1.5	1300	$2,999	$2.31	25d	1	1.22mi
61 Reid St Unit C Charleston, SC	4.0	2.5	1654	$6,000	$3.63	23d	1	1.23mi
39 America St Unit A Charleston, SC	3.0	1.0	1200	$2,600	$2.17	25d	1	1.25mi
3 Carrere Ct Charleston, SC	3.0	2.5	1469	$6,000	$4.08	4d	1	1.38mi
45 Morris St Unit A Charleston, SC	3.0	2.5	1449	$5,300	$3.66	4d	1	1.38mi
9 Allway St Charleston, SC	3.0	2.0	1109	$2,700	$2.43	16d	1	1.43mi
1837 Doscher Ave North Charleston, SC	4.0	1.0	1299	$2,000	$1.54	25d	1	1.45mi

Listing history 8 events

1. 2022-11-30
   status Pending
2. 2022-11-21
   status Pending
3. 2022-11-21
   historical
4. 2022-11-18
   status Active
5. 2022-11-14
   status Pending
6. 2022-11-12
   listed $365,000 Active
7. 2015-02-06
   historical
8. 2011-01-21
   listed $90,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $804 · $67/mo
• Projected year-2 tax: $2,080 · $173/mo
• Expected delta: +$1,277/yr (+$106/mo · 158.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,890
• − Mortgage interest: −$20,446
• − Property taxes: −$804
• − Insurance: −$6,944
• − Repairs & maintenance: −$4,151
• − Management: −$4,151
• − Depreciation: −$10,618
• Taxable income: $4,776
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $9,130/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Charleston 01
• NCES district ID: 4501440
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,376
• Composite: 43.41/100
• National rank: #3018
• State rank: #7 of 80 in SC

Livability — Charleston

• Score: 76/100
• State rank: #22
• US rank: #3336

Category grades

Amenities A+ Commute F Cost of living D- Crime D+ Employment A Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, SC
• County: Charleston County · 366,793 people
• City population: 200,573
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 22,533
• Household income: $66,944
• Rent vs Own: 67.1% rent · 32.9% own
• Severe rent burden: 2319.0

Population outlook (Charleston County) Hauer SSP2

• Today (2025): 480,562 people
• By 2030: 525,921 · +9.4%
• By 2040: 612,189 · +27.4%
• By 2050: 691,627 · +43.9%
• By 2075: 847,979 · +76.5%
• By 2100: 926,482 · +92.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (58%)
• Race & ethnicity: White 58% Black 34% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 3% · Canada, Dominican Republic, China
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Charleston

• 2024 margin: Lean D (+5.7) · D 51.9% · R 46.3% · Other 1.8%
• 2008→2024 swing: -2.7pp toward R · 2008: 8.3pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+12.9 2016: D+7.9 2012: D+2.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -471.75%
• Current HPI: 585.4871
• Rent YoY: ▲ 4.58%
• Metro: Charleston-North Charleston, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

+305.6% since first listed

8 events — show timeline

• 2022-11-30 Pending — Charleston Trident MLS
• 2022-11-21 Pending — Charleston Trident MLS
• 2022-11-21 Listing Removed — Charleston Trident MLS
• 2022-11-18 Relisted — Charleston Trident MLS
• 2022-11-14 Pending — Charleston Trident MLS
• 2022-11-12 Listed $365,000 Charleston Trident MLS
• 2015-02-06 Listing Removed — Charleston Trident MLS
• 2011-01-21 Listed $90,000 Charleston Trident MLS

Property tax history

+12.0%/yr

Latest (2020): $804 · +76.0% YoY. Source: county tax records.