2635 S Allen Dr · North Charleston, SC 29405

$245,000

3 bd · 2.0 ba · 1,289 sqft · Other · 32 Days on market

Built 2023 6,098 sqft lot

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Why this score? — see what drove the D 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 +11.6/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +4.1/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New construction under $280k within 5 miles from downtown Charleston, you may not find something like this again. Construction was just finished this month and this cute 3 bed 2 bath home is ready for its new family. Inside you will find a roomy entry with plenty of room for a custom hall tree or entry bench for those shoes and backpacks. With a light and airy open concept living, dining and kitchen, this home is perfect for entertaining family and friends. The kitchen has stainless appliances, granite countertops, and kitchen island with pendant lighting. Beautiful Luxury Vinyl plank floors run continuously through the entire home along with recessed lighting throughout. A corner lot provides a generous space for the kids and pets to roam about. Don't let this one pass you by...

Key facts

• Open floor plan
• Fenced yard
• Island kitchen

Tags

• OPEN FLOOR PLAN
• ISLAND KITCHEN
• GRANITE COUNTERTOPS
• VINYL PLANK FLOORING
• FENCED YARD
• EASY MAINTENANCE VINYL SIDING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer
• Home design: Single family detached home; One story; Ground-level entry
• Construction: No additional structures noted
• Exterior features: Wooden enclosed fence; Architectural roof

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms; Primary bedroom on lower level
• Flooring: Luxury vinyl flooring
• Bathrooms: 2 bathrooms
• Heating & cooling: Heating details: See remarks
• Interior features: Eat-in kitchen; Family room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $245k.

Deal economics

• At list price, monthly cash flow is $-76 ($-907/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (16.4% below list).
• Recommended offer: $205k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.0% in North 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 66/100 on livability (#122 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment C-, crime F, amenities F.
• 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: Montessori Community School (math 67% / reading 77%, grade A-, #26 of 597 statewide, top 5%, 273 students, 24% FRL); Morningside Middle (math 4% / reading 12%, grade F, #226 of 229 statewide, top 99%, 567 students, 100% FRL); North Charleston High (math 27% / reading 57%, grade F, #174 of 196 statewide, top 90%, 768 students, 100% FRL) — zoned schools average 75% FRL vs 44% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 205 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 43% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,749 (16.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.46×
• Total profit: $-37,331
• Equity at exit: $36,530

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-7,122
• Equity at exit: $21,183

Cash invested: $68,600 (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 29405

• Home prices YoY: -29.0%
• Rents YoY: 6.4%
• Active inventory: 205
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,047 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-76

Break-even live

Break-even rent $2,143

Max offer price $234,057

Occupancy floor 99%

Sensitivity live

Price	-10% $94	-5% $9	+0% $-76	+5% $-160	+10% $-245
Rent	-10% $-237	-5% $-156	+0% $-76	+5% $5	+10% $86
Rate	-1.0pp $48	-0.5pp $-13	base $-76	+0.5pp $-139	+1.0pp $-204

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2636 S Allen Dr North Charleston, SC	3.0	2.0	1100	$2,200	$2.00	16d	1	0.06mi
2624 S Allen Dr North Charleston, SC	3.0	2.0	1000	$1,600	$1.60	25d	1	0.07mi
2653 Harvey Ave North Charleston, SC	3.0	1.5	1200	$2,035	$1.70	25d	1	0.10mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	12d	1	0.27mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	25d	1	0.27mi
2136 Commander Rd North Charleston, SC	3.0	2.5	1548	$2,400	$1.55	25d	1	0.38mi
2136 Commander Rd North Charleston, SC	3.0	2.5	1548	$2,400	$1.55	4d	1	0.38mi
2116 Commander Rd North Charleston, SC	3.0	2.0	1050	$2,250	$2.14	4d	1	0.48mi
3119 Azalea Dr North Charleston, SC	2.0	1.0	900	$1,550	$1.72	25d	1	0.56mi
3119 Azalea Dr Unit N North Charleston, SC	2.0	1.0	900	$1,550	$1.72	13d	1	0.56mi
2679 Oregon Ave North Charleston, SC	3.0	2.0	1200	$1,900	$1.58	25d	1	0.58mi
2245 Garfield St North Charleston, SC	3.0	1.0	1035	$1,700	$1.64	25d	1	0.59mi
2245 Fillmore St North Charleston, SC	3.0	2.5	1400	$2,900	$2.07	25d	1	0.63mi
2679 Olympia Ave Unit A North Charleston, SC	3.0	1.0	1100	$1,995	$1.81	25d	1	0.68mi
2645 Oregon Ave North Charleston, SC	3.0	2.0	916	$2,300	$2.51	25d	1	0.69mi
2667 Olympia Ave North Charleston, SC	2.0	2.0	899	$1,500	$1.67	25d	1	0.74mi
3925 Hilda St North Charleston, SC	3.0	1.0	900	$1,700	$1.89	23d	1	0.75mi
1920 McMillan Ave North Charleston, SC	1.0–3.0	1.0	777	$1,550	$1.99	25d	1	0.81mi
2150 Becker St North Charleston, SC	3.0	1.5	1104	$2,000	$1.81	25d	1	0.82mi
2000 Reynolds Ave North Charleston, SC	2.0	2.0	1050	$2,000	$1.90	25d	1	0.84mi
4025 Gary Dr Unit A North Charleston, SC	3.0	1.0	925	$1,600	$1.73	25d	1	0.91mi
4021 Gary Dr North Charleston, SC	2.0	1.0	1400	$1,800	$1.29	25d	1	0.91mi
3891 Four Poles Park Dr North Charleston, SC	3.0	2.5	1392	$2,299	$1.65	4d	1	0.93mi
1905 Grayson St North Charleston, SC	3.0	2.0	1503	$1,863	$1.24	25d	1	0.95mi
2741 Ranger Dr North Charleston, SC	3.0	2.0	1300	$2,300	$1.77	25d	1	0.95mi
2755 Louise Dr North Charleston, SC	3.0	1.0	1025	$1,800	$1.76	25d	1	1.02mi
1901 Success St North Charleston, SC	3.0	2.0	1000	$1,650	$1.65	21d	1	1.05mi
2708 Busch Ave North Charleston, SC	3.0	1.5	1025	$2,100	$2.05	25d	1	1.09mi
1931 Baxter St North Charleston, SC	3.0	1.0	984	$1,550	$1.58	4d	1	1.12mi
2808 Martha Dr North Charleston, SC	3.0	2.0	1025	$2,250	$2.20	25d	1	1.23mi
1941 Clements Ave North Charleston, SC	4.0	2.0	984	$2,200	$2.24	25d	1	1.25mi
1819 English St Unit A North Charleston, SC	2.0	1.0	900	$1,250	$1.39	16d	1	1.31mi

Listing history 21 events

1. 2026-05-01
   status Pending
2. 2026-04-03
   historical Active Under Contract
3. 2026-03-30
   listed $245,000 Active
4. 2023-05-11
   soldstatus $285,000
5. 2023-03-17
   soldstatus $285,000 Closed 790-char remark

   Show marketing remark (790 chars)

   New construction under $280k within 5 miles from downtown Charleston, you may not find something like this again. Construction was just finished this month and this cute 3 bed 2 bath home is ready for its new family. Inside you will find a roomy entry with plenty of room for a custom hall tree or entry bench for those shoes and backpacks. With a light and airy open concept living, dining and kitchen, this home is perfect for entertaining family and friends. The kitchen has stainless appliances, granite countertops, and kitchen island with pendant lighting. Beautiful Luxury Vinyl plank floors run continuously through the entire home along with recessed lighting throughout. A corner lot provides a generous space for the kids and pets to roam about. Don't let this one pass you by...

6. 2023-02-15
   historical Active Under Contract 790-char remark

   Show marketing remark (790 chars)

   New construction under $280k within 5 miles from downtown Charleston, you may not find something like this again. Construction was just finished this month and this cute 3 bed 2 bath home is ready for its new family. Inside you will find a roomy entry with plenty of room for a custom hall tree or entry bench for those shoes and backpacks. With a light and airy open concept living, dining and kitchen, this home is perfect for entertaining family and friends. The kitchen has stainless appliances, granite countertops, and kitchen island with pendant lighting. Beautiful Luxury Vinyl plank floors run continuously through the entire home along with recessed lighting throughout. A corner lot provides a generous space for the kids and pets to roam about. Don't let this one pass you by...

7. 2023-02-09
   listed $279,000 Active 790-char remark

   Show marketing remark (790 chars)

   New construction under $280k within 5 miles from downtown Charleston, you may not find something like this again. Construction was just finished this month and this cute 3 bed 2 bath home is ready for its new family. Inside you will find a roomy entry with plenty of room for a custom hall tree or entry bench for those shoes and backpacks. With a light and airy open concept living, dining and kitchen, this home is perfect for entertaining family and friends. The kitchen has stainless appliances, granite countertops, and kitchen island with pendant lighting. Beautiful Luxury Vinyl plank floors run continuously through the entire home along with recessed lighting throughout. A corner lot provides a generous space for the kids and pets to roam about. Don't let this one pass you by...

8. 2022-08-30
   soldstatus $50,000 Closed 134-char remark

   Show marketing remark (134 chars)

   Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

9. 2022-08-04
   status Pending 134-char remark

   Show marketing remark (134 chars)

   Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

10. 2022-07-28
    price $60,000 134-char remark

    Show marketing remark (134 chars)

    Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

11. 2022-07-28
    status Active 134-char remark

    Show marketing remark (134 chars)

    Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

12. 2022-07-24
    price $40,000 134-char remark

    Show marketing remark (134 chars)

    Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

13. 2022-07-24
    status Pending 134-char remark

    Show marketing remark (134 chars)

    Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

14. 2022-07-20
    listed $60,000 Active 134-char remark

    Show marketing remark (134 chars)

    Welcome to the up and coming neighborhood of Dorchester Terrace!! Bring your builder and customize your dream home of this corner lot!

15. 2009-04-15
    historical
16. 2009-03-13
    listed $15,900
17. 2009-02-23
    historical
18. 2008-09-04
    listed $19,900
19. 2002-08-23
    soldstatus $47,000
20. 2002-08-21
    soldstatus $47,000
21. 2001-09-11
    listed $49,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 17 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: $24,570
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$7,127
• Taxable loss: −$5,112
• Est. tax savings @ 24.0%: +$1,227
• After-tax cash flow: $319/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 — North Charleston

• Score: 66/100
• State rank: #122
• US rank: #12222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Charleston, SC
• County: Charleston County · 366,793 people
• City population: 108,266
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 26,254
• Household income: $56,600
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 1564.0

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 Black (57%)
• Race & ethnicity: Black 57% White 34% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -152.19%
• Current HPI: 372.8886
• Rent YoY: ▲ 6.36%
• 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

+394.9% since first listed

21 events — show timeline

• 2026-05-01 Pending — Charleston Trident MLS
• 2026-04-03 Contingent — Charleston Trident MLS
• 2026-03-30 Listed $245,000 Charleston Trident MLS
• 2023-05-11 Sold (Public Records) $285,000 Public Records
• 2023-03-17 Sold (MLS) $285,000 Charleston Trident MLS
• 2023-02-15 Contingent — Charleston Trident MLS
• 2023-02-09 Listed $279,000 Charleston Trident MLS
• 2022-08-30 Sold (MLS) $50,000 Charleston Trident MLS
• 2022-08-04 Pending — Charleston Trident MLS
• 2022-07-28 Price Changed $60,000 Charleston Trident MLS
• 2022-07-28 Relisted — Charleston Trident MLS
• 2022-07-24 Price Changed $40,000 Charleston Trident MLS
• 2022-07-24 Pending — Charleston Trident MLS
• 2022-07-20 Listed $60,000 Charleston Trident MLS
• 2009-04-15 Listing Removed — Charleston Trident MLS
• 2009-03-13 Listed $15,900 Charleston Trident MLS
• 2009-02-23 Listing Removed — Charleston Trident MLS
• 2008-09-04 Listed $19,900 Charleston Trident MLS
• 2002-08-23 Sold (Public Records) $47,000 Public Records
• 2002-08-21 Sold (MLS) $47,000 Charleston Trident MLS
• 2001-09-11 Listed $49,500 Charleston Trident MLS

Property tax history

+3.5%/yr

Latest (2022): $163 · +0.9% YoY. Source: county tax records.