1 12th Ave · Isle of Palms, SC 29451

$1,800,000

3 bd · 3.0 ba · 1,504 sqft · MultiFamily public records · 115 Days on market

Built 1978 4,356 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 +8.7/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.5/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Legal non conforming triplex. $2100/gross rent per month. Perfect place to build a tall home with views of both Intercoastal Waterway and the Atlantic Ocean. Or keep one apartment for yourself and lease out the others. If square footage is important - MEASURE!!

Key facts

• Triplex bungalow
• Quiet neighborhood
• Grand oaks

Tags

• TRIPLEX BUNGALOW
• INTRACOASTAL WATERWAY
• QUIET NEIGHBORHOOD
• GRAND OAKS

Property features AI

Finance

• Financial info: 3 total units

Exterior

• Parking: Open parking available
• Utilities: Septic tank; Dominion Energy (electric); IOP W/S Comm (water/sewer)
• Home design: Triplex residential income property; Ground-level entry
• Construction: No other structures
• Exterior features: Open parking

Interior

• Kitchen: Disposal; Electric cooktop; Electric range; Electric oven; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 3 bathrooms
• Heating & cooling: Wall unit heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Stacked washer/dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $1.80M.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative. Per door: $-646/mo.
• To cash-flow at today's rent, offer at most $1.46M (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.16M (35.4% below list).
• Recommended offer: $1.16M (35.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#217 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: housing C-, amenities F, commute 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: Sullivan'S Island Elementary (math 88% / reading 81%, grade A+, #2 of 597 statewide, top 0%, 475 students, 9% FRL); Moultrie Middle (math 68% / reading 74%, grade A, #6 of 229 statewide, top 2%, 1,119 students, 22% FRL); Wando High (math 81% / reading 95%, grade A, #6 of 196 statewide, top 3%, 2,596 students, 19% FRL) — zoned schools average 17% FRL vs 44% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 81% at this address vs 50% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the Charleston 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).

Forward outlook

• In year one you build about $136k of equity ($12k loan paydown + $123k appreciation (6.8% local appreciation)).
• Charleston County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$217k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($1.64M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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.
• Current owner paid $375k; list at $1.80M implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,163,100 (35.4% 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 115 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.65% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.60%
• DSCR: 0.84
• GRM: 12.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.97×
• Total profit: $486,780
• Equity at exit: $1,228,603

10-year hold

• IRR: 13.9%
• Equity multiple: 3.99×
• Total profit: $1,507,990
• Equity at exit: $2,317,004

Cash invested: $504,000 (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 29451

• Home prices YoY: 2.0%
• Active inventory: 121
• Price-to-rent: 41.3×

Monthly cashflow live

• Estimated rent: $11,631 medium
• Mortgage (P&I): −$9,439
• Tax from tax record: −$512 /mo · $6,142/yr
• Insurance: −$750
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,443
• Net cashflow: $-1,939

Break-even live

Break-even rent $14,086

Max offer price $1,457,411

Occupancy floor —

Sensitivity live

Price	-10% $-920	-5% $-1,430	+0% $-1,939	+5% $-2,449	+10% $-2,958
Rent	-10% $-2,858	-5% $-2,399	+0% $-1,939	+5% $-1,480	+10% $-1,020
Rate	-1.0pp $-1,033	-0.5pp $-1,482	base $-1,939	+0.5pp $-2,406	+1.0pp $-2,880

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$7,266
1× unit	2	1	$4,365
Total (3 units)			$11,631

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: $450,000
• Closing costs: $54,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 20th Ave Isle of Palms, SC	4.0	3.0	1914	$8,000	$4.18	24d	1	0.31mi

Listing history 24 events

1. 2026-06-18
   days on market $1,800,000 Active 115 DOM
2. 2026-06-17
   days on market $1,800,000 Active 114 DOM
3. 2026-06-16
   days on market $1,800,000 Active 113 DOM
4. 2026-06-15
   days on market $1,800,000 Active 112 DOM
5. 2026-06-10
   days on market $1,800,000 Active 107 DOM
6. 2026-06-09
   days on market $1,800,000 Active 106 DOM
7. 2026-06-08
   days on market $1,800,000 Active 105 DOM
8. 2026-06-07
   days on market $1,800,000 Active 104 DOM
9. 2026-06-05
   days on market $1,800,000 Active 101 DOM
10. 2026-06-03
    days on market $1,800,000 Active 100 DOM
11. 2026-06-01
    days on market $1,800,000 Active 98 DOM
12. 2026-05-31
    days on market $1,800,000 Active 97 DOM
13. 2026-05-21
    price $1,800,000
14. 2026-02-23
    listed $1,850,000 Active
15. 2015-02-06
    historical
16. 2014-08-05
    soldstatus $375,000
17. 2014-07-30
    soldstatus $375,000 261-char remark

    Show marketing remark (261 chars)

    Legal non conforming triplex. $2100/gross rent per month. Perfect place to build a tall home with views of both Intercoastal Waterway and the Atlantic Ocean. Or keep one apartment for yourself and lease out the others. If square footage is important - MEASURE!!

18. 2012-05-08
    historical
19. 2012-05-07
    listed $429,000

    Show marketing remark (261 chars)

    Legal non conforming triplex. $2100/gross rent per month. Perfect place to build a tall home with views of both Intercoastal Waterway and the Atlantic Ocean. Or keep one apartment for yourself and lease out the others. If square footage is important - MEASURE!!

20. 2012-05-07
    listed $399,000 261-char remark

    Show marketing remark (261 chars)

    Legal non conforming triplex. $2100/gross rent per month. Perfect place to build a tall home with views of both Intercoastal Waterway and the Atlantic Ocean. Or keep one apartment for yourself and lease out the others. If square footage is important - MEASURE!!

21. 2007-07-11
    listed $495,000
22. 2006-09-28
    historical
23. 2006-03-13
    listed $900,000
24. 1990-09-07
    soldstatus $233,285

ⓘ 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: $6,142 · $512/mo
• Projected year-2 tax: $10,260 · $855/mo
• Expected delta: +$4,118/yr (+$343/mo · 67.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 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: $139,572
• − Mortgage interest: −$100,828
• − Property taxes: −$6,142
• − Insurance: −$14,118
• − Repairs & maintenance: −$11,166
• − Management: −$11,166
• − Depreciation: −$52,364
• Taxable loss: −$56,212
• Est. tax savings @ 24.0%: +$13,491
• After-tax cash flow: $-9,781/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 — Isle of Palms

• Score: 61/100
• State rank: #217
• US rank: #18296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Isle of Palms, SC
• County: Charleston County · 366,793 people
• City population: 4,362
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 4,362
• Household income: $156,979
• Rent vs Own: 6.5% rent · 93.5% own
• Severe rent burden: 20.0

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: Predominantly White (97%)
• Race & ethnicity: White 97% Asian 2%
• Common ancestry: Lithuanian 5% Slovak 4% Scotch-Irish 2%
• Foreign-born: 7% · China, Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 3% Other Asian/Pacific 3% Spanish 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: ▲ 6.84%
• Current HPI: 348.8655
• Rent YoY: —
• 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

+671.6% since first listed

12 events — show timeline

• 2026-05-21 Price Changed $1,800,000 Charleston Trident MLS
• 2026-02-23 Listed $1,850,000 Charleston Trident MLS
• 2015-02-06 Listing Removed — Charleston Trident MLS
• 2014-08-05 Sold (Public Records) $375,000 Public Records
• 2014-07-30 Sold (MLS) $375,000 Charleston Trident MLS
• 2012-05-08 Listing Removed — Charleston Trident MLS
• 2012-05-07 Listed $399,000 Charleston Trident MLS
• 2012-05-07 Listed $429,000 Charleston Trident MLS
• 2007-07-11 Listed $495,000 Charleston Trident MLS
• 2006-09-28 Listing Removed — Charleston Trident MLS
• 2006-03-13 Listed $900,000 Charleston Trident MLS
• 1990-09-07 Sold (Public Records) $233,285 Public Records

Property tax history

+4.5%/yr

Latest (2022): $6,142 · +1.1% YoY. Source: county tax records.