3930 Azalea Dr Unit X · North Charleston, SC 29405

$160,000

2 bd · 1.0 ba · 798 sqft · Condo public records · 14 Days on market

Built 1966 $210/mo HOA · 12% of rent

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Why this score? — see what drove the C 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Rent growth +4.1/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this fully refreshed, top-floor 2-bedroom, 1-bath condo with a balcony that is conveniently located in the heart of North Charleston. It boasts fresh paint, new stainless-steel appliances, LVP flooring and updated light fixtures. Situated just minutes from downtown Charleston, the Airport, Tanger Outlets and major employers including Boeing, this home offers exceptional convenience for work and play as it is easily accessible to I-26 and I-526. Enjoy close proximity to North Charleston's exciting upcoming developments, along with nearby restaurants, shopping, and entertainment. Whether you're looking for a primary residence or investment opportunity, this well positioned condo of

Key facts

• Fresh paint
• Balcony
• Lvp flooring

Tags

• TOP-FLOOR
• BALCONY
• FRESH PAINT
• STAINLESS-STEEL APPLIANCES
• LVP FLOORING
• UPDATED LIGHT FIXTURES

Property features AI

Finance

• HOA & community: HOA fee $210 monthly

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Charleston Water Service; Dominion Energy
• Home design: Residential condominium; Single-family attached; One-story
• Construction: Architectural roof; Condominium structure
• Exterior features: Balcony

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (master with ceiling fan)
• Flooring: Luxury vinyl
• Bathrooms: 1 bathroom
• Heating & cooling: Electric heat; Central air conditioning
• Interior features: Smooth ceilings; Ceiling fans; Living room fireplace (one)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 7.9% 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: North Charleston High (math 27% / reading 57%, grade F, #174 of 196 statewide, top 90%, 768 students, 100% FRL) — zoned schools average 100% FRL vs 44% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 203 active listings in the ZIP; 28 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).
• This rent runs 38% 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 $1k of loan paydown is wiped out by about $5k 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 + 6.4% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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 $40k; list at $160k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $160,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.11% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 7.5

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: -3.3%
• Equity multiple: 0.87×
• Total profit: $-5,711
• Equity at exit: $23,857

10-year hold

• IRR: 10.1%
• Equity multiple: 1.91×
• Total profit: $40,613
• Equity at exit: $13,834

Cash invested: $44,800 (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: 203
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$839
• Tax from tax record: −$72 /mo · $862/yr
• Insurance: −$67
• HOA: −$210
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $219

Break-even live

Break-even rent $1,503

Max offer price $160,000

Occupancy floor 83%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 Hilda St North Charleston, SC	3.0	1.0	900	$1,700	$1.89	21d	1	0.19mi
2674 Madden Dr North Charleston, SC	3.0	2.0	858	$2,200	$2.56	23d	1	0.24mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	10d	1	0.50mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	23d	1	0.50mi
4008 Gary Dr North Charleston, SC	2.0	1.0	676	$1,300	$1.92	14d	1	0.61mi
2636 S Allen Dr North Charleston, SC	3.0	2.0	1100	$2,200	$2.00	14d	1	0.61mi
2624 S Allen Dr North Charleston, SC	3.0	2.0	1000	$1,600	$1.60	23d	1	0.64mi
2679 Olympia Ave Unit A North Charleston, SC	3.0	1.0	1100	$1,995	$1.81	23d	1	0.65mi
4025 Gary Dr Unit A North Charleston, SC	3.0	1.0	925	$1,600	$1.73	23d	1	0.69mi
2667 Olympia Ave North Charleston, SC	2.0	2.0	899	$1,500	$1.67	23d	1	0.74mi
2645 Oregon Ave North Charleston, SC	3.0	2.0	916	$2,300	$2.51	23d	1	0.78mi
2755 Louise Dr North Charleston, SC	3.0	1.0	1025	$1,800	$1.76	23d	1	0.85mi
2708 Busch Ave North Charleston, SC	3.0	1.5	1025	$2,100	$2.05	23d	1	0.90mi
2808 Martha Dr North Charleston, SC	3.0	2.0	1025	$2,250	$2.20	23d	1	0.99mi
3545 1/2 Admiral Dr Unit 4 North Charleston, SC	2.0	1.0	680	$1,000	$1.47	14d	1	1.00mi
3119 Azalea Dr North Charleston, SC	2.0	1.0	900	$1,550	$1.72	23d	1	1.12mi
3119 Azalea Dr Unit N North Charleston, SC	2.0	1.0	900	$1,550	$1.72	11d	1	1.12mi
2116 Commander Rd North Charleston, SC	3.0	2.0	1050	$2,250	$2.14	2d	1	1.12mi
2512 Bennett Yard Rd Unit B North Charleston, SC	3.0	1.5	834	$1,800	$2.16	23d	1	1.19mi
2245 Garfield St North Charleston, SC	3.0	1.0	1035	$1,700	$1.64	23d	1	1.19mi
2125 Aberdeen Ave Unit 102 North Charleston, SC	2.0	1.0	625	$1,375	$2.20	2d	1	1.30mi
1920 McMillan Ave North Charleston, SC	1.0–3.0	1.0	777	$1,300	$1.67	23d	1	1.31mi
4025 Bamberg Ave Unit 4025-5 North Charleston, SC	2.0	1.0	800	$1,400	$1.75	23d	1	1.31mi
3360 Apache St North Charleston, SC	1.0	1.0	700	$1,050	$1.50	10d	5	1.40mi
2150 Becker St North Charleston, SC	3.0	1.5	1104	$2,000	$1.81	23d	1	1.42mi
1915 Cherokee St North Charleston, SC	3.0	2.0	800	$1,999	$2.50	21d	1	1.49mi
4003 S Rhett Ave Unit C5 North Charleston, SC	2.0	1.0	640	$1,399	$2.19	18d	1	1.50mi
4003 S Rhett Ave Unit B6 North Charleston, SC	2.0	1.0	640	$1,350	$2.11	23d	1	1.50mi

HOA detail condo

• Monthly dues: $210 · $2,520/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $160,000 Active 14 DOM
2. 2026-06-17
   days on market $160,000 Active 13 DOM
3. 2026-06-16
   days on market $160,000 Active 12 DOM
4. 2026-06-15
   days on market $160,000 Active 11 DOM
5. 2026-06-10
   days on market $160,000 Active 6 DOM
6. 2026-06-09
   days on market $160,000 Active 5 DOM
7. 2026-06-08
   days on market $160,000 Active 4 DOM
8. 2026-06-07
   days on market $160,000 Active 3 DOM
9. 2026-06-05
   remarks 699-char remark
10. 2026-06-05
    listed $160,000 Active 1 DOM

ⓘ 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: $862 · $72/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$50/yr (+$4/mo · 5.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $21,359
• − Mortgage interest: −$8,962
• − Property taxes: −$862
• − Insurance: −$800
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − HOA: −$2,520
• − Depreciation: −$4,655
• Taxable income: $142
• Est. tax owed @ 24.0%: −$34
• After-tax cash flow: $2,588/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

+113.3% since first listed

8 events — show timeline

• 2026-06-04 Listed $160,000 Charleston Trident MLS
• 2026-02-11 Relisted — Charleston Trident MLS
• 2026-02-01 Listing Removed — Charleston Trident MLS
• 2025-08-31 Listed $155,000 Charleston Trident MLS
• 2015-02-06 Listing Removed — Charleston Trident MLS
• 2014-06-05 Sold (Public Records) $40,000 Public Records
• 2009-12-31 Sold (Public Records) $171,400 Public Records
• 2008-10-07 Listed $75,000 Charleston Trident MLS

Property tax history

+4.2%/yr

Latest (2022): $862 · +0.7% YoY. Source: county tax records.