2959 Alabama Dr · North Charleston, SC 29405

$204,000

2 bd · 1.0 ba · 802 sqft · SingleFamily public records · 235 Days on market

Built 1940 5,662 sqft lot Est $216k · 5% under

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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 +14.7/30.0
• ARV discount +9.9/15.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• Rent growth +4.1/5.0
• 1% rule +3.8/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful renovated 3 bedroom 1 bathroom in one of the most popular neighborhoods in North Charleston.. The renovations include new floors, kitchen, paint throughout, granite countertops, stainless steel appliances and more.Perfect location close to both 526 and 26. Currently rented, this can be either a turnkey investment home for someone or you can choose to move into it and make it your personal home. Come by and take a look today.

Key facts

• Turn-key rental
• Waylyn neighborhood
• Centrally located

Tags

• WAYLYN NEIGHBORHOOD
• CENTRALLY LOCATED
• TURN-KEY RENTAL

Property features AI

Finance

• HOA & community: No association fee (0), billed annually

Exterior

• Utilities: Public sewer; Charleston Water Service; Dominion Energy
• Home design: Single family detached residence; One story; Ground-level entry; Located in the Waylyn subdivision
• Construction: Residential construction
• Exterior features: Wooden fenced, enclosed yard; Asphalt roof

Interior

• Kitchen: Electric range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms; Master bedroom on the lower level
• Bathrooms: 1 bathroom
• Interior features: Central air conditioning; Central electric heating
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $53 ($631/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (12.1% below list).
• Recommended offer: $179k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Meeting Street Elementary (math 19% / reading 16%, grade F, #512 of 597 statewide, top 86%, 1,133 students, 100% FRL); Northwoods Middle (math 11% / reading 16%, grade F, #207 of 229 statewide, top 91%, 738 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 100% FRL vs 44% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 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 (+6.4%/yr); 205 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 235 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $141k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $179,409 (12.1% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $215,738
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2965 Alabama Dr	0.03mi	3/2.0 (+1)	800 (-0%)	4mo	$305,000	$381	86
4047 Gary Dr	0.28mi	2/1.0	782 (-2%)	1mo	$150,000	$192	82
2885 Charlene Dr	0.16mi	2/1.0	864 (+8%)	5mo	$200,000	$231	76
2744 Saratoga Rd	0.26mi	3/1.0 (+1)	858 (+7%)	2mo	$200,000	$233	70
2652 Hull St	0.45mi	2/1.0	858 (+7%)	3mo	$240,000	$280	65
2762 E Surrey Dr	0.68mi	2/1.0	802 (0%)	4mo	$240,000	$299	65
2744 E Surrey Dr	0.62mi	2/1.0	832 (+4%)	7mo	$215,000	$258	59
2754 E Surrey Dr	0.65mi	3/1.0 (+1)	780 (-3%)	2mo	$210,000	$269	58
2651 Poplin Ave	0.50mi	3/2.0 (+1)	828 (+3%)	5mo	$270,000	$326	58
2718 E Surrey Dr	0.52mi	3/1.0 (+1)	732 (-9%)	1mo	$205,000	$280	55
2607 Ranger Dr	0.53mi	2/1.0	884 (+10%)	5mo	$170,000	$192	54
2604 Wye Ln	0.61mi	2/1.0	901 (+12%)	4mo	$229,000	$254	48

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 · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-23,439
• Equity at exit: $30,417

10-year hold

• IRR: 2.5%
• Equity multiple: 1.20×
• Total profit: $11,469
• Equity at exit: $17,638

Cash invested: $57,120 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,794 high
• Mortgage (P&I): −$1,070
• Tax from tax record: −$210 /mo · $2,519/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $53

Break-even live

Break-even rent $1,728

Max offer price $204,000

Occupancy floor 92%

Sensitivity live

Price	-10% $168	-5% $110	+0% $53	+5% $-5	+10% $-63
Rent	-10% $-89	-5% $-18	+0% $53	+5% $123	+10% $194
Rate	-1.0pp $155	-0.5pp $104	base $53	+0.5pp $0	+1.0pp $-54

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4025 Gary Dr Unit A North Charleston, SC	3.0	1.0	925	$1,600	$1.73	25d	1	0.22mi
4008 Gary Dr North Charleston, SC	2.0	1.0	676	$1,300	$1.92	16d	1	0.24mi
2708 Busch Ave North Charleston, SC	3.0	1.5	1025	$2,100	$2.05	25d	1	0.28mi
2755 Louise Dr North Charleston, SC	3.0	1.0	1025	$1,800	$1.76	25d	1	0.29mi
2808 Martha Dr North Charleston, SC	3.0	2.0	1025	$2,250	$2.20	25d	1	0.30mi
2679 Olympia Ave Unit A North Charleston, SC	3.0	1.0	1100	$1,995	$1.81	25d	1	0.47mi
2667 Olympia Ave North Charleston, SC	2.0	2.0	899	$1,500	$1.67	25d	1	0.47mi
3925 Hilda St North Charleston, SC	3.0	1.0	900	$1,700	$1.89	23d	1	0.52mi
2645 Oregon Ave North Charleston, SC	3.0	2.0	916	$2,300	$2.51	25d	1	0.57mi
2512 Bennett Yard Rd Unit B North Charleston, SC	3.0	1.5	834	$1,800	$2.16	25d	1	0.70mi
2674 Madden Dr North Charleston, SC	3.0	2.0	858	$2,200	$2.56	25d	1	0.80mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	25d	1	0.81mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	12d	1	0.81mi
2125 Aberdeen Ave Unit 102 North Charleston, SC	2.0	1.0	625	$1,375	$2.20	4d	1	0.92mi
4025 Bamberg Ave Unit 4025-5 North Charleston, SC	2.0	1.0	800	$1,400	$1.75	25d	1	0.95mi
2624 S Allen Dr North Charleston, SC	3.0	2.0	1000	$1,600	$1.60	25d	1	1.01mi
3229 W Montague Ave North Charleston, SC	1.0–2.0	1.0–2.0	946	$2,601	$2.75	4d	32	1.03mi
2636 S Allen Dr North Charleston, SC	3.0	2.0	1100	$2,200	$2.00	16d	1	1.04mi
3545 1/2 Admiral Dr Unit 4 North Charleston, SC	2.0	1.0	680	$1,000	$1.47	16d	1	1.16mi
4003 S Rhett Ave Unit B6 North Charleston, SC	2.0	1.0	640	$1,350	$2.11	25d	1	1.22mi
4003 S Rhett Ave Unit C5 North Charleston, SC	2.0	1.0	640	$1,399	$2.19	21d	1	1.22mi
1920 McMillan Ave North Charleston, SC	1.0–3.0	1.0	777	$1,300	$1.67	25d	1	1.27mi
2116 Commander Rd North Charleston, SC	3.0	2.0	1050	$2,250	$2.14	4d	1	1.34mi
4251 S Rhett Ave North Charleston, SC	1.0–3.0	1.0–2.5	1119	$2,462	$2.20	4d	16	1.50mi

Listing history 24 events

1. 2026-06-22
   days on market $204,000 Active 235 DOM
2. 2026-06-18
   days on market $204,000 Active 232 DOM
3. 2026-06-17
   days on market $204,000 Active 231 DOM
4. 2026-06-16
   days on market $204,000 Active 230 DOM
5. 2026-06-15
   days on market $204,000 Active 229 DOM
6. 2026-06-10
   days on market $204,000 Active 224 DOM
7. 2026-06-09
   days on market $204,000 Active 223 DOM
8. 2026-06-08
   days on market $204,000 Active 222 DOM
9. 2026-06-07
   days on market $204,000 Active 221 DOM
10. 2026-06-05
    days on market $204,000 Active 218 DOM
11. 2026-06-03
    days on market $204,000 Active 217 DOM
12. 2026-06-01
    days on market $204,000 Active 215 DOM
13. 2026-05-31
    days on market $204,000 Active 214 DOM
14. 2026-05-13
    price $204,000
15. 2026-02-11
    price $205,000
16. 2026-02-01
    status Active
17. 2025-11-26
    historical Active Under Contract
18. 2025-11-06
    price $209,000
19. 2025-10-29
    listed $214,000 Active
20. 2020-08-06
    soldstatus $141,000 Closed 438-char remark

    Show marketing remark (438 chars)

    Beautiful renovated 3 bedroom 1 bathroom in one of the most popular neighborhoods in North Charleston.. The renovations include new floors, kitchen, paint throughout, granite countertops, stainless steel appliances and more.Perfect location close to both 526 and 26. Currently rented, this can be either a turnkey investment home for someone or you can choose to move into it and make it your personal home. Come by and take a look today.

21. 2020-07-06
    historical Active Contingent 438-char remark

    Show marketing remark (438 chars)

    Beautiful renovated 3 bedroom 1 bathroom in one of the most popular neighborhoods in North Charleston.. The renovations include new floors, kitchen, paint throughout, granite countertops, stainless steel appliances and more.Perfect location close to both 526 and 26. Currently rented, this can be either a turnkey investment home for someone or you can choose to move into it and make it your personal home. Come by and take a look today.

22. 2020-07-02
    listed $139,999 Active 438-char remark

    Show marketing remark (438 chars)

    Beautiful renovated 3 bedroom 1 bathroom in one of the most popular neighborhoods in North Charleston.. The renovations include new floors, kitchen, paint throughout, granite countertops, stainless steel appliances and more.Perfect location close to both 526 and 26. Currently rented, this can be either a turnkey investment home for someone or you can choose to move into it and make it your personal home. Come by and take a look today.

23. 1996-02-29
    soldstatus $17,200
24. 1991-09-26
    soldstatus $27,900

ⓘ 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: $2,519 · $210/mo
• Projected year-2 tax: $2,519 · $210/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 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: $21,529
• − Mortgage interest: −$11,427
• − Property taxes: −$2,519
• − Insurance: −$1,020
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$5,935
• Taxable loss: −$2,817
• Est. tax savings @ 24.0%: +$676
• After-tax cash flow: $1,307/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

+631.2% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $204,000 Charleston Trident MLS
• 2026-02-11 Price Changed $205,000 Charleston Trident MLS
• 2026-02-01 Relisted — Charleston Trident MLS
• 2025-11-26 Contingent — Charleston Trident MLS
• 2025-11-06 Price Changed $209,000 Charleston Trident MLS
• 2025-10-29 Listed $214,000 Charleston Trident MLS
• 2020-08-06 Sold (MLS) $141,000 Charleston Trident MLS
• 2020-07-06 Contingent — Charleston Trident MLS
• 2020-07-02 Listed $139,999 Charleston Trident MLS
• 1996-02-29 Sold (Public Records) $17,200 Public Records
• 1991-09-26 Sold (Public Records) $27,900 Public Records

Property tax history

+16.1%/yr

Latest (2022): $2,519 · +0.8% YoY. Source: county tax records.