166 President St · Charleston, SC 29403

$800,000

6 bd · 3.0 ba · 2,256 sqft · MultiFamily public records · 35 Days on market

Built 1935 2,613 sqft lot

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Seize a truly exceptional investment opportunity with this 3-unit multi-family home nestled in the heart of Downtown Charleston, SC. A rare diamond waiting for its savvy investor/developer, this property offers phenomenal income potential for both long-term tenants and the ability to generate lucrative short-term rental income. The home features three distinct units, providing a highly desirable mix for tenants: Location is everything, and this property boasts unparalleled walkability to key Lowcountry institutions, ensuring consistent demand from renters. It is mere walking distance to MUSC, The Citadel Military College, and the VA Hospital, as well as essential amenities like Publix. prop

Key facts

• Income potential
• Private balcony
• Distinct units

Tags

• MULTI-FAMILY HOME
• INCOME POTENTIAL
• SHORT-TERM RENTAL INCOME
• DISTINCT UNITS
• PRIVATE BALCONY
• INCOME-PRODUCING ASSET

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer
• Home design: Single-family detached residence; Two-story / multi-story
• Construction: Metal roof; Brick and wrought-iron fencing; Shed on property
• Exterior features: Balcony; Rain gutters

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 4 bathrooms
• Interior features: Family room; Formal living room

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $800k).
• Recommended offer: $776k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Mitchell Elementary (math 22% / reading 8%, grade F, #549 of 597 statewide, top 92%, 222 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 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 (+4.6%/yr); 147 active listings in the ZIP; 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 $6k of loan paydown is wiped out by about $24k 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 $224k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $776,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.06% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.77%
• DSCR: 1.48
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $1,651,392
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Percy St	0.40mi	6/5.0	2,288 (+1%)	12mo	$1,675,000	$732	61
201 Spring St	0.17mi	6/5.0	2,529 (+12%)	17mo	$895,000	$354	50

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-15,247
• Equity at exit: $119,283

10-year hold

• IRR: 9.4%
• Equity multiple: 1.78×
• Total profit: $174,060
• Equity at exit: $69,169

Cash invested: $224,000 (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 29403

• Rents YoY: 4.6%
• Active inventory: 147
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $8,479 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$160 /mo · $1,923/yr
• Insurance: −$333
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,781
• Net cashflow: $1,583

Break-even live

Break-even rent $6,475

Max offer price $800,000

Occupancy floor 76%

Sensitivity live

Price	-10% $2,036	-5% $1,809	+0% $1,583	+5% $1,357	+10% $1,130
Rent	-10% $913	-5% $1,248	+0% $1,583	+5% $1,918	+10% $2,253
Rate	-1.0pp $1,986	-0.5pp $1,786	base $1,583	+0.5pp $1,376	+1.0pp $1,165

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,478
Total (3 units)			$8,479

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $800,000 Active 35 DOM
2. 2026-06-17
   days on market $800,000 Active 34 DOM
3. 2026-06-16
   days on market $800,000 Active 33 DOM
4. 2026-06-15
   days on market $800,000 Active 32 DOM
5. 2026-06-10
   days on market $800,000 Active 27 DOM
6. 2026-06-09
   days on market $800,000 Active 26 DOM
7. 2026-06-08
   days on market $800,000 Active 25 DOM
8. 2026-06-07
   days on market $800,000 Active 24 DOM
9. 2026-06-05
   days on market $800,000 Active 21 DOM
10. 2026-06-03
    days on market $800,000 Active 20 DOM
11. 2026-06-01
    days on market $800,000 Active 18 DOM
12. 2026-05-31
    days on market $800,000 Active 17 DOM
13. 2026-05-14
    listed $800,000 Active
14. 2026-05-14
    listed $800,000 Active
15. 2026-05-14
    historical

ⓘ 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: $1,923 · $160/mo
• Projected year-2 tax: $4,560 · $380/mo
• Expected delta: +$2,637/yr (+$220/mo · 137.2%)

ⓘ 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 4/10 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: $101,748
• − Mortgage interest: −$44,812
• − Property taxes: −$1,923
• − Insurance: −$9,118
• − Repairs & maintenance: −$8,140
• − Management: −$8,140
• − Depreciation: −$23,273
• Taxable income: $6,342
• Est. tax owed @ 24.0%: −$1,522
• After-tax cash flow: $17,474/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

+0.0% since first listed

3 events — show timeline

• 2026-05-14 Listing Removed — Charleston Trident MLS
• 2026-05-14 Listed $800,000 Charleston Trident MLS
• 2026-05-14 Listed $800,000 Charleston Trident MLS

Property tax history

+3.7%/yr

Latest (2022): $1,923 · +0.0% YoY. Source: county tax records.