7668 Hunters Ridge Ln Unit 1.4

North Charleston, SC 29420

$649,900C-

8 bd · 19.6 ba · 4,000 sqft · Built 1973 · MultiFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,557/mo
• Mortgage (P&I): −$3,408
• Tax + insurance: −$1,083
• HOA: −$0
• Vac / Maint / Mgmt: −$1,377
• Net cashflow: $689/mo
• Annual: $8,265/yr
• Cap rate: 7.56%
• Cash-on-cash: 4.54%
• DSCR: 1.20
• 1% rule: 1.01%
• Cash to close: $181,972

Investor read

• This is a 4 × 2-bed/4.9-bath units multifamily listed at $650k. Condition is rated fair.
• At list price, monthly cash flow is $689 ($8k/yr) — positive. Per door: $172/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• It's been on market 26 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $640k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• 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.
• Dorchester 02 (suburban): math 40% / reading 55% proficiency, ranked #12 of 80 in SC (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Windsor Hill Arts Infused Elementary (math 28% / reading 35%, grade F, #383 of 597 statewide, top 64%, 693 students, 100% FRL); River Oaks Middle (math 14% / reading 32%, grade F, #171 of 229 statewide, top 76%, 849 students, 84% FRL); Fort Dorchester High (math 58% / reading 88%, grade B+, #44 of 196 statewide, top 23%, 2,312 students, 62% FRL) — zoned schools average 82% FRL vs 36% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 129 active listings in the ZIP; 1,199 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• Dorchester County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 98% 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.
• Cap rate 7.6% 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.
• At $6,557/mo this rent would consume 108% of the median local household income ($73k/yr) (locally 738% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: roof — Signs of wear and potential for leaks
• Moderate: exterior siding — Weathered and in need of repainting
• Moderate: fencing — In poor condition and needs repair