404 Greencastle Dr · Hanahan, SC 29445

$163,975

4 bd · 2.0 ba · 1,148 sqft · Condo public records · 48 Days on market

Built 1986 $375/mo HOA · 18% 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 +17.3/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large recently refreshed with new paint, carpet and floors. Lovely two bedroom, two bath unit. Living room is large with working wood burning fireplace. Nice dining area off living room and kitchen. Laundry room off the hall. Decks off the front and back, with great cross ventilation. One is screened in. Pool and walking trails. Close to everything!Great for first time homebuyers and retirees. Close to Naval Base

Key facts

• Quiet cul-de-sac
• End-unit condo
• Storage closet

Tags

• END-UNIT CONDO
• QUIET CUL-DE-SAC
• PRIVATE ACCESS BALCONY
• WOOD-BURNING FIREPLACE
• SCREENED PORCH
• STORAGE CLOSET

Property features AI

Finance

• HOA & community: HOA fee $375 monthly; Community pool; Community trash service; Walk/jog trails

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; BCW & SA water; Dominion Energy
• Home design: Single family attached (condominium); One story
• Construction: Architectural roof; Condo regime / condominium structure
• Exterior features: Balcony; Stoop; Located in a cul-de-sac; Lot under 0.5 acre

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms; Primary bedroom on upper level with ceiling fan and walk-in closet
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Central air; Electric heating
• Interior features: Walk-in closets; Ceiling fans; Family room; Separate dining room; Wood-burning fireplace in family room
• Laundry & utility: Washer hookup; Electric dryer hookup; Dedicated laundry room; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $164k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $159k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.6% in Hanahan — 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 72/100 on livability (#45 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, health & safety A-; Watch: amenities F, commute F.
• Berkeley 01 (suburban): math 35% / reading 48% proficiency, ranked #30 of 80 in SC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bowen'S Corner Elementary (math 52% / reading 53%, grade C-, #143 of 597 statewide, top 24%, 779 students, 27% FRL); Sedgefield Middle (math 13% / reading 26%, grade F, #182 of 229 statewide, top 80%, 986 students, 100% FRL); Goose Creek High (math 33% / reading 68%, grade D+, #150 of 196 statewide, top 76%, 1,981 students, 52% FRL).
• Market conditions: Rents rising fast (+4.5%/yr); 267 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).
• This rent runs 31% of the median local income ($82k/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.
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,055 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
6. 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.
7. 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: 1.27% ✓
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.52% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-15,349
• Equity at exit: $24,449

10-year hold

• IRR: 3.1%
• Equity multiple: 1.25×
• Total profit: $11,399
• Equity at exit: $14,178

Cash invested: $45,913 (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 29445

• Home prices YoY: -18.0%
• Rents YoY: 4.5%
• Active inventory: 267
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,089 medium
• Mortgage (P&I): −$860
• Tax from tax record: −$226 /mo · $2,715/yr
• Insurance: −$68
• HOA: −$375
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $121

Break-even live

Break-even rent $1,936

Max offer price $163,975

Occupancy floor 89%

Sensitivity live

Price	-10% $214	-5% $167	+0% $121	+5% $75	+10% $28
Rent	-10% $-44	-5% $38	+0% $121	+5% $203	+10% $286
Rate	-1.0pp $204	-0.5pp $163	base $121	+0.5pp $78	+1.0pp $35

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: $40,994
• Closing costs: $4,919
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Swift Blvd Goose Creek, SC	1.0–3.0	1.0–2.0	1015	$1,685	$1.66	3d	1	0.08mi
1841 Sundancer Ln Goose Creek, SC	3.0	2.0	1204	$2,200	$1.83	24d	1	0.79mi
169 Pine Shadow Dr Goose Creek, SC	3.0	2.5	1200	$1,800	$1.50	24d	1	1.02mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $163,975 Active 48 DOM
2. 2026-06-17
   days on market $163,975 Active 47 DOM
3. 2026-06-16
   days on market $163,975 Active 46 DOM
4. 2026-06-15
   price $163,975 Active 45 DOM
5. 2026-06-15
   days on market $164,975 Active 45 DOM
6. 2026-06-13
   days on market $164,975 Active 43 DOM
7. 2026-06-13
   days on market $164,975 Active 42 DOM
8. 2026-06-10
   days on market $164,975 Active 40 DOM
9. 2026-06-09
   days on market $164,975 Active 39 DOM
10. 2026-06-08
    days on market $164,975 Active 38 DOM
11. 2026-06-07
    days on market $164,975 Active 37 DOM
12. 2026-06-05
    days on market $164,975 Active 34 DOM
13. 2026-06-03
    days on market $164,975 Active 33 DOM
14. 2026-06-03
    days on market $164,975 Active 32 DOM
15. 2026-06-01
    days on market $164,975 Active 31 DOM
16. 2026-05-31
    days on market $164,975 Active 30 DOM
17. 2026-05-01
    listed $164,975 Active
18. 2026-04-30
    historical
19. 2026-04-24
    price $164,975
20. 2026-02-11
    price $169,725
21. 2026-01-15
    listed $169,975 Active
22. 2023-03-03
    soldstatus $164,000
23. 2023-02-16
    soldstatus $164,000 Closed 424-char remark

    Show marketing remark (424 chars)

    Large recently refreshed with new paint, carpet and floors. Lovely two bedroom, two bath unit. Living room is large with working wood burning fireplace. Nice dining area off living room and kitchen. Laundry room off the hall. Decks off the front and back, with great cross ventilation. One is screened in. Pool and walking trails. Close to everything!Great for first time homebuyers and retirees. Close to Naval Base

24. 2023-02-07
    status Pending 424-char remark

    Show marketing remark (424 chars)

    Large recently refreshed with new paint, carpet and floors. Lovely two bedroom, two bath unit. Living room is large with working wood burning fireplace. Nice dining area off living room and kitchen. Laundry room off the hall. Decks off the front and back, with great cross ventilation. One is screened in. Pool and walking trails. Close to everything!Great for first time homebuyers and retirees. Close to Naval Base

25. 2023-01-15
    historical Active Under Contract 424-char remark

    Show marketing remark (424 chars)

    Large recently refreshed with new paint, carpet and floors. Lovely two bedroom, two bath unit. Living room is large with working wood burning fireplace. Nice dining area off living room and kitchen. Laundry room off the hall. Decks off the front and back, with great cross ventilation. One is screened in. Pool and walking trails. Close to everything!Great for first time homebuyers and retirees. Close to Naval Base

26. 2023-01-15
    status Pending 424-char remark

    Show marketing remark (424 chars)

    Large recently refreshed with new paint, carpet and floors. Lovely two bedroom, two bath unit. Living room is large with working wood burning fireplace. Nice dining area off living room and kitchen. Laundry room off the hall. Decks off the front and back, with great cross ventilation. One is screened in. Pool and walking trails. Close to everything!Great for first time homebuyers and retirees. Close to Naval Base

27. 2022-12-08
    listed $167,500 Active 424-char remark

    Show marketing remark (424 chars)

    Large recently refreshed with new paint, carpet and floors. Lovely two bedroom, two bath unit. Living room is large with working wood burning fireplace. Nice dining area off living room and kitchen. Laundry room off the hall. Decks off the front and back, with great cross ventilation. One is screened in. Pool and walking trails. Close to everything!Great for first time homebuyers and retirees. Close to Naval Base

28. 2007-03-20
    soldstatus $86,000
29. 2007-03-19
    soldstatus $86,000
30. 2006-10-09
    listed $86,000
31. 2005-02-01
    soldstatus $57,000
32. 2005-01-27
    soldstatus $57,000
33. 2004-05-28
    listed $59,900
34. 1983-12-30
    soldstatus $43,000

ⓘ 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: $2,715 · $226/mo
• Projected year-2 tax: $2,715 · $226/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,069
• − Mortgage interest: −$9,185
• − Property taxes: −$2,715
• − Insurance: −$820
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − HOA: −$4,500
• − Depreciation: −$4,770
• Taxable loss: −$932
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $1,675/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: Berkeley 01
• NCES district ID: 4501170
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $52,724
• Composite: 35.95/100
• National rank: #4799
• State rank: #30 of 80 in SC

Livability — Hanahan

• Score: 72/100
• State rank: #45
• US rank: #6201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berkeley County · 198,768 people
• City population: 21,314
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 59,227
• Household income: $81,594
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 1308.0

Population outlook (Berkeley County) Hauer SSP2

• Today (2025): 254,184 people
• By 2030: 279,677 · +10.0%
• By 2040: 329,379 · +29.6%
• By 2050: 375,557 · +47.8%
• By 2075: 476,740 · +87.6%
• By 2100: 535,945 · +110.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 11% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada, Jamaica, Vietnam
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Berkeley

• 2024 margin: R (+16.3) · D 41.1% · R 57.4% · Other 1.4%
• 2008→2024 swing: -3.2pp toward R · 2008: -13.1pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+11.7 2016: R+17.4 2012: R+18.9 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.40%
• Current HPI: 301.8653
• Rent YoY: ▲ 4.52%
• 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

+283.7% since first listed

18 events — show timeline

• 2026-05-01 Listed $164,975 Charleston Trident MLS
• 2026-04-30 Listing Removed — Charleston Trident MLS
• 2026-04-24 Price Changed $164,975 Charleston Trident MLS
• 2026-02-11 Price Changed $169,725 Charleston Trident MLS
• 2026-01-15 Listed $169,975 Charleston Trident MLS
• 2023-03-03 Sold (Public Records) $164,000 Public Records
• 2023-02-16 Sold (MLS) $164,000 Charleston Trident MLS
• 2023-02-07 Pending — Charleston Trident MLS
• 2023-01-15 Contingent — Charleston Trident MLS
• 2023-01-15 Pending — Charleston Trident MLS
• 2022-12-08 Listed $167,500 Charleston Trident MLS
• 2007-03-20 Sold (Public Records) $86,000 Public Records
• 2007-03-19 Sold (MLS) $86,000 Charleston Trident MLS
• 2006-10-09 Listed $86,000 Charleston Trident MLS
• 2005-02-01 Sold (Public Records) $57,000 Public Records
• 2005-01-27 Sold (MLS) $57,000 Charleston Trident MLS
• 2004-05-28 Listed $59,900 Charleston Trident MLS
• 1983-12-30 Sold (Public Records) $43,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $2,715 · +1.5% YoY. Source: county tax records.