210 Pidgeon Bay Rd · Summerville, SC 29483

$149,000

12 bd · 10.0 ba · 6,000 sqft · Land · 136 Days on market

Built 2026 0.41 ac lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

Key facts

• Proximity to nexton
• Efficient parking
• Interior layout

Tags

• APPROVED 4 UNIT PROPERTY
• PAD READY SITE
• EFFICIENT PARKING
• INTERIOR LAYOUT
• PROXIMITY TO I-26
• PROXIMITY TO NEXTON

Property features AI

Finance

• Financial info: 4 total units (multi-family)

Exterior

• Utilities: Public sewer
• Home design: Residential Income property; Condominium / Other / Quadruplex structure type
• Exterior features: No other structures; Located in MLS area 63 - Summerville/Ridgeville

Interior

• Bedrooms: 12 bedrooms
• Bathrooms: 10 bathrooms
• Interior features: Total of 10 bathrooms; 12 bedrooms

What this means for you Summary

Snapshot

• This is a 12-bed/10.0-bath land listed at $149k.

Deal economics

• At list price, monthly cash flow is $957 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 4.0% in Summerville — 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 63/100 on livability (#167 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: amenities F, commute F, health & safety 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: Alston-Bailey Elementary (math 38% / reading 44%, grade F, #276 of 597 statewide, top 48%, 715 students, 86% FRL); Alston Middle (math 28% / reading 45%, grade F, #98 of 229 statewide, top 43%, 822 students, 81% FRL); Summerville High (math 60% / reading 92%, grade A-, #34 of 196 statewide, top 17%, 3,308 students, 59% FRL) — zoned schools average 75% FRL vs 36% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 741 active listings in the ZIP; solid renter incomes; 1,199 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/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 $4k of value loss. Plan a longer hold.
• Dorchester County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y 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 $25k; list at $149k implies a 496% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 95% 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.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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 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: 1.63% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.53%
• DSCR: 2.22
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.45% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 1.79×
• Total profit: $33,087
• Equity at exit: $22,216

10-year hold

• IRR: 27.1%
• Equity multiple: 3.22×
• Total profit: $92,477
• Equity at exit: $12,883

Cash invested: $41,720 (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 29483

• Home prices YoY: -34.6%
• Rents YoY: 1.4%
• Active inventory: 741
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,422 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$112 /mo · $1,349/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $957

Break-even live

Break-even rent $1,210

Max offer price $149,000

Occupancy floor 55%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $149,000 Active 136 DOM
2. 2026-06-17
   days on market $149,000 Active 135 DOM
3. 2026-06-16
   days on market $149,000 Active 134 DOM
4. 2026-06-15
   days on market $149,000 Active 133 DOM
5. 2026-06-13
   days on market $149,000 Active 131 DOM
6. 2026-06-13
   days on market $149,000 Active 130 DOM
7. 2026-06-10
   days on market $149,000 Active 128 DOM
8. 2026-06-09
   days on market $149,000 Active 127 DOM
9. 2026-06-08
   days on market $149,000 Active 126 DOM
10. 2026-06-07
    days on market $149,000 Active 125 DOM
11. 2026-06-03
    days on market $149,000 Active 121 DOM
12. 2026-06-01
    days on market $149,000 Active 119 DOM
13. 2026-05-31
    days on market $149,000 Active 118 DOM
14. 2026-02-24
    status Active

    Show marketing remark (1621 chars)

    This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

15. 2026-02-24
    status Active 1621-char remark

    Show marketing remark (1621 chars)

    This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

16. 2026-02-06
    historical Active Under Contract 1621-char remark

    Show marketing remark (1621 chars)

    This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

17. 2026-02-06
    historical Active Under Contract

    Show marketing remark (1621 chars)

    This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

18. 2026-02-02
    listed $149,000 Active

    Show marketing remark (1621 chars)

    This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

19. 2026-02-02
    listed $149,000 Active 1621-char remark

    Show marketing remark (1621 chars)

    This is proposed construction of multifamily property; pricing is for the land and seller documents that are available relating to the construction of the proposed 4 unit (2 Duplex) property. Approved 4 unit (2 Duplex) property, in one of the most convenient and accessible locations in all of Summerville. This pad ready site (dirt removal and new fill dirt has already taken place) comes with design and engineering documents provided by Seller; the project has been submitted and previously approved by Dorchester County. Site layout has been smartly designed to promote efficient parking between the two buildings. Expert attention was given to the interior layout of each unit, which consists of approximately 1500 sf of maximized living space per unit, with 3 spacious bedrooms and 2.5 baths.This property offers real estate investors multiple avenues of investment strategy, as each building can be bifurcated into a horizontal property regime as a for sale condo product, or the property could function as a single cash flowing investment under one TMS number. The sites proximity to I-26 exit 197 (+/-2.5 miles), Nexton (+/- 3.5 miles) and Downtown Summerville (+/- 1.5 miles) is at an absolute premium. Additionally, the property sits in the highly desirable Dorchester District 2 school system, which is an attractive attribute for all buyers and/or renters. The N Maple Street corridor between Hwy 78 and W Richardson is undergoing rapid redevelopment and renovation, with a new Roper St Francis facility and the potential redevelopment of the "Interfor" site, which sits on approximately 60 acres.

20. 2025-11-24
    historical
21. 2025-11-24
    historical
22. 2025-04-27
    status Active
23. 2025-04-27
    status Active
24. 2025-04-19
    historical
25. 2025-04-19
    historical
26. 2024-05-21
    listed $190,000 Active
27. 2024-05-21
    listed $190,000 Active
28. 2018-04-16
    soldstatus $25,000
29. 2007-09-04
    soldstatus $20,000

ⓘ 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: $1,349 · $112/mo
• Projected year-2 tax: $1,349 · $112/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 95% 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: $29,059
• − Mortgage interest: −$8,346
• − Property taxes: −$1,349
• − Insurance: −$745
• − Repairs & maintenance: −$2,325
• − Management: −$2,325
• − Depreciation: −$4,335
• Taxable income: $9,634
• Est. tax owed @ 24.0%: −$2,312
• After-tax cash flow: $9,173/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: Dorchester 02
• NCES district ID: 4502010
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $57,937
• Composite: 41.41/100
• National rank: #3475
• State rank: #12 of 80 in SC

Livability — Summerville

• Score: 63/100
• State rank: #167
• US rank: #15058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dorchester County · 182,866 people
• City population: 171,668
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 59,186
• Household income: $85,750
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 1309.0

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 186,982 people
• By 2030: 203,967 · +9.1%
• By 2040: 237,160 · +26.8%
• By 2050: 267,479 · +43.1%
• By 2075: 333,025 · +78.1%
• By 2100: 366,560 · +96.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 19% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.8% · R 56.4% · Other 1.9%
• 2008→2024 swing: +0.9pp no change · 2008: -15.5pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+10.5 2016: R+17.5 2012: R+16.0 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.42%
• Current HPI: 248.8406
• Rent YoY: ▲ 1.45%
• 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

+645.0% since first listed

16 events — show timeline

• 2026-02-24 Relisted — Charleston Trident MLS
• 2026-02-24 Relisted — Charleston Trident MLS
• 2026-02-06 Contingent — Charleston Trident MLS
• 2026-02-06 Contingent — Charleston Trident MLS
• 2026-02-02 Listed $149,000 Charleston Trident MLS
• 2026-02-02 Listed $149,000 Charleston Trident MLS
• 2025-11-24 Listing Removed — Charleston Trident MLS
• 2025-11-24 Listing Removed — Charleston Trident MLS
• 2025-04-27 Relisted — Charleston Trident MLS
• 2025-04-27 Relisted — Charleston Trident MLS
• 2025-04-19 Listing Removed — Charleston Trident MLS
• 2025-04-19 Listing Removed — Charleston Trident MLS
• 2024-05-21 Listed $190,000 Charleston Trident MLS
• 2024-05-21 Listed $190,000 Charleston Trident MLS
• 2018-04-16 Sold (Public Records) $25,000 Public Records
• 2007-09-04 Sold (Public Records) $20,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,349 · +2.2% YoY. Source: county tax records.