5603 Dobson St · North Charleston, SC 29406

$740,000

None bd · None ba · 1,445 sqft · MultiFamily public records · 22 Days on market

Built 1973 9,147 sqft lot

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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 +28.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

5603 Dobson is a 6 unit apartment building with positive cash flow priced over a 10.5 CAP. Each unit is 1 bedroom/1 bathroom. The property stays fully occupied and rents in the area have been steadily increasing with room for improvement even at the current rates. Unit 1 rents for $625, Unit 2 rents for $625, Unit 3 rents for $450, Unit 4 rents for $650, Unit 5 rents for $550, and Unit 6 rents for $600. Very large parking lot in the back of the building provides plenty of parking for tenants. Don't miss out on this great investment opportunity! Priced at over a 10.5 CAP, this won't last long. Current NOI projection attached.

Key facts

• Stable occupancy
• Growing neighborhood
• 100 percent leased

Tags

• INVESTMENT OPPORTUNITY
• GROWING NEIGHBORHOOD
• 100 PERCENT LEASED
• ROOF REPLACEMENT
• UPDATED HVAC WINDOW UNITS
• STABLE OCCUPANCY

Property features AI

Finance

• Financial info: Six total units

Exterior

• Parking: Other parking type
• Home design: Residential income property
• Construction: Structure type: more than 4 units
• Exterior features: Architectural roof; Located in the Charleston Farms subdivision

Interior

• Bedrooms: 6 total units
• Interior features: More than 4-unit structure (multi-family residential income property)

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $740k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $385/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $740k).
• Recommended offer: $729k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: Matilda F. Dunston Elementary (math 12% / reading 17%, grade F, #553 of 597 statewide, top 95%, 436 students, 100% FRL); Morningside Middle (math 4% / reading 12%, grade F, #226 of 229 statewide, top 99%, 567 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 22% at this address vs 50% district-wide (-29 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 (+1.4%/yr); 173 active listings in the ZIP; 31 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).
• At $8,726/mo this rent would consume 210% of the median local household income ($50k/yr) (locally 2054% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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 22 days — a 2% lower offer ($729k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 23y 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 $295k; list at $740k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $728,900 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.39%
• DSCR: 1.60
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.37% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $13,036
• Equity at exit: $110,336

10-year hold

• IRR: 9.7%
• Equity multiple: 1.70×
• Total profit: $144,209
• Equity at exit: $63,982

Cash invested: $207,200 (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 29406

• Home prices YoY: -6.7%
• Rents YoY: 1.4%
• Active inventory: 173
• Price-to-rent: 42.4×

Monthly cashflow live

• Estimated rent: $8,726 high
• Mortgage (P&I): −$3,881
• Tax from tax record: −$393 /mo · $4,716/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,832
• Net cashflow: $2,312

Break-even live

Break-even rent $5,800

Max offer price $740,000

Occupancy floor 69%

Sensitivity live

Price	-10% $2,730	-5% $2,521	+0% $2,312	+5% $2,102	+10% $1,893
Rent	-10% $1,622	-5% $1,967	+0% $2,312	+5% $2,656	+10% $3,001
Rate	-1.0pp $2,684	-0.5pp $2,500	base $2,312	+0.5pp $2,120	+1.0pp $1,925

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$8,724
Total (6 units)			$8,726

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: $185,000
• Closing costs: $22,200
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5653 Sablewood St North Charleston, SC	3.0–4.0	2.5–3.5	1770	$2,152	$1.22	4d	1	0.24mi
1511 Larry St Charleston, SC	3.0	1.0	967	$2,100	$2.17	25d	1	0.40mi
5806 Sledge St Unit A Hanahan, SC	2.0	1.5	1200	$1,600	$1.33	5d	1	0.45mi
5806 Sledge St Hanahan, SC	2.0	2.0	1000	$1,600	$1.60	16d	1	0.45mi
1901 Gumwood Blvd Unit F North Charleston, SC	2.0	1.0	1100	$900	$0.82	23d	1	0.51mi
5403 Torgerson Ave North Charleston, SC	3.0	1.0	995	$2,075	$2.09	25d	1	0.51mi
1441 Remount Rd Unit 12 North Charleston, SC	3.0	2.0	1050	$2,030	$1.93	25d	1	0.53mi
1441 Remount Rd North Charleston, SC	2.0–3.0	1.0–2.0	837	$1,500	$1.79	16d	3	0.53mi
1414 Sumner Ave North Charleston, SC	3.0	2.5	1616	$2,420	$1.50	4d	3	0.59mi
5739 Salvo ST , SC	2.0	2.0	994	$1,495	$1.50	25d	1	0.63mi
1370 Remount Rd Unit 2 North Charleston, SC	2.0	1.5	900	$1,600	$1.78	25d	1	0.72mi
1370 Remount Rd Apt 5 North Charleston, SC	2.0	1.5	900	$1,700	$1.89	25d	1	0.72mi
1331 Addykay Pl North Charleston, SC	3.0	2.0	1200	$2,086	$1.74	25d	1	0.73mi
2203 Eleanor Dr North Charleston, SC	3.0	1.0	1072	$2,030	$1.89	25d	1	0.81mi
5902 Park St Hanahan, SC	3.0	1.0	1100	$1,650	$1.50	13d	1	0.84mi
5902 Park St Hanahan, SC	3.0	1.0	1100	$1,650	$1.50	5d	1	0.84mi
2214 Van Buren Ave Unit B North Charleston, SC	3.0	1.0	1000	$1,950	$1.95	25d	1	0.85mi
5808 Knight St Hanahan, SC	3.0	2.5	1025	$2,249	$2.19	4d	1	0.94mi
5812 Knight St Hanahan, SC	3.0	2.5	1025	$2,349	$2.29	16d	1	0.94mi
5736 Pilgrim Ave Hanahan, SC	3.0	1.0	900	$2,150	$2.39	25d	1	0.94mi
5739 N Murray Ave Lot 7 Hanahan, SC	3.0	2.5	1380	$2,295	$1.66	25d	1	0.98mi
5739 N Murray Ave Lot 7 Hanahan, SC	3.0	2.5	1380	$2,295	$1.66	16d	1	0.98mi
2533 Celestial Ct North Charleston, SC	3.0	2.0	1200	$2,000	$1.67	25d	1	1.06mi
6211 Rolling Fork Rd Apt E North Charleston, SC	2.0	2.0	988	$1,700	$1.72	25d	1	1.13mi
2020 Coldspring Dr North Charleston, SC	2.0	2.0	921	$1,700	$1.85	25d	1	1.20mi
2020 Coldspring Dr Unit F North Charleston, SC	2.0	2.0	921	$1,750	$1.90	25d	1	1.20mi
6248 Lucille Dr Unit 15F North Charleston, SC	2.0	1.5	1066	$1,530	$1.44	16d	1	1.23mi
4840 Upjohn RD North Charleston, SC	2.0–3.0	1.0–2.0	1066	$1,132	$1.06	25d	1	1.28mi
6280 Lucille Dr Unit D North Charleston, SC	2.0	1.5	1066	$1,450	$1.36	25d	1	1.28mi
2403 Mall Dr North Charleston, SC	1.0–2.0	1.0–2.0	911	$2,470	$2.71	4d	20	1.36mi
4730 Mint Ave North Charleston, SC	3.0	2.0	1300	$2,499	$1.92	25d	1	1.48mi

Listing history 15 events

1. 2026-06-22
   days on market $740,000 Active 22 DOM
2. 2026-06-18
   days on market $740,000 Active 19 DOM
3. 2026-06-17
   days on market $740,000 Active 18 DOM
4. 2026-06-16
   days on market $740,000 Active 17 DOM
5. 2026-06-15
   days on market $740,000 Active 16 DOM
6. 2026-06-10
   days on market $740,000 Active 11 DOM
7. 2026-06-09
   days on market $740,000 Active 10 DOM
8. 2026-06-08
   days on market $740,000 Active 9 DOM
9. 2026-06-07
   days on market $740,000 Active 8 DOM
10. 2026-06-05
    days on market $740,000 Active 5 DOM
11. 2026-06-03
    days on market $740,000 Active 4 DOM
12. 2026-06-03
    days on market $740,000 Active 3 DOM
13. 2026-06-01
    days on market $740,000 Active 2 DOM
14. 2026-05-31
    remarks 672-char remark
15. 2026-05-31
    listed $740,000 Active 1 DOM

ⓘ 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: $4,716 · $393/mo
• Projected year-2 tax: $4,716 · $393/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 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $104,712
• − Mortgage interest: −$41,452
• − Property taxes: −$4,716
• − Insurance: −$3,700
• − Repairs & maintenance: −$8,377
• − Management: −$8,377
• − Depreciation: −$21,527
• Taxable income: $16,563
• Est. tax owed @ 24.0%: −$3,975
• After-tax cash flow: $23,764/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): 32,001
• Household income: $49,815
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2054.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 40% White 32% Hispanic / Latino 19% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 17% Vietnamese 1% Tagalog/Filipino 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: ▼ -27.09%
• Current HPI: 374.9164
• Rent YoY: ▲ 1.37%
• 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

+1380.0% since first listed

35 events — show timeline

• 2026-05-30 Listed $740,000 Charleston Trident MLS
• 2023-09-18 Rental Removed $900 APPFOLIO
• 2023-08-20 Listed for Rent $900 APPFOLIO
• 2022-04-22 Price Changed $875 APPFOLIO
• 2018-04-17 Sold (Public Records) $295,000 Public Records
• 2018-03-30 Sold (MLS) $295,000 Charleston Trident MLS
• 2018-02-15 Contingent — Charleston Trident MLS
• 2018-02-05 Listed $299,000 Charleston Trident MLS
• 2017-11-28 Listing Removed — Charleston Trident MLS
• 2017-10-17 Price Changed $299,000 Charleston Trident MLS
• 2017-08-28 Relisted — Charleston Trident MLS
• 2017-08-23 Contingent — Charleston Trident MLS
• 2017-07-19 Listed $309,000 Charleston Trident MLS
• 2016-05-19 Sold (Public Records) $130,000 Public Records
• 2016-05-19 Sold (MLS) $130,000 Charleston Trident MLS
• 2016-03-15 Contingent — Charleston Trident MLS
• 2016-03-14 Listed $137,500 Charleston Trident MLS
• 2013-03-05 Sold (Public Records) $85,000 Public Records
• 2013-03-04 Listing Removed — Charleston Trident MLS
• 2013-03-04 Sold (MLS) $85,000 Charleston Trident MLS
• 2013-02-06 Listed $90,000 Charleston Trident MLS
• 2012-11-06 Listed $90,000 Charleston Trident MLS
• 2012-01-31 Listing Removed — Charleston Trident MLS
• 2011-09-16 Listed $145,000 Charleston Trident MLS
• 2004-02-05 Sold (Public Records) $135,000 Public Records
• 2004-01-14 Listing Removed — Charleston Trident MLS
• 2003-08-22 Listed $154,900 Charleston Trident MLS
• 2003-08-12 Listing Removed — Charleston Trident MLS
• 2003-08-12 Listing Removed — Charleston Trident MLS
• 2003-02-12 Listed $159,900 Charleston Trident MLS
• 2003-02-12 Listed $159,900 Charleston Trident MLS
• 2001-10-19 Sold (Public Records) $125,000 Public Records
• 2000-03-22 Sold (Public Records) $75,000 Public Records
• 1998-04-20 Sold (Public Records) $19,000 Public Records
• 1996-07-03 Sold (Public Records) $50,000 Public Records

Property tax history

+7.4%/yr

Latest (2022): $4,716 · +0.8% YoY. Source: county tax records.