2182 Spoleto Ln · North Charleston, SC 29406

$189,900

2 bd · 2.0 ba · 951 sqft · Condo · 49 Days on market

Built 1985 Fair condition

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Why this score? — see what drove the F 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 +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.2/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER WILL PAY $2,000 TOWARDS BUYER'S CLOSING COSTS. GREAT SINGLE STORY CONDO IN A VERY CONVENIENT LOCATION. THIS CONDO OFFERS A SPACIOUS, OPEN FLOOR PLAN WITH VAULTED CEILINGS, A FIREPLACE, SPACIOUS BEDROOMS WITH LARGE CLOSETS, AND A PRICE THAT IS HARD TO FIND ON A HOME THIS NICE. DON'T MISS OUT ON THIS OPPORTUNITY! SELLER PROVIDING A ONE YEAR HOME TRUST WARRANTY.

Key facts

• Covered front porch
• Private driveway
• Vaulted ceilings

Tags

• OPEN-CONCEPT LIVING
• VAULTED CEILINGS
• BREAKFAST BAR
• UPDATED FULL BATHROOM
• COVERED FRONT PORCH
• PRIVATE DRIVEWAY

Property features AI

Finance

• HOA & community: Subdivision: Otranto Club Villas; Community pool

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Charleston Water Service; Dominion Energy
• Home design: Single family attached (condominium); One level
• Construction: Condominium structure
• Exterior features: Architectural roof; Community pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms; Master bedroom with ceiling fan
• Flooring: Laminate
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heat; Central air conditioning
• Interior features: Smooth ceilings; Ceiling fans; Living/dining combo
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-224 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (14.1% below list).
• Recommended offer: $163k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 4.0% in North Charleston — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: A. C. Corcoran Elementary (math 21% / reading 16%, grade F, #506 of 597 statewide, top 85%, 767 students, 100% FRL); Northwoods Middle (math 11% / reading 16%, grade F, #207 of 229 statewide, top 91%, 738 students, 100% FRL); Rb Stall High (math 49% / reading 63%, grade C, #126 of 196 statewide, top 65%, 1,952 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 29% at this address vs 50% district-wide (-21 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); 174 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/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 $6k 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 49 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $100k; list at $190k implies a 90% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,146 (14.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.04%
• DSCR: 0.78
• GRM: 9.7

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: -26.9%
• Equity multiple: 0.11×
• Total profit: $-47,493
• Equity at exit: $28,315

10-year hold

• IRR: -32.4%
• Equity multiple: -0.31×
• Total profit: $-69,542
• Equity at exit: $16,419

Cash invested: $53,172 (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: 174
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA est. from 2 same-building comps: −$200
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-224

Break-even live

Break-even rent $1,914

Max offer price $157,559

Occupancy floor —

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8755 Jenny Lind St Charleston, SC	1.0–3.0	1.0–2.0	940	$1,442	$1.53	19d	1	0.88mi
8554 S Waccamaw Ct Charleston, SC	3.0	2.0	1028	$1,950	$1.90	23d	1	1.04mi
2510 Atlantic Palms Ln Charleston, SC	1.0–3.0	1.0–2.0	1006	$1,767	$1.76	2d	20	1.09mi
150 Keenan Ave Goose Creek, SC	3.0	1.5	1030	$1,831	$1.78	11d	1	1.18mi
2605 Elms Plantation Blvd North Charleston, SC	2.0	2.0	1071	$1,455	$1.36	23d	1	1.20mi
2225 Greenridge Rd North Charleston, SC	1.0–2.0	1.0–2.0	817	$1,579	$1.93	3d	14	1.35mi
7927 Saint Ives Rd Charleston, SC	1.0–3.0	1.0–2.0	969	$1,529	$1.58	3d	26	1.36mi
8907 Deerwood Dr North Charleston, SC	2.0	2.0	1000	$1,700	$1.70	23d	1	1.37mi
2245 Greenridge Rd North Charleston, SC	1.0–3.0	1.0–2.0	965	$1,528	$1.58	3d	19	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $189,900 Active 49 DOM
2. 2026-06-17
   days on market $189,900 Active 48 DOM
3. 2026-06-16
   days on market $189,900 Active 47 DOM
4. 2026-06-15
   days on market $189,900 Active 46 DOM
5. 2026-06-10
   days on market $189,900 Active 41 DOM
6. 2026-06-09
   days on market $189,900 Active 40 DOM
7. 2026-06-08
   days on market $189,900 Active 39 DOM
8. 2026-06-07
   days on market $189,900 Active 38 DOM
9. 2026-06-05
   days on market $189,900 Active 35 DOM
10. 2026-06-03
    days on market $189,900 Active 34 DOM
11. 2026-06-01
    days on market $189,900 Active 32 DOM
12. 2026-05-31
    days on market $189,900 Active 31 DOM
13. 2026-04-30
    listed $189,900 Active
14. 2006-06-28
    soldstatus $100,000 368-char remark

    Show marketing remark (368 chars)

    SELLER WILL PAY $2,000 TOWARDS BUYER'S CLOSING COSTS. GREAT SINGLE STORY CONDO IN A VERY CONVENIENT LOCATION. THIS CONDO OFFERS A SPACIOUS, OPEN FLOOR PLAN WITH VAULTED CEILINGS, A FIREPLACE, SPACIOUS BEDROOMS WITH LARGE CLOSETS, AND A PRICE THAT IS HARD TO FIND ON A HOME THIS NICE. DON'T MISS OUT ON THIS OPPORTUNITY! SELLER PROVIDING A ONE YEAR HOME TRUST WARRANTY.

15. 2006-03-07
    listed $99,000 368-char remark

    Show marketing remark (368 chars)

    SELLER WILL PAY $2,000 TOWARDS BUYER'S CLOSING COSTS. GREAT SINGLE STORY CONDO IN A VERY CONVENIENT LOCATION. THIS CONDO OFFERS A SPACIOUS, OPEN FLOOR PLAN WITH VAULTED CEILINGS, A FIREPLACE, SPACIOUS BEDROOMS WITH LARGE CLOSETS, AND A PRICE THAT IS HARD TO FIND ON A HOME THIS NICE. DON'T MISS OUT ON THIS OPPORTUNITY! SELLER PROVIDING A ONE YEAR HOME TRUST WARRANTY.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 17 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: $19,578
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − HOA: −$2,400
• − Depreciation: −$5,524
• Taxable loss: −$5,915
• Est. tax savings @ 24.0%: +$1,420
• After-tax cash flow: $-1,263/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathroom, and some landscaping improvements to increase its value.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major kitchen countertops — dated and in poor condition
• Major kitchen appliances — dated and in poor condition
• Major bathroom vanity — dated and in poor condition
• Minor landscaping — overgrown yard

Value-add opportunities

• Resale update kitchen cabinets, countertops, and appliances — modernizing the kitchen will attract more buyers
• Resale update bathroom vanity and fixtures — modernizing the bathroom will attract more buyers
• Both landscaping and curb appeal — improving the exterior will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
kitchen countertops · dated and in poor condition	Major	$15,000–50,000
kitchen appliances · dated and in poor condition	Major	$15,000–50,000
bathroom vanity · dated and in poor condition	Major	$15,000–50,000
landscaping · overgrown yard	Minor	$500–3,000
Total estimated repair cost · 5 items		$60,500–203,000

Value-add ROI direction

• Resale update kitchen cabinets, countertops, and appliances — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom vanity and fixtures — modernizing the bathroom will attract more buyers ↑
• Both landscaping and curb appeal — improving the exterior will increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+91.8% since first listed

3 events — show timeline

• 2026-04-30 Listed $189,900 Charleston Trident MLS
• 2006-06-28 Sold (MLS) $100,000 Charleston Trident MLS
• 2006-03-07 Listed $99,000 Charleston Trident MLS