8410 Hidden Bakers Trce

North Charleston, SC 29418

$265,000D

3 bd · 2.0 ba · 1,494 sqft · Built 2024 · Townhouse · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,345/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$442
• HOA: −$230
• Vac / Maint / Mgmt: −$492
• Net cashflow: $-209/mo
• Annual: $-2,509/yr
• Cap rate: 5.35%
• Cash-on-cash: -3.38%
• DSCR: 0.85
• 1% rule: 0.88%
• Cash to close: $74,200

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $265k. Condition is rated good.
• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (11.5% below list).
• It's been on market 165 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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: Eagle Nest Elementary (math 36% / reading 37%, grade F, #328 of 597 statewide, top 55%, 680 students, 82% 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 76% FRL vs 36% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 165 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 74d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $40k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.3% 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.
• This rent runs 44% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.