8016 Thelen St · North Charleston, SC 29406

$184,900

2 bd · 1.5 ba · 1,114 sqft · Townhouse public records · 107 Days on market

Built 1986 1,742 sqft lot Est $201k · 8% under $95/mo HOA · 6% of rent ↓ 41% since listing

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Why this score? — see what drove the D+ 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 +13.9/30.0
• ARV discount +11.0/15.0
• Schools +4.3/10.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is perfect for a roommate situation, students, first time home buyer or investor. Wiithin the last year this townhouse has received a lot of updating and love. Appliances, ceiling fans, light fixtures, all of the flooring including the Nine layer maple floors downstairs. The fireplace has been updated as well. The bathroom shower is shared between the bedrooms upstairs but each room has their own sink area. There is a porch out back and one off of the master. Don't miss this value...not in this market.

Key facts

• Built in shelving
• Private patio
• Cozy fireplace

Tags

• COZY FIREPLACE
• BUILT IN SHELVING
• PRIVATE PATIO
• PRIVATE BALCONY RETREAT
• LOW MAINTENANCE LIVING

Property features AI

Finance

• HOA & community: HOA fee of $95 per month

Exterior

• Parking: No carport spaces
• Utilities: Public sewer; Dominion Energy service
• Home design: Single-family attached (townhouse); Two levels
• Construction: Townhouse construction
• Exterior features: No additional structures noted; Located in the Northwoods Villas subdivision

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms (primary bedroom on upper level)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full and 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fan(s); Eat-in kitchen; Family room; Pantry; One fireplace
• Laundry & utility: Washer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $21 ($258/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (11.2% below list).
• Recommended offer: $164k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 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); 173 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 40% 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 107 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $185k implies a 134% 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 $164,183 (11.2% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 11% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $200,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2447 Woodstock Ave	0.07mi	2/1.5	1,114 (0%)	5mo	$190,000	$171	92
8056 Thelen St	0.06mi	2/1.5	1,114 (0%)	7mo	$192,500	$173	91
8059 Shadow Oak Dr	0.26mi	2/2.0	1,092 (-2%)	1mo	$197,000	$180	82
8156 Shadow Oak Dr	0.07mi	2/1.5	998 (-10%)	1mo	$212,000	$212	78
8097 Shadow Oak Dr	0.22mi	2/2.5	1,063 (-5%)	2mo	$174,000	$164	77
8048 Shadow Oak Dr	0.20mi	2/2.0	1,092 (-2%)	15mo	$225,000	$206	73
7965 Shadow Oak Dr	0.33mi	2/1.5	1,043 (-6%)	2mo	$197,000	$189	73
8100 Shadow Oak Dr	0.17mi	2/2.5	1,063 (-5%)	18mo	$219,975	$207	66
8058 Shadow Oak Dr	0.19mi	2/2.5	1,280 (+15%)	4mo	$185,000	$145	58
7914 Dutch Ct	0.64mi	3/1.5 (+1)	1,147 (+3%)	11mo	$185,000	$161	51
8158 Shadow Oak Dr	0.07mi	3/2.5 (+1)	1,275 (+14%)	17mo	$230,000	$180	50
7904 Shadow Oak Dr	0.38mi	2/2.5	1,280 (+15%)	7mo	$205,000	$160	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-31,219
• Equity at exit: $27,569

10-year hold

• IRR: -12.7%
• Equity multiple: 0.31×
• Total profit: $-35,850
• Equity at exit: $15,987

Cash invested: $51,772 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$970
• Tax from tax record: −$134 /mo · $1,607/yr
• Insurance: −$77
• HOA: −$95
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $21

Break-even live

Break-even rent $1,615

Max offer price $184,900

Occupancy floor 94%

Sensitivity live

Price	-10% $126	-5% $74	+0% $21	+5% $-31	+10% $-83
Rent	-10% $-108	-5% $-43	+0% $21	+5% $86	+10% $151
Rate	-1.0pp $115	-0.5pp $69	base $21	+0.5pp $-26	+1.0pp $-75

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8012 Thelen St North Charleston, SC	2.0	1.5	1133	$1,495	$1.32	16d	1	0.02mi
2245 Greenridge Rd North Charleston, SC	1.0–3.0	1.0–2.0	965	$1,528	$1.58	5d	19	0.04mi
2422 Woodstock Ave North Charleston, SC	2.0	1.5	1114	$1,600	$1.44	16d	1	0.07mi
2430 Woodstock Ave North Charleston, SC	2.0	1.5	1100	$1,350	$1.23	5d	1	0.07mi
2225 Greenridge Rd North Charleston, SC	1.0–2.0	1.0–2.0	817	$1,579	$1.93	5d	14	0.21mi
7927 Saint Ives Rd Charleston, SC	1.0–3.0	1.0–2.0	969	$1,529	$1.58	5d	26	0.27mi
7925 St Ives Rd North Charleston, SC	1.0–2.0	1.0–2.0	914	$1,689	$1.85	5d	10	0.35mi
7940 Shadow Oak Dr Charleston, SC	3.0	2.5	1287	$1,895	$1.47	16d	1	0.35mi
7911 Angel Ct North Charleston, SC	3.0	1.5	988	$1,750	$1.77	25d	1	0.55mi
8524 Brookforest Dr Charleston, SC	3.0	2.0	1244	$3,249	$2.61	25d	1	0.66mi
8471 Yadkin Cir Unit M Charleston, SC	3.0	2.5	1432	$2,550	$1.78	25d	1	0.69mi
8483 Yadkin Cir Unit D Charleston, SC	3.0	2.0	1414	$1,800	$1.27	13d	1	0.71mi
8554 S Waccamaw Ct Charleston, SC	3.0	2.0	1028	$1,950	$1.90	25d	1	0.74mi
21 Sabina Ct Hanahan, SC	3.0	2.0	1400	$2,800	$2.00	16d	1	0.75mi
3001 Cypress Lake Rd North Charleston, SC	1.0–3.0	1.0–2.5	1008	$2,100	$2.08	5d	26	1.03mi
3000 Cypress Lk Rd North Charleston, SC	1.0–3.0	1.0–2.0	1121	$1,926	$1.72	5d	29	1.14mi
3058 Nantuckett Ave North Charleston, SC	3.0	2.0	1278	$1,995	$1.56	16d	1	1.16mi
8755 Jenny Lind St Charleston, SC	1.0–3.0	1.0–2.0	940	$1,442	$1.53	21d	1	1.17mi
3073 Brigham Ct North Charleston, SC	3.0	2.0	1252	$1,850	$1.48	23d	1	1.24mi
2181 Dunlap St Charleston, SC	1.0–2.0	1.0–2.0	920	$1,795	$1.95	5d	12	1.32mi
5000 Mabeline Rd Hanahan, SC	2.0–3.0	1.5	1200	$1,459	$1.22	5d	6	1.45mi
2155 Morris Baker Blvd North Charleston, SC	1.0–3.0	1.0–2.0	1029	$1,844	$1.79	4d	22	1.45mi

HOA detail

• Monthly dues: $95 · $1,140/yr

Listing history 28 events

1. 2026-06-22
   days on market $184,900 Active 107 DOM
2. 2026-06-18
   days on market $184,900 Active 104 DOM
3. 2026-06-17
   days on market $184,900 Active 103 DOM
4. 2026-06-16
   days on market $184,900 Active 102 DOM
5. 2026-06-15
   days on market $184,900 Active 101 DOM
6. 2026-06-10
   days on market $184,900 Active 96 DOM
7. 2026-06-09
   days on market $184,900 Active 95 DOM
8. 2026-06-08
   days on market $184,900 Active 94 DOM
9. 2026-06-07
   days on market $184,900 Active 93 DOM
10. 2026-06-05
    days on market $184,900 Active 90 DOM
11. 2026-06-03
    pricedays on market $184,900 Active 89 DOM
12. 2026-06-01
    days on market $189,900 Active 87 DOM
13. 2026-05-31
    days on market $189,900 Active 86 DOM
14. 2026-05-11
    price $189,900
15. 2026-04-26
    status Active
16. 2026-04-26
    price $195,000
17. 2026-03-30
    price $190,000
18. 2026-03-19
    price $192,500
19. 2026-03-09
    status Active
20. 2026-02-25
    historical Active Under Contract
21. 2026-02-23
    listed $195,000 Active
22. 2017-09-29
    soldstatus $79,000
23. 2017-09-22
    soldstatus $79,000 Closed 517-char remark

    Show marketing remark (517 chars)

    This home is perfect for a roommate situation, students, first time home buyer or investor. Wiithin the last year this townhouse has received a lot of updating and love. Appliances, ceiling fans, light fixtures, all of the flooring including the Nine layer maple floors downstairs. The fireplace has been updated as well. The bathroom shower is shared between the bedrooms upstairs but each room has their own sink area. There is a porch out back and one off of the master. Don't miss this value...not in this market.

24. 2017-08-13
    historical Active Contingent 517-char remark

    Show marketing remark (517 chars)

    This home is perfect for a roommate situation, students, first time home buyer or investor. Wiithin the last year this townhouse has received a lot of updating and love. Appliances, ceiling fans, light fixtures, all of the flooring including the Nine layer maple floors downstairs. The fireplace has been updated as well. The bathroom shower is shared between the bedrooms upstairs but each room has their own sink area. There is a porch out back and one off of the master. Don't miss this value...not in this market.

25. 2017-08-09
    listed $79,000 Active 517-char remark

    Show marketing remark (517 chars)

    This home is perfect for a roommate situation, students, first time home buyer or investor. Wiithin the last year this townhouse has received a lot of updating and love. Appliances, ceiling fans, light fixtures, all of the flooring including the Nine layer maple floors downstairs. The fireplace has been updated as well. The bathroom shower is shared between the bedrooms upstairs but each room has their own sink area. There is a porch out back and one off of the master. Don't miss this value...not in this market.

26. 2006-06-02
    soldstatus $2,240,000
27. 1987-04-08
    soldstatus $1,184,000
28. 1987-02-18
    soldstatus $324,000

ⓘ 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: $1,607 · $134/mo
• Projected year-2 tax: $1,607 · $134/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 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: $19,702
• − Mortgage interest: −$10,357
• − Property taxes: −$1,607
• − Insurance: −$924
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − HOA: −$1,140
• − Depreciation: −$5,379
• Taxable loss: −$2,858
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $944/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

-41.4% since first listed

15 events — show timeline

• 2026-05-11 Price Changed $189,900 Charleston Trident MLS
• 2026-04-26 Relisted — Charleston Trident MLS
• 2026-04-26 Price Changed $195,000 Charleston Trident MLS
• 2026-03-30 Price Changed $190,000 Charleston Trident MLS
• 2026-03-19 Price Changed $192,500 Charleston Trident MLS
• 2026-03-09 Relisted — Charleston Trident MLS
• 2026-02-25 Contingent — Charleston Trident MLS
• 2026-02-23 Listed $195,000 Charleston Trident MLS
• 2017-09-29 Sold (Public Records) $79,000 Public Records
• 2017-09-22 Sold (MLS) $79,000 Charleston Trident MLS
• 2017-08-13 Contingent — Charleston Trident MLS
• 2017-08-09 Listed $79,000 Charleston Trident MLS
• 2006-06-02 Sold (Public Records) $2,240,000 Public Records
• 1987-04-08 Sold (Public Records) $1,184,000 Public Records
• 1987-02-18 Sold (Public Records) $324,000 Public Records

Property tax history

+7.9%/yr

Latest (2022): $1,607 · +0.7% YoY. Source: county tax records.