1867 Grover Rd · Charleston, SC 29455

$280,000

3 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 39 Days on market

Built 1985 0.34 ac lot Est $357k · 22% under

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Why this score? — see what drove the C 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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention all Investor/Rehab/Renovation Buyers - This property is 1 of 30 being sold by the Seller and can be purchased individually or as a group. A fantastic opportunity for investors, owner-occupants, or anyone looking for a renovation project. PLEASE NOTE: Properties are being sold strictly as-is and Seller will make no modifications or repairs. If square footage is important, please measure. Seller has set a call for offers to ensure all interested parties have equal opportunity to preview the homes, so please send your highest and best offer when you submit. * * * DUE TO TROPICAL STORM DEBBY the NEW OFFER DEADLINE is SUNDAY, 8/18/2024 at 11:59PM. * * * Seller will not respond to

Key facts

• Investor buyers
• 0.34 acre lot
• Built 1985

Tags

• RENOVATION PROJECT OPPORTUNITY
• INVESTOR BUYERS
• OFFER DEADLINE SUNDAY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/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 $273k (2.5% below list).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.4% in 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 76/100 on livability (#22 in SC, #3,336 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, commute F, cost of living D-.
• 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: Mt. Zion Elementary (math 37% / reading 32%, grade F, #344 of 597 statewide, top 60%, 258 students, 100% FRL); Haut Gap Middle (math 39% / reading 44%, grade F, #68 of 229 statewide, top 31%, 444 students, 100% FRL); St. Johns High (math 42% / reading 72%, grade C, #120 of 196 statewide, top 64%, 387 students, 100% FRL) — zoned schools average 100% FRL vs 44% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 568 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).

Forward outlook

• 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.
• 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 39 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 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 $50k; list at $280k implies a 460% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $271,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. Crime grade is D 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?
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: 0.98% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.40%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $357,236
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3020 Marlin Rd	0.64mi	3/1.0	1,092 (+8%)	14mo	$385,000	$353	45

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.60×
• Total profit: $-31,310
• Equity at exit: $41,749

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-9,429
• Equity at exit: $24,209

Cash invested: $78,400 (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 29455

• Rents YoY: 3.0%
• Active inventory: 568
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,731 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $222

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 87%

Sensitivity live

Price	-10% $416	-5% $319	+0% $222	+5% $126	+10% $29
Rent	-10% $7	-5% $114	+0% $222	+5% $330	+10% $438
Rate	-1.0pp $363	-0.5pp $294	base $222	+0.5pp $150	+1.0pp $76

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Wildts Battery Blvd Johns Island, SC	1.0–3.0	1.0–2.0	923	$2,444	$2.65	4d	10	0.20mi
3021 Maybank Hwy Johns Island, SC	3.0	3.5	1443	$2,810	$1.95	4d	5	0.38mi
555 Linger Longer Dr Johns Island, SC	1.0–3.0	1.0–2.0	1018	$3,199	$3.14	4d	15	0.84mi
60 Fenwick Hall Allee #616 Johns Island, SC	2.0	2.0	1107	$1,999	$1.81	24d	1	1.05mi
1165 Saint Pauls Parrish Ln Johns Island, SC	2.0	2.5	1356	$2,800	$2.06	4d	1	1.21mi
2815 Summertrees Blvd Johns Island, SC	3.0	2.0	1400	$3,000	$2.14	20d	1	1.32mi

Listing history 5 events

1. 2024-09-10
   status Pending
2. 2024-09-10
   status Active
3. 2024-08-24
   historical Active Under Contract
4. 2024-08-01
   listed $280,000 Active
5. 1990-07-13
   soldstatus $50,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $32,769
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,622
• − Management: −$2,622
• − Depreciation: −$8,145
• Taxable loss: −$1,904
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $3,124/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 — Charleston

• Score: 76/100
• State rank: #22
• US rank: #3336

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charleston County · 366,793 people
• City population: 200,573
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 27,576
• Household income: $121,372
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 304.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 11% Hispanic / Latino 8% Two or more races 6% Native American 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 5% Romanian 4% Slovak 3%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -223.02%
• Current HPI: 297.7408
• Rent YoY: ▲ 2.95%
• 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

+460.0% since first listed

5 events — show timeline

• 2024-09-10 Pending — Charleston Trident MLS
• 2024-09-10 Relisted — Charleston Trident MLS
• 2024-08-24 Contingent — Charleston Trident MLS
• 2024-08-01 Listed $280,000 Charleston Trident MLS
• 1990-07-13 Sold (Public Records) $50,000 Public Records

Property tax history

+4.7%/yr

Latest (2022): $171 · +0.0% YoY. Source: county tax records.