742 Condon Dr · James Island, SC 29412

$649,000

4 bd · 2.5 ba · 2,234 sqft · SingleFamily public records · 45 Days on market

Built 1965 0.37 ac lot Est $762k · 15% under

---

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 +14.2/30.0
• ARV discount +14.2/15.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Handyman special. Home is being sold ''As-Is, no repairs.

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1965

Property features AI

Finance

• HOA & community: Community trash service

Exterior

• Parking: Attached 2-car garage
• Utilities: Public sewer; Charleston Water Service; Dominion Energy
• Home design: Single-family detached home; One story; Ground-level entry; Fee simple ownership
• Construction: Asphalt roof
• Exterior features: Chain link fencing; Level lot

Interior

• Kitchen: Built-in electric oven; Electric cooktop; Dishwasher; Refrigerator; Pantry (kitchen storage)
• Bedrooms: 4 bedrooms; Primary bedroom with ceiling fan(s)
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2.5 bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Family room; Formal living room; Pantry; Separate dining room; Wood-burning fireplace (one)
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $649k.

Deal economics

• At list price, monthly cash flow is $44 ($525/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 $493k (24.0% below list).
• Recommended offer: $493k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.4% in James Island — 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 70/100 on livability (#64 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living 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: Harbor View Elementary (math 65% / reading 63%, grade B, #63 of 597 statewide, top 11%, 639 students, 40% FRL); Camp Road Middle (math 50% / reading 57%, grade C+, #29 of 229 statewide, top 13%, 864 students, 38% FRL); James Island Charter High (math 73% / reading 89%, grade A, #21 of 196 statewide, top 11%, 1,589 students, 36% FRL, charter).
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Charleston 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.1%/yr); 301 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• At $4,933/mo this rent would consume 58% of the median local household income ($102k/yr) (locally 1006% 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 $4k of loan paydown is wiped out by about $19k 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 45 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $649k implies a 664% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $493,330 (24.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.76% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $761,794
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1468 N Relyea Ave	0.23mi	3/3.0 (-1)	2,221 (-1%)	10mo	$1,100,000	$495	72
1251 Julian Clark Rd	0.47mi	4/3.0	2,156 (-4%)	2mo	$735,000	$341	68
620 N Shore Dr	0.53mi	4/3.5	2,230 (-0%)	4mo	$1,050,000	$471	68
716 Waites Dr	0.43mi	3/2.0 (-1)	2,054 (-8%)	2mo	$540,000	$263	58
1563 Relyea Ave	0.36mi	3/3.0 (-1)	2,470 (+11%)	2mo	$625,000	$253	57
713 Lake Frances Dr	0.74mi	3/3.0 (-1)	2,313 (+4%)	1mo	$865,000	$374	52
949 Dills Bluff Rd	0.71mi	4/2.5	2,048 (-8%)	2mo	$635,000	$310	52
1110 Darwin St	0.48mi	3/2.0 (-1)	2,040 (-9%)	7mo	$730,000	$358	50
848 Harbor Place Dr	0.70mi	4/2.5	1,939 (-13%)	2mo	$650,000	$335	44
847 Quail Dr	0.40mi	3/2.0 (-1)	1,910 (-14%)	10mo	$565,500	$296	42
740 Lawton Pl	0.64mi	4/3.5	2,560 (+15%)	4mo	$1,554,230	$607	39
976 Mcelveen St	0.74mi	5/3.0 (+1)	2,560 (+15%)	2mo	$865,000	$338	32

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 · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-107,315
• Equity at exit: $96,768

10-year hold

• IRR: -10.3%
• Equity multiple: 0.40×
• Total profit: $-109,747
• Equity at exit: $56,114

Cash invested: $181,720 (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 29412

• Rents YoY: 2.1%
• Active inventory: 301
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $4,933 medium
• Mortgage (P&I): −$3,403
• Tax from tax record: −$113 /mo · $1,359/yr
• Insurance: −$270
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,036
• Net cashflow: $44

Break-even live

Break-even rent $4,878

Max offer price $649,000

Occupancy floor 94%

Sensitivity live

Price	-10% $411	-5% $227	+0% $44	+5% $-878	+10% $-1,103
Rent	-10% $-346	-5% $-151	+0% $44	+5% $239	+10% $433
Rate	-1.0pp $371	-0.5pp $209	base $44	+0.5pp $-124	+1.0pp $-295

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1255 Harbor View Ln Charleston, SC	3.0	3.0	2010	$6,800	$3.38	16d	1	0.59mi
1129 Quail Dr Charleston, SC	4.0	3.0	1475	$5,200	$3.53	25d	1	0.62mi
753 Sprague St Charleston, SC	3.0	2.0	1680	$4,600	$2.74	25d	1	0.63mi

Listing history 13 events

1. 2026-06-15
   status $649,000 Pending 45 DOM
2. 2026-06-15
   days on market $649,000 Active Under Contract 45 DOM
3. 2026-06-10
   days on market $649,000 Active Under Contract 40 DOM
4. 2026-06-09
   days on market $649,000 Active Under Contract 39 DOM
5. 2026-06-08
   days on market $649,000 Active Under Contract 38 DOM
6. 2026-06-07
   days on market $649,000 Active Under Contract 37 DOM
7. 2026-06-05
   days on market $649,000 Active Under Contract 34 DOM
8. 2026-06-03
   days on market $649,000 Active Under Contract 33 DOM
9. 2026-06-01
   days on market $649,000 Active Under Contract 31 DOM
10. 2026-05-31
    days on market $649,000 Active Under Contract 30 DOM
11. 2026-05-04
    historical Active Under Contract
12. 2026-05-01
    listed $649,000 Active
13. 1987-07-08
    soldstatus $85,000

ⓘ 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: $1,359 · $113/mo
• Projected year-2 tax: $3,699 · $308/mo
• Expected delta: +$2,340/yr (+$195/mo · 172.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 91% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $59,200
• − Mortgage interest: −$36,354
• − Property taxes: −$1,359
• − Insurance: −$4,042
• − Repairs & maintenance: −$4,736
• − Management: −$4,736
• − Depreciation: −$18,880
• Taxable loss: −$10,908
• Est. tax savings @ 24.0%: +$2,618
• After-tax cash flow: $3,143/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 — James Island

• Score: 70/100
• State rank: #64
• US rank: #7731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: James Island, SC
• County: Charleston County · 366,793 people
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 39,256
• Household income: $101,509
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 1006.0

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 (74%)
• Race & ethnicity: White 74% Black 16% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -564.80%
• Current HPI: 400.0617
• Rent YoY: ▲ 2.06%
• 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

+663.5% since first listed

3 events — show timeline

• 2026-05-04 Contingent — Charleston Trident MLS
• 2026-05-01 Listed $649,000 Charleston Trident MLS
• 1987-07-08 Sold (Public Records) $85,000 Public Records

Property tax history

-0.4%/yr

Latest (2022): $1,359 · -6.5% YoY. Source: county tax records.