1113 Melvin Dr · Hanahan, SC 29410

$269,900

3 bd · 2.0 ba · 1,970 sqft · Other · 2 Days on market

Built 1955 0.44 ac lot

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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 +13.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman Special! Spacious home with unlimited potential. This home is being sold AS IS! Roof is only 4 years old. This property also includes TMS#265-16-04-028 to make acerage over .40/acre.

Key facts

• Convenient access
• Generous floor plan
• 0.44 acre lot

Tags

• SPACIOUS 0.44 ACRE LOT
• GENEROUS FLOOR PLAN
• CONVENIENT ACCESS
• LESS THAN 2 MILES FROM I-526

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer
• Home design: Single-family detached home; One story; Ground-level entry; Fee simple ownership
• Construction: Asphalt roof
• Exterior features: Shed(s); Interior lot; Lot size under 0.5 acre

Interior

• Bedrooms: 3 bedrooms with the primary bedroom on the lower level
• Bathrooms: 2 bathrooms
• Interior features: Family room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $270k.

Deal economics

• At list price, monthly cash flow is $18 ($215/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 $238k (11.7% below list).
• Recommended offer: $238k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.6% in Hanahan — 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 72/100 on livability (#45 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, health & safety A-; Watch: amenities F, commute F.
• Berkeley 01 (suburban): math 35% / reading 48% proficiency, ranked #30 of 80 in SC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hanahan Elementary (math 41% / reading 40%, grade F, #286 of 597 statewide, top 49%, 923 students, 66% FRL); Hanahan Middle (math 43% / reading 47%, grade D, #48 of 229 statewide, top 22%, 793 students, 39% FRL); Hanahan High (math 52% / reading 87%, grade B, #60 of 196 statewide, top 32%, 1,040 students, 29% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents rising fast (+4.6%/yr); 72 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).
• This rent runs 33% of the median local income ($88k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $90k; list at $270k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,373 (11.7% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.63% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-38,585
• Equity at exit: $40,243

10-year hold

• IRR: -2.8%
• Equity multiple: 0.80×
• Total profit: $-15,129
• Equity at exit: $23,336

Cash invested: $75,572 (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 29410

• Rents YoY: 4.6%
• Active inventory: 72
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,384 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $18

Break-even live

Break-even rent $2,361

Max offer price $269,900

Occupancy floor 94%

Sensitivity live

Price	-10% $204	-5% $111	+0% $18	+5% $-75	+10% $-169
Rent	-10% $-170	-5% $-76	+0% $18	+5% $112	+10% $206
Rate	-1.0pp $154	-0.5pp $87	base $18	+0.5pp $-52	+1.0pp $-123

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 Sumner Ave North Charleston, SC	3.0	2.5	1616	$2,420	$1.50	4d	3	0.41mi
5739 N Murray Ave Lot 7 Hanahan, SC	3.0	2.5	1380	$2,295	$1.66	16d	1	0.44mi
5739 N Murray Ave Lot 7 Hanahan, SC	3.0	2.5	1380	$2,295	$1.66	25d	1	0.44mi
5653 Sablewood St North Charleston, SC	3.0–4.0	2.5–3.5	1770	$2,152	$1.22	5d	1	0.78mi
5682 Sablewood ST Unit Collins Charleston, SC	3.0	2.5	1941	$2,372	$1.22	25d	1	0.80mi
1149 Sumner Ave North Charleston, SC	3.0	2.5	2307	$2,850	$1.24	23d	1	1.07mi
5049 Spaniel Dr North Charleston, SC	3.0	2.5	2210	$4,000	$1.81	16d	1	1.26mi
4840 Upjohn RD North Charleston, SC	2.0–3.0	1.0–2.0	1066	$1,300	$1.22	25d	1	1.49mi

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $269,900 Active 2 DOM

ⓘ 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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $28,605
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,288
• − Management: −$2,288
• − Depreciation: −$7,852
• Taxable loss: −$4,340
• Est. tax savings @ 24.0%: +$1,042
• After-tax cash flow: $1,257/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: Berkeley 01
• NCES district ID: 4501170
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $52,724
• Composite: 35.95/100
• National rank: #4799
• State rank: #30 of 80 in SC

Livability — Hanahan

• Score: 72/100
• State rank: #45
• US rank: #6201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanahan, SC
• County: Berkeley County · 198,768 people
• City population: 21,314
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 21,314
• Household income: $87,984
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 727.0

Population outlook (Berkeley County) Hauer SSP2

• Today (2025): 254,184 people
• By 2030: 279,677 · +10.0%
• By 2040: 329,379 · +29.6%
• By 2050: 375,557 · +47.8%
• By 2075: 476,740 · +87.6%
• By 2100: 535,945 · +110.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Black 9% Asian 4% Two or more races 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1% Cuban 1%
• Common ancestry: Serbian 5% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 10% Other Asian/Pacific 1% Vietnamese 1%

Political lean MEDSL · Berkeley

• 2024 margin: R (+16.3) · D 41.1% · R 57.4% · Other 1.4%
• 2008→2024 swing: -3.2pp toward R · 2008: -13.1pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+11.7 2016: R+17.4 2012: R+18.9 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.05%
• Current HPI: 326.9496
• Rent YoY: ▲ 4.63%
• 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

+92.9% since first listed

6 events — show timeline

• 2026-06-19 Listed $269,900 Charleston Trident MLS
• 2008-05-21 Sold (Public Records) $90,000 Public Records
• 2008-05-16 Sold (MLS) $90,000 Charleston Trident MLS
• 2007-11-13 Listed $99,900 Charleston Trident MLS
• 2007-09-13 Listing Removed — Charleston Trident MLS
• 2007-05-19 Listed $139,900 Charleston Trident MLS

Property tax history

+2.9%/yr

Latest (2025): $16 · +3.1% YoY. Source: county tax records.