135 Dowling Ave · Walterboro, SC 29488

$229,900

4 bd · 1.0 ba · 1,540 sqft · SingleFamily public records · 15 Days on market

Built 1979

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +6.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON MARKET DUE TO PREVIOUS BUYER FINANCING!Welcome to 135 Dowling Avenue - an adorable, updated cottage just steps from beautiful downtown Walterboro. As you drive up to the home, you will notice the charming front porch, complete with a swing and all the Charleston charm. Entering the home, you will be greeted with original, refinished hardwood floors in the combined family room/dining room, with an adjacent kitchen. Updated cabinetry, tile flooring, stainless steel appliances (including refrigerator) make this kitchen the perfect space to entertain.3 bedrooms are down the hallway, all with the original, refinished hardwood floors and a full bathroom. Adjacent to the kitchen is the laundry room, with washer and dryer to convey!A recent addition includes an oversized mawith an oversize walk-in closet and new master bath with sliding barn door. This charming home also has a large backyard, partially fenced in, and beautiful old trees, and just a short walk away from both Mayfield Terrace Park and the Walterboro Wildlife Sanctuary. Come see this adorable home before it's gone!

Key facts

• Built 1979
• Listed 15 days

Property features AI

Exterior

• Parking: Off-street parking
• Home design: Single-family detached home; One level
• Exterior features: Lot size up to 0.5 acre; No other structures on the property

Interior

• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heating
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#269 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Colleton 01 (rural): math 13% / reading 28% proficiency, ranked #69 of 80 in SC (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Forest Hills Elementary (math 17% / reading 24%, grade F, #490 of 597 statewide, top 82%, 469 students, 100% FRL); Colleton County Middle (math 8% / reading 18%, grade F, #210 of 229 statewide, top 93%, 1,121 students, 100% FRL); Colleton County High (math 28% / reading 80%, grade C-, #137 of 196 statewide, top 70%, 1,497 students, 100% FRL) — zoned schools average 100% FRL vs 69% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 223 active listings in the ZIP; 50 units permitted in Colleton County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Colleton County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $226,451 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 1.15% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-16,162
• Equity at exit: $34,279

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $13,476
• Equity at exit: $19,878

Cash invested: $64,372 (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 29488

• Home prices YoY: -33.6%
• Active inventory: 223
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,636 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$452 /mo · $5,425/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $329

Break-even live

Break-even rent $2,220

Max offer price $229,900

Occupancy floor 83%

Sensitivity live

Price	-10% $459	-5% $394	+0% $329	+5% $264	+10% $199
Rent	-10% $121	-5% $225	+0% $329	+5% $433	+10% $537
Rate	-1.0pp $445	-0.5pp $387	base $329	+0.5pp $269	+1.0pp $209

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $229,900 Active 15 DOM
2. 2026-06-18
   days on market $229,900 Active 13 DOM
3. 2026-06-17
   days on market $229,900 Active 12 DOM
4. 2026-06-16
   days on market $229,900 Active 11 DOM
5. 2026-06-15
   days on market $229,900 Active 10 DOM
6. 2026-06-13
   days on market $229,900 Active 8 DOM
7. 2026-06-12
   days on market $229,900 Active 7 DOM
8. 2026-06-09
   days on market $229,900 Active 4 DOM
9. 2026-06-08
   remarks 149-char remark
10. 2026-06-08
    days on market $229,900 Active 3 DOM
11. 2026-06-08
    remarks 116-char remark
12. 2026-06-08
    listed $229,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $5,425 · $452/mo
• Projected year-2 tax: $5,425 · $452/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 8/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $31,632
• − Mortgage interest: −$12,878
• − Property taxes: −$5,425
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,531
• − Management: −$2,531
• − Depreciation: −$6,688
• Taxable income: $430
• Est. tax owed @ 24.0%: −$103
• After-tax cash flow: $3,844/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: Colleton 01
• NCES district ID: 4501830
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 28% ▬ 0.00%
• Median HH income: $33,128
• Composite: 16.66/100
• National rank: #9171
• State rank: #69 of 80 in SC

Livability — Walterboro

• Score: 57/100
• State rank: #269
• US rank: #21618

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walterboro, SC
• City population: 22,367
• Population (ZIP): 22,367

Population outlook (Colleton County) Hauer SSP2

• Today (2025): 34,932 people
• By 2030: 33,078 · -5.3%
• By 2040: 29,017 · -16.9%
• By 2050: 25,029 · -28.3%
• By 2075: 16,894 · -51.6%
• By 2100: 10,518 · -69.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 54% Black 38% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Colleton

• 2024 margin: R (+18.2) · D 40.4% · R 58.5% · Other 1.1%
• 2008→2024 swing: -18.7pp toward R · 2008: 0.5pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+9.5 2016: R+8.5 2012: D+0.2 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.20%
• Current HPI: 235.1237
• Rent YoY: —
• Metro: —
• 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

+474.7% since first listed

31 events — show timeline

• 2026-06-04 Listed $229,900 Charleston Trident MLS
• 2023-06-23 Sold (Public Records) $265,000 Public Records
• 2023-06-09 Sold (MLS) $265,000 Charleston Trident MLS
• 2023-04-24 Contingent — Charleston Trident MLS
• 2023-04-04 Relisted — Charleston Trident MLS
• 2023-03-08 Contingent — Charleston Trident MLS
• 2023-02-23 Price Changed $265,000 Charleston Trident MLS
• 2023-02-02 Price Changed $266,900 Charleston Trident MLS
• 2023-01-05 Price Changed $269,900 Charleston Trident MLS
• 2022-12-13 Relisted — Charleston Trident MLS
• 2022-12-13 Listing Removed — Charleston Trident MLS
• 2022-12-12 Relisted — Charleston Trident MLS
• 2022-12-10 Listed $274,900 Charleston Trident MLS
• 2021-10-22 Sold (Public Records) $212,000 Public Records
• 2021-09-30 Sold (MLS) $212,000 Charleston Trident MLS
• 2021-08-26 Contingent — Charleston Trident MLS
• 2021-08-20 Price Changed $224,000 Charleston Trident MLS
• 2021-08-15 Price Changed $229,500 Charleston Trident MLS
• 2021-08-06 Price Changed $234,400 Charleston Trident MLS
• 2021-08-03 Relisted — Charleston Trident MLS
• 2021-07-23 Contingent — Charleston Trident MLS
• 2021-07-20 Price Changed $234,900 Charleston Trident MLS
• 2021-07-08 Relisted — Charleston Trident MLS
• 2021-07-07 Contingent — Charleston Trident MLS
• 2021-07-04 Price Changed $239,000 Charleston Trident MLS
• 2021-07-01 Price Changed $244,000 Charleston Trident MLS
• 2021-06-23 Listed $249,000 Charleston Trident MLS
• 2020-11-23 Sold (Public Records) $45,000 Public Records
• 2020-11-20 Sold (MLS) $45,000 Charleston Trident MLS
• 2020-10-09 Pending — Charleston Trident MLS
• 2020-10-07 Listed $40,000 Charleston Trident MLS

Property tax history

+18.1%/yr

Latest (2025): $5,425 · +2.7% YoY. Source: county tax records.