Capers Blade Plan · Kiawah Island, SC 29455

$1

5 bd · 4.5 ba · 3,780 sqft · SingleFamily · 38 Days on market

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

A deep porch and generous foyer invite you in, leading to light-filled breezeways and grand windows that bathe the living spaces in natural light, effortlessly blending indoor and outdoor areas. The first floor boasts a gourmet kitchen with an adjoining scullery, Calacatta marble countertops, and a large island are a stunning blend of artistry and function. At the heart of the home, a custom plaster fireplace with a stone hearth offers a luxurious setting for relaxation and entertaining. The main-level primary suite is a private sanctuary with a spa-like bathroom featuring hardwood and Calacatta marble floors, dual walk-in closets, and a private coffee bar. Upstairs, two additional bedrooms

Key facts

• Observation tower
• Gourmet kitchen
• Spa-like bathroom

Tags

• GOURMET KITCHEN
• CUSTOM PLASTER FIREPLACE
• SPA-LIKE BATHROOM
• PRIVATE COFFEE BAR
• OBSERVATION TOWER
• ELEVATOR ACCESS

Property features AI

Finance

• Other: Listing status: Active; Plan inventory type

Exterior

• Parking: 2 parking spaces
• Home design: Capers Blade plan (new construction plan); Located at 2501 Mullet Hall Dr, Johns Island, SC

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 4 full bathrooms and 1 half bathroom
• Interior features: Open living area (3,780 finished area)

🏗️ New construction. The $1 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $2,755,620.

What this means for you Summary

Snapshot

• This is a 5-bed/4.5-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-16k ($-197k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1).
• Cap rate -0.9% vs local median 0.0% in Kiawah Island — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 64/100 on livability (#154 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute 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: Montessori Community School (math 67% / reading 77%, grade A-, #26 of 597 statewide, top 5%, 273 students, 24% 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 75% FRL vs 44% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 586 active listings in the ZIP; high-income renter base; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 33% of the median local income ($121k/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 $19k of loan paydown is wiped out by about $83k 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 38 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4133430.0% of price.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.12% ✗
• Cap rate: -0.86%
• Cash-on-cash: -25.55%
• DSCR: -0.14
• GRM: 69.4

CMA / ARV

• ARV (on-the-fly): $2,755,620
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3008 Eventide Dr	0.31mi	5/4.5	3,900 (+3%)	18mo	$5,399,000	$1,384	66
5761 Kiawah River Dr	0.42mi	5/5.5	3,669 (-3%)	19mo	$1,950,000	$531	56
4054 Drift Ln	0.44mi	4/4.5 (-1)	3,633 (-4%)	15mo	$2,650,000	$729	56
1006 Basin Ln	0.42mi	4/4.5 (-1)	3,342 (-12%)	12mo	$2,530,000	$757	46
4039 Chantey Crst	0.60mi	4/3.5 (-1)	3,253 (-14%)	3mo	$1,749,500	$538	37
6037 Honey Hole Hvn	0.52mi	4/3.5 (-1)	3,253 (-14%)	17mo	$1,600,000	$492	30

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: -74.1%
• Equity multiple: -0.94×
• Total profit: $-1,493,112
• Equity at exit: $410,872

10-year hold

• IRR: —
• Equity multiple: -2.43×
• Total profit: $-2,648,148
• Equity at exit: $238,256

Cash invested: $771,574 (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: 586

Monthly cashflow live

• Estimated rent: $3,308 medium
• Mortgage (P&I): −$14,451
• Tax est. 1.5%: −$3,445 /mo · $41,334/yr
• Insurance: −$1,148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$695
• Net cashflow: $-16,430

Break-even live

Break-even rent $24,106

Max offer price $378,101

Occupancy floor —

Sensitivity live

Price	-10% $-14,526	-5% $-15,478	+0% $-16,430	+5% $-17,383	+10% $-18,335
Rent	-10% $-16,692	-5% $-16,561	+0% $-16,430	+5% $-16,300	+10% $-16,169
Rate	-1.0pp $-15,043	-0.5pp $-15,730	base $-16,430	+0.5pp $-17,145	+1.0pp $-17,871

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: $688,905
• Closing costs: $82,669
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-22
   days on market $1 Active 38 DOM
2. 2026-06-18
   days on market $1 Active 35 DOM
3. 2026-06-17
   days on market $1 Active 34 DOM
4. 2026-06-16
   days on market $1 Active 33 DOM
5. 2026-06-15
   days on market $1 Active 32 DOM
6. 2026-06-10
   days on market $1 Active 27 DOM
7. 2026-06-09
   days on market $1 Active 26 DOM
8. 2026-06-08
   days on market $1 Active 25 DOM
9. 2026-06-07
   days on market $1 Active 24 DOM
10. 2026-06-05
    days on market $1 Active 21 DOM
11. 2026-06-03
    days on market $1 Active 20 DOM
12. 2026-06-01
    days on market $1 Active 18 DOM
13. 2026-05-31
    days on market $1 Active 17 DOM

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

Taxation est. · year 1

• Rental income: $39,691
• − Mortgage interest: −$154,358
• − Property taxes: −$41,334
• − Insurance: −$13,778
• − Repairs & maintenance: −$3,175
• − Management: −$3,175
• − Depreciation: −$80,163
• Taxable loss: −$256,293
• Est. tax savings @ 24.0%: +$61,510
• After-tax cash flow: $-135,656/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 — Kiawah Island

• Score: 64/100
• State rank: #154
• US rank: #14517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charleston County · 366,793 people
• 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