Deal snapshot
| Location | Park Circle, North Charleston, SC |
| Property type | 1954 3/2 bungalow |
| Loan type | Fix-and-flip hard money |
| Loan amount | $282,000 all-in (90% LTC) |
| Close time | 8 business days |
Investor challenge
The sponsor needed 8-day close on a 1954 Park Circle bungalow with galvanized plumbing and an estate timeline. Banks declined for condition and speed; ARV had to be constrained to Park Circle comps — not peninsula premiums — while flood diligence had to be documented before permanent debt or resale.
Jaken’s solution
Jaken funded 90% LTC at 10.25% IO with four milestone draws and a 13-month term. Flood zone verification (Zone X), wind/hail insurance quotes, and sewer lateral contingency were modeled in carry before term sheet.
Outcome
Property resold at $322,500 in 38 DOM after $64,000 rehab — ~$34,000 net to sponsor after carry and 7% sale friction.
Charleston hub: hard money lenders Charleston · Charleston flood zone guide
Deal summary
| Stage | Detail |
|---|---|
| Acquisition | $218,000 |
| Rehab | $64,000 |
| Resale | $322,500 at 38 DOM |
| Net spread | ~$34,000 |
Spoke: hard money loans Park Circle
Rehab scope highlights
| Line | Budget | Actual |
|---|---|---|
| Kitchen + baths | $22,000 | $23,400 |
| HVAC + electrical panel | $14,500 | $14,500 |
| Sewer lateral (unplanned) | $4,000 contingency | $4,200 |
Why flood diligence and comp discipline saved the margin
This flip profited on two decisions made before the offer. First, flood-zone verification: the sponsor confirmed Zone X (outside the FEMA special flood hazard area) and still pulled an elevation and flood quote, so there was no surprise insurance line and no SFHA financing friction — exactly the diligence banks wouldn’t underwrite on an 8-day timeline. Second, ARV restraint: comps were held to Park Circle sales, not peninsula premiums a few miles away. Anchoring to the right comp set is what kept the $322,500 resale realistic and the 38-day sale fast.
The deal also budgeted for the unknown. A sewer-lateral contingency ($4,000 planned, $4,200 actual) on a 1954 bungalow meant the galvanized-plumbing surprise didn’t eat the spread. Net result: ~$34,000 after 10.25% carry and 7% selling costs.
Takeaway in the Lowcountry: verify flood and insurance before the LOI, and comp to the neighborhood, not the metro — both are where Charleston flip margins quietly disappear.
Related
- Best hard money lenders Charleston 2026
- Fix and flip South Carolina
- Blog: Charleston historic rehab timeline
Pre-Qualify for Charleston Hard Money · (833) 264-7776