Charleston hub: Program terms and Lowcountry risk at hard money lenders Charleston · Charleston flood zone financing guide · fix and flip South Carolina.
This funded fix-and-flip in Park Circle, North Charleston shows how Lowcountry operators win on basis discipline and flood verification — not on assuming peninsula ARV premiums on a Zone X bungalow.
Deal summary
| Stage | Detail |
|---|---|
| Acquisition | $218,000 — 1954 3/2, one-owner estate |
| Rehab | $64,000 documented scope |
| Hard money | 90% LTC · 10.25% IO · 13-month term |
| ARV | $325,000 supported by 3 sold comps within 0.4 mi |
| Resale | $322,500 at 38 DOM |
| Net spread (approx.) | $34,000 after carry and sale costs |
Spoke: hard money loans Park Circle · Metro: North Charleston.
Why Park Circle in 2026
Park Circle combines Noisette redevelopment narrative, brewery and restaurant walkability, and 1950s ranch/bungalow stock without peninsula historic review timelines. Buyers are joint-base professionals and port-adjacent workers who want North Charleston basis with 10-minute access to I-526.
Banks declined the file for galvanized plumbing and short close — hard money closed Day 8.
Flood and insurance diligence
- FEMA zone: X (unshaded) — no mandatory flood policy
- Sponsor still bound wind/hail at $3,100/yr — modeled in flip carry
- Elevation certificate: Not required; kept in file for future buyer DSCR hold option
Compare Charleston flood zone guide — a Zone AE acquisition at same gross rent would have added $220–$380/mo insurance load and killed flip margin.
Rehab scope highlights
| Line | Budget | Actual |
|---|---|---|
| Kitchen + baths | $22,000 | $23,400 |
| HVAC + electrical panel | $14,500 | $14,500 |
| Flooring + paint | $11,000 | $10,800 |
| Exterior + landscaping | $8,500 | $8,200 |
| Sewer lateral (unplanned) | $4,000 contingency | $4,200 |
Lesson: North Charleston 1950s stock often needs lateral scope — budget contingency in Draw 1, not at listing.
Carry and sale economics
- All-in basis: $218K + $64K = $282,000
- Carry: 7 months @ 90% LTC on ~$260K avg balance @ 10.25% ≈ $12,400 interest
- Sale: $322,500 less 7% friction ($22,575) → $299,925 net proceeds
- Bridge payoff + carry → ~$34K net to sponsor
Plan B (not executed): Stabilize at $2,350/mo and DSCR refi — flip spread cleared 12% gross threshold; resale won.
Comp discipline
Appraiser and buyer agent both constrained ARV to $320K–$330K on Park Circle ranch stock — sponsor did not import Mount Pleasant premiums. Three comps:
- $318K — 3/2 renovated, 0.3 mi, 41 DOM
- $329K — 3/2 + garage, 0.5 mi, 28 DOM
- $327K — 3/2 corner lot, 0.4 mi, 35 DOM
Takeaways for Charleston flippers
- Verify flood zone before LOI — ARV means nothing if insurance destroys NOI.
- Park Circle ≠ peninsula — separate comp map, separate buyer pool.
- Model BRRRR pivot when gross margin falls under 12% — use DSCR calculator.
- Entity close — LLC vesting standard; personal guarantee on sponsor’s third Charleston file.
Related
- Best hard money lenders Charleston 2026
- SC neighborhoods flipping 2026
- Blog: Charleston historic rehab timeline
Pre-Qualify for Charleston Hard Money · (833) 264-7776
Rates, terms and conditions offered only to qualified borrowers. Jaken Finance Group only finances non-owner occupied investment properties.