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- 🏢 Charleston, SC Multifamily Update – May 8, 2025
🏢 Charleston, SC Multifamily Update – May 8, 2025
What Happened in the Last 24 Hours?
Nick Fitzpatrick
May 08, 2025
Good morning - this is your Charleston Multifamily Update for May 8th, 2024, covering the latest data from the past 24 hours.
Whether you’re actively buying, thinking about selling, or just keeping tabs on the market, this report gives you:
Financing Rates: From FHA, VA, and DSCR to Commercial and Bridge Loans
New Listings, Price Reductions, and Pending Deals: So you know what’s moving and how long it’s taking.
Rental Activity: Because rents drive your cash flow. (this section to come in near future; working out data sources)
All data is pulled from the Charleston-Trident MLS, Crexi, Loopnet and lending sources as of the past 24 hours.
Debt & Market Pulse
If you're considering investing in multifamily properties in the Charleston, SC metro, here’s the latest on rates and financing options:
Please note that mortgage rates can vary based on individual circumstances and lender offerings. It's advisable to consult with a mortgage professional for the most accurate and personalized information. Text me if you need a recommendation 843-957-5989
Buyer Type | Loan Product | Rate | Change | Notes |
|---|---|---|---|---|
House Hackers | FHA (3.5% Down) | 6.25% | ↓ 3 bps (DoD) | Lower down payment; lender scrutiny on multi-unit FHA deals |
VA (0% Down) | 6.27% | ↓ 3 bps (DoD) | Exclusive to veterans; 100% financing | |
Conventional (5–25% Down) | 6.86% | ↓ 2 bps (DoD) | Owner-occupied, primary residence | |
Investors | Conventional (25% Down, Non-O/O) | 7.11% – 7.36% | ↓ 2–4 bps est. | 25–50 bps premium over owner-occupied rates |
DSCR / LLC (Fixed or ARM) | 6.75% – 8.50% | Flat | Based on cash flow and structure; interest-only popular | |
Commercial Buyers | Bank / Portfolio (5–7 Yr Fixed) | 6.37% – 6.87% | 5Y = 3.87% | Based on 5Y Treasury + spread (2.5–3%) |
Freddie / Fannie (10-Yr Fixed) | 6.76% – 7.26% | 10Y = 4.26% | Based on 10Y Treasury + spread (2.5–3%) | |
Bridge / Debt Fund (Floating) | 8.82% – 11.32% | SOFR = 5.32% | Based on SOFR + spread (3.5–6%) |
Benchmark Rates
5-Year Treasury: 3.87%
10-Year Treasury: 4.26%
SOFR: 5.32%
Market Overview
Active Inventory
94 listings currently on the market in the tri-county
Inventory includes a wide range from turnkey 2-unit properties to 10+ unit value-add plays
Pending Listings
1 new pending today
35 total active pending/contingent deals
New Listings
No new listings today.
Price Adjustments
• North Charleston 29406 – 8589 Lake Marion Dr. (4 units) dropped from $875,000 to $830,000 (5.1% reduction)
• Westminster (29693) – 14 Gazebo Dr. (2 units) increased from $310,000 to $319,000 (+2.9%)
• Charleston (29403) – 58 America St. (2 units) dropped from $895,000 to $875,000 (2.2% reduction)
New Pending Deal (Past 24 Hours)
• Charleston (29401) – 125 Ashley Ave
• Listed at $1,350,000 | Under contract after 13 DOM
Sold Transactions
• Hanahan (29410) – 2 units sold for $425,000
• 2 units | $212,500 per door
Thinking of Selling?
🏠 Get a Complimentary Property Evaluation – I’ll show you what your property could sell for in today’s market.
📞 Call/Text Nick Fitzpatrick at 843-957-5989 or just reply to this email to start the conversation.
Looking to Buy?
1) Let’s Find the Right Deal for You – I help investors find on-market and off-market multifamily properties across Charleston, SC and the Carolinas.
2) Reach out anytime to discuss your goals.
I run this update every weekday because I believe knowing the market is the first step to making smarter investments.
If I can help you buy, sell, or better understand your property’s value, let’s talk.
Best,
Nick Fitzpatrick
Real Estate Broker
NorthGroup Real Estate
SC # 128053 | NC # 339118