North Charleston Market Insight

[Carl Fitzgerald]

Hi All,

Just purchased my first property and moved from San Diego to Charleston. My wife and I got a duplex downtown and are house hacking one unit. 
Looking to add another property. I don’t quite have enough capitol for another property downtown and am currently looking at multi families in North Charleston. 
Goal is long term rental buy and hold. Ultimately build equity by having tenants cover mortgage. I am not necessarily looking to cashflow immediately. 
Plan is to buy just outside the most desirable area (downtown) in an up and coming neighborhood. I think that areas on the outskirts of desirable cities where many people are moving (ie: Charleston) have great long term potential, as eventually people start to rent right outside the downtown area when prices rise. 

Does anyone have general thoughts on this strategy? 
Thoughts on market expectations for North Charleston?

Any insight on this specific market or recommendations for particular zips or neighborhoods with strong potential?

Thanks!

[Patrick Roberts]

I agree with @Peter H Derry, the neck area will boom over the next 5-10 years. Same with areas along N CHS along the rivers - there are major developments going in on both riverbanks. The neighborhoods between Park Circle and Hanahan will likely do well long term as well. 

There is a gutted duplex that is just sitting in my neighborhood on Nunan St downtown right now. I believe its FSBO. I havent looked into it, but the location is solid. Just gotta watch the flooding on that part of the street.