1018 Martin Luther King Rd · Litchfield Beach, SC 29585

$250,000

4 bd · 2.0 ba · 2,280 sqft · Manufactured · 282 Days on market

Built 2016 1.00 ac lot ↓ 29% since listing

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Why this score? — see what drove the C+ 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).

• Cash flow +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ROOMY AND SPACIOUS MOBILE HOME. LOVELY INTERIOR WITH GREAT FEATURES: A FIREPLACE, GARDEN TUB, DOUBLE SINKS IN THE BATHROOMS, CARPET, AS WELL AS HARDWOOD FLOORS, AND A SEPARATE DINING AREA. LOCATED ON ALMOST AN ACRE OF LAND TO EXPAND THE BACK YARD AND COMPLETE THE CONCRETE PATIO SPACE.

Key facts

• Double sinks
• Hardwood floors
• Fireplace

Tags

• FIREPLACE
• GARDEN TUB
• DOUBLE SINKS
• HARDWOOD FLOORS
• SEPARATE DINING AREA
• ALMOST AN ACRE OF LAND

Property features AI

Finance

• Other: Property is listed for sale
• HOA & community: Association fees billed monthly

Exterior

• Parking: Driveway; 2 total parking spaces
• Utilities: Electricity available; Sewer available; Public water available
• Home design: Double wide mobile home; Model: 2016 SCOTBLT 30X76
• Construction: Brick veneer and masonry exterior; Brick/mortar foundation; Crawlspace
• Exterior features: Patio; One or more acres; City lot; Irregular lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Range hood; Refrigerator; Pantry; Kitchen exhaust fan
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air (cooling)
• Interior features: Furnished; Window treatments; Breakfast bar; Solid surface counters; Fireplace
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 1.8% in Litchfield Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Georgetown 01 (town): math 26% / reading 38% proficiency, ranked #51 of 80 in SC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 392 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 323 units permitted in Georgetown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 282 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.25% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.85%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $7,286
• Equity at exit: $37,276

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $68,021
• Equity at exit: $21,615

Cash invested: $70,000 (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 29585

• Home prices YoY: -29.0%
• Active inventory: 392
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $3,136 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $750

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 71%

Sensitivity live

Price	-10% $922	-5% $836	+0% $750	+5% $663	+10% $577
Rent	-10% $502	-5% $626	+0% $750	+5% $874	+10% $997
Rate	-1.0pp $876	-0.5pp $813	base $750	+0.5pp $685	+1.0pp $619

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Parkglen Dr Pawleys Island, SC	5.0	3.0	2400	$3,500	$1.46	24d	1	0.48mi
166 Tall Pines Way Pawleys Island, SC	3.0	2.5	1750	$2,500	$1.43	14d	1	0.67mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $250,000 Pending 282 DOM
2. 2026-06-03
   days on market $250,000 Active Under Contract 280 DOM
3. 2026-06-02
   days on market $250,000 Active Under Contract 279 DOM
4. 2026-06-01
   days on market $250,000 Active Under Contract 278 DOM
5. 2026-05-31
   days on market $250,000 Active Under Contract 277 DOM
6. 2026-05-30
   days on market $250,000 Active Under Contract 276 DOM
7. 2026-05-11
   historical Active Under Contract
8. 2026-05-11
   price $250,000
9. 2026-04-29
   price $260,000
10. 2025-12-25
    price $270,000
11. 2025-10-02
    price $325,000
12. 2025-08-27
    listed $350,000 Active

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,631
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,011
• − Management: −$3,011
• − Depreciation: −$7,273
• Taxable income: $5,334
• Est. tax owed @ 24.0%: −$1,280
• After-tax cash flow: $7,716/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: Georgetown 01
• NCES district ID: 4502280
• Math proficiency: 26% ▼ -11.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $43,045
• Composite: 27.15/100
• National rank: #7030
• State rank: #51 of 80 in SC

Livability — Litchfield Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Litchfield Beach, SC
• Population (ZIP): 17,346

Population outlook (Georgetown County) Hauer SSP2

• Today (2025): 63,275 people
• By 2030: 63,630 · +0.6%
• By 2040: 63,130 · -0.2%
• By 2050: 61,904 · -2.2%
• By 2075: 59,305 · -6.3%
• By 2100: 53,852 · -14.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Romanian 3% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Georgetown

• 2024 margin: R (+19.5) · D 39.6% · R 59.1% · Other 1.2%
• 2008→2024 swing: -14.2pp toward R · 2008: -5.2pp · 2024: -19.5pp
• All cycles: 2024: R+19.5 2020: R+12.7 2016: R+13.0 2012: R+7.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.24%
• Current HPI: 211.3537
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-28.6% since first listed

6 events — show timeline

• 2026-05-11 Contingent — CCAR
• 2026-05-11 Price Changed $250,000 CCAR
• 2026-04-29 Price Changed $260,000 CCAR
• 2025-12-25 Price Changed $270,000 CCAR
• 2025-10-02 Price Changed $325,000 CCAR
• 2025-08-27 Listed $350,000 CCAR

Property tax history

-7.4%/yr

Latest (2025): $79 · +4.9% YoY. Source: county tax records.