1054 Edgewater Rd

Wyboo, SC 29468

$269,000B+

12 bd · 12.0 ba · 8,186 sqft · Built 1977 · MultiFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,551/mo
• Mortgage (P&I): −$1,411
• Tax + insurance: −$448
• HOA: −$0
• Vac / Maint / Mgmt: −$956
• Net cashflow: $1,736/mo
• Annual: $20,835/yr
• Cap rate: 14.04%
• Cash-on-cash: 27.66%
• DSCR: 2.23
• 1% rule: 1.69%
• Cash to close: $75,320

Investor read

• This is a 3 × 4-bed/?-bath units multifamily listed at $269k.
• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $579/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $269k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $11k of equity ($2k loan paydown + $10k appreciation (3.6% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Berkeley 01 (suburban): math 35% / reading 48% proficiency, ranked #30 of 80 in SC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cross Elementary (math 8% / reading 27%, grade F, #514 of 597 statewide, top 86%, 348 students, 100% FRL); Cross High (math 12% / reading 42%, grade F, #193 of 196 statewide, top 98%, 294 students, 100% FRL) — zoned schools average 100% FRL vs 48% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 42% district-wide (-19 pts) — the specific schools serving this property underperform the Berkeley 01 average; the district grade overstates school quality for this exact location.
• Market conditions: 19 active listings in the ZIP; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.