2063 S Live Oak Dr

Moncks Corner, SC 29461

$179,900B

3 bd · 2.0 ba · 1,344 sqft · Built 1997 · Manufactured · Active · 262 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,128/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$185
• HOA: −$0
• Vac / Maint / Mgmt: −$447
• Net cashflow: $553/mo
• Annual: $6,638/yr
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• 1% rule: 1.18%
• Cash to close: $50,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 262 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#99 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities F, commute F.
• 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: Whitesville Elementary (math 34% / reading 39%, grade F, #328 of 597 statewide, top 55%, 1,031 students, 62% FRL); Berkeley Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 1,403 students, 57% FRL); Berkeley High (math 36% / reading 83%, grade C+, #110 of 196 statewide, top 58%, 1,776 students, 50% FRL).
• Market conditions: Rents rising (+2.8%/yr); 642 active listings in the ZIP; solid renter incomes; 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.
• 2 sale attempts; this cycle's ask has dropped $45k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $180k implies a 386% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 97% 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.
• Cap rate 10.0% vs local median 4.3% in Moncks Corner — 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.
• This rent runs 31% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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 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.