120 Princess Ln

Wyboo, SC 29436

$245,000D-

3 bd · 2.5 ba · 2,324 sqft · Built 2003 · Manufactured · Active · 233 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,648/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-158/mo
• Annual: $-1,902/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• 1% rule: 0.67%
• Cash to close: $68,600

Investor read

• This is a 3-bed/2.5-bath manufactured listed at $245k.
• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (32.7% below list).
• It's been on market 233 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (32.7% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.6% local appreciation)).
• Location reads: area grade D — 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: 62 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.
• 8 sale attempts since 14y ago; this cycle's ask has dropped $40k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 233 days. Have you received any prior offers? Is the seller open to a 33% 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.