400 Butter Rd · Bonneau Beach, SC 29431

$199,900

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 42 Days on market

Built 1983 Fair condition 0.50 ac lot Est $274k · 27% under

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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 +17.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Bank owned home - sold as is. Property is in need of repairs. Located in between two wooded lots for privacy.

Key facts

• Laminate floors
• Soaking tub
• Front porch

Tags

• ROCK FIREPLACE
• FRONT PORCH
• SOAKING TUB
• LAMINATE FLOORS
• CERAMIC TILE
• CARPET

Property features AI

Exterior

• Parking: Other parking (unspecified)
• Utilities: Septic tank; Santee Cooper electric service
• Home design: Manufactured/mobile home (double wide); Single-story; Residential property
• Construction: Asphalt roof; One-level construction
• Exterior features: Partial fencing; Level lot; Satellite dish; Community dock facilities; Community park; Community trash service

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms; Primary bedroom on lower level
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Beamed ceilings; Cathedral/vaulted ceilings; High ceilings; Ceiling fans; Entrance foyer; Great room; Open living/dining area
• Laundry & utility: Laundry room with washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (1.9% below list).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#219 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, 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: Henry E. Bonner Elementary (math 38% / reading 40%, grade F, #301 of 597 statewide, top 51%, 828 students, 100% FRL); Macedonia Middle (math 23% / reading 43%, grade F, #116 of 229 statewide, top 51%, 383 students, 100% FRL); Timberland High (math 17% / reading 72%, grade F, #166 of 196 statewide, top 87%, 704 students, 100% FRL) — zoned schools average 100% FRL vs 48% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $200k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $273,728
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Butter Rd	0.06mi	3/2.0	1,568 (+8%)	1mo	$242,000	$154	84
546 Pauline Dr	0.49mi	4/2.0 (+1)	1,456 (0%)	0mo	$286,000	$196	72
114 Buck Ln	0.27mi	4/2.0 (+1)	1,624 (+12%)	13mo	$316,000	$195	52
103 Bush Dr	0.61mi	3/2.0	1,325 (-9%)	6mo	$271,000	$205	52
212 Pooshee Plantation Way	0.46mi	3/2.0	1,300 (-11%)	11mo	$145,000	$112	52
454 Pooshee Plantation Way	0.72mi	4/2.0 (+1)	1,440 (-1%)	12mo	$270,000	$188	50
663 Barn Rd	0.43mi	3/2.0	1,674 (+15%)	8mo	$209,000	$125	48
632 Barn Rd	0.40mi	3/2.0	1,248 (-14%)	14mo	$225,000	$180	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 3.14×
• Total profit: $119,549
• Equity at exit: $180,086

10-year hold

• IRR: 23.5%
• Equity multiple: 7.14×
• Total profit: $343,736
• Equity at exit: $388,362

Cash invested: $55,972 (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 29431

• Home prices YoY: 5.6%
• Active inventory: 30
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,960 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $167

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 86%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Hammond St Bonneau, SC	3.0	2.0	1456	$1,950	$1.34	11d	1	0.40mi
206 Canal St Bonneau, SC	4.0	2.0	1560	$2,000	$1.28	23d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $199,900 Active 42 DOM
2. 2026-06-17
   days on market $199,900 Active 41 DOM
3. 2026-06-16
   days on market $199,900 Active 40 DOM
4. 2026-06-15
   days on market $199,900 Active 39 DOM
5. 2026-06-13
   days on market $199,900 Active 37 DOM
6. 2026-06-13
   days on market $199,900 Active 36 DOM
7. 2026-06-10
   pricedays on market $199,900 Active 34 DOM
8. 2026-06-09
   days on market $230,000 Active 33 DOM
9. 2026-06-08
   days on market $230,000 Active 32 DOM
10. 2026-06-07
    days on market $230,000 Active 31 DOM
11. 2026-06-05
    days on market $230,000 Active 28 DOM
12. 2026-06-03
    days on market $230,000 Active 27 DOM
13. 2026-06-03
    days on market $230,000 Active 26 DOM
14. 2026-06-01
    days on market $230,000 Active 25 DOM
15. 2026-05-31
    days on market $230,000 Active 24 DOM
16. 2026-05-07
    listed $230,000 Active
17. 2010-04-29
    soldstatus $42,000 109-char remark

    Show marketing remark (109 chars)

    Bank owned home - sold as is. Property is in need of repairs. Located in between two wooded lots for privacy.

18. 2010-04-01
    listed $42,000 109-char remark

    Show marketing remark (109 chars)

    Bank owned home - sold as is. Property is in need of repairs. Located in between two wooded lots for privacy.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,524
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$5,815
• Taxable loss: −$1,251
• Est. tax savings @ 24.0%: +$300
• After-tax cash flow: $2,306/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms are in poor condition and need major repairs. A new front porch would also significantly improve the home's curb appeal.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major kitchen countertops — outdated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major bathroom tile — dated and in poor condition
• Major front porch — weathered and in need of repair

Value-add opportunities

• Resale new kitchen cabinets, countertops, and appliances — modernizing the kitchen would significantly increase its appeal
• Resale new bathroom fixtures and tile — modernizing the bathrooms would significantly increase its appeal
• Both new front porch — a new front porch would improve curb appeal and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
kitchen countertops · outdated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
bathroom tile · dated and in poor condition	Major	$15,000–50,000
front porch · weathered and in need of repair	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale new kitchen cabinets, countertops, and appliances — modernizing the kitchen would significantly increase its appeal ↑
• Resale new bathroom fixtures and tile — modernizing the bathrooms would significantly increase its appeal ↑
• Both new front porch — a new front porch would improve curb appeal and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Berkeley 01
• NCES district ID: 4501170
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $52,724
• Composite: 35.95/100
• National rank: #4799
• State rank: #30 of 80 in SC

Livability — Bonneau Beach

• Score: 61/100
• State rank: #219
• US rank: #18448

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonneau Beach, SC
• Population (ZIP): 7,376

Population outlook (Berkeley County) Hauer SSP2

• Today (2025): 254,184 people
• By 2030: 279,677 · +10.0%
• By 2040: 329,379 · +29.6%
• By 2050: 375,557 · +47.8%
• By 2075: 476,740 · +87.6%
• By 2100: 535,945 · +110.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 10% Two or more races 7% Asian 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 1% · South Korea
• Languages at home: 99% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Berkeley

• 2024 margin: R (+16.3) · D 41.1% · R 57.4% · Other 1.4%
• 2008→2024 swing: -3.2pp toward R · 2008: -13.1pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+11.7 2016: R+17.4 2012: R+18.9 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.49%
• Current HPI: 369.104
• 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

+447.6% since first listed

3 events — show timeline

• 2026-05-07 Listed $230,000 Charleston Trident MLS
• 2010-04-29 Sold (MLS) $42,000 Charleston Trident MLS
• 2010-04-01 Listed $42,000 Charleston Trident MLS