2815 Easler Hwy

Foreston, SC 29056

$112,100C+

3 bd · 2.0 ba · 2,000 sqft · Built 2000 · Manufactured · Pending · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,179/mo
• Mortgage (P&I): −$588
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $233/mo
• Annual: $2,796/yr
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• 1% rule: 1.05%
• Cash to close: $31,388

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $112k.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• It's been on market 41 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($775 loan paydown + $6k appreciation (5.7% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Williamsburg 01 (rural): math 13% / reading 26% proficiency, ranked #74 of 80 in SC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Greeleyville Primary (math 8% / reading 22%, grade F, #549 of 597 statewide, top 92%, 140 students, 100% FRL); C. E. Murray Middle (math 2% / reading 22%, grade F, #216 of 229 statewide, top 96%, 131 students, 98% FRL); Kingstree High (720 students, 100% FRL).
• Market conditions: 13 active listings in the ZIP; 35 units permitted in Williamsburg County in 2024 (0 in 5+ unit buildings).
• Williamsburg County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 (5.7% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 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.