314 Highline Trl

Mauldin, SC 29607

$279,000D+

4 bd · 3.5 ba · 2,596 sqft · Built 2023 · SingleFamily · Active · 240 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,229/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$271
• HOA: −$160
• Vac / Maint / Mgmt: −$468
• Net cashflow: $-133/mo
• Annual: $-1,595/yr
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• 1% rule: 0.80%
• Cash to close: $78,120

Investor read

• This is a 4-bed/3.5-bath single-family listed at $279k.
• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (20.1% below list).
• It's been on market 240 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $223k (20.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#2 in SC, #321 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mauldin Elementary (math 50% / reading 52%, grade C-, #158 of 597 statewide, top 27%, 990 students, 78% FRL) — zoned schools average 78% FRL vs 42% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 410 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $29k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.7% vs local median 3.8% in Mauldin — 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 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 240 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.