211 Hayden St

Walterboro, SC 29488

$130,000B-

3 bd · 2.0 ba · 1,064 sqft · Built 1995 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,578/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $468/mo
• Annual: $5,613/yr
• Cap rate: 10.61%
• Cash-on-cash: 15.42%
• DSCR: 1.69
• 1% rule: 1.21%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated average.
• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 31 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#269 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Colleton 01 (rural): math 13% / reading 28% proficiency, ranked #69 of 80 in SC (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northside Elementary (math 14% / reading 22%, grade F, #508 of 597 statewide, top 86%, 452 students, 100% FRL); Colleton County Middle (math 8% / reading 18%, grade F, #210 of 229 statewide, top 93%, 1,121 students, 100% FRL); Colleton County High (math 28% / reading 80%, grade C-, #137 of 196 statewide, top 70%, 1,497 students, 100% FRL) — zoned schools average 100% FRL vs 69% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 292 active listings in the ZIP; 50 units permitted in Colleton County in 2024 (0 in 5+ unit buildings).
• Colleton County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask is 10733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% 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 10.6% vs local median 4.4% in Walterboro — 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 40% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 31 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.
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Some cabinets appear slightly worn
• Minor: Bathroom fixtures — Standard fixtures may need updating