150 Cotton Leaf Blvd

Summerville, SC 29461

$239,990C

3 bd · 2.0 ba · 1,386 sqft · Built 2026 · Townhouse · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,358/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$400
• HOA: −$0
• Vac / Maint / Mgmt: −$495
• Net cashflow: $204/mo
• Annual: $2,451/yr
• Cap rate: 7.31%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• 1% rule: 0.98%
• Cash to close: $67,197

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $240k. Condition is rated good.
• At list price, monthly cash flow is $204 ($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 $236k (1.7% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $236k (1.7% 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 $7k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#167 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: amenities F, commute F, health & safety 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: Cane Bay Elementary (math 57% / reading 55%, grade C+, #109 of 597 statewide, top 19%, 1,263 students, 28% FRL); Cane Bay Middle (math 29% / reading 47%, grade F, #86 of 229 statewide, top 39%, 1,487 students, 30% FRL); Cane Bay High (math 50% / reading 84%, grade B, #73 of 196 statewide, top 41%, 2,158 students, 28% FRL) — zoned schools average 29% FRL vs 48% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Berkeley 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.8%/yr); 872 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 66d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• Cap rate 7.3% vs local median 3.9% in Summerville — 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 34% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.