197 Frank St · Summerville, SC 29483

$130,000

3 bd · 2.0 ba · 1,792 sqft · Manufactured public records · 12 Days on market

Built 2002 0.49 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity close to everything in the Summerville area. Home has a large beautiful lot with mature trees. Home needs extensive work but appears to have great bones. Close to all Summerville has to offer and just a few minutes to the interstate.

Key facts

• 0.49 acre lot
• Built 2002
• Listed 12 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Private sewer
• Home design: Manufactured/mobile home (residential); Single-story; Ground-level entry
• Construction: Architectural roof; Vinyl skirt
• Exterior features: Chain link fencing; Level lot; Lot between 0.5 and 1 acre

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Blown ceiling insulation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 16.2% vs local median 4.0% 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.

Location & tenants

• 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.
• Dorchester 02 (suburban): math 40% / reading 55% proficiency, ranked #12 of 80 in SC (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William M. Reeves Elementary (math 51% / reading 55%, grade C, #138 of 597 statewide, top 24%, 914 students, 62% FRL); Charles B. Dubose Middle (math 30% / reading 45%, grade F, #90 of 229 statewide, top 42%, 950 students, 62% FRL); Summerville High (math 60% / reading 92%, grade A-, #34 of 196 statewide, top 17%, 3,308 students, 59% FRL) — zoned schools average 61% FRL vs 36% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 741 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,199 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Dorchester County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.82% ✓
• Cap rate: 16.17%
• Cash-on-cash: 35.27%
• DSCR: 2.57
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $270,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
197 Frank St	0.00mi	3/2.0	1,752 (-2%)	0mo	$130,000	$74	96
201 Frank St	0.02mi	3/2.0	1,680 (-6%)	10mo	$229,900	$137	80
138 George Keen Dr	0.50mi	3/2.0	1,792 (0%)	3mo	$225,000	$126	74
144 Allspice Dr	0.51mi	3/2.0	1,792 (0%)	8mo	$310,000	$173	70
108 Swanson Dr	0.36mi	4/2.0 (+1)	1,791 (-0%)	11mo	$305,000	$170	69
106 Swanson Dr	0.36mi	4/2.0 (+1)	1,762 (-2%)	9mo	$294,500	$167	68
175 Koger Dr	0.45mi	3/2.0	1,620 (-10%)	3mo	$215,000	$133	60
108 Lake Dr	0.48mi	4/2.0 (+1)	1,680 (-6%)	4mo	$148,000	$88	59
202 George Keen Dr	0.52mi	4/2.0 (+1)	1,900 (+6%)	5mo	$310,000	$163	56
99 Schoonover Dr	0.57mi	3/2.0	1,680 (-6%)	20mo	$253,000	$151	46
218 Dean Dr	0.71mi	4/2.0 (+1)	1,762 (-2%)	17mo	$284,350	$161	45
220 Dean Dr	0.70mi	4/2.0 (+1)	1,904 (+6%)	16mo	$288,000	$151	38

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

Projected returns pro-forma

-3.0% appreciation · 1.45% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 2.19×
• Total profit: $43,408
• Equity at exit: $19,383

10-year hold

• IRR: 35.6%
• Equity multiple: 4.05×
• Total profit: $110,979
• Equity at exit: $11,240

Cash invested: $36,400 (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 29483

• Home prices YoY: -34.6%
• Rents YoY: 1.4%
• Active inventory: 741
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,364 high
• Mortgage (P&I): −$682
• Tax from tax record: −$62 /mo · $745/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $1,070

Break-even live

Break-even rent $1,010

Max offer price $130,000

Occupancy floor 50%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Longford Dr Summerville, SC	4.0	2.5	2100	$2,450	$1.17	19d	1	0.46mi
226 Saint Catherines Ct Unit Carlile Summerville, SC	3.0	2.5	1540	$2,100	$1.36	23d	1	0.58mi
226 Saint Catherines Ct Unit Retreat Summerville, SC	3.0	2.5	1540	$2,000	$1.30	23d	1	0.58mi
221 Berwick Dr Summerville, SC	3.0	3.0	2284	$2,500	$1.09	3d	1	0.74mi
292 Greyback Rd Summerville, SC	3.0	2.0	1500	$2,995	$2.00	2d	1	0.91mi
1000 N Pine St Summerville, SC	3.0	1.0–3.0	1036	$2,760	$2.66	2d	92	1.15mi

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-17
   listed $130,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $745 · $62/mo
• Projected year-2 tax: $745 · $62/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% 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: $28,371
• − Mortgage interest: −$7,282
• − Property taxes: −$745
• − Insurance: −$650
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − Depreciation: −$3,782
• Taxable income: $11,372
• Est. tax owed @ 24.0%: −$2,729
• After-tax cash flow: $10,107/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.

Schools (NCES district)

• District: Dorchester 02
• NCES district ID: 4502010
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $57,937
• Composite: 41.41/100
• National rank: #3475
• State rank: #12 of 80 in SC

Livability — Summerville

• Score: 63/100
• State rank: #167
• US rank: #15058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dorchester County · 182,866 people
• City population: 171,668
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 59,186
• Household income: $85,750
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 1309.0

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 186,982 people
• By 2030: 203,967 · +9.1%
• By 2040: 237,160 · +26.8%
• By 2050: 267,479 · +43.1%
• By 2075: 333,025 · +78.1%
• By 2100: 366,560 · +96.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 19% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.8% · R 56.4% · Other 1.9%
• 2008→2024 swing: +0.9pp no change · 2008: -15.5pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+10.5 2016: R+17.5 2012: R+16.0 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.42%
• Current HPI: 248.8406
• Rent YoY: ▲ 1.45%
• Metro: Charleston-North Charleston, SC
• 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

2 events — show timeline

• 2026-04-29 Pending — Charleston Trident MLS
• 2026-04-17 Listed $130,000 Charleston Trident MLS

Property tax history

+29.1%/yr

Latest (2022): $745 · +777.0% YoY. Source: county tax records.