16 Gaskins Trl

Travelers Rest, SC 29690

$235,000D

3 bd · 2.5 ba · 2,032 sqft · Built 2022 · Townhouse · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,159/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$509
• HOA: −$205
• Vac / Maint / Mgmt: −$453
• Net cashflow: $-241/mo
• Annual: $-2,897/yr
• Cap rate: 5.06%
• Cash-on-cash: -4.40%
• DSCR: 0.80
• 1% rule: 0.92%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $235k. Condition is rated good.
• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (8.1% below list).
• It's been on market 24 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (18.1% below list) — sets the bar for cash-flow.
• 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 73/100 on livability (#41 in SC) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, amenities B+; Watch: commute F, employment F.
• 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: Gateway Elementary (math 57% / reading 55%, grade C+, #109 of 597 statewide, top 19%, 663 students, 62% FRL) — zoned schools average 62% FRL vs 42% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 476 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 80d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.1% vs local median 2.2% in Travelers Rest — 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 37% of the median local income ($70k/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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.