509 Marina Way · Prosperity, SC 29127

$157,000

2 bd · 4.0 ba · 912 sqft · Manufactured public records · 274 Days on market

Built 1995

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Why this score? — see what drove the C 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bed 2 bath. Very desirable area. Beautiful front porch. (Enclosed). Great for home, vacation, investment or Airb& amp; b. Will be showing September 25th. Through October 10th. By Owner appointment only. 248 250 0773. Will be with a listing agent October 15th. Thanks. Call for appointment. Ken

Key facts

• Built 1995
• Listed 273 days

What this means for you Summary

Snapshot

• This is a 2-bed/4.0-bath manufactured listed at $157k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $138k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#48 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools C-, employment D+, amenities F.
• Newberry 01 (rural): math 32% / reading 40% proficiency, ranked #40 of 80 in SC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 152 active listings in the ZIP; 155 units permitted in Newberry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Newberry County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-5,229
• Equity at exit: $23,409

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $21,546
• Equity at exit: $13,574

Cash invested: $43,960 (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 29127

• Home prices YoY: -33.4%
• Active inventory: 152
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,775 medium
• Mortgage (P&I): −$823
• Tax est. 1.5%: −$196 /mo · $2,355/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $317

Break-even live

Break-even rent $1,373

Max offer price $157,000

Occupancy floor 77%

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-17
   days on market $157,000 Active 274 DOM
2. 2026-06-16
   days on market $157,000 Active 273 DOM
3. 2026-06-15
   days on market $157,000 Active 272 DOM
4. 2026-06-14
   days on market $157,000 Active 270 DOM
5. 2026-06-13
   days on market $157,000 Active 269 DOM
6. 2026-06-09
   days on market $157,000 Active 266 DOM
7. 2026-06-08
   days on market $157,000 Active 265 DOM
8. 2026-06-07
   days on market $157,000 Active 264 DOM
9. 2026-06-05
   days on market $157,000 Active 261 DOM
10. 2026-06-03
    days on market $157,000 Active 260 DOM
11. 2026-06-03
    days on market $157,000 Active 259 DOM
12. 2026-06-01
    days on market $157,000 Active 258 DOM
13. 2026-05-31
    days on market $157,000 Active 257 DOM
14. 2025-09-15
    listed $157,000 Active

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $21,295
• − Mortgage interest: −$8,794
• − Property taxes: −$2,355
• − Insurance: −$785
• − Repairs & maintenance: −$1,704
• − Management: −$1,704
• − Depreciation: −$4,567
• Taxable income: $1,386
• Est. tax owed @ 24.0%: −$333
• After-tax cash flow: $3,470/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: Newberry 01
• NCES district ID: 4503030
• Math proficiency: 32% ▼ -12.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $40,892
• Composite: 30.28/100
• National rank: #6282
• State rank: #40 of 80 in SC

Livability — Prosperity

• Score: 71/100
• State rank: #48
• US rank: #6895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,215

Population outlook (Newberry County) Hauer SSP2

• Today (2025): 38,350 people
• By 2030: 38,259 · -0.2%
• By 2040: 37,487 · -2.3%
• By 2050: 36,219 · -5.6%
• By 2075: 32,400 · -15.5%
• By 2100: 27,201 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 24% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 1% Romanian 1%
• Foreign-born: 1% · Canada, Guatemala
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Newberry

• 2024 margin: Solid R (+34.3) · D 32.2% · R 66.6% · Other 1.2%
• 2008→2024 swing: -16.8pp toward R · 2008: -17.6pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+24.1 2016: R+22.6 2012: R+14.3 2008: R+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.95%
• Current HPI: 205.2888
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2025-09-15 Listed $157,000 Fizber.com

Property tax history

-2.0%/yr

Latest (2023): $236 · +0.5% YoY. Source: county tax records.