101 Lot 100 Dubbs Ave

Oak Grove, SC 29169

$17,000C-

2 bd · 1.0 ba · 980 sqft · Built 1973 · Manufactured · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,572/mo
• Mortgage (P&I): −$89
• Tax + insurance: −$28
• HOA: −$0
• Vac / Maint / Mgmt: −$330
• Net cashflow: $1,124/mo
• Annual: $13,491/yr
• Cap rate: 85.65%
• Cash-on-cash: 283.42%
• DSCR: 13.61
• 1% rule: 9.25%
• Cash to close: $4,760

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $17k.
• 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 $17k).
• It's been on market 38 days — a 3% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $16k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $118 of loan paydown is wiped out by about $510 of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#114 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D, schools D-, amenities F.
• Lexington 02 (suburban): math 30% / reading 38% proficiency, ranked #45 of 80 in SC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.5%/yr); 127 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts; this cycle's ask has dropped $13k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.
• This rent runs 33% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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 D 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.