221 Brooklane Ct

Easley, SC 29642-1679

$219,900D

3 bd · 3.0 ba · 1,605 sqft · Built 2021 · Townhouse · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,911/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$368
• HOA: −$140
• Vac / Maint / Mgmt: −$401
• Net cashflow: $-152/mo
• Annual: $-1,821/yr
• Cap rate: 5.46%
• Cash-on-cash: -2.96%
• DSCR: 0.87
• 1% rule: 0.87%
• Cash to close: $61,572

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $220k. Condition is rated good.
• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (13.1% below list).
• It's been on market 35 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $191k (13.1% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Location reads 71/100 on livability (#47 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, commute F.
• Pickens 01 (rural): math 42% / reading 50% proficiency, ranked #21 of 80 in SC (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West End Elementary (math 41% / reading 47%, grade F, #239 of 597 statewide, top 41%, 622 students, 100% FRL); Richard H. Gettys Middle (math 37% / reading 39%, grade F, #86 of 229 statewide, top 39%, 1,284 students, 74% FRL); Easley High (math 47% / reading 83%, grade B, #85 of 196 statewide, top 45%, 1,904 students, 65% FRL) — zoned schools average 80% FRL vs 42% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,440 units permitted in Pickens County in 2024 (245 in 5+ unit buildings).
• Pickens County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $116k; list at $220k implies a 89% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.0% in Easley — 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.

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?
• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.