565 Water Springs Rd

Brookdale, SC 29118

$48,500B-

3 bd · 1.0 ba · 840 sqft · Built 1994 · Manufactured · Pending · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,407/mo
• Mortgage (P&I): −$254
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $777/mo
• Annual: $9,320/yr
• Cap rate: 25.51%
• Cash-on-cash: 68.63%
• DSCR: 4.05
• 1% rule: 2.90%
• Cash to close: $13,580

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $48k. Condition is rated poor.
• At list price, monthly cash flow is $777 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• It's been on market 53 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $335 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#144 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B; Watch: crime D+, amenities F, commute F.
• Zoned schools: Marshall Elementary (math 24%, 651 students, 100% FRL); Orangeburg Wilkinson High (math 22%, 1,073 students, 100% FRL).
• Market conditions: 163 active listings in the ZIP; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 25.5% vs local median 3.4% in Brookdale — 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

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Mobile home exterior — Significant rust and peeling paint indicate extensive structural damage.
• Major: Mobile home roof — Old mobile home may have structural issues that require inspection.
• Major: Mobile home flooring — Old mobile home may have structural issues that require inspection.
• Major: Mobile home interior walls/paint — Old mobile home may have structural issues that require inspection.
• Major: Mobile home HVAC/mechanicals — Old mobile home may have structural issues that require inspection.
• Major: Landscaping — Overgrown vegetation and unkempt appearance suggest significant maintenance needs.