186 Lone Lane Dr

Cope, SC 29038

$100,000B-

3 bd · 2.0 ba · 1,456 sqft · Built 1999 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,118/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $223/mo
• Annual: $2,680/yr
• Cap rate: 8.97%
• Cash-on-cash: 9.57%
• DSCR: 1.43
• 1% rule: 1.12%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 22 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($691 loan paydown + $6k appreciation (6.1% local appreciation)).
• Location reads 56/100 on livability (#288 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B; Watch: health & safety C-, amenities F, commute F.
• Zoned schools: Edisto Primary (554 students, 100% FRL); Carver Edisto Middle (math 12%, 515 students, 100% FRL); Edisto High (math 24%, 677 students, 100% FRL).
• Market conditions: 16 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.
• Current owner paid $13k; list at $100k implies a 669% gain — meaningful room to come down on a strong offer.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.