208 Tyler Ct

Easley, SC 29642

$239,000C-

4 bd · 2.0 ba · 1,680 sqft · Built 2003 · Manufactured · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,140/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$211
• HOA: −$0
• Vac / Maint / Mgmt: −$449
• Net cashflow: $226/mo
• Annual: $2,715/yr
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• 1% rule: 0.90%
• Cash to close: $66,920

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $239k.
• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (10.4% below list).
• It's been on market 17 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $214k (10.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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.
• Anderson 01 (rural): math 58% / reading 60% proficiency, ranked #3 of 80 in SC (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hunt Meadows Elementary (math 61% / reading 54%, grade C+, #99 of 597 statewide, top 17%, 574 students, 47% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 315 active listings in the ZIP; solid renter incomes; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y ago 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.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.4% 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.
• This rent runs 33% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 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?
• 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.