Sage Plan

Summerville, SC 29486

$334,990F

3 bd · 2.5 ba · 1,553 sqft · Built — · Townhouse · Active · 292 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,682/mo
• Mortgage (P&I): −$2,077
• Tax + insurance: −$660
• HOA: −$0
• Vac / Maint / Mgmt: −$563
• Net cashflow: $-619/mo
• Annual: $-7,426/yr
• Cap rate: 4.42%
• Cash-on-cash: -6.70%
• DSCR: 0.70
• 1% rule: 0.68%
• Cash to close: $110,915

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $335k. Condition is rated excellent.
• At list price, monthly cash flow is $-619 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (19.9% below list).
• It's been on market 292 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $268k (19.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#167 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: amenities F, commute F, health & safety F.
• Berkeley 01 (suburban): math 35% / reading 48% proficiency, ranked #30 of 80 in SC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nexton Elementary (math 52% / reading 55%, grade C, #137 of 597 statewide, top 23%, 1,025 students, 38% FRL); Cane Bay Middle (math 29% / reading 47%, grade F, #86 of 229 statewide, top 39%, 1,487 students, 30% FRL); Cane Bay High (math 50% / reading 84%, grade B, #73 of 196 statewide, top 41%, 2,158 students, 28% FRL) — zoned schools average 32% FRL vs 48% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.7%/yr); 1784 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 88d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 74% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 36% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 292 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.