723 Zion Church Rd

Easley, SC 29642

$249,900F

2 bd · 2.0 ba · 1,920 sqft · Built 2000 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,646/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-231/mo
• Annual: $-2,769/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.96%
• DSCR: 0.82
• 1% rule: 0.66%
• Cash to close: $69,972

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $250k.
• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (34.1% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $165k (34.1% 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.
• 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: Forest Acres Elementary (math 58% / reading 55%, grade C+, #108 of 597 statewide, top 18%, 710 students, 55% 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 65% FRL vs 42% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.3%/yr); 321 active listings in the ZIP; solid renter incomes; 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 $2k; list at $250k implies a 12395% gain — meaningful room to come down on a strong offer.
• 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 5.2% vs local median 4.0% in Easley — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• 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.
• 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.