393 Herndon St · Walterboro, SC 29488

$249,999

4 bd · 2.0 ba · 2,040 sqft · Manufactured · 38 Days on market

Built 2026 Excellent condition 1.00 ac lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Condition / age +5.0/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 393 Herndon, where brand-new construction meets the peace and privacy of country living. Situated on a full acre with no HOA, this thoughtfully designed home offers the perfect blend of space, freedom, and modern comfort. Inside, you'll find a spacious open-concept layout ideal for both everyday living and entertaining. The kitchen serves as the heart of the home, featuring a large island, ample cabinetry, and plenty of room to gather. With four generously sized bedrooms and two full bathrooms, there's flexibility for family, guests, or even a home office setup. The primary suite provides a relaxing retreat with a private en suite bath, while the additional bedrooms are well-size

Key facts

• Ample cabinetry
• Large island
• Full acre

Tags

• BRAND NEW CONSTRUCTION
• FULL ACRE
• NO HOA
• OPEN CONCEPT LAYOUT
• LARGE ISLAND
• AMPLE CABINETRY

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Septic tank
• Home design: Manufactured / mobile home; One story; Ground-level entry; New construction
• Construction: Brick skirting
• Exterior features: Asphalt roof; Lot between 0.5 and 2 acres

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 4 bedrooms; Primary bedroom on lower level
• Flooring: Luxury vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Kitchen island; Walk-in closets; Eat-in kitchen; Living/dining combo; Pantry; Separate dining area; Utility room
• Laundry & utility: Laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $250k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#269 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Colleton 01 (rural): math 13% / reading 28% proficiency, ranked #69 of 80 in SC (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Forest Hills Elementary (math 17% / reading 24%, grade F, #490 of 597 statewide, top 82%, 469 students, 100% FRL); Colleton County Middle (math 8% / reading 18%, grade F, #210 of 229 statewide, top 93%, 1,121 students, 100% FRL); Colleton County High (math 28% / reading 80%, grade C-, #137 of 196 statewide, top 70%, 1,497 students, 100% FRL) — zoned schools average 100% FRL vs 69% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 222 active listings in the ZIP; 50 units permitted in Colleton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Colleton County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Recommended offer $242,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-23,038
• Equity at exit: $37,276

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,543
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29488

• Home prices YoY: -33.6%
• Active inventory: 222
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,533 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $274

Break-even live

Break-even rent $2,187

Max offer price $249,999

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $249,999 Active 38 DOM
2. 2026-06-17
   days on market $249,999 Active 37 DOM
3. 2026-06-16
   days on market $249,999 Active 36 DOM
4. 2026-06-15
   days on market $249,999 Active 35 DOM
5. 2026-06-13
   days on market $249,999 Active 33 DOM
6. 2026-06-12
   days on market $249,999 Active 32 DOM
7. 2026-06-09
   days on market $249,999 Active 29 DOM
8. 2026-06-08
   days on market $249,999 Active 28 DOM
9. 2026-06-08
   days on market $249,999 Active 27 DOM
10. 2026-06-04
    days on market $249,999 Active 23 DOM
11. 2026-06-02
    days on market $249,999 Active 22 DOM
12. 2026-06-01
    days on market $249,999 Active 21 DOM
13. 2026-05-31
    days on market $249,999 Active 20 DOM
14. 2026-05-11
    listed $249,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,401
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,432
• − Management: −$2,432
• − Depreciation: −$7,273
• Taxable loss: −$739
• Est. tax savings @ 24.0%: +$177
• After-tax cash flow: $3,462/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Excellent 100/100 None rehab

This manufactured home is in excellent condition with no visible repairs or maintenance needed. It offers a spacious and modern interior with a good exterior and landscaping. Landscaping and curb appeal improvements would further enhance its value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhancing the landscaping and curb appeal can increase both the resale and rental value of the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhancing the landscaping and curb appeal can increase both the resale and rental value of the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Colleton 01
• NCES district ID: 4501830
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 28% ▬ 0.00%
• Median HH income: $33,128
• Composite: 16.66/100
• National rank: #9171
• State rank: #69 of 80 in SC

Livability — Walterboro

• Score: 57/100
• State rank: #269
• US rank: #21618

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A- Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 22,367
• Population (ZIP): 22,367

Population outlook (Colleton County) Hauer SSP2

• Today (2025): 34,932 people
• By 2030: 33,078 · -5.3%
• By 2040: 29,017 · -16.9%
• By 2050: 25,029 · -28.3%
• By 2075: 16,894 · -51.6%
• By 2100: 10,518 · -69.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 54% Black 38% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Colleton

• 2024 margin: R (+18.2) · D 40.4% · R 58.5% · Other 1.1%
• 2008→2024 swing: -18.7pp toward R · 2008: 0.5pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+9.5 2016: R+8.5 2012: D+0.2 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.20%
• Current HPI: 235.1237
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

1 event — show timeline

• 2026-05-11 Listed $249,999 Charleston Trident MLS