920 Long Bluff Rd

Summerville, SC 29486

$354,345F

5 bd · 2.5 ba · 2,215 sqft · Built 2026 · Land · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,731/mo
• Mortgage (P&I): −$1,858
• Tax + insurance: −$591
• HOA: −$73
• Vac / Maint / Mgmt: −$573
• Net cashflow: $-365/mo
• Annual: $-4,376/yr
• Cap rate: 5.06%
• Cash-on-cash: -4.41%
• DSCR: 0.80
• 1% rule: 0.77%
• Cash to close: $99,217

Investor read

• This is a 5-bed/2.5-bath land listed at $354k.
• At list price, monthly cash flow is $-365 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (22.9% below list).
• It's been on market 42 days — a 3% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $273k (22.9% 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 $11k 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: Whitesville Elementary (math 34% / reading 39%, grade F, #328 of 597 statewide, top 55%, 1,031 students, 62% FRL); Berkeley Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 1,403 students, 57% FRL); Berkeley High (math 36% / reading 83%, grade C+, #110 of 196 statewide, top 58%, 1,776 students, 50% FRL).
• Market conditions: Rents rising (+2.7%/yr); 1301 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Cap rate 5.1% vs local median 3.9% in Summerville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 37% 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 42 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.