55 Lemans Dr · Homeland Park, SC 29626

$55,000

2 bd · 2.0 ba · 840 sqft · Manufactured public records · 152 Days on market

Built 2019 2,178 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an investment property ?This 2 Bedroom 2 Bath Mobile home Move in Condition. Decking and underpin passes with the sale. All showings must be made in advance with the appointment center (Home is owner occupied)

Key facts

• 2,178 sq ft lot
• 2 parking spots
• Built 2019

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Assigned parking (2 spaces); Paved concrete driveway
• Utilities: Public water; Public sewer; Electric water heater; Private garbage pickup; Electric power
• Home design: Single-story home; Built in 2019
• Construction: Vinyl siding exterior; Composition shingle roof; Other/see remarks foundation
• Exterior features: Front porch; Patio; Sloped gently lot; Leased lot

Interior

• Kitchen: Kitchen approx. 10 x 9; Electric oven
• Bedrooms: 2 bedrooms on the main level; Primary bedroom with full bath and tub/shower; Primary bedroom approx. 10 x 10; Second bedroom approx. 9 x 9
• Flooring: Carpet; Laminate flooring
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Open floor plan; Laminate countertops
• Laundry & utility: Washer and dryer included; Laundry located on the first floor in the kitchen area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 4.5% in Homeland Park — 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.

Location & tenants

• Location reads 56/100 on livability (#299 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Varennes Elementary (math 18% / reading 18%, grade F, #508 of 597 statewide, top 86%, 370 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 46% district-wide (-28 pts) — the specific schools serving this property underperform the Anderson 05 average; the district grade overstates school quality for this exact location.
• Market conditions: 120 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.25% ✓
• Cap rate: 20.12%
• Cash-on-cash: 49.39%
• DSCR: 3.20
• GRM: 3.7

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: 47.0%
• Equity multiple: 3.04×
• Total profit: $31,455
• Equity at exit: $8,201

10-year hold

• IRR: 52.7%
• Equity multiple: 6.15×
• Total profit: $79,356
• Equity at exit: $4,755

Cash invested: $15,400 (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 29626

• Home prices YoY: -19.8%
• Active inventory: 120
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,235 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $634

Break-even live

Break-even rent $433

Max offer price $55,000

Occupancy floor 44%

Sensitivity live

Price	-10% $665	-5% $649	+0% $634	+5% $618	+10% $603
Rent	-10% $536	-5% $585	+0% $634	+5% $683	+10% $731
Rate	-1.0pp $662	-0.5pp $648	base $634	+0.5pp $620	+1.0pp $605

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 Sedona Dr Anderson, SC	1.0	1.0–1.5	474	$1,122	$2.37	3d	8	0.40mi
203B Cromer Rd Anderson, SC	2.0	1.5	1000	$1,395	$1.40	3d	1	0.85mi

Listing history 9 events

1. 2026-06-05
   days on market $55,000 Active 152 DOM
2. 2026-06-03
   days on market $55,000 Active 151 DOM
3. 2026-06-03
   days on market $55,000 Active 150 DOM
4. 2026-06-01
   days on market $55,000 Active 149 DOM
5. 2026-05-31
   days on market $55,000 Active 148 DOM
6. 2026-04-02
   price $55,000
7. 2026-01-03
   listed $65,000 Active
8. 2025-04-29
   soldstatus $43,500 Closed 221-char remark

   Show marketing remark (221 chars)

   Looking for an investment property ?This 2 Bedroom 2 Bath Mobile home Move in Condition. Decking and underpin passes with the sale. All showings must be made in advance with the appointment center (Home is owner occupied)

9. 2025-04-08
   listed $45,500 Active 221-char remark

   Show marketing remark (221 chars)

   Looking for an investment property ?This 2 Bedroom 2 Bath Mobile home Move in Condition. Decking and underpin passes with the sale. All showings must be made in advance with the appointment center (Home is owner occupied)

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

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $367 · $31/mo
• Projected year-2 tax: $367 · $31/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,822
• − Mortgage interest: −$3,081
• − Property taxes: −$367
• − Insurance: −$275
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$1,600
• Taxable income: $7,128
• Est. tax owed @ 24.0%: −$1,711
• After-tax cash flow: $5,896/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.

Schools (NCES district)

• District: Anderson 05
• NCES district ID: 4500900
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $39,718
• Composite: 38.89/100
• National rank: #4098
• State rank: #20 of 80 in SC

Livability — Homeland Park

• Score: 56/100
• State rank: #299
• US rank: #23092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homeland Park, SC
• Population (ZIP): 13,678

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 210,546 people
• By 2030: 217,791 · +3.4%
• By 2040: 230,643 · +9.5%
• By 2050: 240,220 · +14.1%
• By 2075: 259,518 · +23.3%
• By 2100: 258,696 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 20% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Slovak 2% Danish 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -14.1pp toward R · 2008: -33.3pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+42.0 2016: R+43.7 2012: R+36.4 2008: R+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.00%
• Current HPI: 274.7245
• 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

+20.9% since first listed

4 events — show timeline

• 2026-04-02 Price Changed $55,000 Greater Greenville MLS
• 2026-01-03 Listed $65,000 Greater Greenville MLS
• 2025-04-29 Sold (MLS) $43,500 WUMLS
• 2025-04-08 Listed $45,500 WUMLS

Property tax history

-18.0%/yr

Latest (2025): $367 · +9.7% YoY. Source: county tax records.