198 Booger Branch Rd

Six Mile, SC 29682

$70,000B-

2 bd · 1.0 ba · 864 sqft · Built — · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $864/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $228/mo
• Annual: $2,731/yr
• Cap rate: 10.19%
• Cash-on-cash: 13.93%
• DSCR: 1.62
• 1% rule: 1.23%
• Cash to close: $19,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($864 rent vs $70k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#197 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety 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: Six Mile Elementary (math 37% / reading 38%, grade F, #311 of 597 statewide, top 53%, 545 students, 64% FRL); R. C. Edwards Middle (math 56% / reading 53%, grade B-, #24 of 229 statewide, top 11%, 840 students, 54% FRL); D. W. Daniel High (math 42% / reading 90%, grade B, #81 of 196 statewide, top 42%, 1,201 students, 47% FRL).
• Market conditions: 81 active listings in the ZIP; 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.
• Current owner paid $30k; list at $70k implies a 134% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.