185 Belfast Ln · Walterboro, SC 29488

$189,000

4 bd · 1.0 ba · 1,344 sqft · Manufactured public records · 60 Days on market

Built 1993 0.30 ac lot

---

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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to 185 Belfast Lane !! Located off Industrial Road only minutes to the High School, the Recreation Center and the Middle School! 1344 sqft, featuring 4 Bedrooms, 2 Full Bathrooms, Living Room with a Corner Fireplace, and Built-in Book Shelving, Opens into a Spacious Galley Style Kitchen, then an open Family Room, with 3 Separate Bedrooms on one side of this Home and a Master Suite on the other side. This Home flows very well, the family will enjoy the space this Home has to offer. This Home Looks Great and is Ready to Move-into. Call to set up an appointment today!

Key facts

• Master suite
• Open family room
• Galley style kitchen

Tags

• CORNER FIREPLACE
• BUILT-IN BOOK SHELVING
• GALLEY STYLE KITCHEN
• OPEN FAMILY ROOM
• MASTER SUITE

Property features AI

Exterior

• Parking: Attached parking; Off-street parking
• Utilities: Septic tank; City of Walterboro water; Dominion Energy power
• Home design: Manufactured / Mobile Home (double wide); One story
• Construction: Brick skirting; Architectural roof; Fee simple ownership
• Exterior features: Stoop; Other exterior features; Cul-de-sac lot; Interior lot; Lot under 0.5 acre

Interior

• Kitchen: Electric range; Range hood; Refrigerator
• Bedrooms: 4 bedrooms; Primary bedroom with ceiling fan and walk-in closet
• Flooring: Laminate; Vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Blown and smooth ceilings; High ceilings; Ceiling fans; Garden tub/shower; Walk-in closet(s); Family room; Living/dining combo; Utility room
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $189k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $183k (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: Northside Elementary (math 14% / reading 22%, grade F, #508 of 597 statewide, top 86%, 452 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: 223 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $115k; list at $189k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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: 1.38% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.28%
• DSCR: 1.95
• GRM: 6.0

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: 13.8%
• Equity multiple: 1.55×
• Total profit: $29,060
• Equity at exit: $28,181

10-year hold

• IRR: 22.5%
• Equity multiple: 2.93×
• Total profit: $101,958
• Equity at exit: $16,341

Cash invested: $52,920 (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: 223
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,609 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $938

Break-even live

Break-even rent $1,422

Max offer price $189,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,045	-5% $992	+0% $938	+5% $885	+10% $831
Rent	-10% $732	-5% $835	+0% $938	+5% $1,041	+10% $1,144
Rate	-1.0pp $1,033	-0.5pp $986	base $938	+0.5pp $889	+1.0pp $839

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $189,000 Active 60 DOM
2. 2026-06-18
   days on market $189,000 Active 58 DOM
3. 2026-06-17
   days on market $189,000 Active 57 DOM
4. 2026-06-16
   days on market $189,000 Active 56 DOM
5. 2026-06-15
   days on market $189,000 Active 55 DOM
6. 2026-06-13
   days on market $189,000 Active 53 DOM
7. 2026-06-12
   days on market $189,000 Active 52 DOM
8. 2026-06-09
   days on market $189,000 Active 49 DOM
9. 2026-06-08
   days on market $189,000 Active 48 DOM
10. 2026-06-08
    days on market $189,000 Active 47 DOM
11. 2026-06-04
    days on market $189,000 Active 43 DOM
12. 2026-06-02
    days on market $189,000 Active 42 DOM
13. 2026-06-01
    status $189,000 Active 41 DOM
14. 2026-06-01
    days on market $189,000 Active Under Contract 41 DOM
15. 2026-05-31
    days on market $189,000 Active Under Contract 40 DOM
16. 2026-04-21
    listed $189,000 Active
17. 2025-02-20
    soldstatus $115,000
18. 2005-08-31
    soldstatus $8,000
19. 2005-02-08
    soldstatus $7,000

ⓘ 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: $639 · $53/mo
• Projected year-2 tax: $1,077 · $90/mo
• Expected delta: +$438/yr (+$37/mo · 68.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $31,312
• − Mortgage interest: −$10,587
• − Property taxes: −$639
• − Insurance: −$945
• − Repairs & maintenance: −$2,505
• − Management: −$2,505
• − Depreciation: −$5,498
• Taxable income: $8,633
• Est. tax owed @ 24.0%: −$2,072
• After-tax cash flow: $9,187/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: 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

+2600.0% since first listed

4 events — show timeline

• 2026-04-21 Listed $189,000 Charleston Trident MLS
• 2025-02-20 Sold (Public Records) $115,000 Public Records
• 2005-08-31 Sold (Public Records) $8,000 Public Records
• 2005-02-08 Sold (Public Records) $7,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $639 · +5.2% YoY. Source: county tax records.