223 Station Mill Blvd

Bluffton, SC 29909

$235,000D+

1 bd · 2.5 ba · 1,024 sqft · Built 2007 · Townhouse · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,176/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$357
• HOA: −$0
• Vac / Maint / Mgmt: −$457
• Net cashflow: $129/mo
• Annual: $1,551/yr
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.10
• 1% rule: 0.93%
• Cash to close: $65,800

Investor read

• This is a 1-bed/2.5-bath townhouse listed at $235k.
• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (7.4% below list).
• It's been on market 31 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $218k (7.4% 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 $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#76 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• Beaufort 01 (town): math 42% / reading 51% proficiency, ranked #17 of 80 in SC (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pritchardville Elementary (math 54% / reading 58%, grade C+, #109 of 597 statewide, top 19%, 1,005 students, 24% FRL); Bluffton Middle (math 40% / reading 46%, grade D-, #60 of 229 statewide, top 26%, 872 students, 45% FRL); Bluffton High (math 69% / reading 85%, grade A-, #28 of 196 statewide, top 16%, 1,350 students, 38% FRL).
• Zoned-school proficiency averages 59% at this address vs 46% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Beaufort 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+9.3%/yr); 657 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $235k implies a 57% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 3.2% in Bluffton — 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.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• 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.
• 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.