456 Colchester Ct #1

Moncks Corner, SC 29461

$239,990C-

3 bd · 2.0 ba · 1,386 sqft · Built 2026 · Townhouse · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,193/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$827
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $-353/mo
• Annual: $-4,235/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• 1% rule: 0.91%
• Cash to close: $67,197

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $240k. Condition is rated excellent.
• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (8.6% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $189k (21.3% below list) — sets the bar for cash-flow.
• 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 67/100 on livability (#99 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities F, commute 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).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents rising (+2.8%/yr); 872 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 85d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 95% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 4.6% in Moncks Corner — 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.
• This rent runs 32% of the median local income ($83k/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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.