185 Stanley Rd

Laurel Bay, SC 29906

$225,000B

4 bd · 3.0 ba · 2,432 sqft · Built 2007 · Manufactured · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,006/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$631
• Net cashflow: $1,048/mo
• Annual: $12,575/yr
• Cap rate: 11.88%
• Cash-on-cash: 19.96%
• DSCR: 1.89
• 1% rule: 1.34%
• Cash to close: $63,000

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $225k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• It's been on market 48 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• 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 55/100 on livability (#300 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment 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.
• Market conditions: Rents rising fast (+6.6%/yr); 206 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Current owner paid $43k; list at $225k implies a 423% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $63k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,006/mo this rent would consume 53% of the median local household income ($68k/yr) (locally 1103% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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 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?
• 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.