22 Gaskins Trl

Travelers Rest, SC 29690

$230,000D

3 bd · 2.5 ba · 2,032 sqft · Built 2022 · Townhouse · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,159/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$505
• HOA: −$205
• Vac / Maint / Mgmt: −$453
• Net cashflow: $-211/mo
• Annual: $-2,531/yr
• Cap rate: 5.19%
• Cash-on-cash: -3.93%
• DSCR: 0.83
• 1% rule: 0.94%
• Cash to close: $64,400

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $230k. Condition is rated good.
• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (6.1% below list).
• It's been on market 22 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (16.2% 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 73/100 on livability (#41 in SC) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, amenities B+; Watch: schools C-, commute F, employment F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 476 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 81d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.2% vs local median 2.2% in Travelers Rest — 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 37% of the median local income ($70k/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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.