Geneva Plan

Huger, SC 29450

$489,990F

4 bd · 2.5 ba · 2,197 sqft · Built — · SingleFamily · Active · 130 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,150/mo
• Mortgage (P&I): −$2,608
• Tax + insurance: −$829
• HOA: −$0
• Vac / Maint / Mgmt: −$662
• Net cashflow: $-949/mo
• Annual: $-11,386/yr
• Cap rate: 4.00%
• Cash-on-cash: -8.18%
• DSCR: 0.64
• 1% rule: 0.63%
• Cash to close: $139,267

Investor read

• This is a 4-bed/2.5-bath single-family listed at $490k. Condition is rated excellent.
• At list price, monthly cash flow is $-949 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $360k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (35.7% below list).
• It's been on market 130 days — a 12% lower offer ($431k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $315k (35.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.1%/yr); year-one equity from $3k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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: Cainhoy Elementary (math 2% / reading 12%, grade F, #594 of 597 statewide, top 100%, 154 students, 100% FRL); Hanahan High (math 52% / reading 87%, grade B, #60 of 196 statewide, top 32%, 1,040 students, 29% FRL) — zoned schools average 64% FRL vs 48% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 105 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• Cap rate 4.0% vs local median 3.1% in Huger — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $3,150/mo this rent would consume 72% of the median local household income ($52k/yr) — very limited rent-growth headroom before tenants either downsize or default.

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?
• It's been on market 130 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.