Property Description:
SIX-TOWNHOME RENTAL PORTFOLIO | GREENVILLE, SC | SELLER FINANCING PREFERRED
Six income-producing townhomes in two established Greenville HOA communities, offered together in a single closing. One owner, no mortgages or liens on any unit, and 100% leased today. Asking $600,000, negotiable: a 7.9% cap rate for a self-managing owner, 6.8% after paying a manager.
INVESTMENT HIGHLIGHTS
- Free and clear: single owner, clean title, no debt on any unit. The seller can carry the financing directly.
- Fully leased: all six units are rented and producing income from day one.
- Recently renovated: three units were updated within the past year with new flooring, painted cabinetry, subway tile backsplashes, updated bathrooms and lighting.
- Low-risk ownership: the HOA policy covers roof and foundation, the two largest and costliest risks a rental owner normally carries. This keeps owner insurance and maintenance costs unusually low.
- Affordable rents, stable tenants: among the most affordable rents in Greenville for comparable homes, with very little turnover and near-zero vacancy.
- Numbers that hold up: the projection already includes an 8% property management fee.
THE PORTFOLIO
Town Park (29615), 4 units, HOA $185/month per unit
- Unit 1: 2 bed / 1.5 bath, $1,050/month, renovated
- Unit 2: 2 bed / 1.5 bath, $1,100/month, renovated
- Unit 3: 2 bed / 1.5 bath, $1,100/month, long-term tenant
- Unit 4: 3 bed / 1.5 bath, $1,295/month, renovated
Units 1, 2 and 3 are identical: same building, same roof, same floor plan.
The Highlands (29605), 2 units, HOA $150/month per unit
- Unit 1: 3 bed / 1.5 bath, $1,095/month, long-term tenant
- Unit 2: 3 bed / 1.5 bath, $1,095/month, long-term tenant
Total gross rent: $6,735/month, $80,820/year.
PROJECTED OPERATING STATEMENT (REALISTIC CASE, ANNUAL)
Gross scheduled rent: $80,820
Vacancy allowance (7%): -$5,657
Effective income: $75,163
HOA dues: -$12,480
Property taxes (all units at the 6% investor rate): -$6,602
Insurance (certified Allstate premiums): -$2,952
Maintenance reserve (7%): -$5,657
Property management (8%): -$6,466
Net operating income: $41,006 (or $47,472 for a self-managing owner)
Vacancy and maintenance at 7% each are deliberately conservative, to the buyer's advantage. Vacancy has been close to zero, little goes wrong inside the units, and the largest liabilities fall on the HOA.
One unit is currently assessed at South Carolina's 4% owner-occupied ratio, which does not transfer to an investor-owner. The projection restates it at the 6% investor rate so the numbers reflect what a buyer will actually pay.
VALUATION
The units joined the portfolio at different times and in varied condition, several of them distressed, and were brought up to standard along the way. Trailing revenue reflects that transition rather
contact buyer at marcorossi.roma@gmail.com or text 973-556-0337