105 Mace Ct

Latta, SC 29565

$99,900C+

3 bd · 1.0 ba · 949 sqft · Built 1967 · Other · Pending · 185 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,015/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $170/mo
• Annual: $2,040/yr
• Cap rate: 8.34%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• 1% rule: 1.02%
• Cash to close: $27,972

Investor read

• This is a 3-bed/1.0-bath other listed at $100k.
• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 185 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($691 loan paydown + $6k appreciation (5.8% local appreciation)).
• Location reads 61/100 on livability (#205 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Dillon 03 (rural): math 45% / reading 52% proficiency, ranked #18 of 80 in SC (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Latta Elementary (math 52% / reading 47%, grade D, #168 of 597 statewide, top 31%, 621 students, 88% FRL); Latta Middle (math 41% / reading 45%, grade D-, #60 of 229 statewide, top 26%, 471 students, 83% FRL); Latta High (math 50% / reading 92%, grade B+, #54 of 196 statewide, top 28%, 414 students, 71% FRL) — zoned schools average 81% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 81 active listings in the ZIP; 41 units permitted in Dillon County in 2024 (0 in 5+ unit buildings).
• Dillon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $100k implies a 120% gain — meaningful room to come down on a strong offer.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.