2358 Southern Dr · Latta, SC 29565

$139,900

3 bd · 2.0 ba · 1,008 sqft · Manufactured · 62 Days on market

Built 2026 1.00 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +8.1/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks

ONE ACRE WITH POND ACCESS! Located in the Oak Grove area just north of Florence—one exit past Buc-ee’s—this single-story home sits on one acre with access to a pond along the backyard property line. The new home offers an open floor plan with three bedrooms and two full bathrooms. The kitchen and living areas connect directly, providing a functional layout for daily use. The owner’s suite includes a walk-in closet and a private bathroom. Front and rear decks provide outdoor space overlooking the property and pond. Additional features include county water and septic system, new appliances including an electric range, exhaust fan/light, dishwasher, refrigerator and ma

Key facts

• Open floor plan
• County water
• Pond access

Tags

• POND ACCESS
• OPEN FLOOR PLAN
• WALK-IN CLOSET
• PRIVATE BATHROOM
• OUTDOOR SPACE
• COUNTY WATER

Property features AI

Finance

• Other: Approximately 1 acre lot

Exterior

• Security: Security system
• Utilities: Public water; Septic tank
• Home design: Manufactured home; Residential property
• Construction: Brick veneer and vinyl siding; Shingle roof; Crawl space foundation; Home warranty included
• Exterior features: Deck; Storm door(s); Pond; Has view; New construction

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Heat pump; Exhaust fan; Central air conditioning
• Interior features: Walk-in closet(s); Insulated windows

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (24.7% below list).
• Recommended offer: $105k (24.7% below list) — sets the bar for 1% rule.

Location & tenants

• 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).

Forward outlook

• In year one you build about $9k of equity ($967 loan paydown + $8k appreciation (5.8% local appreciation)).
• Dillon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Recommended offer $105,324 (24.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.76×
• Total profit: $29,732
• Equity at exit: $85,720

10-year hold

• IRR: 12.4%
• Equity multiple: 3.42×
• Total profit: $94,792
• Equity at exit: $153,563

Cash invested: $39,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29565

• Home prices YoY: 7.4%
• Active inventory: 81
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,053 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-135

Break-even live

Break-even rent $1,224

Max offer price $120,400

Occupancy floor —

Sensitivity live

Price	-10% $-38	-5% $-86	+0% $-135	+5% $-183	+10% $-231
Rent	-10% $-218	-5% $-176	+0% $-135	+5% $-93	+10% $-52
Rate	-1.0pp $-64	-0.5pp $-99	base $-135	+0.5pp $-171	+1.0pp $-208

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $139,900 Active 62 DOM
2. 2026-06-19
   days on market $139,900 Active 60 DOM
3. 2026-06-18
   days on market $139,900 Active 59 DOM
4. 2026-06-17
   days on market $139,900 Active 58 DOM
5. 2026-06-16
   days on market $139,900 Active 57 DOM
6. 2026-06-15
   days on market $139,900 Active 56 DOM
7. 2026-06-14
   days on market $139,900 Active 54 DOM
8. 2026-06-13
   days on market $139,900 Active 53 DOM
9. 2026-06-10
   days on market $139,900 Active 51 DOM
10. 2026-06-09
    days on market $139,900 Active 50 DOM
11. 2026-06-08
    days on market $139,900 Active 49 DOM
12. 2026-06-07
    days on market $139,900 Active 48 DOM
13. 2026-06-02
    days on market $139,900 Active 43 DOM
14. 2026-06-01
    days on market $139,900 Active 42 DOM
15. 2026-05-31
    days on market $139,900 Active 41 DOM
16. 2026-05-30
    days on market $139,900 Active 40 DOM
17. 2026-04-20
    listed $139,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,639
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$4,070
• Taxable loss: −$4,088
• Est. tax savings @ 24.0%: +$981
• After-tax cash flow: $-636/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dillon 03
• NCES district ID: 4501950
• Math proficiency: 45% ▲ 2.00%
• Reading proficiency: 52% ▲ 8.00%
• Median HH income: $31,197
• Composite: 39.72/100
• National rank: #3901
• State rank: #18 of 80 in SC

Livability — Latta

• Score: 61/100
• State rank: #205
• US rank: #17583

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,460

Population outlook (Dillon County) Hauer SSP2

• Today (2025): 29,087 people
• By 2030: 27,713 · -4.7%
• By 2040: 24,772 · -14.8%
• By 2050: 21,836 · -24.9%
• By 2075: 15,165 · -47.9%
• By 2100: 9,849 · -66.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 48% Black 41% Two or more races 8% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Dillon

• 2024 margin: R (+10.8) · D 44.2% · R 55.0%
• 2008→2024 swing: -22.3pp toward R · 2008: 11.4pp · 2024: -10.8pp
• All cycles: 2024: R+10.8 2020: R+1.1 2016: D+1.7 2012: D+16.3 2008: D+11.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.75%
• Current HPI: 83.7204
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

1 event — show timeline

• 2026-04-20 Listed $139,900 RAGPD