1133 Old Hilton Rd

Lake Murray of Richland, SC 29036

$415,000D-

4 bd · 2.0 ba · 2,396 sqft · Built 1979 · SingleFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,089/mo
• Mortgage (P&I): −$2,176
• Tax + insurance: −$282
• HOA: −$0
• Vac / Maint / Mgmt: −$649
• Net cashflow: $-18/mo
• Annual: $-214/yr
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• 1% rule: 0.74%
• Cash to close: $116,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $415k.
• At list price, monthly cash flow is $-18 ($-214/yr) — negative.
• To cash-flow at today's rent, offer at most $412k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $309k (25.6% below list).
• It's been on market 51 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $309k (25.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#102 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Lexington 05 (suburban): math 47% / reading 55% proficiency, ranked #5 of 80 in SC (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lake Murray Elementary (math 78% / reading 82%, grade A+, #4 of 597 statewide, top 1%, 809 students, 18% FRL); Chapin Middle (math 50% / reading 57%, grade C+, #29 of 229 statewide, top 13%, 991 students, 27% FRL); Chapin High (math 82% / reading 91%, grade A, #7 of 196 statewide, top 4%, 1,615 students, 100% FRL) — zoned schools average 48% FRL vs 27% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 73% at this address vs 51% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Lexington 05 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 443 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 33% of the median local income ($114k/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?
• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.