554 Woodland Rd

Silverstreet, SC 29145

$140,000C-

4 bd · 3.0 ba · 2,531 sqft · Built 1977 · Other · Pending · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,287/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $151/mo
• Annual: $1,810/yr
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• 1% rule: 0.92%
• Cash to close: $39,200

Investor read

• This is a 4-bed/3.0-bath other listed at $140k.
• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (8.1% below list).
• It's been on market 23 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (8.1% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($968 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#146 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities F, commute F.
• Newberry 01 (rural): math 32% / reading 40% proficiency, ranked #40 of 80 in SC (top 50%) — 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: Reuben Elementary (math 24% / reading 24%, grade F, #452 of 597 statewide, top 78%, 153 students, 100% FRL); Newberry High (math 42% / reading 67%, grade C-, #130 of 196 statewide, top 69%, 802 students, 91% FRL) — zoned schools average 95% FRL vs 60% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 155 units permitted in Newberry County in 2024 (0 in 5+ unit buildings).
• Newberry County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 33% chance of damaging wind over 30y; 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

• Built in 1977 — 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.
• 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.