40 Pollen Dr

Ridgeland, SC 29936

$352,490D-

4 bd · 2.0 ba · 1,774 sqft · Built 2026 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,445/mo
• Mortgage (P&I): −$1,848
• Tax + insurance: −$587
• HOA: −$0
• Vac / Maint / Mgmt: −$514
• Net cashflow: $-504/mo
• Annual: $-6,049/yr
• Cap rate: 4.58%
• Cash-on-cash: -6.13%
• DSCR: 0.73
• 1% rule: 0.69%
• Cash to close: $98,697

Investor read

• This is a 4-bed/2.0-bath single-family listed at $352k. Condition is rated good.
• At list price, monthly cash flow is $-504 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (30.6% below list).
• It's been on market 46 days — a 3% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $245k (30.6% below list) — sets the bar for 1% rule.
• In year one you build about $38k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#81 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, crime D-, amenities F.
• Jasper 01 (rural): math 12% / reading 22% proficiency, ranked #77 of 80 in SC (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 359 active listings in the ZIP; 1,385 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% 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.
• At $2,445/mo this rent would consume 60% of the median local household income ($49k/yr) (locally 395% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 46 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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 D 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?
• 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.