27069 Catamaran Dr

Tega Cay, SC 29708

$270,000D+

2 bd · 1.5 ba · 1,250 sqft · Built 1973 · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,200/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$360
• HOA: −$0
• Vac / Maint / Mgmt: −$462
• Net cashflow: $-39/mo
• Annual: $-463/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• 1% rule: 0.81%
• Cash to close: $75,600

Investor read

• This is a 2-bed/1.5-bath single-family listed at $270k.
• At list price, monthly cash flow is $-39 ($-463/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (18.5% below list).
• It's been on market 28 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (18.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#53 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.
• York 04 (suburban): math 65% / reading 71% proficiency, ranked #1 of 80 in SC (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Gold Hill Elementary (math 78% / reading 77%, grade A, #9 of 597 statewide, top 2%, 877 students, 20% FRL); Fort Mill High (math 70% / reading 97%, grade A, #16 of 196 statewide, top 8%, 2,036 students, 20% FRL) — zoned schools at 20% FRL track the district average.
• Zoned-school proficiency averages 80% at this address vs 68% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the York 04 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.5%/yr); 391 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 2,550 units permitted in York County in 2024 (350 in 5+ unit buildings).
• York County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 10y ago 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 2.9% in Tega Cay — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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?
• Built in 1973 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.