105 Ballard Ln

Santee, SC 29142

$279,000D+

3 bd · 2.0 ba · 1,298 sqft · Built 2006 · Condo · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,605/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$382
• HOA: −$218
• Vac / Maint / Mgmt: −$547
• Net cashflow: $-5/mo
• Annual: $-62/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.08%
• DSCR: 1.00
• 1% rule: 0.93%
• Cash to close: $78,120

Investor read

• This is a 3-bed/2.0-bath condo listed at $279k.
• At list price, monthly cash flow is $-5 ($-62/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (6.6% below list).
• It's been on market 98 days — a 9% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $254k (9.0% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.5% local appreciation)).
• Location reads 61/100 on livability (#202 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Zoned schools: Elloree Elementary (math 10%, 387 students, 100% FRL).
• Market conditions: 154 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 18y 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.
• Current owner paid $220k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?