447 Annie Ln

Sellers, SC 29565

$55,000B+

4 bd · 2.0 ba · 1,680 sqft · Built 1998 · Other · Pending · 132 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,335/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $679/mo
• Annual: $8,154/yr
• Cap rate: 21.12%
• Cash-on-cash: 52.95%
• DSCR: 3.36
• 1% rule: 2.43%
• Cash to close: $15,400

Investor read

• This is a 4-bed/2.0-bath other listed at $55k.
• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 132 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($380 loan paydown + $3k appreciation (5.8% local appreciation)).
• Location reads 44/100 on livability (#382 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Dillon 03 (rural): math 45% / reading 52% proficiency, ranked #18 of 80 in SC (top 22%) — 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: Latta Elementary (math 52% / reading 47%, grade D, #168 of 597 statewide, top 31%, 621 students, 88% FRL); Latta Middle (math 41% / reading 45%, grade D-, #60 of 229 statewide, top 26%, 471 students, 83% FRL); Latta High (math 50% / reading 92%, grade B+, #54 of 196 statewide, top 28%, 414 students, 71% FRL) — zoned schools average 81% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 81 active listings in the ZIP; 41 units permitted in Dillon County in 2024 (0 in 5+ unit buildings).
• Dillon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $55k implies a 208% gain — meaningful room to come down on a strong offer.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k 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; 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.

Questions for listing agent

• It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.