813 Windsor Way

Marion, SC 29571

$105,000D

3 bd · 1.0 ba · 1,270 sqft · Built 1950 · Other · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $898/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $56/mo
• Annual: $672/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• 1% rule: 0.85%
• Cash to close: $29,400

Investor read

• This is a 3-bed/1.0-bath other listed at $105k.
• At list price, monthly cash flow is $56 ($672/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 $90k (14.5% below list).
• It's been on market 37 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (14.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#306 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Marion 10 (town): math 9% / reading 23% proficiency, ranked #79 of 80 in SC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 76 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Marion County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $20k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 80% 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.
• Cap rate 6.9% vs local median 3.3% in Marion — 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

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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 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 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?
• 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.