12 Bayswater Rd

Quinby, SC 29506

$159,900C-

4 bd · 2.0 ba · 2,499 sqft · Built 1960 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,315/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $73/mo
• Annual: $873/yr
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• 1% rule: 0.82%
• Cash to close: $44,772

Investor read

• This is a 4-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $73 ($873/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 $132k (17.7% below list).
• It's been on market 157 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (17.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#27 in SC, #4,126 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Florence 01 (urban): math 29% / reading 47% proficiency, ranked #34 of 80 in SC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Henry Timrod Elementary (math 15% / reading 32%, grade F, #467 of 597 statewide, top 78%, 282 students, 100% FRL); Williams Middle (math 23% / reading 46%, grade F, #107 of 229 statewide, top 47%, 836 students, 100% FRL); Wilson High (math 52% / reading 75%, grade B-, #95 of 196 statewide, top 49%, 1,365 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 82 active listings in the ZIP; lower-income renter base — watch delinquency; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).
• Current owner paid $89k; list at $160k implies a 80% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 39% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.