43 Mcelveen Cir

Lynchburg, SC 29080

$129,990D+

3 bd · 2.0 ba · 1,456 sqft · Built 2022 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,127/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$138
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $70/mo
• Annual: $843/yr
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• 1% rule: 0.87%
• Cash to close: $36,397

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated average.
• At list price, monthly cash flow is $70 ($843/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 $113k (13.3% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $113k (13.3% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($898 loan paydown + $1k appreciation (1.1% local appreciation)).
• Location reads 53/100 on livability (#338 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Lee 01 (rural): math 10% / reading 23% proficiency, ranked #78 of 80 in SC (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lower Lee Elementary (math 24% / reading 15%, grade F, #496 of 597 statewide, top 83%, 175 students, 100% FRL); Lee Central Middle (math 2% / reading 17%, grade F, #223 of 229 statewide, top 97%, 358 students, 100% FRL); Lee Central High (math 12% / reading 52%, grade F, #187 of 196 statewide, top 96%, 450 students, 100% FRL) — zoned schools average 100% FRL vs 84% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 13 active listings in the ZIP; 18 units permitted in Lee County in 2024 (0 in 5+ unit buildings).
• Lee County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Interior walls and exterior siding could use a fresh coat of paint.
• Minor: Curtains — Windows could benefit from new curtains for a fresh look.