112 James Pl

Harleyville, SC 29448

$142,900D

3 bd · 1.0 ba · 1,074 sqft · Built 1971 · SingleFamily · Pending · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,153/mo
• Mortgage (P&I): −$749
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-21/mo
• Annual: $-253/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• 1% rule: 0.81%
• Cash to close: $40,012

Investor read

• This is a 3-bed/1.0-bath single-family listed at $143k.
• At list price, monthly cash flow is $-21 ($-253/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (19.3% below list).
• It's been on market 199 days — a 12% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (19.3% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($988 loan paydown + $4k appreciation (2.6% local appreciation)).
• Location reads 62/100 on livability (#189 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Dorchester 04 (rural): math 17% / reading 33% proficiency, ranked #62 of 80 in SC (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harleyville Elementary (math 12% / reading 17%, grade F, #553 of 597 statewide, top 95%, 226 students, 100% FRL); Harleyville-Ridgeville Middle (math 7% / reading 25%, grade F, #196 of 229 statewide, top 87%, 169 students, 100% FRL); Woodland High (math 5% / reading 87%, grade D-, #163 of 196 statewide, top 83%, 612 students, 100% FRL) — zoned schools average 100% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 1,199 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• Dorchester County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 16y ago; this cycle's ask has dropped $72k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 2.9% in Harleyville — 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

• 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 199 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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.
• 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?