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Homeland Park, SC 29626

$93,600B-

3 bd · 2.0 ba · 1,339 sqft · Built 1978 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,338/mo
• Mortgage (P&I): −$491
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $410/mo
• Annual: $4,919/yr
• Cap rate: 11.55%
• Cash-on-cash: 18.77%
• DSCR: 1.84
• 1% rule: 1.43%
• Cash to close: $26,208

Investor read

• This is a 3-bed/2.0-bath single-family listed at $94k. Condition is rated poor.
• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 37 days — a 3% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $647 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#299 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Homeland Park Primary (427 students, 100% FRL); Robert Anderson Middle (math 27% / reading 27%, grade F, #153 of 229 statewide, top 68%, 1,131 students, 100% FRL); Westside High (math 53% / reading 75%, grade B-, #92 of 196 statewide, top 48%, 1,769 students, 89% FRL) — zoned schools average 96% FRL vs 52% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 119 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.5% vs local median 4.8% in Homeland Park — 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 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1978 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition with visible wear and tear.
• Major: exterior siding — The exterior walls are in poor condition with visible damage and missing siding.
• Major: flooring — The flooring throughout the home appears to be in poor condition and may need replacement.
• Major: windows — The windows appear to be in poor condition with some missing or damaged.
• Major: interior walls — The interior walls appear to be in poor condition with visible damage and peeling paint.
• Major: HVAC system — The HVAC system appears to be in poor condition and may need replacement.