11 Heatherfield Dr

Fountain Inn, SC 29680

$270,000D

3 bd · 2.5 ba · 1,368 sqft · Built 2013 · SingleFamily · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,054/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$201
• HOA: −$44
• Vac / Maint / Mgmt: −$431
• Net cashflow: $-38/mo
• Annual: $-455/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• 1% rule: 0.76%
• Cash to close: $75,600

Investor read

• This is a 3-bed/2.5-bath single-family listed at $270k.
• At list price, monthly cash flow is $-38 ($-455/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (23.9% below list).
• It's been on market 109 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $205k (23.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#4 in SC, #1,162 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fork Shoals School (math 47% / reading 52%, grade D, #168 of 597 statewide, top 31%, 792 students, 58% FRL) — zoned schools average 58% FRL vs 42% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.9%/yr); 243 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; list at $270k implies a 74% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 4.2% in Fountain Inn — 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 109 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.