11185 Old Pee Dee Rd

Hemingway, SC 29554

$83,200B

3 bd · 1.0 ba · 1,260 sqft · Built 1981 · SingleFamily · Active · 253 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,141/mo
• Mortgage (P&I): −$436
• Tax + insurance: −$231
• HOA: −$0
• Vac / Maint / Mgmt: −$240
• Net cashflow: $234/mo
• Annual: $2,809/yr
• Cap rate: 9.67%
• Cash-on-cash: 12.06%
• DSCR: 1.54
• 1% rule: 1.37%
• Cash to close: $23,296

Investor read

• This is a 3-bed/1.0-bath single-family listed at $83k.
• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• It's been on market 253 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($575 loan paydown + $6k appreciation (7.8% local appreciation)).
• Location reads 58/100 on livability (#260 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime F, amenities F.
• Georgetown 01 (town): math 26% / reading 38% proficiency, ranked #51 of 80 in SC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.8% of price.
• Market conditions: 40 active listings in the ZIP; 323 units permitted in Georgetown County in 2024 (0 in 5+ unit buildings).
• 5 sale attempts since 11y ago; this cycle's ask has dropped $21k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 96% 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.

Questions for listing agent

• It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 D-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.