9118 Windjammer Dr

Tega Cay, SC 29708

$419,900C-

4 bd · 2.5 ba · 2,176 sqft · Built 1973 · SingleFamily · Active · 127 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,354/mo
• Mortgage (P&I): −$2,202
• Tax + insurance: −$399
• HOA: −$0
• Vac / Maint / Mgmt: −$704
• Net cashflow: $49/mo
• Annual: $585/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• 1% rule: 0.80%
• Cash to close: $117,572

Investor read

• This is a 4-bed/2.5-bath single-family listed at $420k.
• At list price, monthly cash flow is $49 ($585/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 $335k (20.1% below list).
• It's been on market 127 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $335k (20.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#53 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• York 04 (suburban): math 65% / reading 71% proficiency, ranked #1 of 80 in SC (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Tega Cay Elementary (math 77% / reading 72%, grade A, #17 of 597 statewide, top 3%, 782 students, 15% FRL); Gold Hill Middle (math 66% / reading 73%, grade A, #8 of 229 statewide, top 4%, 855 students, 11% FRL); Fort Mill High (math 70% / reading 97%, grade A, #16 of 196 statewide, top 8%, 2,036 students, 20% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: Rents rising (+1.5%/yr); 395 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,550 units permitted in York County in 2024 (350 in 5+ unit buildings).
• York County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $242k; list at $420k implies a 73% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 2.9% in Tega Cay — 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.
• This rent runs 30% of the median local income ($132k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 127 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.