115 Bloomsbury Dr

Edmund, SC 29073

$279,900D-

3 bd · 2.5 ba · 2,325 sqft · Built 2026 · SingleFamily · Pending · 164 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,438/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$466
• HOA: −$33
• Vac / Maint / Mgmt: −$512
• Net cashflow: $-41/mo
• Annual: $-492/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• 1% rule: 0.87%
• Cash to close: $78,372

Investor read

• This is a 3-bed/2.5-bath single-family listed at $280k.
• At list price, monthly cash flow is $-41 ($-492/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (12.9% below list).
• It's been on market 164 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (12.9% 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lexington 02 (suburban): math 30% / reading 38% proficiency, ranked #45 of 80 in SC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Congaree Elementary (math 27% / reading 24%, grade F, #444 of 597 statewide, top 75%, 368 students, 100% FRL); Airport High (math 40% / reading 79%, grade C+, #110 of 196 statewide, top 58%, 1,428 students, 84% FRL) — zoned schools average 92% FRL vs 59% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 563 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 38% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 164 days. Have you received any prior offers? Is the seller open to a 13% 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.