300 Betsy St

Iva, SC 29655

$171,000C

2 bd · 1.0 ba · 1,177 sqft · Built 1952 · Other · Active · 244 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,765/mo
• Mortgage (P&I): −$897
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $350/mo
• Annual: $4,195/yr
• Cap rate: 8.75%
• Cash-on-cash: 8.76%
• DSCR: 1.39
• 1% rule: 1.03%
• Cash to close: $47,880

Investor read

• This is a 2-bed/1.0-bath other listed at $171k.
• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• It's been on market 244 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#100 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, crime D.
• Anderson 03 (rural): math 44% / reading 49% proficiency, ranked #22 of 80 in SC (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 105 active listings in the ZIP; 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.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $18k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $171k implies a 511% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• It's been on market 244 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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 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 D 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.