4537 Crimson Pass

Graniteville, SC 29829

$361,655D

5 bd · 3.0 ba · 3,209 sqft · Built 2025 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,536/mo
• Mortgage (P&I): −$1,897
• Tax + insurance: −$603
• HOA: −$29
• Vac / Maint / Mgmt: −$533
• Net cashflow: $-525/mo
• Annual: $-6,298/yr
• Cap rate: 4.55%
• Cash-on-cash: -6.22%
• DSCR: 0.72
• 1% rule: 0.70%
• Cash to close: $101,263

Investor read

• This is a 5-bed/3.0-bath single-family listed at $362k. Condition is rated excellent.
• At list price, monthly cash flow is $-525 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (29.9% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $254k (29.9% below list) — sets the bar for 1% rule.
• In year one you build about $33k of equity ($2k loan paydown + $30k appreciation (8.4% local appreciation)).
• Location reads 59/100 on livability (#240 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Byrd Elementary (math 28% / reading 36%, grade F, #369 of 597 statewide, top 64%, 657 students, 37% FRL); Leavelle Mccampbell Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 650 students, 55% FRL); Midland Valley High (math 31% / reading 83%, grade C, #120 of 196 statewide, top 64%, 1,477 students, 62% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 299 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.6% vs local median 5.9% in Graniteville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 36% of the median local income ($84k/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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.