234 Lucky Ln

Rock Hill, SC 29730

$172,000C

2 bd · 1.0 ba · 1,435 sqft · Built 1950 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,705/mo
• Mortgage (P&I): −$902
• Tax + insurance: −$252
• HOA: −$0
• Vac / Maint / Mgmt: −$358
• Net cashflow: $193/mo
• Annual: $2,319/yr
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• 1% rule: 0.99%
• Cash to close: $48,160

Investor read

• This is a 2-bed/1.0-bath single-family listed at $172k.
• At list price, monthly cash flow is $193 ($2k/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 $171k (0.9% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $171k (0.9% below list) — sets the bar for 1% rule.
• 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 70/100 on livability (#62 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime D-, amenities D-.
• York 03 (urban): math 36% / reading 47% proficiency, ranked #32 of 80 in SC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ebinport Elementary (math 22% / reading 32%, grade F, #421 of 597 statewide, top 73%, 459 students, 100% FRL); Rawlinson Road Middle (math 23% / reading 34%, grade F, #144 of 229 statewide, top 63%, 661 students, 100% FRL); South Pointe High (math 47% / reading 77%, grade B-, #99 of 196 statewide, top 53%, 1,196 students, 60% FRL) — zoned schools average 87% FRL vs 49% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.5%/yr); 355 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 4 sale attempts since 11y ago 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.
• Current owner paid $48k; list at $172k implies a 255% 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 7.6% vs local median 3.4% in Rock Hill — 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.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.