131 Lazzon Rd

Moore, SC 29369

$272,900D-

4 bd · 2.0 ba · 1,498 sqft · Built 2026 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,852/mo
• Mortgage (P&I): −$1,431
• Tax + insurance: −$455
• HOA: −$63
• Vac / Maint / Mgmt: −$389
• Net cashflow: $-486/mo
• Annual: $-5,831/yr
• Cap rate: 4.16%
• Cash-on-cash: -7.63%
• DSCR: 0.66
• 1% rule: 0.68%
• Cash to close: $76,412

Investor read

• This is a 4-bed/2.0-bath single-family listed at $273k. Condition is rated good.
• At list price, monthly cash flow is $-486 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (25.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (32.1% below list).
• It's been on market 17 days — a 2% lower offer ($269k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (32.1% 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.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Reidville Elementary (math 57% / reading 57%, grade C+, #102 of 597 statewide, top 18%, 667 students, 46% FRL); Berry Shoals Intermediate (math 54% / reading 48%, grade C, #36 of 229 statewide, top 16%, 902 students, 56% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL).
• Market conditions: Rents rising (+1.8%/yr); 426 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• Spartanburg County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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.
• 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.