212 Ridge St

Bishopville, SC 29010

$126,900C

3 bd · 2.0 ba · 1,934 sqft · Built 1938 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,148/mo
• Mortgage (P&I): −$665
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $165/mo
• Annual: $1,978/yr
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• 1% rule: 0.90%
• Cash to close: $35,532

Investor read

• This is a 3-bed/2.0-bath single-family listed at $127k.
• At list price, monthly cash flow is $165 ($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 $115k (9.5% below list).
• It's been on market 23 days — a 2% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (9.5% below list) — sets the bar for 1% rule.
• In year one you build about $649 of equity ($877 loan paydown + $-228 appreciation (-0.2% local appreciation)).
• Location reads 55/100 on livability (#307 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Lee 01 (rural): math 10% / reading 23% proficiency, ranked #78 of 80 in SC (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 18 units permitted in Lee County in 2024 (0 in 5+ unit buildings).
• Lee County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Current owner paid $79k; list at $127k implies a 61% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 78% 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.

Questions for listing agent

• Built in 1938 — 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 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?
• Crime grade is F 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.