109 Armanda Rd

Lexington, SC 29072

$264,900D

3 bd · 2.0 ba · 1,579 sqft · Built 1995 · SingleFamily · Pending · 208 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,923/mo
• Mortgage (P&I): −$1,389
• Tax + insurance: −$156
• HOA: −$6
• Vac / Maint / Mgmt: −$404
• Net cashflow: $-32/mo
• Annual: $-382/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• 1% rule: 0.73%
• Cash to close: $74,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $-32 ($-382/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (27.4% below list).
• It's been on market 208 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (27.4% 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 81/100 on livability (#8 in SC, #1,502 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, employment A; Watch: commute F.
• Lexington 01 (suburban): math 42% / reading 53% proficiency, ranked #11 of 80 in SC (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Midway Elementary (math 65% / reading 63%, grade B, #63 of 597 statewide, top 11%, 891 students, 9% FRL); Meadow Glen Middle (math 51% / reading 65%, grade B, #17 of 229 statewide, top 7%, 808 students, 20% FRL); River Bluff High (math 54% / reading 93%, grade B+, #43 of 196 statewide, top 22%, 2,197 students, 19% FRL).
• Zoned-school proficiency averages 65% at this address vs 48% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Lexington 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.2%/yr); 714 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask has dropped $45k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $143k; list at $265k implies a 85% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 67% 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

• 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?
• It's been on market 208 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.