15 Silver St #102

Ridgeland, SC 29936

$279,000D

3 bd · 2.5 ba · 1,675 sqft · Built 2024 · Townhouse · Active · 552 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,076/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$465
• HOA: −$0
• Vac / Maint / Mgmt: −$436
• Net cashflow: $-288/mo
• Annual: $-3,459/yr
• Cap rate: 5.05%
• Cash-on-cash: -4.43%
• DSCR: 0.80
• 1% rule: 0.74%
• Cash to close: $78,120

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $279k.
• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (25.6% below list).
• It's been on market 552 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (25.6% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#81 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D-, amenities F, commute F.
• Jasper 01 (rural): math 12% / reading 22% proficiency, ranked #77 of 80 in SC (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ridgeland Elementary (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 829 students, 100% FRL); Hardeeville-Ridgeland Middle (math 8% / reading 17%); Ridgeland Secondary Academy of Excellence (math 17% / reading 57%, grade F, #183 of 196 statewide, top 94%, 639 students, 100% FRL) — zoned schools average 100% FRL vs 78% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 359 active listings in the ZIP; 1,385 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,076/mo this rent would consume 51% of the median local household income ($49k/yr) (locally 395% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 552 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• 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 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 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?
• 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.