3086 Nolana Lp Loop

Graniteville, SC 29829

$219,000C+

3 bd · 2.5 ba · 1,605 sqft · Built 2026 · Townhouse · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,212/mo
• Mortgage (P&I): −$1,148
• Tax + insurance: −$133
• HOA: −$190
• Vac / Maint / Mgmt: −$465
• Net cashflow: $276/mo
• Annual: $3,309/yr
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• 1% rule: 1.01%
• Cash to close: $61,320

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $219k. Condition is rated good.
• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• It's been on market 99 days — a 9% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (9.0% below list) — sets the bar for market timing.
• In year one you build about $20k of equity ($2k loan paydown + $18k appreciation (8.4% local appreciation)).
• Location reads 59/100 on livability (#240 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Graniteville Elementary (math 27%, 377 students, 100% FRL); Leavelle Mccampbell Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 650 students, 55% FRL); Midland Valley High (math 31% / reading 83%, grade C, #120 of 196 statewide, top 64%, 1,477 students, 62% FRL) — zoned schools average 72% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 455 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 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.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.8% vs local median 6.1% in Graniteville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 32% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
• 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.