22 Lone Cypress St

Travelers Rest, SC 29690

$269,990D-

3 bd · 2.5 ba · 1,443 sqft · Built 2026 · SingleFamily · Active · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,814/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$450
• HOA: −$0
• Vac / Maint / Mgmt: −$381
• Net cashflow: $-433/mo
• Annual: $-5,192/yr
• Cap rate: 4.37%
• Cash-on-cash: -6.87%
• DSCR: 0.69
• 1% rule: 0.67%
• Cash to close: $75,597

Investor read

• This is a 3-bed/2.5-bath single-family listed at $270k. Condition is rated good.
• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (32.8% below list).
• It's been on market 118 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $181k (32.8% 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 73/100 on livability (#41 in SC) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, amenities B+; Watch: commute F, employment F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gateway Elementary (math 57% / reading 55%, grade C+, #109 of 597 statewide, top 19%, 663 students, 62% FRL) — zoned schools average 62% FRL vs 42% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 476 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 86d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 4.4% vs local median 2.2% in Travelers Rest — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 31% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 118 days. Have you received any prior offers? Is the seller open to a 33% 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.
• 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.