123 Terri Acres

Easley, SC 29642

$387,900F

5 bd · 4.0 ba · 2,995 sqft · Built 2026 · Land · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,322/mo
• Mortgage (P&I): −$2,034
• Tax + insurance: −$237
• HOA: −$39
• Vac / Maint / Mgmt: −$488
• Net cashflow: $-476/mo
• Annual: $-5,710/yr
• Cap rate: 4.82%
• Cash-on-cash: -5.26%
• DSCR: 0.77
• 1% rule: 0.60%
• Cash to close: $108,612

Investor read

• This is a 5-bed/4.0-bath land listed at $388k.
• At list price, monthly cash flow is $-476 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (40.1% below list).
• It's been on market 48 days — a 3% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $232k (40.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#47 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, commute F.
• Anderson 01 (rural): math 58% / reading 60% proficiency, ranked #3 of 80 in SC (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hunt Meadows Elementary (math 61% / reading 54%, grade C+, #99 of 597 statewide, top 17%, 574 students, 47% FRL); Wren Middle (math 54% / reading 59%, grade B, #21 of 229 statewide, top 9%, 973 students, 46% FRL); Wren High (math 82% / reading 91%, grade A, #7 of 196 statewide, top 4%, 1,202 students, 40% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 321 active listings in the ZIP; solid renter incomes; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 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 4.8% vs local median 4.0% in Easley — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 36% of the median local income ($78k/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 48 days. Have you received any prior offers? Is the seller open to a 40% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.