1084 Primrose Dr Unit 25c

North Augusta, SC 29860

$229,000F

2 bd · 2.0 ba · 1,230 sqft · Built 2026 · Condo · Active · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,858/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$382
• HOA: −$244
• Vac / Maint / Mgmt: −$390
• Net cashflow: $-358/mo
• Annual: $-4,302/yr
• Cap rate: 4.41%
• Cash-on-cash: -6.71%
• DSCR: 0.70
• 1% rule: 0.81%
• Cash to close: $64,120

Investor read

• This is a 2-bed/2.0-bath condo listed at $229k. Condition is rated good.
• At list price, monthly cash flow is $-358 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (18.9% below list).
• It's been on market 89 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (22.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#56 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Edgefield 01 (rural): math 26% / reading 39% proficiency, ranked #48 of 80 in SC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Merriwether Elementary (math 35% / reading 42%, grade F, #306 of 597 statewide, top 51%, 768 students, 59% FRL); Merriwether Middle (math 29% / reading 41%, grade F, #104 of 229 statewide, top 46%, 367 students, 62% FRL); Strom Thurmond High (math 27% / reading 72%, grade D, #151 of 196 statewide, top 79%, 748 students, 74% FRL).
• Market conditions: 455 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 181 units permitted in Edgefield County in 2024 (0 in 5+ unit buildings).
• Edgefield County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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.

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 89 days. Have you received any prior offers? Is the seller open to a 23% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.