100 Warren Ave

Lamar, SC 29069

$135,000C-

4 bd · 3.0 ba · 2,235 sqft · Built 1964 · Other · Active · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,324/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$241
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $98/mo
• Annual: $1,171/yr
• Cap rate: 7.16%
• Cash-on-cash: 3.10%
• DSCR: 1.14
• 1% rule: 0.98%
• Cash to close: $37,800

Investor read

• This is a 4-bed/3.0-bath other listed at $135k.
• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (1.9% below list).
• It's been on market 96 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (2.7% local appreciation)).
• Location reads 63/100 on livability (#175 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Darlington 01 (town): math 27% / reading 37% proficiency, ranked #52 of 80 in SC (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Darlington High (math 49% / reading 73%, grade C+, #105 of 196 statewide, top 54%, 1,054 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 61% at this address vs 32% district-wide (+29 pts) — the actual schools serving this property are materially stronger than the Darlington 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 13 active listings in the ZIP; 195 units permitted in Darlington County in 2024 (0 in 5+ unit buildings).
• Darlington County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $135k implies a 309% gain — meaningful room to come down on a strong offer.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.