145 Wincay

Dentsville, SC 29223-1937

$168,000D-

2 bd · 2.0 ba · 1,120 sqft · Built 2005 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,356/mo
• Mortgage (P&I): −$881
• Tax + insurance: −$317
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $-127/mo
• Annual: $-1,520/yr
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• 1% rule: 0.81%
• Cash to close: $47,040

Investor read

• This is a 2-bed/2.0-bath single-family listed at $168k.
• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (19.3% below list).
• It's been on market 55 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (19.3% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 71/100 on livability (#50 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime F, commute F.
• Richland 02 (suburban): math 35% / reading 47% proficiency, ranked #29 of 80 in SC (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Windsor Elementary (math 21% / reading 23%, grade F, #475 of 597 statewide, top 81%, 537 students, 100% FRL) — zoned schools average 100% FRL vs 38% district-wide (62 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 41% district-wide (-19 pts) — the specific schools serving this property underperform the Richland 02 average; the district grade overstates school quality for this exact location.
• Market conditions: 1 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y ago 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.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 68% 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

• 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 55 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.