1366 Whispering Willow Ct Unit MT 40 Magnolia BEL

Inman, SC 29349

$195,799D-

3 bd · 2.5 ba · 1,403 sqft · Built 2025 · Townhouse · Pending · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,746/mo
• Mortgage (P&I): −$1,027
• Tax + insurance: −$326
• HOA: −$127
• Vac / Maint / Mgmt: −$367
• Net cashflow: $-101/mo
• Annual: $-1,212/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• 1% rule: 0.89%
• Cash to close: $54,824

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $196k.
• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (10.8% below list).
• It's been on market 96 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (10.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#29 in SC, #4,452 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Spartanburg 02 (suburban): math 49% / reading 56% proficiency, ranked #6 of 80 in SC (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James H. Hendrix Elementary (math 55% / reading 45%, grade D+, #163 of 597 statewide, top 28%, 694 students, 89% FRL); Boiling Springs Middle (math 39% / reading 50%, grade D, #52 of 229 statewide, top 23%, 1,068 students, 70% FRL) — zoned schools average 79% FRL vs 44% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 693 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• Spartanburg County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.7% vs local median 4.3% in Inman — 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.

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 96 days. Have you received any prior offers? Is the seller open to a 11% 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?
• 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.