131 Wexford Dr

Anderson, SC 29621

$115,000C-

1 bd · 1.0 ba · 850 sqft · Built 1998 · Townhouse · Active · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,288/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$260
• Vac / Maint / Mgmt: −$271
• Net cashflow: $-37/mo
• Annual: $-444/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 1.12%
• Cash to close: $32,200

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $-37 ($-444/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (4.7% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 131 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#98 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime F, commute F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Midway Elementary (math 65% / reading 58%, grade B, #76 of 597 statewide, top 13%, 699 students, 46% FRL); Glenview Middle (math 38% / reading 45%, grade F, #68 of 229 statewide, top 31%, 733 students, 69% FRL); T. L. Hanna High (math 63% / reading 91%, grade A-, #28 of 196 statewide, top 16%, 1,910 students, 53% FRL) — zoned schools at 56% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 46% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Anderson 05 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 20% of rent.
• Market conditions: Rents rising fast (+6.5%/yr); 973 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 99d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 4 sale attempts; this cycle's ask has dropped $25k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 3.2% in Anderson — 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 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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?

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely outdated and in poor condition
• Major: bathroom fixtures — outdated and in poor condition
• Minor: exterior siding — some discoloration