20 Redfish Way

Hardeeville, SC 29927

$346,961D+

5 bd · 2.5 ba · 2,345 sqft · Built 2026 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,969/mo
• Mortgage (P&I): −$1,820
• Tax + insurance: −$1,005
• HOA: −$0
• Vac / Maint / Mgmt: −$623
• Net cashflow: $-479/mo
• Annual: $-5,749/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• 1% rule: 0.86%
• Cash to close: $97,149

Investor read

• This is a 5-bed/2.5-bath single-family listed at $347k.
• At list price, monthly cash flow is $-479 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $297k (14.4% below list).
• It's been on market 47 days — a 3% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (20.0% below list) — sets the bar for cash-flow.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#136 in SC) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime B+, housing B+; Watch: amenities F, commute F, cost of living F.
• Jasper 01 (rural): math 12% / reading 22% proficiency, ranked #77 of 80 in SC (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hardeeville Elementary (math 9% / reading 13%, grade F, #581 of 597 statewide, top 97%, 610 students, 100% FRL); Hardeeville-Ridgeland Middle (math 8% / reading 17%); Ridgeland Secondary Academy of Excellence (math 17% / reading 57%, grade F, #183 of 196 statewide, top 94%, 639 students, 100% FRL) — zoned schools average 100% FRL vs 78% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-1.7%/yr); 504 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,385 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 98% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.6% in Hardeeville — 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.
• At $2,969/mo this rent would consume 49% of the median local household income ($73k/yr) (locally 337% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 47 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.