2550 W Highway 38

Blenheim, SC 29565

$150,000C-

4 bd · 2.0 ba · 2,125 sqft · Built 2011 · Other · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,430/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $93/mo
• Annual: $1,117/yr
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• 1% rule: 0.95%
• Cash to close: $42,000

Investor read

• This is a 4-bed/2.0-bath other listed at $150k.
• At list price, monthly cash flow is $93 ($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 $143k (4.7% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $143k (4.7% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.8% local appreciation)).
• Location reads 54/100 on livability (#330 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Dillon 03 (rural): math 45% / reading 52% proficiency, ranked #18 of 80 in SC (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Latta Elementary (math 52% / reading 47%, grade D, #168 of 597 statewide, top 31%, 621 students, 88% FRL); Latta Middle (math 41% / reading 45%, grade D-, #60 of 229 statewide, top 26%, 471 students, 83% FRL); Latta High (math 50% / reading 92%, grade B+, #54 of 196 statewide, top 28%, 414 students, 71% FRL) — zoned schools average 81% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 81 active listings in the ZIP; 41 units permitted in Dillon County in 2024 (0 in 5+ unit buildings).
• Dillon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 13y 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.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k 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; major wildfire risk; 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

• 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?
• 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?
• 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.