130 Shorewood Cir

Westminster, SC 30577

$135,000B-

2 bd · 2.0 ba · 1,056 sqft · Built 2006 · SingleFamily · Active · 262 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,288/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$138
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $172/mo
• Annual: $2,058/yr
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• 1% rule: 0.95%
• Cash to close: $37,800

Investor read

• This is a 2-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $172 ($2k/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 $129k (4.6% below list).
• It's been on market 262 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($933 loan paydown + $8k appreciation (6.2% local appreciation)).
• Location reads 65/100 on livability (#137 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: schools F, amenities F, commute F.
• Stephens County (rural): math 34% / reading 34% proficiency, ranked #74 of 174 in GA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 comparable units currently listed for rent nearby; 52 units permitted in Stephens County in 2024 (0 in 5+ unit buildings).
• Stephens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 4y 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.
• Current owner paid $70k; list at $135k implies a 93% gain — meaningful room to come down on a strong offer.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 4.0% in Westminster — 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

• It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.