365 Armstrong Rd · Seneca, SC 29678

$195,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 274 Days on market

Built 2016

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +12.9/30.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your peaceful retreat on nearly an acre of beautiful South Carolina countryside! This charming three-bedroom, two-bathroom home offers 1,140 square feet of comfortable living space that perfectly balances cozy intimacy with functional design. Step inside to discover a warm and inviting atmosphere anchored by a delightful gas fireplace – perfect for those chilly evenings when you want to curl up with a good book or gather with family and friends. The thoughtful layout maximizes every square foot, creating spaces that flow naturally from room to room. The three bedrooms provide flexibility for growing families, home offices, or guest accommodations, while two full bathrooms e

Key facts

• 0.8-acre lot
• Built 2016
• Listed 274 days

Tags

• 10X20 STORAGE BUILDING
• 0.8-ACRE LOT
• ACCESS TO QUALITY SCHOOLS

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Security: Leased security system
• Utilities: Public water; Septic tank
• Home design: Single-story; Single wide mobile home; Built by Clayton (6–10 years old); Crawlspace foundation
• Construction: Aluminum siding
• Exterior features: Not in a subdivision; Outside city limits; Security system (leased)

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Smooth cooktop; Refrigerator; Electric water heater
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: Ceiling fans; Fireplace (gas log option); Walk-in shower; Low-threshold shower
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $-14 ($-170/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (13.4% below list).
• Recommended offer: $169k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.7% in Seneca — 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.

Location & tenants

• Location reads 73/100 on livability (#40 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Orchard Park Elementary (math 35% / reading 31%, grade F, #364 of 597 statewide, top 61%, 422 students, 100% FRL); West Oak Middle (math 30% / reading 38%, grade F, #110 of 229 statewide, top 49%, 697 students, 86% FRL); West-Oak High (math 47% / reading 80%, grade B-, #95 of 196 statewide, top 49%, 813 students, 75% FRL) — zoned schools average 87% FRL vs 50% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.7%/yr); 370 active listings in the ZIP; 648 units permitted in Oconee County in 2024 (40 in 5+ unit buildings).
• This rent runs 39% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,787 (13.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.71% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.56×
• Total profit: $-24,098
• Equity at exit: $29,075

10-year hold

• IRR: 3.3%
• Equity multiple: 1.29×
• Total profit: $15,858
• Equity at exit: $16,860

Cash invested: $54,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29678

• Home prices YoY: -32.5%
• Rents YoY: 7.7%
• Active inventory: 370
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-14

Break-even live

Break-even rent $1,706

Max offer price $192,948

Occupancy floor 96%

Sensitivity live

Price	-10% $121	-5% $53	+0% $-14	+5% $-82	+10% $-149
Rent	-10% $-148	-5% $-81	+0% $-14	+5% $52	+10% $119
Rate	-1.0pp $84	-0.5pp $35	base $-14	+0.5pp $-65	+1.0pp $-116

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $195,000 Active 274 DOM
2. 2026-06-18
   days on market $195,000 Active 271 DOM
3. 2026-06-17
   days on market $195,000 Active 270 DOM
4. 2026-06-16
   days on market $195,000 Active 269 DOM
5. 2026-06-15
   days on market $195,000 Active 268 DOM
6. 2026-06-13
   days on market $195,000 Active 266 DOM
7. 2026-06-10
   days on market $195,000 Active 263 DOM
8. 2026-06-09
   days on market $195,000 Active 262 DOM
9. 2026-06-08
   days on market $195,000 Active 261 DOM
10. 2026-06-07
    days on market $195,000 Active 260 DOM
11. 2026-06-05
    pricedays on market $195,000 Active 257 DOM
12. 2026-06-03
    days on market $199,000 Active 256 DOM
13. 2026-06-03
    days on market $199,000 Active 255 DOM
14. 2026-06-01
    days on market $199,000 Active 254 DOM
15. 2026-05-31
    days on market $199,000 Active 253 DOM
16. 2026-02-11
    status Active
17. 2026-02-09
    historical Active Under Contract
18. 2025-09-19
    listed $199,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,254
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$5,673
• Taxable loss: −$3,482
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $665/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Oconee 01
• NCES district ID: 4503060
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $42,074
• Composite: 37.03/100
• National rank: #4516
• State rank: #27 of 80 in SC

Livability — Seneca

• Score: 73/100
• State rank: #40
• US rank: #5072

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oconee County · 36,517 people
• City population: 36,517
• Metro: Seneca, SC
• Population (ZIP): 23,767
• Household income: $52,550
• Rent vs Own: 36.9% rent · 63.1% own
• Severe rent burden: 822.0

Population outlook (Oconee County) Hauer SSP2

• Today (2025): 77,950 people
• By 2030: 78,551 · +0.8%
• By 2040: 78,628 · +0.9%
• By 2050: 77,052 · -1.2%
• By 2075: 71,098 · -8.8%
• By 2100: 61,216 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 18% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada, United Kingdom
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Oconee

• 2024 margin: Solid R (+51.5) · D 23.6% · R 75.2% · Other 1.2%
• 2008→2024 swing: -14.0pp toward R · 2008: -37.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+47.4 2016: R+48.1 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.37%
• Current HPI: 189.6751
• Rent YoY: ▲ 7.71%
• Metro: Seneca, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

3 events — show timeline

• 2026-02-11 Relisted — WUMLS
• 2026-02-09 Contingent — WUMLS
• 2025-09-19 Listed $199,000 WUMLS