6 bd · 4.0 ba ·
— sqft ·
Built 2025
· MultiFamily
· Active
· 77 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$4,602/mo
Mortgage (P&I)
−$2,417
Tax + insurance
−$768
HOA
−$0
Vac / Maint / Mgmt
−$966
Net cashflow
$450/mo
Annual
$5,403/yr
Cap rate
7.47%
Cash-on-cash
4.19%
DSCR
1.19
1% rule
1.00%
Cash to close
$129,052
Investor read
This is a 6-bed/4.0-bath multifamily listed at $461k.
At list price, monthly cash flow is $450 ($5k/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 $460k (0.2% below list).
It's been on market 77 days — a 6% lower offer ($433k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $433k (6.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
Location reads 79/100 on livability (#14 in SC, #2,248 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, employment F.
Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Thomas E. Kerns Elementary (math 34% / reading 28%, grade F, #385 of 597 statewide, top 65%, 504 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
Zoned-school proficiency averages 31% at this address vs 49% district-wide (-18 pts) — the specific schools serving this property underperform the Greenville 01 average; the district grade overstates school quality for this exact location.
Market conditions: Rents rising (+3.7%/yr); 398 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
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 7.5% vs local median 4.0% in Dunean — 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 $4,602/mo this rent would consume 84% of the median local household income ($66k/yr) (locally 978% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.
Questions for listing agent
It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.
CashFlowRE · CFR-FDERRD1Y03TDJ0
· Data 2 weeks agocashflowre.app · 2026-05-29