300 W Bryd St

Timmonsville, SC 29161

$45,500F

3 bd · 1.0 ba · 1,900 sqft · Built 1931 · SingleFamily · Active · 238 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,294/mo
• Mortgage (P&I): −$1,086
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $-276/mo
• Annual: $-3,308/yr
• Cap rate: 4.70%
• Cash-on-cash: -5.70%
• DSCR: 0.75
• 1% rule: 0.62%
• Cash to close: $57,988

Investor read

• This is a 3-bed/1.0-bath single-family listed at $46k.
• At list price, monthly cash flow is $-276 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• It's been on market 238 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 55/100 on livability (#309 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Florence 01 (urban): math 29% / reading 47% proficiency, ranked #34 of 80 in SC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brockington Elementary Magnet (301 students, 99% FRL) — zoned schools average 99% FRL vs 57% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.3% of price; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 51 active listings in the ZIP; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).
• 3 sale attempts since 3y 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 $31k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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?