1112 Chandler Dr Unit 101

Rock Hill, SC 29732

$149,900F

2 bd · 1.0 ba · 885 sqft · Built 1987 · Condo · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,472/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$206
• HOA: −$160
• Vac / Maint / Mgmt: −$309
• Net cashflow: $11/mo
• Annual: $133/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• 1% rule: 0.98%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath condo listed at $150k.
• At list price, monthly cash flow is $11 ($133/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 $147k (1.8% below list).
• It's been on market 100 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (9.0% 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 $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#62 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime D-, amenities D-.
• York 03 (urban): math 36% / reading 47% proficiency, ranked #32 of 80 in SC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richmond Drive Elementary (math 37% / reading 42%, grade F, #295 of 597 statewide, top 50%, 478 students, 100% FRL); W. C. Sullivan Middle (math 26% / reading 37%, grade F, #124 of 229 statewide, top 55%, 808 students, 58% FRL); Rock Hill High (math 57% / reading 81%, grade B, #65 of 196 statewide, top 34%, 1,945 students, 55% FRL) — zoned schools average 71% FRL vs 49% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 369 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,550 units permitted in York County in 2024 (350 in 5+ unit buildings).
• York County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y 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 $27k; list at $150k implies a 450% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 3.4% in Rock Hill — 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 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 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?
• Crime grade is D 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?
• 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?