2369 Hallmark Dr · Florence, SC 29505

$185,000

4 bd · 2.0 ba · 2,418 sqft · SingleFamily public records · 461 Days on market

Built 1978 0.48 ac lot Est $348k · 47% under ↓ 26% since listing

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Why this score? — see what drove the C- 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 +15.2/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +4.7/10.0
• Rent growth +4.2/5.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the desirable Hallmark Subdivision in South Florence, this spacious 3-bedroom, 2-bathroom home offers a GREAT opportunity for those looking to put their personal touch on a property. With several major updates already completed, this home provides a solid foundation and potential for customization. The home features a new roof, ensuring long-term durability and peace of mind. A brand-new HVAC system has been installed to keep you comfortable throughout the year, and the energy-efficient insulated windows help to maintain a comfortable temperature while reducing utility costs. Outdoor living is a breeze with a large deck, perfect for relaxation or entertaining, along with two invi

Key facts

• Large deck
• Two screened porches
• New roof

Tags

• NEW ROOF
• BRAND NEW HVAC SYSTEM
• LARGE DECK
• TWO SCREENED PORCHES

Property features AI

Finance

• Other: Lot size approximately 0.48 acre; Subdivision: HALLMARK

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Wood siding exterior; Shingle roof; Crawl space foundation; Built living area above grade: 2,418
• Exterior features: Deck; Porch (screened); Fenced yard

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Insulated windows

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $66 ($789/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 $185k (0.3% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.5% in Florence — 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 62/100 on livability (#196 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, crime F, amenities 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: Mclaurin Elementary (math 27% / reading 43%, grade F, #339 of 597 statewide, top 57%, 957 students, 100% FRL); Southside Middle (math 18% / reading 38%, grade F, #146 of 229 statewide, top 64%, 1,100 students, 100% FRL); South Florence High (math 58% / reading 86%, grade B+, #48 of 196 statewide, top 26%, 1,643 students, 77% FRL) — zoned schools average 92% FRL vs 57% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 185 active listings in the ZIP; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/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 461 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $65k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 461 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $348,192
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2402 South Hallmark Dr	0.06mi	4/3.0	2,418 (0%)	1mo	$318,900	$132	92
2342 Hallmark Dr	0.10mi	4/2.5	2,400 (-1%)	1mo	$352,400	$147	91
3048 Wild Turkey Dr	0.26mi	5/3.0 (+1)	2,327 (-4%)	2mo	$290,000	$125	71
920 Charlestowne Blvd	0.35mi	4/2.5	2,200 (-9%)	3mo	$303,000	$138	64
1200 Turtle Dove Dr	0.32mi	5/3.0 (+1)	2,346 (-3%)	12mo	$309,000	$132	61
892 Ivanhoe Dr	0.53mi	4/2.5	2,229 (-8%)	2mo	$319,950	$144	59
1971 Mcclellan St	0.41mi	4/3.5	2,614 (+8%)	4mo	$315,000	$121	58
808 Cloisters Dr	0.68mi	3/2.5 (-1)	2,340 (-3%)	5mo	$321,500	$137	52
801 Cloisters Dr	0.73mi	4/2.5	2,560 (+6%)	7mo	$376,000	$147	48
809 Saint George Dr	0.61mi	4/3.0	2,105 (-13%)	3mo	$339,900	$161	44
1880 S Walter Dr	0.74mi	3/2.0 (-1)	2,200 (-9%)	4mo	$390,000	$177	42
735 Saint George Dr	0.70mi	3/2.0 (-1)	2,085 (-14%)	13mo	$319,900	$153	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.97% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.65×
• Total profit: $-18,028
• Equity at exit: $27,584

10-year hold

• IRR: 5.3%
• Equity multiple: 1.47×
• Total profit: $24,224
• Equity at exit: $15,995

Cash invested: $51,800 (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 29505

• Rents YoY: 7.0%
• Active inventory: 185
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,845 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$345 /mo · $4,135/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $66

Break-even live

Break-even rent $1,762

Max offer price $185,000

Occupancy floor 91%

Sensitivity live

Price	-10% $170	-5% $118	+0% $66	+5% $13	+10% $-39
Rent	-10% $-80	-5% $-7	+0% $66	+5% $139	+10% $212
Rate	-1.0pp $159	-0.5pp $113	base $66	+0.5pp $18	+1.0pp $-31

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-16
   days on market $185,000 Active 461 DOM
2. 2026-06-15
   days on market $185,000 Active 460 DOM
3. 2026-06-14
   days on market $185,000 Active 458 DOM
4. 2026-06-13
   days on market $185,000 Active 457 DOM
5. 2026-06-10
   days on market $185,000 Active 455 DOM
6. 2026-06-09
   days on market $185,000 Active 454 DOM
7. 2026-06-08
   days on market $185,000 Active 453 DOM
8. 2026-06-07
   days on market $185,000 Active 452 DOM
9. 2026-06-05
   days on market $185,000 Active 449 DOM
10. 2026-06-02
    days on market $185,000 Active 447 DOM
11. 2026-06-01
    days on market $185,000 Active 446 DOM
12. 2026-05-31
    days on market $185,000 Active 445 DOM
13. 2026-05-30
    days on market $185,000 Active 444 DOM
14. 2026-04-15
    status Active Under Contract
15. 2026-02-20
    historical Active Under Contract
16. 2025-12-10
    status Active
17. 2025-10-02
    price $185,000
18. 2025-08-01
    status Active
19. 2025-08-01
    price $189,900
20. 2025-04-02
    price $199,900
21. 2025-03-10
    price $209,500
22. 2025-02-14
    price $225,000
23. 2025-01-27
    listed $250,000 Active

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

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $4,135 · $345/mo
• Projected year-2 tax: $4,135 · $345/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,140
• − Mortgage interest: −$10,363
• − Property taxes: −$4,135
• − Insurance: −$925
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$5,382
• Taxable loss: −$2,207
• Est. tax savings @ 24.0%: +$530
• After-tax cash flow: $1,319/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: Florence 01
• NCES district ID: 4502130
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $45,782
• Composite: 32.36/100
• National rank: #5737
• State rank: #34 of 80 in SC

Livability — Florence

• Score: 62/100
• State rank: #196
• US rank: #17076

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Florence County · 93,345 people
• City population: 93,345
• Metro: Florence, SC
• Population (ZIP): 23,895
• Household income: $67,343
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 559.0

Population outlook (Florence County) Hauer SSP2

• Today (2025): 141,714 people
• By 2030: 142,121 · +0.3%
• By 2040: 141,344 · -0.3%
• By 2050: 139,478 · -1.6%
• By 2075: 132,275 · -6.7%
• By 2100: 118,374 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 53% Black 38% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Florence

• 2024 margin: Lean R (+8.0) · D 45.3% · R 53.3% · Other 1.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -3.2pp · 2024: -8.0pp
• All cycles: 2024: R+8.0 2020: R+2.3 2016: R+5.0 2012: R+0.5 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.13%
• Current HPI: 177.9352
• Rent YoY: ▲ 6.97%
• Metro: Florence, 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

-26.0% since first listed

10 events — show timeline

• 2026-04-15 Relisted — RAGPD
• 2026-02-20 Contingent — RAGPD
• 2025-12-10 Relisted — RAGPD
• 2025-10-02 Price Changed $185,000 RAGPD
• 2025-08-01 Relisted — RAGPD
• 2025-08-01 Price Changed $189,900 RAGPD
• 2025-04-02 Price Changed $199,900 RAGPD
• 2025-03-10 Price Changed $209,500 RAGPD
• 2025-02-14 Price Changed $225,000 RAGPD
• 2025-01-27 Listed $250,000 RAGPD

Property tax history

+18.0%/yr

Latest (2025): $4,135 · +568.1% YoY. Source: county tax records.