4505 Crimson Pass

Graniteville, SC 29829

$279,500D

3 bd · 2.0 ba · 1,714 sqft · Built 2026 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,006/mo
• Mortgage (P&I): −$1,466
• Tax + insurance: −$466
• HOA: −$29
• Vac / Maint / Mgmt: −$421
• Net cashflow: $-376/mo
• Annual: $-4,508/yr
• Cap rate: 4.68%
• Cash-on-cash: -5.76%
• DSCR: 0.74
• 1% rule: 0.72%
• Cash to close: $78,260

Investor read

• This is a 3-bed/2.0-bath single-family listed at $280k. Condition is rated good.
• At list price, monthly cash flow is $-376 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (28.2% below list).
• It's been on market 38 days — a 3% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (28.2% below list) — sets the bar for 1% rule.
• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (8.4% local appreciation)).
• Location reads 59/100 on livability (#240 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Byrd Elementary (math 28% / reading 36%, grade F, #369 of 597 statewide, top 64%, 657 students, 37% FRL); Leavelle Mccampbell Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 650 students, 55% FRL); Midland Valley High (math 31% / reading 83%, grade C, #120 of 196 statewide, top 64%, 1,477 students, 62% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 299 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 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.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.7% vs local median 5.9% in Graniteville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 38 days. Have you received any prior offers? Is the seller open to a 28% 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?
• 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?
• 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?
• 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.