104 Elder Branch Rd

Cordova, SC 29039

$185,000D

4 bd · 1.0 ba · 1,270 sqft · Built 1945 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,248/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $-110/mo
• Annual: $-1,326/yr
• Cap rate: 5.58%
• Cash-on-cash: -2.56%
• DSCR: 0.89
• 1% rule: 0.67%
• Cash to close: $51,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (32.5% below list).
• It's been on market 15 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (32.5% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.0% local appreciation)).
• Location reads 60/100 on livability (#230 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: health & safety C-, crime F, amenities F.
• Zoned schools: Edisto Primary (554 students, 100% FRL); Carver Edisto Middle (math 12%, 515 students, 100% FRL); Edisto High (math 24%, 677 students, 100% FRL).
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/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?
• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.