723 Kings Mountain St

Clover, SC 29710

$145,000B

2 bd · 1.0 ba · 961 sqft · Built 1968 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,796/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$377
• Net cashflow: $417/mo
• Annual: $5,000/yr
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• 1% rule: 1.24%
• Cash to close: $40,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 (#63 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, employment D, amenities F.
• York 02 (rural): math 61% / reading 63% proficiency, ranked #2 of 80 in SC (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kinard Elementary (math 47% / reading 42%, grade F, #226 of 597 statewide, top 40%, 441 students, 61% FRL); Clover High (math 86% / reading 94%, grade A+, #4 of 196 statewide, top 2%, 2,685 students, 35% FRL) — zoned schools average 48% FRL vs 26% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 356 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.
• Climate carrying-cost: moderate wind risk, 25% 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 9.7% vs local median 4.2% in Clover — 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

• Built in 1968 — 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.
• 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.
• 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.