1456 Amity Rd

Anderson, SC 29621

$195,000D+

3 bd · 2.0 ba · 1,680 sqft · Built 1998 · Manufactured · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,682/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $186/mo
• Annual: $2,233/yr
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• 1% rule: 0.86%
• Cash to close: $54,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $186 ($2k/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 $168k (13.8% below list).
• It's been on market 34 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (13.8% below list) — sets the bar for 1% rule.
• 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.
• Location reads 67/100 on livability (#98 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime F, commute F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nevitt Forest Elementary (math 26% / reading 23%, grade F, #452 of 597 statewide, top 78%, 577 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 46% district-wide (-22 pts) — the specific schools serving this property underperform the Anderson 05 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.5%/yr); 678 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• Anderson County population projected at +14% 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.
• Cap rate 7.4% vs local median 3.3% in Anderson — 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 34 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• 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.
• 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.