1379 Cassidy Rd

Camden, SC 29020

$180,000D+

3 bd · 2.0 ba · 1,568 sqft · Built 1999 · Manufactured · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,767/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$362
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $91/mo
• Annual: $1,088/yr
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• 1% rule: 0.98%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $91 ($1k/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 $177k (1.8% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $177k (1.8% 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 $5k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#218 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Kershaw 01 (rural): math 38% / reading 51% proficiency, ranked #25 of 80 in SC (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pine Tree Hill Elementary (math 40% / reading 51%, grade D-, #221 of 597 statewide, top 37%, 501 students, 73% FRL); Camden Middle (math 30% / reading 43%, grade F, #98 of 229 statewide, top 43%, 828 students, 100% FRL); Camden High (math 37% / reading 77%, grade C, #120 of 196 statewide, top 64%, 1,124 students, 71% FRL) — zoned schools average 81% FRL vs 49% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 239 active listings in the ZIP; 491 units permitted in Kershaw County in 2024 (0 in 5+ unit buildings).
• Kershaw County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 2y ago 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.
• Climate carrying-cost: major wind risk, 66% 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.
• Cap rate 6.9% vs local median 3.8% in Camden — 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

• 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.