1055 St. Martin St

Georgetown, SC 29440

$323,840C+

4 bd · 2.0 ba · 1,774 sqft · Built 2026 · SingleFamily · Pending · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,000/mo
• Mortgage (P&I): −$1,698
• Tax + insurance: −$540
• HOA: −$77
• Vac / Maint / Mgmt: −$840
• Net cashflow: $845/mo
• Annual: $10,140/yr
• Cap rate: 9.42%
• Cash-on-cash: 11.18%
• DSCR: 1.50
• 1% rule: 1.24%
• Cash to close: $90,675

Investor read

• This is a 4-bed/2.0-bath single-family listed at $324k. Condition is rated good.
• At list price, monthly cash flow is $845 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $324k).
• It's been on market 59 days — a 3% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $314k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#141 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools F, crime F.
• Georgetown 01 (town): math 26% / reading 38% proficiency, ranked #51 of 80 in SC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 409 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 323 units permitted in Georgetown County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 4.7% in Georgetown — 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 59 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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?
• 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.