422 Viceroy Path

Gilbert, SC 29054

$281,225D

4 bd · 2.5 ba · 2,068 sqft · Built 2026 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,010/mo
• Mortgage (P&I): −$1,475
• Tax + insurance: −$469
• HOA: −$44
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-400/mo
• Annual: $-4,795/yr
• Cap rate: 4.59%
• Cash-on-cash: -6.09%
• DSCR: 0.73
• 1% rule: 0.71%
• Cash to close: $78,743

Investor read

• This is a 4-bed/2.5-bath single-family listed at $281k.
• At list price, monthly cash flow is $-400 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (28.5% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $201k (28.5% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#52 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Lexington 01 (suburban): math 42% / reading 53% proficiency, ranked #11 of 80 in SC (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gilbert Elementary (math 33% / reading 26%, grade F, #399 of 597 statewide, top 69%, 768 students, 45% FRL); Gilbert Middle (math 26% / reading 36%, grade F, #128 of 229 statewide, top 58%, 822 students, 40% FRL); Gilbert High (math 37% / reading 83%, grade C+, #109 of 196 statewide, top 55%, 1,118 students, 38% FRL).
• Market conditions: 280 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• 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 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?
• 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.