1649 Cedarview Ct

Rock Hill, SC 29732

$147,900D-

2 bd · 1.0 ba · 838 sqft · Built 1984 · Condo · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,374/mo
• Mortgage (P&I): −$776
• Tax + insurance: −$162
• HOA: −$175
• Vac / Maint / Mgmt: −$289
• Net cashflow: $-28/mo
• Annual: $-330/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• 1% rule: 0.93%
• Cash to close: $41,412

Investor read

• This is a 2-bed/1.0-bath condo listed at $148k.
• At list price, monthly cash flow is $-28 ($-330/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (7.1% below list).
• It's been on market 45 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (7.1% 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 $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#62 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, crime D-.
• York 03 (urban): math 36% / reading 47% proficiency, ranked #32 of 80 in SC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.2%/yr); 370 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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: major wind risk, 27% 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 6.1% vs local median 3.4% in Rock Hill — 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

• 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?
• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 7% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 D 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?