238 Deskin Ln

Fountain Inn, SC 29644

$262,950D

3 bd · 2.0 ba · 1,183 sqft · Built 2026 · SingleFamily · Active · 176 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,902/mo
• Mortgage (P&I): −$1,379
• Tax + insurance: −$438
• HOA: −$0
• Vac / Maint / Mgmt: −$399
• Net cashflow: $-315/mo
• Annual: $-3,775/yr
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• 1% rule: 0.72%
• Cash to close: $73,626

Investor read

• This is a 3-bed/2.0-bath single-family listed at $263k. Condition is rated good.
• At list price, monthly cash flow is $-315 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (27.7% below list).
• It's been on market 176 days — a 12% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (27.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#4 in SC, #1,162 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fountain Inn Elementary (math 48% / reading 47%, grade D, #199 of 597 statewide, top 35%, 835 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 791 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 621 units permitted in Laurens County in 2024 (0 in 5+ unit buildings).
• Laurens County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $29k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• This rent runs 32% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 176 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?