526 Hillcrest Dr

North Augusta, SC 29841

$199,900D

3 bd · 2.0 ba · 1,403 sqft · Built 1985 · SingleFamily · Active · 151 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,512/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $23/mo
• Annual: $271/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• 1% rule: 0.76%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $23 ($271/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 $151k (24.4% below list).
• It's been on market 151 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (24.4% 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 $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#56 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hammond Hill Elementary (math 51% / reading 48%, grade D, #168 of 597 statewide, top 31%, 677 students, 26% FRL); North Augusta Middle (math 35% / reading 45%, grade F, #78 of 229 statewide, top 35%, 616 students, 43% FRL); North Augusta High (math 51% / reading 86%, grade B, #68 of 196 statewide, top 35%, 1,719 students, 42% FRL) — zoned schools average 37% FRL vs 54% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 53% at this address vs 38% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Aiken 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.9%/yr); 363 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 30y ago; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $200k implies a 203% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 3.9% in North Augusta — 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 151 days. Have you received any prior offers? Is the seller open to a 24% 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?
• 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.