1107 Sandalwood

Batesburg-Leesville, SC 29070

$189,900C-

2 bd · 2.0 ba · 980 sqft · Built 1984 · Manufactured · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,609/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$213
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $62/mo
• Annual: $741/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• 1% rule: 0.85%
• Cash to close: $53,172

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $190k.
• At list price, monthly cash flow is $62 ($741/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 $161k (15.3% below list).
• It's been on market 65 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (15.3% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Saluda 01 (rural): math 38% / reading 37% proficiency, ranked #37 of 80 in SC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hollywood Elementary (math 60% / reading 46%, grade C, #138 of 597 statewide, top 24%, 421 students, 100% FRL); Saluda High (math 32% / reading 62%, grade D-, #158 of 196 statewide, top 82%, 652 students, 80% FRL) — zoned schools average 90% FRL vs 67% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 38% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Saluda 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 167 active listings in the ZIP; 52 units permitted in Saluda County in 2024 (0 in 5+ unit buildings).
• Current owner paid $100k; list at $190k implies a 90% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 54% 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.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 15% 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.
• 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.