39 Tip Top Dr

Greeleyville, SC 29056

$135,000D-

3 bd · 2.0 ba · 1,235 sqft · Built 1992 · SingleFamily · Active · 145 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,057/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $-98/mo
• Annual: $-1,179/yr
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (21.7% below list).
• It's been on market 145 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (21.7% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($933 loan paydown + $8k appreciation (5.7% local appreciation)).
• Location reads 64/100 on livability (#149 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Williamsburg 01 (rural): math 13% / reading 26% proficiency, ranked #74 of 80 in SC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Greeleyville Primary (math 8% / reading 22%, grade F, #549 of 597 statewide, top 92%, 140 students, 100% FRL); C. E. Murray Middle (math 2% / reading 22%, grade F, #216 of 229 statewide, top 96%, 131 students, 98% FRL); Kingstree High (720 students, 100% FRL).
• Market conditions: 13 active listings in the ZIP; 35 units permitted in Williamsburg County in 2024 (0 in 5+ unit buildings).
• Williamsburg County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; 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

• 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 145 days. Have you received any prior offers? Is the seller open to a 22% 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.
• Crime grade is F 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?
• 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.