322 Geranium St

Graniteville, SC 29829

$264,900C+

4 bd · 3.0 ba · 2,353 sqft · Built 2019 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,411/mo
• Mortgage (P&I): −$1,389
• Tax + insurance: −$183
• HOA: −$47
• Vac / Maint / Mgmt: −$506
• Net cashflow: $286/mo
• Annual: $3,431/yr
• Cap rate: 7.59%
• Cash-on-cash: 4.63%
• DSCR: 1.21
• 1% rule: 0.91%
• Cash to close: $74,172

Investor read

• This is a 4-bed/3.0-bath single-family listed at $265k. Condition is rated good.
• At list price, monthly cash flow is $286 ($3k/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 $241k (9.0% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $241k (9.0% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (8.4% local appreciation)).
• Location reads 59/100 on livability (#240 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment 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: Byrd Elementary (math 28% / reading 36%, grade F, #369 of 597 statewide, top 64%, 657 students, 37% FRL); Leavelle Mccampbell Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 650 students, 55% FRL); Midland Valley High (math 31% / reading 83%, grade C, #120 of 196 statewide, top 64%, 1,477 students, 62% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 299 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $196k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.6% vs local median 6.0% in Graniteville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.