1211 Metze Rd Unit H4

St. Andrews, SC 29210

$50,000B-

1 bd · 1.0 ba · 646 sqft · Built 1985 · Condo · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $936/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$107
• HOA: −$191
• Vac / Maint / Mgmt: −$196
• Net cashflow: $179/mo
• Annual: $2,143/yr
• Cap rate: 10.58%
• Cash-on-cash: 15.31%
• DSCR: 1.68
• 1% rule: 1.87%
• Cash to close: $14,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $50k.
• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $50k).
• It's been on market 51 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Richland 01 (urban): math 26% / reading 36% proficiency, ranked #54 of 80 in SC (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pine Grove Elementary (math 24% / reading 15%, grade F, #496 of 597 statewide, top 83%, 541 students, 100% FRL); Columbia High (math 17% / reading 67%, grade F, #174 of 196 statewide, top 90%, 665 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 20% of rent.
• Market conditions: Rents rising fast (+5.0%/yr); 146 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $15k; list at $50k implies a 233% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $14k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.