6905 Cleaton Rd Unit H144

Forest Acres, SC 29206

$163,000D

3 bd · 3.5 ba · 1,730 sqft · Built 1974 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,665/mo
• Mortgage (P&I): −$855
• Tax + insurance: −$272
• HOA: −$192
• Vac / Maint / Mgmt: −$350
• Net cashflow: $-3/mo
• Annual: $-41/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• 1% rule: 1.02%
• Cash to close: $45,640

Investor read

• This is a 3-bed/3.5-bath single-family listed at $163k.
• At list price, monthly cash flow is $-3 ($-41/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (0.3% below list).
• Meets the 1% rule at list price ($2k rent vs $163k).
• It's been on market 23 days — a 2% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#39 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: crime D, amenities F, commute F.
• Richland 02 (suburban): math 35% / reading 47% proficiency, ranked #29 of 80 in SC (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jackson Creek Elementary (math 26% / reading 24%, grade F, #447 of 597 statewide, top 76%, 545 students, 100% FRL); Dent Middle (math 25% / reading 42%, grade F, #113 of 229 statewide, top 50%, 1,018 students, 100% FRL); Richland Northeast High (math 42% / reading 82%, grade B-, #99 of 196 statewide, top 53%, 1,359 students, 70% FRL) — zoned schools average 90% FRL vs 38% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 117 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 5 sale attempts since 2y ago 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.
• Climate carrying-cost: moderate flood risk; major wind risk, 70% 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

• 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?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is D 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.