447 Yellow Belle Dr

Pageland, SC 29728

$204,990C

3 bd · 2.5 ba · 1,442 sqft · Built 2026 · Townhouse · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,999/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$342
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $163/mo
• Annual: $1,951/yr
• Cap rate: 7.24%
• Cash-on-cash: 3.40%
• DSCR: 1.15
• 1% rule: 0.98%
• Cash to close: $57,397

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $205k. Condition is rated good.
• At list price, monthly cash flow is $163 ($2k/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 $200k (2.5% below list).
• It's been on market 15 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (2.5% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 52/100 on livability (#352 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Chesterfield 01 (rural): math 25% / reading 36% proficiency, ranked #55 of 80 in SC (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pageland Elementary (math 21% / reading 19%, grade F, #492 of 597 statewide, top 83%, 324 students, 100% FRL); Central High (math 27% / reading 72%, grade D, #151 of 196 statewide, top 79%, 644 students, 100% FRL) — zoned schools average 100% FRL vs 63% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 118 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 145 units permitted in Chesterfield County in 2024 (10 in 5+ unit buildings).
• Chesterfield County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.2% vs local median 4.0% in Pageland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• 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?
• 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?
• 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.