240 Pine Hills Rd

Prosperity, SC 29127

$189,000C+

4 bd · 2.0 ba · 1,325 sqft · Built 1972 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,304/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$257
• HOA: −$0
• Vac / Maint / Mgmt: −$484
• Net cashflow: $572/mo
• Annual: $6,870/yr
• Cap rate: 9.93%
• Cash-on-cash: 12.98%
• DSCR: 1.58
• 1% rule: 1.22%
• Cash to close: $52,920

Investor read

• This is a 4-bed/2.0-bath single-family listed at $189k.
• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• It's been on market 21 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (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 $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#48 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: employment D+, amenities F, commute F.
• Newberry 01 (rural): math 32% / reading 40% proficiency, ranked #40 of 80 in SC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Little Mountain Elementary (math 52% / reading 52%, grade C-, #145 of 597 statewide, top 26%, 396 students, 100% FRL); Mid-Carolina High (math 67% / reading 89%, grade A-, #27 of 196 statewide, top 13%, 723 students, 60% FRL) — zoned schools average 80% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 65% at this address vs 36% district-wide (+29 pts) — the actual schools serving this property are materially stronger than the Newberry 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 152 active listings in the ZIP; 155 units permitted in Newberry County in 2024 (0 in 5+ unit buildings).
• Newberry County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 44% 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

• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.