626 Farcroft Trl Lot 127

Roebuck, SC 29376

$230,400D

3 bd · 2.5 ba · 1,692 sqft · Built 2026 · Townhouse · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,986/mo
• Mortgage (P&I): −$1,208
• Tax + insurance: −$384
• HOA: −$0
• Vac / Maint / Mgmt: −$417
• Net cashflow: $-24/mo
• Annual: $-283/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $64,512

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $230k. Condition is rated good.
• At list price, monthly cash flow is $-24 ($-283/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (13.8% below list).
• It's been on market 92 days — a 9% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (13.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#147 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Spartanburg 06 (suburban): math 33% / reading 42% proficiency, ranked #35 of 80 in SC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roebuck Elementary (math 40% / reading 37%, grade F, #306 of 597 statewide, top 51%, 800 students, 84% FRL) — zoned schools average 84% FRL vs 48% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• Spartanburg County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 4.7% in Roebuck — 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

• 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?
• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.