105 Lowland Dr

Anderson, SC 29621

$187,990D-

3 bd · 2.5 ba · 1,305 sqft · Built 2025 · Townhouse · Pending · 159 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,728/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$313
• HOA: −$125
• Vac / Maint / Mgmt: −$363
• Net cashflow: $-59/mo
• Annual: $-704/yr
• Cap rate: 5.92%
• Cash-on-cash: -1.34%
• DSCR: 0.94
• 1% rule: 0.92%
• Cash to close: $52,637

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $188k.
• At list price, monthly cash flow is $-59 ($-704/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (8.1% below list).
• It's been on market 159 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (12.0% 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 67/100 on livability (#98 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime F, commute F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nevitt Forest Elementary (math 26% / reading 23%, grade F, #452 of 597 statewide, top 78%, 577 students, 100% FRL); Glenview Middle (math 38% / reading 45%, grade F, #68 of 229 statewide, top 31%, 733 students, 69% FRL); T. L. Hanna High (math 63% / reading 91%, grade A-, #28 of 196 statewide, top 16%, 1,910 students, 53% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.5%/yr); 685 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Cap rate 5.9% vs local median 3.2% in Anderson — 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 159 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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?
• 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?
• 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?