The Cade Plan

Burnettown, SC 29829

$281,900C

4 bd · 2.5 ba · 2,046 sqft · Built — · SingleFamily · Active · 378 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,844/mo
• Mortgage (P&I): −$1,502
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$597
• Net cashflow: $267/mo
• Annual: $3,210/yr
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• 1% rule: 0.99%
• Cash to close: $80,203

Investor read

• This is a 4-bed/2.5-bath single-family listed at $282k.
• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $282k).
• It's been on market 378 days — a 12% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (12.0% below list) — sets the bar for market timing.
• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (8.4% local appreciation)).
• Location reads 64/100 on livability (#159 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 299 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.4% vs local median 5.5% in Burnettown — 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.
• This rent runs 41% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 378 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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.