404 Oakmont Valley Trl

Seneca, SC 29678

$215,000D

3 bd · 2.5 ba · 1,460 sqft · Built 2022 · Townhouse · Active · 127 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,825/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$216
• HOA: −$150
• Vac / Maint / Mgmt: −$383
• Net cashflow: $-52/mo
• Annual: $-623/yr
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• 1% rule: 0.85%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $215k.
• At list price, monthly cash flow is $-52 ($-623/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (15.1% below list).
• It's been on market 127 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (15.1% below list) — sets the bar for 1% rule.
• 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 73/100 on livability (#40 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ravenel Elementary (math 42% / reading 47%, grade F, #226 of 597 statewide, top 40%, 502 students, 83% FRL); Seneca Middle (math 36% / reading 40%, grade F, #86 of 229 statewide, top 39%, 781 students, 77% FRL); Seneca High (math 62% / reading 87%, grade B+, #38 of 196 statewide, top 20%, 1,052 students, 67% FRL) — zoned schools average 76% FRL vs 50% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.7%/yr); 370 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 648 units permitted in Oconee County in 2024 (40 in 5+ unit buildings).
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• 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 6.0% vs local median 2.7% in Seneca — 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 42% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 127 days. Have you received any prior offers? Is the seller open to a 15% 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?