1390 1st Ave

Starr, SC 29684

$134,900D

3 bd · 2.0 ba · 1,728 sqft · Built 1996 · Manufactured · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,218/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $30/mo
• Annual: $360/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• 1% rule: 0.90%
• Cash to close: $37,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $135k.
• At list price, monthly cash flow is $30 ($360/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (9.7% below list).
• It's been on market 16 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (9.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#204 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Anderson 03 (rural): math 44% / reading 49% proficiency, ranked #22 of 80 in SC (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Iva Elementary (math 52% / reading 47%, grade D, #168 of 597 statewide, top 31%, 383 students, 100% FRL); Starr-Iva Middle (math 31% / reading 36%, grade F, #113 of 229 statewide, top 50%, 658 students, 80% FRL); Crescent High (math 47% / reading 82%, grade B-, #89 of 196 statewide, top 46%, 796 students, 70% FRL) — zoned schools average 83% FRL vs 56% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 active listings in the ZIP; 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.
• 2 sale attempts 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.
• Current owner paid $50k; list at $135k implies a 170% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.