800 Bay Branch Rd

Lamar, SC 29069

$131,400C

4 bd · 3.0 ba · 2,012 sqft · Built 2014 · Manufactured · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,316/mo
• Mortgage (P&I): −$689
• Tax + insurance: −$219
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $132/mo
• Annual: $1,578/yr
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $36,792

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $131k. Condition is rated good.
• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $131k).
• It's been on market 78 days — a 6% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($908 loan paydown + $4k appreciation (2.7% local appreciation)).
• Location reads 63/100 on livability (#175 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Darlington 01 (town): math 27% / reading 37% proficiency, ranked #52 of 80 in SC (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lamar-Spaulding Elementary (math 23%, 466 students, 100% FRL); Spaulding Middle (math 31% / reading 32%, grade F, #124 of 229 statewide, top 55%, 204 students, 100% FRL); Lamar High (math 54% / reading 87%, grade B+, #54 of 196 statewide, top 28%, 269 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 51% at this address vs 32% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Darlington 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 13 active listings in the ZIP; 195 units permitted in Darlington County in 2024 (0 in 5+ unit buildings).
• Darlington County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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.