102 6 Block 58 Andrews N Hazel Ave

Andrews, SC 29510

$155,000C-

3 bd · 2.0 ba · 1,990 sqft · Built 1965 · SingleFamily · Pending · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,254/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$303
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $-125/mo
• Annual: $-1,502/yr
• Cap rate: 5.32%
• Cash-on-cash: -3.46%
• DSCR: 0.85
• 1% rule: 0.81%
• Cash to close: $43,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (19.1% below list).
• It's been on market 81 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (19.1% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#183 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Georgetown 01 (town): math 26% / reading 38% proficiency, ranked #51 of 80 in SC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andrews Elementary (math 21% / reading 19%, grade F, #492 of 597 statewide, top 83%, 684 students, 100% FRL); Rosemary Middle (math 9% / reading 17%, grade F, #210 of 229 statewide, top 93%, 378 students, 100% FRL); Andrews High (math 27% / reading 77%, grade D+, #142 of 196 statewide, top 74%, 519 students, 100% FRL) — zoned schools average 100% FRL vs 59% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; 323 units permitted in Georgetown County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 4y ago; this cycle's ask has dropped $110k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.3% vs local median 3.5% in Andrews — 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 81 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-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?
• 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.