609 Perch Ln

Santee, SC 29142

$241,830C-

3 bd · 2.5 ba · 1,360 sqft · Built 2026 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,151/mo
• Mortgage (P&I): −$1,268
• Tax + insurance: −$403
• HOA: −$43
• Vac / Maint / Mgmt: −$452
• Net cashflow: $-15/mo
• Annual: $-175/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• 1% rule: 0.89%
• Cash to close: $67,712

Investor read

• This is a 3-bed/2.5-bath single-family listed at $242k. Condition is rated good.
• At list price, monthly cash flow is $-15 ($-175/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (11.0% below list).
• It's been on market 102 days — a 9% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $215k (11.0% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.5% local appreciation)).
• Location reads 61/100 on livability (#202 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Zoned schools: Elloree Elementary (math 10%, 387 students, 100% FRL).
• Market conditions: 161 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $68k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 102 days. Have you received any prior offers? Is the seller open to a 11% 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?
• 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.