752 Striped Bass Ct

Santee, SC 29142

$269,900D

3 bd · 2.5 ba · 1,517 sqft · Built 2024 · SingleFamily · Pending · 261 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,081/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$450
• HOA: −$43
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-264/mo
• Annual: $-3,172/yr
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• 1% rule: 0.77%
• Cash to close: $75,572

Investor read

• This is a 3-bed/2.5-bath single-family listed at $270k.
• At list price, monthly cash flow is $-264 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (22.9% below list).
• It's been on market 261 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (22.9% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($2k loan paydown + $9k 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.
• 3 sale attempts; this cycle's ask has dropped $18k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 4, paydown + projected appreciation supports a ~$38k 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 261 days. Have you received any prior offers? Is the seller open to a 23% 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?