113 Brookside Cir

Belton, SC 29627

$199,500D

3 bd · 1.5 ba · 1,658 sqft · Built — · Other · Pending · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,550/mo
• Mortgage (P&I): −$1,046
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $5/mo
• Annual: $54/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• 1% rule: 0.78%
• Cash to close: $55,860

Investor read

• This is a 3-bed/1.5-bath other listed at $200k.
• At list price, monthly cash flow is $5 ($54/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 $155k (22.3% below list).
• It's been on market 63 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (22.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#32 in SC, #4,723 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: commute F, employment F.
• Anderson 02 (rural): math 46% / reading 52% proficiency, ranked #16 of 80 in SC (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belton Elementary (math 48% / reading 47%, grade D, #199 of 597 statewide, top 35%, 372 students, 86% FRL); Belton Middle (math 37% / reading 46%, grade F, #68 of 229 statewide, top 31%, 495 students, 77% FRL); Belton Honea Path High (math 58% / reading 86%, grade B+, #48 of 196 statewide, top 26%, 1,097 students, 67% FRL) — zoned schools average 76% FRL vs 46% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.7% in Belton — 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

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 22% 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.
• 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.