311 Bim St

Holly Hill, SC 29059

$210,000D-

2 bd · 1.5 ba · 1,647 sqft · Built 1971 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,197/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$234
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $-390/mo
• Annual: $-4,675/yr
• Cap rate: 4.07%
• Cash-on-cash: -7.95%
• DSCR: 0.65
• 1% rule: 0.57%
• Cash to close: $58,800

Investor read

• This is a 2-bed/1.5-bath single-family listed at $210k.
• At list price, monthly cash flow is $-390 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (32.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (43.0% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $120k (43.0% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($1k loan paydown + $12k appreciation (5.8% local appreciation)).
• Location reads 57/100 on livability (#282 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime F, amenities F, commute F.
• Zoned schools: Holly Hill Elementary (math 30%, 326 students, 100% FRL); Holly Hill-Roberts Middle (math 15%, 418 students, 100% FRL).
• Market conditions: 92 active listings in the ZIP; 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 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.
• Current owner paid $50k; list at $210k implies a 320% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% vs local median 2.0% in Holly Hill — 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?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.