213 Greemount Cir

Capitol View, SC 29209-3159

$220,000D

3 bd · 2.0 ba · 1,354 sqft · Built 2008 · SingleFamily · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,676/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$352
• Net cashflow: $-33/mo
• Annual: $-400/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• 1% rule: 0.76%
• Cash to close: $61,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-33 ($-400/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (23.8% below list).
• It's been on market 61 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (23.8% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Richland 01 (urban): math 26% / reading 36% proficiency, ranked #54 of 80 in SC (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mill Creek Elementary (math 22% / reading 22%, grade F, #475 of 597 statewide, top 81%, 339 students, 100% FRL); Hopkins Middle (math 8% / reading 17%, grade F, #213 of 229 statewide, top 94%, 493 students, 100% FRL); Lower Richland High (math 5% / reading 64%, grade F, #185 of 196 statewide, top 94%, 1,244 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $125k; list at $220k implies a 76% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 61 days. Have you received any prior offers? Is the seller open to a 24% 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.