319 Alice Ave

Parker, SC 29611

$282,000D

4 bd · 2.0 ba · 1,196 sqft · Built 2019 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,174/mo
• Mortgage (P&I): −$1,479
• Tax + insurance: −$270
• HOA: −$0
• Vac / Maint / Mgmt: −$456
• Net cashflow: $-32/mo
• Annual: $-383/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• 1% rule: 0.77%
• Cash to close: $78,960

Investor read

• This is a 4-bed/2.0-bath single-family listed at $282k.
• At list price, monthly cash flow is $-32 ($-383/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (22.9% below list).
• It's been on market 29 days — a 2% lower offer ($278k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $217k (22.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#31 in SC, #4,642 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hollis Academy (math 28% / reading 21%, grade F, #452 of 597 statewide, top 78%, 608 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 49% district-wide (-24 pts) — the specific schools serving this property underperform the Greenville 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 278 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 8y ago 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 $142k; list at $282k implies a 99% gain — meaningful room to come down on a strong offer.
• 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 6.2% vs local median 4.2% in Parker — 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.
• At $2,174/mo this rent would consume 51% of the median local household income ($52k/yr) (locally 1754% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• 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.
• 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.