162 Wright Road Rd

Ridgeland, SC 29936

$250,000C-

4 bd · 2.0 ba · 1,680 sqft · Built 2025 · Land · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,286/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$417
• HOA: −$0
• Vac / Maint / Mgmt: −$480
• Net cashflow: $78/mo
• Annual: $942/yr
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• 1% rule: 0.91%
• Cash to close: $70,000

Investor read

• This is a 4-bed/2.0-bath land listed at $250k.
• At list price, monthly cash flow is $78 ($942/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 $229k (8.5% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $229k (8.5% below list) — sets the bar for 1% rule.
• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#81 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, crime D-, amenities F.
• Jasper 01 (rural): math 12% / reading 22% proficiency, ranked #77 of 80 in SC (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 359 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,385 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 4y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; severe 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 6.7% vs local median 4.5% in Ridgeland — 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 $2,286/mo this rent would consume 56% of the median local household income ($49k/yr) (locally 395% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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 D 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?
• 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.