100 Sterling Silver Dr

Homeland Park, SC 29626

$170,000D-

3 bd · 2.0 ba · 1,216 sqft · Built 2018 · Manufactured · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,341/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $2/mo
• Annual: $30/yr
• Cap rate: 6.31%
• Cash-on-cash: 0.06%
• DSCR: 1.00
• 1% rule: 0.79%
• Cash to close: $47,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $170k.
• At list price, monthly cash flow is $2 ($30/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 $134k (21.1% below list).
• It's been on market 18 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (21.1% 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 $5k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#299 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Homeland Park Primary (427 students, 100% FRL); Robert Anderson Middle (math 27% / reading 27%, grade F, #153 of 229 statewide, top 68%, 1,131 students, 100% FRL); Westside High (math 53% / reading 75%, grade B-, #92 of 196 statewide, top 48%, 1,769 students, 89% FRL) — zoned schools average 96% FRL vs 52% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 119 active listings in the ZIP; 2 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.
• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.8% in Homeland Park — 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

• 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.