59 Heartstone Cir

Bluffton, SC 29910

$355,000D

3 bd · 2.0 ba · 1,420 sqft · Built 2005 · SingleFamily · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,665/mo
• Mortgage (P&I): −$1,862
• Tax + insurance: −$281
• HOA: −$0
• Vac / Maint / Mgmt: −$560
• Net cashflow: $-37/mo
• Annual: $-448/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• 1% rule: 0.75%
• Cash to close: $99,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $355k.
• At list price, monthly cash flow is $-37 ($-448/yr) — negative.
• To cash-flow at today's rent, offer at most $348k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (24.9% below list).
• It's been on market 103 days — a 9% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $266k (24.9% 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 $11k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#76 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• Beaufort 01 (town): math 42% / reading 51% proficiency, ranked #17 of 80 in SC (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: River Ridge Academy (math 50% / reading 56%, grade C, #138 of 597 statewide, top 24%, 1,120 students, 21% FRL); Bluffton High (math 69% / reading 85%, grade A-, #28 of 196 statewide, top 16%, 1,350 students, 38% FRL) — zoned schools average 29% FRL vs 48% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 65% at this address vs 46% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Beaufort 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.1%/yr); 760 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 17y 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.2% in Bluffton — 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.
• This rent runs 32% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 103 days. Have you received any prior offers? Is the seller open to a 25% 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.