116 Jamlette Dr

Walhalla, SC 29691

$349,000F

4 bd · 2.0 ba · 1,586 sqft · Built 2002 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,041/mo
• Mortgage (P&I): −$1,830
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$429
• Net cashflow: $-440/mo
• Annual: $-5,283/yr
• Cap rate: 4.78%
• Cash-on-cash: -5.41%
• DSCR: 0.76
• 1% rule: 0.58%
• Cash to close: $97,720

Investor read

• This is a 4-bed/2.0-bath single-family listed at $349k.
• At list price, monthly cash flow is $-440 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (41.5% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $204k (41.5% 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 $10k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#171 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools D-, amenities F, commute F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 648 units permitted in Oconee County in 2024 (40 in 5+ unit buildings).
• 3 sale attempts since 12y 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 $240k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 3.9% in Walhalla — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.