20829 Highway 76

Laurens, SC 29360-7660

$150,000D

1 bd · 1.0 ba · 1,353 sqft · Built — · Other · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $-3/mo
• Annual: $-31/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• 1% rule: 0.80%
• Cash to close: $42,000

Investor read

• This is a 1-bed/1.0-bath other listed at $150k.
• At list price, monthly cash flow is $-3 ($-31/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (19.7% below list).
• It's been on market 50 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (19.7% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 68/100 on livability (#79 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, employment D, crime F.
• Laurens 55 (rural): math 20% / reading 29% proficiency, ranked #63 of 80 in SC (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ford Elementary (math 12% / reading 17%, grade F, #553 of 597 statewide, top 95%, 416 students, 100% FRL); Sanders Middle (math 12% / reading 22%, grade F, #191 of 229 statewide, top 85%, 331 students, 100% FRL); Laurens District 55 High (math 32% / reading 61%, grade D-, #162 of 196 statewide, top 83%, 1,554 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 621 units permitted in Laurens County in 2024 (0 in 5+ unit buildings).
• Laurens County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.6% in Laurens — 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

• 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 50 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• 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.