Lee (SC) Investor Pulse Report (2025-Q4)

Landlords in Lee County, SC, collectively hold 224 SFR properties, representing 9.0% of the county's total SFR market of 2,493 properties. This establishes a notable but not overwhelming investor presence in the local market.

Individual landlords significantly outnumber and out-own company landlords, controlling 174 (77.7%) of the investor-owned SFR properties compared to companies with 51 properties (22.8%). This reinforces the prevalence of smaller, individual investors in the local market.

The vast majority of landlord-owned properties, 221 out of 224, were acquired with cash, indicating a strong preference for un-leveraged assets or a lack of access to traditional financing for rental properties in Lee County, SC. Only 3 properties were financed.

A high concentration of 218 properties are rented, confirming that nearly all landlord-owned SFR are actively used for rental income generation, aligning with the definition of non-owner-occupied investments in Lee County, SC.

With 218 individual landlords owning 174 properties, and 51 company landlords owning 51 properties, individual landlords, on average, own fewer than one property each (0.8 properties), while companies average exactly one property per entity in Lee County, SC. This points to the highly fragmented nature of individual ownership.

Individual landlords (218 entities) represent 4.27 times more entities than company landlords (51 entities), further illustrating that the market is primarily driven by smaller, independent operators in Lee County, SC.

The nearly identical count of rented properties (218) and cash-purchased properties (221) suggests that almost all rental units are cash-financed, minimizing debt-related risks for investors in Lee County, SC.

Landlord acquisition activity in Lee County, SC ceased completely in Q4 2025, with zero SFR properties purchased, mirroring the absence of activity across the entirety of 2024 and year-to-date 2025. This points to a significant slowdown in new investor entries or portfolio expansions.

Despite the current dormancy, data from earlier in 2025 shows landlords appearing to secure substantial discounts. In Q2 2025, landlords paid $65,000, a 64.2% discount compared to homeowners at $181,416, and in Q1 2025, landlords paid $119,000, 36.2% less than homeowners at $186,500.

The notable price differences observed in Q1 and Q2 2025 for landlords must be interpreted with caution, as the overall acquisition data for these periods records zero landlord properties purchased. This suggests the average prices are likely derived from an extremely low transaction volume, potentially just one or two outlier sales, rather than a robust market trend in Lee County, SC.

Beyond Q4 2025, the acquisition data reveals a broader trend of minimal landlord buying, with zero properties acquired for the entirety of Year 2024 and Year 2025. This signals a sustained retreat or disinterest from new landlord investments in Lee County, SC over the past two years.

Even during the active period of 2020-2023, landlord acquisitions were limited, with zero properties recorded, further highlighting that recent price observations are not reflective of consistent market engagement by investors in Lee County, SC.

The SFR purchase market in Lee County, SC experienced complete stagnation in Q4 2025, recording zero total SFR purchases. Consequently, landlords accounted for 0.0% of all purchases, underscoring a paused market rather than a decline in landlord share.

Both total landlord purchases and non-landlord purchases registered zero in Q4 2025, indicating that neither investor nor traditional homeowner segments were acquiring properties during this period in Lee County, SC.

With zero purchases by any tier, there were no new single-property landlords (Tier 01) entering the market, nor any expansion by existing mom-and-pop (Tier 01-04) or institutional (Tier 09) investors during Q4 2025.

The complete absence of purchases means no investor tiers exhibited activity in Q4, contrasting with typical market dynamics where certain tiers might show relative strength in Lee County, SC.

This Q4 data reinforces the trend seen in Section 6, suggesting that the freeze on landlord acquisition activity is not an isolated event but part of a prolonged period of inactivity for investors in Lee County, SC.

Mom-and-pop landlords (1-10 properties, Tiers 01-04) collectively own an overwhelming 98.7% of all investor-owned SFR in Lee County, SC, totaling 227 properties. This demonstrates their foundational role in the local rental market.

The smallest investors, those owning a single property (Tier 01), form the largest segment, holding 214 properties which accounts for 93.0% of the total landlord-owned SFR. This highlights the prevalence of first-time or small-scale investors in the county.

Institutional investors (Tier 09, 1000+ properties) have a negligible footprint in Lee County, SC, owning only 1 property, which represents a mere 0.4% of the landlord-owned SFR market. This challenges perceptions of large corporate dominance in this specific county.

Mid-size landlords (Tiers 05-08) also have a very small presence; for example, the 'small-medium' (11-20 properties) and 'medium-large' (51-100 properties) tiers each contain only 1 property, each representing 0.4% of the market. This implies a significant gap between single-property owners and any substantial multi-property investors in Lee County, SC.

Analysis of how acquisition prices vary by investor tier cannot be performed, as pricing data broken down by tier is not available in the provided information for Lee County, SC. This limits understanding of differing investment strategies or market access by size.

The current ownership distribution signals a highly decentralized and local rental market, primarily managed by individual, small-scale investors who likely reside within or close to the community in Lee County, SC.

Without historical tier distribution data, it is not possible to determine how the current tier distribution has evolved over time or if mom-and-pop dominance is a recent or long-standing trend in Lee County, SC.

Individual investors form the backbone of the smaller landlord tiers in Lee County, SC, holding 168 (78.5%) of the single-property (Tier 01) portfolios and 100.0% of properties in both the two-property (Tier 02) and small landlord (3-5 properties, Tier 03) segments.

The ownership dynamic shifts significantly at the small landlord (6-10 properties, Tier 04) level, where companies become the majority owners, holding 2 properties (66.7%) compared to individuals with 1 property (33.3%). This marks the earliest point where corporate entities gain a stronghold in Lee County, SC.

Despite companies taking a majority in Tier 04, individual investors maintain a notable presence even in larger small landlord tiers, as demonstrated by their 33.3% share in the 6-10 property tier in Lee County, SC.

Analysis of how individual versus company acquisition prices differ within each tier cannot be performed due to the lack of specific pricing data for each owner type and tier in Lee County, SC.

Data for tiers beyond 6-10 properties is not provided, making it impossible to determine the full extent of company versus individual ownership distribution across the entire spectrum of landlord sizes in Lee County, SC.

The crossover at Tier 04 suggests that while individuals might start small, companies in Lee County, SC begin to aggregate more properties once they exceed a certain portfolio size, indicating a more aggressive growth strategy for those entities.

Without historical data on individual versus company ownership by tier, it is impossible to identify differing growth patterns or trends over time for these owner types in Lee County, SC.

In Lee County, SC, zip code 29010 stands out for having the highest volume of investor-owned properties, totaling 134 SFR properties. However, zip code 29046 exhibits the highest investor penetration rate at 56.2%, despite only having 9 investor-owned properties. This highlights distinct types of geographic concentration within the county.

The top five zip codes by landlord-owned property count are 29010 (134 properties), 29080 (43 properties), 29046 (9 properties), 29020 (8 properties), and 29040 (6 properties). These areas represent the primary hubs for investor activity volume in Lee County, SC.

When examining the intensity of investor ownership, zip code 29046 leads significantly with 56.2% of its SFR market owned by landlords. Other highly penetrated areas include 29080 (19.7%), 29009 (16.7%), 29550 (13.0%), and 29069 (9.8%) in Lee County, SC.

While 29046 shows a remarkable 56.2% investor ownership rate, suggesting a highly targeted or specialized sub-market, other zip codes like 29010, despite having the highest raw count, only exhibit a 7.8% investor ownership rate. This indicates varied market dynamics even within the same county.

It is not possible to determine how acquisition prices vary across these distinct geographic regions due to the lack of specific pricing data for each zip code within Lee County, SC. This limits understanding of price-driven regional investment strategies.

Without explicit landlord entity counts per zip code, it is challenging to assess the density of individual landlords versus company landlords across these top regions, further refining the understanding of local market structure in Lee County, SC.

The data suggests that for investors seeking high penetration, zip code 29046 presents a unique market, while 29010 offers the largest inventory of investor-owned properties, indicating different opportunities within Lee County, SC.

Landlords in Lee County, SC transitioned to a net buyer position in 2025, acquiring 3 properties while selling 2, resulting in a buy/sell ratio of 1.5x. This marks a reversal from the previous year's trend, despite minimal overall activity.

In 2024, landlords in Lee County, SC were net sellers, divesting 3 properties against 2 acquisitions, reflecting a buy/sell ratio of 0.67x. This suggests a period of slight portfolio contraction prior to 2025 for local investors.

Despite the shift in net position, the overall transaction volume for landlords remains remarkably low, with a combined total of only 5 transactions (3 buys, 2 sells) in 2025 and 5 transactions (2 buys, 3 sells) in 2024. This highlights a highly illiquid market for investor-owned SFR in Lee County, SC.

There is no available transaction data for institutional investors (1000+ tier), preventing any comparison of their activity patterns with the broader landlord market in Lee County, SC.

The percentage of transactions that occurred between landlords (landlord-to-landlord) is not provided, limiting insight into market churn and the liquidity within the investor community itself in Lee County, SC.

Without average buy and sell prices for these transactions, it is impossible to calculate any implied profit margins or assess the financial outcomes of these limited landlord transactions in Lee County, SC.

The erratic, low-volume activity with shifts between net buyer and net seller status year-over-year suggests that the landlord market in Lee County, SC is highly susceptible to small shifts in individual investor behavior rather than large, sustained trends.

The SFR market in Lee County, SC experienced a complete cessation of transaction activity in Q4 2025, with zero total transactions recorded. Consequently, landlords accounted for 0.0% of all market transactions, highlighting a dormant period for investor activity.

No investor tiers, from single-property (Tier 01) to institutional (Tier 09), recorded any transactions in Q4 2025. This indicates a widespread pause across all investor sizes in Lee County, SC.

Due to the absence of transactions, there is no available data to determine average purchase prices by tier for Q4 2025, thus preventing analysis of price strategies across different investor sizes in Lee County, SC.

With no transactions occurring, there was no inter-landlord trading activity or any insights to be gained regarding the percentage of properties bought from other landlords in Q4 2025 in Lee County, SC.

This data strongly reinforces findings from Sections 6, 7, and 11, indicating that Q4 2025 represents a continuation of a prolonged period of minimal to no investor transaction activity in Lee County, SC.

The complete lack of transactions across all segments raises significant questions about the liquidity of the SFR investor market in Lee County, SC, suggesting that properties are not actively changing hands.

Without any Q4 transaction activity, it is impossible to compare current quarter transaction patterns by tier to the existing ownership distribution to identify if certain tiers are becoming more or less active relative to their market share in Lee County, SC.