692 Murray Rd

Orangeburg, SC 29115

$75,000B-

1 bd · 0.5 ba · 4,138 sqft · Built 1959 · SingleFamily · Active · 127 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,246/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $466/mo
• Annual: $5,590/yr
• Cap rate: 13.75%
• Cash-on-cash: 26.62%
• DSCR: 2.18
• 1% rule: 1.66%
• Cash to close: $21,000

Investor read

• This is a 1-bed/0.5-bath single-family listed at $75k. Condition is rated poor.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 127 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#324 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety B; Watch: housing C-, crime F, amenities D-.
• Zoned schools: Mellichamp Elementary (math 34%, 204 students, 100% FRL); Robert E. Howard Middle (math 10%, 396 students, 100% FRL); Orangeburg Wilkinson High (math 22%, 1,073 students, 100% FRL).
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 226 active listings in the ZIP; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.7% vs local median 4.2% in Orangeburg — 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

• It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Severe wear
• Major: Kitchen countertops — Worn and damaged
• Major: Exterior siding — Weathered and exposed
• Major: Flooring — Worn and uneven
• Major: Interior walls — Exposed beams and peeling paint
• Major: HVAC system — Exposed ducts and no appliances