1773 Hampton Ave

Fairfax, SC 29827

$140,000D

3 bd · 1.0 ba · 1,176 sqft · Built 1955 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,079/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $-16/mo
• Annual: $-190/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• 1% rule: 0.77%
• Cash to close: $39,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-16 ($-190/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (22.9% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $108k (22.9% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($968 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 65/100 on livability (#131 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Allendale 01 (rural): math 14% / reading 25% proficiency, ranked #75 of 80 in SC (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 91% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Allendale-Fairfax Elementary (math 22% / reading 22%, grade F, #475 of 597 statewide, top 81%, 451 students, 100% FRL); Allendale-Fairfax Middle (math 2% / reading 12%, grade F, #228 of 229 statewide, top 100%, 212 students, 100% FRL); Allendale Fairfax High (math 24% / reading 74%, grade D, #151 of 196 statewide, top 79%, 311 students, 100% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 8 units permitted in Allendale County in 2024 (0 in 5+ unit buildings).
• Allendale County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts 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 $55k; list at $140k implies a 155% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.