63 Holly St

Great Falls, SC 29055

$49,000B

2 bd · 1.0 ba · 1,152 sqft · Built 1930 · Other · Active · 224 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,017/mo
• Mortgage (P&I): −$257
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $471/mo
• Annual: $5,654/yr
• Cap rate: 17.83%
• Cash-on-cash: 41.21%
• DSCR: 2.83
• 1% rule: 2.08%
• Cash to close: $13,720

Investor read

• This is a 2-bed/1.0-bath other listed at $49k.
• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• It's been on market 224 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($339 loan paydown + $1k appreciation (2.6% local appreciation)).
• Location reads 59/100 on livability (#244 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment F.
• Chester 01 (rural): math 23% / reading 34% proficiency, ranked #59 of 80 in SC (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Great Falls Elementary (math 32% / reading 32%, grade F, #369 of 597 statewide, top 64%, 348 students, 100% FRL); Great Falls High (math 21% / reading 40%, grade F, #189 of 196 statewide, top 97%, 386 students, 78% FRL) — zoned schools average 89% FRL vs 64% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 49 active listings in the ZIP; 269 units permitted in Chester County in 2024 (0 in 5+ unit buildings).
• Chester County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $20k; list at $49k implies a 145% gain — meaningful room to come down on a strong offer.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 44% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.8% vs local median 2.7% in Great Falls — 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 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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?
• 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.