107 Locust St

Great Falls, SC 29055

$50,000A-

2 bd · None ba · 1,092 sqft · Built — · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $992/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $468/mo
• Annual: $5,621/yr
• Cap rate: 17.54%
• Cash-on-cash: 40.15%
• DSCR: 2.79
• 1% rule: 1.98%
• Cash to close: $14,000

Investor read

• This is a 2-bed/?-bath single-family listed at $50k.
• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $50k).
• It's been on market 40 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($346 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: schools F, amenities F, commute 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.
• 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.
• 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 17.5% 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 40 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.