703 Savage St

Camden, SC 29020

$208,000D

3 bd · 1.0 ba · 1,207 sqft · Built 1966 · SingleFamily · Pending · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,656/mo
• Mortgage (P&I): −$1,091
• Tax + insurance: −$138
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $80/mo
• Annual: $955/yr
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• 1% rule: 0.80%
• Cash to close: $58,240

Investor read

• This is a 3-bed/1.0-bath single-family listed at $208k.
• At list price, monthly cash flow is $80 ($955/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (20.4% below list).
• It's been on market 111 days — a 9% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (20.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#218 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Kershaw 01 (rural): math 38% / reading 51% proficiency, ranked #25 of 80 in SC (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Camden Elementary (math 41% / reading 46%, grade F, #246 of 597 statewide, top 42%, 627 students, 65% FRL); Camden Middle (math 30% / reading 43%, grade F, #98 of 229 statewide, top 43%, 828 students, 100% FRL); Camden High (math 37% / reading 77%, grade C, #120 of 196 statewide, top 64%, 1,124 students, 71% FRL) — zoned schools average 78% FRL vs 49% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 239 active listings in the ZIP; 491 units permitted in Kershaw County in 2024 (0 in 5+ unit buildings).
• Kershaw County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 65% 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 6.8% vs local median 3.8% in Camden — 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 111 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1966 — 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 D-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?
• 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.