328 Cateechee Trl

Cateechee, SC 29630

$20,000D

2 bd · 1.0 ba · 848 sqft · Built 1925 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,148/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$24
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $778/mo
• Annual: $9,341/yr
• Cap rate: 53.00%
• Cash-on-cash: 166.81%
• DSCR: 8.42
• 1% rule: 5.74%
• Cash to close: $5,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Pickens 01 (rural): math 42% / reading 50% proficiency, ranked #21 of 80 in SC (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty Elementary (math 39% / reading 37%, grade F, #308 of 597 statewide, top 52%, 455 students, 100% FRL); Liberty Middle (math 19% / reading 36%, grade F, #147 of 229 statewide, top 66%, 448 students, 84% FRL); Liberty High (math 52% / reading 82%, grade B, #73 of 196 statewide, top 41%, 684 students, 68% FRL) — zoned schools average 84% FRL vs 42% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 155 active listings in the ZIP; 1,440 units permitted in Pickens County in 2024 (245 in 5+ unit buildings).
• Pickens County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: 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

• Built in 1925 — 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.
• 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.