307 Madison Ave

Kingstree, SC 29556

$30,900B-

2 bd · 1.0 ba · 672 sqft · Built 1968 · Other · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $818/mo
• Mortgage (P&I): −$162
• Tax + insurance: −$70
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $414/mo
• Annual: $4,972/yr
• Cap rate: 22.38%
• Cash-on-cash: 57.47%
• DSCR: 3.56
• 1% rule: 2.65%
• Cash to close: $8,652

Investor read

• This is a 2-bed/1.0-bath other listed at $31k.
• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($818 rent vs $31k).
• It's been on market 86 days — a 6% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $214 of loan paydown is wiped out by about $927 of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#88 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, commute B+; Watch: housing C-, employment D, crime F.
• Williamsburg 01 (rural): math 13% / reading 26% proficiency, ranked #74 of 80 in SC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: W.M. Anderson Primary (433 students, 100% FRL); Kingstree Middle Magnet (math 9% / reading 19%, grade F, #206 of 229 statewide, top 90%, 412 students, 100% FRL); Kingstree High (720 students, 100% FRL).
• Market conditions: 60 active listings in the ZIP; 35 units permitted in Williamsburg County in 2024 (0 in 5+ unit buildings).
• Williamsburg County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 22.4% vs local median 5.5% in Kingstree — 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 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1968 — 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?
• 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.