701 Chase St · Florence, SC 29501

$55,000

2 bd · 1.0 ba · 876 sqft · SingleFamily public records · 148 Days on market

Built 1940 10,019 sqft lot Est $52k · 6% over ↓ 38% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.6/15.0
• Rent growth +3.7/5.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors!! 2BD 1 BA, Home situated on a corner lot that is . 21 acre parcel. Home is being sold As-is, great investment property that would be a good addition to your portfolio. Located just minutes from the heart of downtown Florence. Call the office today to schedule a showing 843-667-1100

Key facts

• Convenient location
• Corner lot
• 0.23 acre lot

Tags

• CORNER LOT
• CONVENIENT LOCATION
• EASY ACCESS TO MAJOR ROUTES

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Corner lot
• Construction: Wood siding exterior; Shingle roof; Built area above grade: 876
• Exterior features: Front porch

Interior

• Bathrooms: 1 full bathroom
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 3.5% in Florence — 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.

Location & tenants

• Location reads 62/100 on livability (#196 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, crime F, amenities F.
• Florence 01 (urban): math 29% / reading 47% proficiency, ranked #34 of 80 in SC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lucy T. Davis Elementary (math 40% / reading 47%, grade F, #246 of 597 statewide, top 42%, 564 students, 66% FRL); John W. Moore Middle (math 32% / reading 49%, grade F, #75 of 229 statewide, top 33%, 1,044 students, 73% FRL); West Florence High (math 57% / reading 88%, grade B+, #46 of 196 statewide, top 24%, 1,807 students, 65% FRL).
• Zoned-school proficiency averages 52% at this address vs 38% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Florence 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 328 active listings in the ZIP; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 2.27% ✓
• Cap rate: 19.34%
• Cash-on-cash: 46.59%
• DSCR: 3.07
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $51,684
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 N Mcqueen St	0.23mi	2/1.0	832 (-5%)	22mo	$85,000	$102	63
506 Sanborn St	0.20mi	3/2.0 (+1)	950 (+8%)	13mo	$115,000	$121	57
715 N Mcqueen St	0.23mi	3/1.0 (+1)	996 (+14%)	6mo	$54,000	$54	56
311 W Sumter St	0.32mi	3/1.0 (+1)	829 (-5%)	24mo	$48,750	$59	51
921 Ingram St	0.38mi	2/1.0	945 (+8%)	23mo	$50,000	$53	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.7% rent growth · sell at horizon

5-year hold

• IRR: 45.8%
• Equity multiple: 3.04×
• Total profit: $31,367
• Equity at exit: $8,201

10-year hold

• IRR: 52.4%
• Equity multiple: 6.56×
• Total profit: $85,675
• Equity at exit: $4,755

Cash invested: $15,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29501

• Rents YoY: 4.7%
• Active inventory: 328
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,248 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$77 /mo · $923/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $598

Break-even live

Break-even rent $491

Max offer price $55,000

Occupancy floor 47%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $55,000 Active 148 DOM
2. 2026-06-18
   days on market $55,000 Active 147 DOM
3. 2026-06-17
   days on market $55,000 Active 146 DOM
4. 2026-06-16
   days on market $55,000 Active 145 DOM
5. 2026-06-15
   days on market $55,000 Active 144 DOM
6. 2026-06-14
   days on market $55,000 Active 142 DOM
7. 2026-06-13
   days on market $55,000 Active 141 DOM
8. 2026-06-10
   days on market $55,000 Active 139 DOM
9. 2026-06-09
   days on market $55,000 Active 138 DOM
10. 2026-06-08
    days on market $55,000 Active 137 DOM
11. 2026-06-07
    days on market $55,000 Active 136 DOM
12. 2026-06-05
    days on market $55,000 Active 133 DOM
13. 2026-06-02
    days on market $55,000 Active 131 DOM
14. 2026-06-01
    days on market $55,000 Active 130 DOM
15. 2026-05-31
    days on market $55,000 Active 129 DOM
16. 2026-05-30
    days on market $55,000 Active 128 DOM
17. 2026-01-22
    listed $55,000 Active
18. 2023-10-16
    soldstatus 305-char remark

    Show marketing remark (305 chars)

    Calling all investors!! 2BD 1 BA, Home situated on a corner lot that is . 21 acre parcel. Home is being sold As-is, great investment property that would be a good addition to your portfolio. Located just minutes from the heart of downtown Florence. Call the office today to schedule a showing 843-667-1100

19. 2022-12-22
    listed $45,000 305-char remark

    Show marketing remark (305 chars)

    Calling all investors!! 2BD 1 BA, Home situated on a corner lot that is . 21 acre parcel. Home is being sold As-is, great investment property that would be a good addition to your portfolio. Located just minutes from the heart of downtown Florence. Call the office today to schedule a showing 843-667-1100

20. 2022-05-03
    listed $88,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $923 · $77/mo
• Projected year-2 tax: $923 · $77/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,981
• − Mortgage interest: −$3,081
• − Property taxes: −$923
• − Insurance: −$275
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$1,600
• Taxable income: $6,705
• Est. tax owed @ 24.0%: −$1,609
• After-tax cash flow: $5,566/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Florence 01
• NCES district ID: 4502130
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $45,782
• Composite: 32.36/100
• National rank: #5737
• State rank: #34 of 80 in SC

Livability — Florence

• Score: 62/100
• State rank: #196
• US rank: #17076

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, SC
• County: Florence County · 93,345 people
• City population: 93,345
• Metro: Florence, SC
• Population (ZIP): 48,673
• Household income: $71,671
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1792.0

Population outlook (Florence County) Hauer SSP2

• Today (2025): 141,714 people
• By 2030: 142,121 · +0.3%
• By 2040: 141,344 · -0.3%
• By 2050: 139,478 · -1.6%
• By 2075: 132,275 · -6.7%
• By 2100: 118,374 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 56% Black 35% Asian 3% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Florence

• 2024 margin: Lean R (+8.0) · D 45.3% · R 53.3% · Other 1.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -3.2pp · 2024: -8.0pp
• All cycles: 2024: R+8.0 2020: R+2.3 2016: R+5.0 2012: R+0.5 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.85%
• Current HPI: 171.4154
• Rent YoY: ▲ 4.70%
• Metro: Florence, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-37.5% since first listed

4 events — show timeline

• 2026-01-22 Listed $55,000 RAGPD
• 2023-10-16 Sold (MLS) — RAGPD
• 2022-12-22 Listed $45,000 RAGPD
• 2022-05-03 Listed $88,000 RAGPD

Property tax history

+9.7%/yr

Latest (2025): $923 · +6.4% YoY. Source: county tax records.