2885 Old Ridge Rd

Chesterfield, SC 29709

$167,500D

4 bd · 1.0 ba · 1,296 sqft · Built 1945 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,142/mo
• Mortgage (P&I): −$878
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$240
• Net cashflow: $-84/mo
• Annual: $-1,008/yr
• Cap rate: 5.69%
• Cash-on-cash: -2.15%
• DSCR: 0.90
• 1% rule: 0.68%
• Cash to close: $46,900

Investor read

• This is a 4-bed/1.0-bath single-family listed at $168k.
• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (31.8% below list).
• It's been on market 20 days — a 2% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (31.8% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#118 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime F, amenities F, commute F.
• Chesterfield 01 (rural): math 25% / reading 36% proficiency, ranked #55 of 80 in SC (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Edwards Elementary (math 40% / reading 42%, grade F, #276 of 597 statewide, top 48%, 539 students, 100% FRL); Chesterfield-Ruby Middle (math 28% / reading 34%, grade F, #128 of 229 statewide, top 58%, 414 students, 100% FRL); Chesterfield High (math 37% / reading 87%, grade B-, #99 of 196 statewide, top 53%, 516 students, 100% FRL) — zoned schools average 100% FRL vs 63% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 45% at this address vs 30% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Chesterfield 01 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 145 units permitted in Chesterfield County in 2024 (10 in 5+ unit buildings).
• Chesterfield County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 61% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1945 — 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.
• 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.
• 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.