904 Waverly Ave · Florence, SC 29501

$89,500

3 bd · 1.0 ba · 928 sqft · SingleFamily public records · 309 Days on market

Built 1947 9,148 sqft lot Est $137k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great Starter Home or Investment Property - Interior Recently Refreshed - Unit Less Than 5YO - Termite Bond - Large Yard - Close to Everything in Downtown Florence

Key facts

• Spacious yard
• Near schools
• Near shopping

Tags

• SPACIOUS YARD
• OUTDOOR LIVING
• CONVENIENTLY LOCATED
• NEAR SCHOOLS
• NEAR SHOPPING
• NEAR DOWNTOWN

Property features AI

Finance

• Other: Lot about 0.21 acres; Located in the CITY subdivision

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Approximately 928 above-grade finished area
• Construction: Vinyl siding; Built on crawl space
• Exterior features: Front porch; Shingle roof

Interior

• Kitchen: Range
• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Ceiling fan cooling
• Interior features: Range; Wood flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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: Briggs Elementary (math 37% / reading 48%, grade F, #252 of 597 statewide, top 43%, 434 students, 73% FRL); Williams Middle (math 23% / reading 46%, grade F, #107 of 229 statewide, top 47%, 836 students, 100% FRL); Wilson High (math 52% / reading 75%, grade B-, #95 of 196 statewide, top 49%, 1,365 students, 100% FRL) — zoned schools average 91% FRL vs 57% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 309 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $26k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $90k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 309 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 1947 — 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: 1.60% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.46%
• DSCR: 2.22
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $137,344
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 N Schofield St	0.55mi	3/1.0	1,000 (+8%)	8mo	$165,000	$165	54
1306 W Palmetto St	0.56mi	2/1.0 (-1)	979 (+6%)	7mo	$168,000	$172	54
506 Sanborn St	0.66mi	3/2.0	950 (+2%)	13mo	$115,000	$121	50
805 W Cedar St	0.66mi	2/1.0 (-1)	927 (-0%)	18mo	$159,000	$172	50
424 Manor Cir	0.68mi	2/1.0 (-1)	870 (-6%)	4mo	$128,900	$148	49
913 Chestnut St	0.55mi	2/1.0 (-1)	1,003 (+8%)	16mo	$105,000	$105	42
921 Ingram St	0.68mi	2/1.0 (-1)	945 (+2%)	23mo	$50,000	$53	41
911 Chestnut St	0.55mi	2/2.0 (-1)	840 (-10%)	15mo	$75,000	$89	37
517 N Mcqueen St	0.75mi	2/1.0 (-1)	832 (-10%)	22mo	$85,000	$102	25
423 Park Ave	0.59mi	2/2.0 (-1)	1,050 (+13%)	24mo	$170,500	$162	22

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: 23.3%
• Equity multiple: 1.98×
• Total profit: $24,498
• Equity at exit: $13,345

10-year hold

• IRR: 32.2%
• Equity multiple: 4.15×
• Total profit: $78,904
• Equity at exit: $7,738

Cash invested: $25,060 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,435 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$54 /mo · $643/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $573

Break-even live

Break-even rent $709

Max offer price $89,500

Occupancy floor 55%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $89,500 Active 309 DOM
2. 2026-06-18
   days on market $89,500 Active 308 DOM
3. 2026-06-17
   days on market $89,500 Active 307 DOM
4. 2026-06-16
   days on market $89,500 Active 306 DOM
5. 2026-06-15
   days on market $89,500 Active 305 DOM
6. 2026-06-14
   days on market $89,500 Active 303 DOM
7. 2026-06-13
   days on market $89,500 Active 302 DOM
8. 2026-06-10
   days on market $89,500 Active 300 DOM
9. 2026-06-09
   days on market $89,500 Active 299 DOM
10. 2026-06-08
    days on market $89,500 Active 298 DOM
11. 2026-06-07
    pricedays on market $89,500 Active 297 DOM
12. 2026-06-05
    days on market $94,000 Active 294 DOM
13. 2026-06-02
    days on market $94,000 Active 292 DOM
14. 2026-06-01
    days on market $94,000 Active 291 DOM
15. 2026-05-31
    days on market $94,000 Active 290 DOM
16. 2026-05-30
    days on market $94,000 Active 289 DOM
17. 2026-02-11
    price $94,000
18. 2025-11-14
    status Active
19. 2025-09-22
    historical Active Under Contract
20. 2025-09-04
    price $99,000
21. 2025-08-14
    listed $115,000 Active
22. 2019-06-13
    soldstatus $53,500
23. 2015-09-03
    soldstatus $28,000
24. 2015-09-01
    soldstatus 163-char remark

    Show marketing remark (163 chars)

    Great Starter Home or Investment Property - Interior Recently Refreshed - Unit Less Than 5YO - Termite Bond - Large Yard - Close to Everything in Downtown Florence

25. 2015-06-09
    listed $37,500 163-char remark

    Show marketing remark (163 chars)

    Great Starter Home or Investment Property - Interior Recently Refreshed - Unit Less Than 5YO - Termite Bond - Large Yard - Close to Everything in Downtown Florence

26. 1998-10-31
    soldstatus $24,000

ⓘ 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: $643 · $54/mo
• Projected year-2 tax: $643 · $54/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $17,220
• − Mortgage interest: −$5,013
• − Property taxes: −$643
• − Insurance: −$448
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$2,604
• Taxable income: $5,757
• Est. tax owed @ 24.0%: −$1,382
• After-tax cash flow: $5,499/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

+291.7% since first listed

10 events — show timeline

• 2026-02-11 Price Changed $94,000 RAGPD
• 2025-11-14 Relisted — RAGPD
• 2025-09-22 Contingent — RAGPD
• 2025-09-04 Price Changed $99,000 RAGPD
• 2025-08-14 Listed $115,000 RAGPD
• 2019-06-13 Sold (Public Records) $53,500 Public Records
• 2015-09-03 Sold (Public Records) $28,000 Public Records
• 2015-09-01 Sold (MLS) — RAGPD
• 2015-06-09 Listed $37,500 RAGPD
• 1998-10-31 Sold (Public Records) $24,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $643 · +6.2% YoY. Source: county tax records.