1263 Old Kemper Rd

Lake View, SC 29563

$121,600B-

3 bd · 2.0 ba · 2,403 sqft · Built 1904 · Other · Active · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,260/mo
• Mortgage (P&I): −$638
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $276/mo
• Annual: $3,316/yr
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• 1% rule: 1.04%
• Cash to close: $34,048

Investor read

• This is a 3-bed/2.0-bath other listed at $122k.
• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• It's been on market 77 days — a 6% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (6.0% below list) — sets the bar for market timing.
• In year one you build about $11k of equity ($841 loan paydown + $10k appreciation (8.0% local appreciation)).
• Location reads 67/100 on livability (#92 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• Dillon 04 (town): math 14% / reading 27% proficiency, ranked #72 of 80 in SC (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lake View Elementary (math 27% / reading 32%, grade F, #399 of 597 statewide, top 69%, 365 students, 100% FRL); Lake View High (math 12% / reading 47%, grade F, #192 of 196 statewide, top 98%, 523 students, 100% FRL) — zoned schools average 100% FRL vs 83% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 41 units permitted in Dillon County in 2024 (0 in 5+ unit buildings).
• Dillon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $63k; list at $122k implies a 93% gain — meaningful room to come down on a strong offer.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1904 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.