4850 Chappells Hwy · Saluda, SC 29138

$94,000

3 bd · 2.0 ba · 1,701 sqft · Other public records · 5 Days on market

Built 1960 1.10 ac lot

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +6.9/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

FIXER UPPER in a nice country setting on 1.1 acres. Well and septic, central HVAC and is working. Appliances to remain. NOTE: a dog has been left unattended in the house and there is some significant sheetrock, floor, trim damage. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 1.1 acre lot
• Built 1960
• Listed 5 days

Property features AI

Exterior

• Utilities: Well water; Septic sewer
• Home design: Single-story house; Faces west
• Construction: Crawlspace foundation
• Exterior features: Deck; Shed; Vinyl exterior

Interior

• Kitchen: Formica countertops; Laminate flooring; Painted cabinets; Free-standing smooth-surface range (self-cleaning); Built-in microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level with private bath, walk-in closet, tub/shower, ceiling fan, and vinyl flooring; Second bedroom on main level with shared bath, tub/shower, private closet, and laminate flooring; Third bedroom on main level with shared bath, tub/shower, ceiling fan, private closet, and laminate flooring
• Flooring: Hardwood floors in living room; Laminate flooring in bedrooms and dining area; Vinyl flooring in master bedroom; Laminate flooring in kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Central cooling; Central electric heating
• Interior features: Attic access; Wood-burning fireplace (1)
• Laundry & utility: Main-level laundry area (electric hookup) in unheated space; Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $94k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).

Location & tenants

• Location reads 65/100 on livability (#134 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Saluda 01 (rural): math 38% / reading 37% proficiency, ranked #37 of 80 in SC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Saluda High (math 32% / reading 62%, grade D-, #158 of 196 statewide, top 82%, 652 students, 80% FRL).
• Market conditions: 36 active listings in the ZIP; 52 units permitted in Saluda County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($650 loan paydown + $4k appreciation (4.3% local appreciation)).
• At projected returns (4.3% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 43% 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 $94,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.38×
• Total profit: $36,363
• Equity at exit: $49,329

10-year hold

• IRR: 22.6%
• Equity multiple: 4.64×
• Total profit: $95,887
• Equity at exit: $82,043

Cash invested: $26,320 (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 29138

• Home prices YoY: 2.3%
• Active inventory: 36
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,119 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $289

Break-even live

Break-even rent $753

Max offer price $94,000

Occupancy floor 69%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-04
   status Pending
2. 2026-04-29
   listed $94,000 Active
3. 2013-07-08
   soldstatus $87,500
4. 1999-12-06
   soldstatus $45,000

ⓘ 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: $756 · $63/mo
• Projected year-2 tax: $756 · $63/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 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,432
• − Mortgage interest: −$5,265
• − Property taxes: −$756
• − Insurance: −$470
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$2,735
• Taxable income: $2,057
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $2,976/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: Saluda 01
• NCES district ID: 4503460
• Math proficiency: 38% ▼ -3.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $40,550
• Composite: 31.53/100
• National rank: #5963
• State rank: #37 of 80 in SC

Livability — Saluda

• Score: 65/100
• State rank: #134
• US rank: #13062

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,641

Population outlook (Saluda County) Hauer SSP2

• Today (2025): 20,730 people
• By 2030: 20,822 · +0.4%
• By 2040: 20,759 · +0.1%
• By 2050: 20,369 · -1.7%
• By 2075: 19,208 · -7.3%
• By 2100: 18,173 · -12.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Black 25% Hispanic / Latino 24% Two or more races 18% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 78% English-only · Spanish 21%

Political lean MEDSL · Saluda

• 2024 margin: Solid R (+44.4) · D 27.2% · R 71.6% · Other 1.2%
• 2008→2024 swing: -22.6pp toward R · 2008: -21.7pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+35.0 2016: R+31.7 2012: R+21.1 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.30%
• Current HPI: 193.3146
• Rent YoY: —
• Metro: —
• 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

+108.9% since first listed

4 events — show timeline

• 2026-05-04 Pending — Consolidated MLS
• 2026-04-29 Listed $94,000 Consolidated MLS
• 2013-07-08 Sold (Public Records) $87,500 Public Records
• 1999-12-06 Sold (Public Records) $45,000 Public Records

Property tax history

-6.4%/yr

Latest (2025): $756 · -4.9% YoY. Source: county tax records.