696 Eastland Ave

Kingstree, SC 29556

$55,000B-

3 bd · 1.0 ba · 1,158 sqft · Built 1971 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,018/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $374/mo
• Annual: $4,486/yr
• Cap rate: 14.45%
• Cash-on-cash: 29.13%
• DSCR: 2.30
• 1% rule: 1.85%
• Cash to close: $15,400

Investor read

• This is a 3-bed/1.0-bath other listed at $55k.
• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 67/100 on livability (#88 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, commute B+; Watch: housing C-, employment D, crime F.
• Williamsburg 01 (rural): math 13% / reading 26% proficiency, ranked #74 of 80 in SC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: W.M. Anderson Primary (433 students, 100% FRL); Kingstree Middle Magnet (math 9% / reading 19%, grade F, #206 of 229 statewide, top 90%, 412 students, 100% FRL); Hemingway High (math 44% / reading 64%, grade C-, #130 of 196 statewide, top 69%, 205 students, 100% FRL).
• Zoned-school proficiency averages 34% at this address vs 20% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Williamsburg 01 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 60 active listings in the ZIP; 35 units permitted in Williamsburg County in 2024 (0 in 5+ unit buildings).
• Williamsburg County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% 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.
• Cap rate 14.4% vs local median 5.5% in Kingstree — 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.

Questions for listing agent

• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.