1172 Wisteria

Wilkinson Heights, SC 29115

$69,000B

3 bd · 2.0 ba · 1,190 sqft · Built 1963 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,326/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $497/mo
• Annual: $5,963/yr
• Cap rate: 14.93%
• Cash-on-cash: 30.86%
• DSCR: 2.37
• 1% rule: 1.92%
• Cash to close: $19,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $69k.
• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#319 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment F.
• Zoned schools: Whittaker Elementary (math 24%, 415 students, 100% FRL); Robert E. Howard Middle (math 10%, 396 students, 100% FRL); Orangeburg Wilkinson High (math 22%, 1,073 students, 100% FRL).
• Watch-outs: property tax is 2.8% of price.
• Market conditions: 226 active listings in the ZIP; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $121k (64%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1963 — 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.
• 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.