109 Desoto St

Calhoun Falls, SC 29628

$143,000D+

3 bd · 2.0 ba · 1,274 sqft · Built 1991 · Manufactured · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,118/mo
• Mortgage (P&I): −$750
• Tax + insurance: −$119
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $14/mo
• Annual: $172/yr
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• 1% rule: 0.78%
• Cash to close: $40,040

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $143k.
• At list price, monthly cash flow is $14 ($172/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (21.8% below list).
• It's been on market 53 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (21.8% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($989 loan paydown + $14k appreciation (9.5% local appreciation)).
• Location reads 63/100 on livability (#174 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools D-, amenities F.
• Abbeville 60 (rural): math 50% / reading 49% proficiency, ranked #15 of 80 in SC (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 145 units permitted in Abbeville County in 2024 (0 in 5+ unit buildings).
• Abbeville County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.