4260 Old State Rd · St. Matthews, SC 29135

$174,900

3 bd · 2.5 ba · 1,800 sqft · SingleFamily · 18 Days on market

Built 1995 5.00 ac lot Est $227k · 23% under

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Why this score? — see what drove the C 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 +15.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.8/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

THIS COZY 3 BR, 2.5 BA COUNTRY STYLE HOME IS COMFORTABLY NESTLED ON 5 ACRES & SECLUDED FROM THE MAIN ACCESS RD. HOME FEATURES NEW LAMINATE FLOORING THROUGHOUT THE MAIN FLOOR, AS WELL AS NEW CARPET IN THE HALLWAY & UPSTAIRS BEDROOMS. THE MAIN FLOOR HAS AN OPEN FLOOR PLAN, WITH THE GREAT ROOM SPORTING EXPOSED BEAMS & A MASONRY FIREPLACE. THIS HOME ALSO FEATURES NEW VINYL WINDOWS, REFINISHED KITCHEN CABINETS, NEW ELECTRICAL PANEL BOX & UPGRADES TO HEAT PUMP, THERMOSTAT, & PLUMBING.

Key facts

• Upper level deck
• Deep front porch
• Rear deck

Tags

• DEEP FRONT PORCH
• UPPER LEVEL DECK
• REAR DECK

Property features AI

Finance

• Other: Paved road access; Approximately 5 acres

Exterior

• Parking: Attached side-entry garage with 1 garage space (main level)
• Utilities: Public water
• Home design: Two-story home
• Construction: Stucco (hard coat) and wood exterior finish; Crawlspace foundation
• Exterior features: Deck; Covered front porch; Uncovered other porch

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Master bedroom on the second floor; Second bedroom on the second floor; Third bedroom on the second floor
• Bathrooms: Two full bathrooms; One half bathroom; Two additional full second-floor baths
• Heating & cooling: Central heating; Central cooling
• Interior features: Exposed beams in the living room; Eat-in kitchen
• Laundry & utility: Laundry in a closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $78 ($932/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 $143k (18.3% below list).
• Recommended offer: $143k (18.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Calhoun 01 (rural): math 22% / reading 37% proficiency, ranked #57 of 80 in SC (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Calhoun County High (math 27% / reading 82%, grade C-, #130 of 196 statewide, top 69%, 423 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 30% district-wide (+25 pts) — the actual schools serving this property are materially stronger than the Calhoun 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; 48 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $124k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,885 (18.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.82% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $226,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
521 Hammond Cross Rd	0.17mi	3/1.5	1,606 (-11%)	12mo	$202,000	$126	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 3.04×
• Total profit: $100,129
• Equity at exit: $157,564

10-year hold

• IRR: 22.5%
• Equity multiple: 6.94×
• Total profit: $290,822
• Equity at exit: $339,792

Cash invested: $48,972 (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 29135

• Home prices YoY: 17.2%
• Active inventory: 39
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$61 /mo · $732/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $78

Break-even live

Break-even rent $1,330

Max offer price $174,900

Occupancy floor 90%

Sensitivity live

Price	-10% $177	-5% $127	+0% $78	+5% $28	+10% $-21
Rent	-10% $-35	-5% $21	+0% $78	+5% $134	+10% $191
Rate	-1.0pp $166	-0.5pp $122	base $78	+0.5pp $32	+1.0pp $-14

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $174,900 Active 18 DOM
2. 2026-06-17
   days on market $174,900 Active 17 DOM
3. 2026-06-16
   days on market $174,900 Active 16 DOM
4. 2026-06-15
   days on market $174,900 Active 15 DOM
5. 2026-06-14
   days on market $174,900 Active 13 DOM
6. 2026-06-13
   days on market $174,900 Active 12 DOM
7. 2026-06-10
   days on market $174,900 Active 10 DOM
8. 2026-06-09
   days on market $174,900 Active 9 DOM
9. 2026-06-08
   days on market $174,900 Active 8 DOM
10. 2026-06-07
    days on market $174,900 Active 7 DOM
11. 2026-06-05
    days on market $174,900 Active 4 DOM
12. 2026-06-03
    days on market $174,900 Active 3 DOM
13. 2026-06-03
    days on market $174,900 Active 2 DOM
14. 2026-06-01
    remarks 283-char remark
15. 2026-06-01
    listed $174,900 Active 1 DOM

ⓘ 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: $732 · $61/mo
• Projected year-2 tax: $997 · $83/mo
• Expected delta: +$265/yr (+$22/mo · 36.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,146
• − Mortgage interest: −$9,797
• − Property taxes: −$732
• − Insurance: −$874
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$5,088
• Taxable loss: −$2,089
• Est. tax savings @ 24.0%: +$501
• After-tax cash flow: $1,434/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: Calhoun 01
• NCES district ID: 4501250
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $40,577
• Composite: 24.83/100
• National rank: #7594
• State rank: #57 of 80 in SC

Livability — St. Matthews

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,940

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 14,194 people
• By 2030: 13,723 · -3.3%
• By 2040: 12,516 · -11.8%
• By 2050: 11,220 · -21.0%
• By 2075: 8,607 · -39.4%
• By 2100: 6,477 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 47% Black 45% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Serbian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.3) · D 42.2% · R 56.5% · Other 1.3%
• 2008→2024 swing: -17.9pp toward R · 2008: 3.6pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+4.8 2016: R+2.9 2012: D+4.3 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 35.59%
• Current HPI: 241.9299
• 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

+105.8% since first listed

5 events — show timeline

• 2026-05-29 Listed $174,900 Consolidated MLS
• 2015-03-12 Sold (Public Records) $123,750 Public Records
• 2015-03-12 Sold (MLS) $123,750 Charleston Trident MLS
• 2010-03-31 Sold (Public Records) $120,000 Public Records
• 1997-10-30 Sold (Public Records) $85,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $732 · +7.0% YoY. Source: county tax records.