431 Charleston St St N

Blacksburg, SC 29702

$155,900D

3 bd · 1.0 ba · 864 sqft · Built 1940 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,467/mo
• Mortgage (P&I): −$818
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $69/mo
• Annual: $829/yr
• Cap rate: 6.82%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• 1% rule: 0.94%
• Cash to close: $43,652

Investor read

• This is a 3-bed/1.0-bath single-family listed at $156k.
• At list price, monthly cash flow is $69 ($829/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 $147k (5.9% below list).
• It's been on market 15 days — a 2% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $147k (5.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#289 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blacksburg Elementary (math 34% / reading 36%, grade F, #339 of 597 statewide, top 57%, 362 students, 100% FRL); Blacksburg Middle (math 23% / reading 32%, grade F, #147 of 229 statewide, top 66%, 360 students, 72% FRL); Blacksburg High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 553 students, 80% FRL) — zoned schools average 84% FRL vs 64% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 45 active listings in the ZIP; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Current owner paid $93k; list at $156k implies a 68% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.