630 College St

Central, SC 29630

$349,000D+

4 bd · 3.0 ba · 2,085 sqft · Built 1930 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,944/mo
• Mortgage (P&I): −$1,830
• Tax + insurance: −$370
• HOA: −$0
• Vac / Maint / Mgmt: −$618
• Net cashflow: $125/mo
• Annual: $1,504/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.54%
• DSCR: 1.07
• 1% rule: 0.84%
• Cash to close: $97,720

Investor read

• This is a 4-bed/3.0-bath single-family listed at $349k.
• At list price, monthly cash flow is $125 ($2k/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 $294k (15.6% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $294k (15.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#176 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Pickens 01 (rural): math 42% / reading 50% proficiency, ranked #21 of 80 in SC (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Academy of The Arts (math 37% / reading 42%, grade F, #295 of 597 statewide, top 50%, 443 students, 100% FRL); R. C. Edwards Middle (math 56% / reading 53%, grade B-, #24 of 229 statewide, top 11%, 840 students, 54% FRL); D. W. Daniel High (math 42% / reading 90%, grade B, #81 of 196 statewide, top 42%, 1,201 students, 47% FRL) — zoned schools average 67% FRL vs 42% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 155 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,440 units permitted in Pickens County in 2024 (245 in 5+ unit buildings).
• Pickens County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• 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.
• Cap rate 6.7% vs local median 3.2% in Central — 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.
• At $2,944/mo this rent would consume 64% of the median local household income ($55k/yr) (locally 803% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1930 — 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.
• 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.