404 Columbia Rd

Edgefield, SC 29824

$79,900C+

4 bd · 2.0 ba · 1,426 sqft · Built 1940 · SingleFamily · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$302
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $198/mo
• Annual: $2,375/yr
• Cap rate: 9.27%
• Cash-on-cash: 10.61%
• DSCR: 1.47
• 1% rule: 1.46%
• Cash to close: $22,372

Investor read

• This is a 4-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 109 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#290 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime D+, amenities F, commute F.
• Edgefield 01 (rural): math 26% / reading 39% proficiency, ranked #48 of 80 in SC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: W. E. Parker Elementary (math 37% / reading 37%, grade F, #315 of 597 statewide, top 55%, 375 students, 100% FRL); Strom Thurmond High (math 27% / reading 72%, grade D, #151 of 196 statewide, top 79%, 748 students, 74% FRL) — zoned schools average 87% FRL vs 55% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 4.0% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 181 units permitted in Edgefield County in 2024 (0 in 5+ unit buildings).
• Edgefield County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 12y ago; this cycle's ask has dropped $20k (20%) 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/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 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.