145 Mel Dr · Walhalla, SC 29691

$62,400

2 bd · 1.5 ba · 1,008 sqft · SingleFamily public records · 17 Days on market

Built 1966 0.50 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover an exceptional opportunity to acquire a ranch-style property, strategically situated at the end of a dead-end road. The exterior features a generously sized deck, ideal for gatherings, complemented by a carport. Located in Walhalla, the property affords convenient access to local conveniences. This offering represents a compelling prospect for those seeking to enhance a property through renovations. Offered in its present "as-is" condition. This is sold as is, where is, with all faults, and the seller makes no warranty and representation, express or implied or arising by operation of law, including and not limited to any warranty of condition, title, habitability, merchan

Key facts

• Convenient access
• Carport
• Secluded locale

Tags

• RANCH-STYLE PROPERTY
• GENEROUSLY SIZED DECK
• CARPORT
• DEAD-END ROAD
• CONVENIENT ACCESS
• SECLUDED LOCALE

Property features AI

Exterior

• Parking: One-car garage; Attached carport
• Utilities: Public water; Septic tank sewer
• Home design: Single-story home; Built over 50 years ago; Metal roof; Vinyl siding; Crawlspace foundation
• Construction: Vinyl siding construction; Metal roof; Crawlspace foundation
• Exterior features: Deck; Level lot; Not in a subdivision; Located outside city limits

Interior

• Kitchen: Dishwasher
• Bedrooms: Two main-level bedrooms (dimensions include a 10x23 and an 11x12)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central electric air conditioning; Natural gas heating
• Interior features: Laminate countertops; Primary bedroom with private bath; Shower-only bath

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 3.9% in Walhalla — 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.

Location & tenants

• Location reads 63/100 on livability (#171 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools D-, amenities F, commute F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 648 units permitted in Oconee County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $431 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• 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.

Recommended offer $61,464 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.98% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.15%
• DSCR: 2.65
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $214,704
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 S John St	0.38mi	2/1.0	1,087 (+8%)	19mo	$169,000	$155	52
118 Branch St	0.66mi	3/2.0 (+1)	1,040 (+3%)	8mo	$222,000	$213	51
208 S Spring St	0.64mi	2/2.0	1,052 (+4%)	23mo	$225,000	$214	42
310 S Pine St	0.71mi	2/1.0	920 (-9%)	17mo	$110,500	$120	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 33.1%
• Equity multiple: 2.39×
• Total profit: $24,361
• Equity at exit: $9,304

10-year hold

• IRR: 40.1%
• Equity multiple: 4.76×
• Total profit: $65,662
• Equity at exit: $5,395

Cash invested: $17,472 (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 29691

• Home prices YoY: -27.8%
• Active inventory: 87
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$327
• Tax from tax record: −$83 /mo · $997/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $541

Break-even live

Break-even rent $552

Max offer price $62,400

Occupancy floor 51%

Sensitivity live

Price	-10% $576	-5% $559	+0% $541	+5% $523	+10% $506
Rent	-10% $443	-5% $492	+0% $541	+5% $590	+10% $639
Rate	-1.0pp $572	-0.5pp $557	base $541	+0.5pp $525	+1.0pp $508

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: $15,600
• Closing costs: $1,872
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Highland Glen Ct Walhalla, SC	1.0–3.0	1.0–2.0	940	$1,237	$1.32	24d	1	1.02mi

Listing history 4 events

1. 2026-05-20
   status Pending
2. 2026-05-18
   status Active
3. 2026-05-14
   status Pending
4. 2026-04-28
   listed $62,400 Active

ⓘ 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: $997 · $83/mo
• Projected year-2 tax: $997 · $83/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,844
• − Mortgage interest: −$3,495
• − Property taxes: −$997
• − Insurance: −$312
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$1,815
• Taxable income: $5,849
• Est. tax owed @ 24.0%: −$1,404
• After-tax cash flow: $5,087/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: Oconee 01
• NCES district ID: 4503060
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $42,074
• Composite: 37.03/100
• National rank: #4516
• State rank: #27 of 80 in SC

Livability — Walhalla

• Score: 63/100
• State rank: #171
• US rank: #15277

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing A- Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,248

Population outlook (Oconee County) Hauer SSP2

• Today (2025): 77,950 people
• By 2030: 78,551 · +0.8%
• By 2040: 78,628 · +0.9%
• By 2050: 77,052 · -1.2%
• By 2075: 71,098 · -8.8%
• By 2100: 61,216 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Oconee

• 2024 margin: Solid R (+51.5) · D 23.6% · R 75.2% · Other 1.2%
• 2008→2024 swing: -14.0pp toward R · 2008: -37.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+47.4 2016: R+48.1 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.05%
• Current HPI: 207.8251
• 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

4 events — show timeline

• 2026-05-20 Pending — WUMLS
• 2026-05-18 Relisted — WUMLS
• 2026-05-14 Pending — WUMLS
• 2026-04-28 Listed $62,400 WUMLS

Property tax history

+27.7%/yr

Latest (2024): $997 · +760.6% YoY. Source: county tax records.