506 Taylor St

Lake City, SC 29560

$134,900D

3 bd · 1.0 ba · 1,456 sqft · Built 1947 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,177/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $77/mo
• Annual: $927/yr
• Cap rate: 6.98%
• Cash-on-cash: 2.45%
• DSCR: 1.11
• 1% rule: 0.87%
• Cash to close: $37,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $77 ($927/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 $118k (12.8% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $118k (12.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#124 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment D-.
• Florence 03 (town): math 16% / reading 27% proficiency, ranked #67 of 80 in SC (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lake City Early Childhood Center (379 students, 100% FRL); Ronald E. Mcnair Jr. High (math 7% / reading 13%, grade F, #221 of 229 statewide, top 97%, 209 students, 100% FRL); Lake City High (math 17% / reading 57%, grade F, #183 of 196 statewide, top 94%, 592 students, 100% FRL) — zoned schools average 100% FRL vs 83% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 68 active listings in the ZIP; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).
• 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.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; 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

• Built in 1947 — 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 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 F 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?
• 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.