200 Whitehall St

Abbeville, SC 29620

$174,999D+

2 bd · 2.5 ba · 1,339 sqft · Built 1920 · SingleFamily · Active · 342 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,245/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $-122/mo
• Annual: $-1,461/yr
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• 1% rule: 0.71%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.5-bath single-family listed at $175k.
• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (28.9% below list).
• It's been on market 342 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (28.9% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#111 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Abbeville 60 (rural): math 50% / reading 49% proficiency, ranked #15 of 80 in SC (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Long Cane Primary (335 students, 100% FRL); Wright Middle (math 37% / reading 39%, grade F, #86 of 229 statewide, top 39%, 346 students, 100% FRL); Abbeville High (math 77% / reading 77%, grade A-, #28 of 196 statewide, top 16%, 473 students, 74% FRL) — zoned schools average 91% FRL vs 57% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 145 units permitted in Abbeville County in 2024 (0 in 5+ unit buildings).
• Abbeville County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.5% in Abbeville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 342 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.