107 Academy St

Jonesville, SC 29379

$79,000B-

5 bd · 2.0 ba · 3,220 sqft · Built — · Other · Active · 247 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $414/mo
• Annual: $4,963/yr
• Cap rate: 12.58%
• Cash-on-cash: 22.44%
• DSCR: 2.00
• 1% rule: 1.47%
• Cash to close: $22,120

Investor read

• This is a 5-bed/2.0-bath other listed at $79k.
• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 247 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#254 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, crime B; Watch: amenities F, commute F, employment F.
• Union 01 (town): math 23% / reading 33% proficiency, ranked #60 of 80 in SC (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jonesville Elementary Middle (math 25% / reading 27%, grade F, #439 of 597 statewide, top 74%, 603 students, 43% FRL); Sims Middle (math 14% / reading 25%, grade F, #182 of 229 statewide, top 80%, 672 students, 100% FRL); Union County High (math 31% / reading 71%, grade D+, #148 of 196 statewide, top 76%, 1,069 students, 100% FRL) — zoned schools average 81% FRL vs 64% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 124 active listings in the ZIP; 57 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $101k (56%) 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 ~6 years — after that, you're playing with house money.
• Climate carrying-cost: 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 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.