202 Prince St

Abbeville, SC 29620

$205,000D+

4 bd · 3.0 ba · 1,711 sqft · Built 1979 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,630/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$521
• HOA: −$0
• Vac / Maint / Mgmt: −$342
• Net cashflow: $-308/mo
• Annual: $-3,699/yr
• Cap rate: 4.49%
• Cash-on-cash: -6.44%
• DSCR: 0.71
• 1% rule: 0.80%
• Cash to close: $57,400

Investor read

• This is a 4-bed/3.0-bath single-family listed at $205k.
• At list price, monthly cash flow is $-308 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (26.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (20.5% below list).
• It's been on market 37 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (26.6% below list) — sets the bar for cash-flow.
• In year one you build about $22k of equity ($1k loan paydown + $20k 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.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 109 active listings in the ZIP; 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.
• 2 sale attempts since 4y ago 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.
• By year 2, paydown + projected appreciation supports a ~$35k 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.

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 37 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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?
• 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.