445 Oak Street St

Winnsboro, SC 29180

$89,900B-

4 bd · 2.0 ba · 1,643 sqft · Built 1955 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,550/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $603/mo
• Annual: $7,241/yr
• Cap rate: 14.35%
• Cash-on-cash: 28.77%
• DSCR: 2.28
• 1% rule: 1.72%
• Cash to close: $25,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#320 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, amenities F, commute F.
• Fairfield 01 (rural): math 26% / reading 38% proficiency, ranked #53 of 80 in SC (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairfield Elementary (math 16% / reading 17%, grade F, #535 of 597 statewide, top 90%, 463 students, 100% FRL); Fairfield Middle (math 17% / reading 29%, grade F, #171 of 229 statewide, top 76%, 337 students, 100% FRL); Fairfield Central High (math 37% / reading 77%, grade C, #120 of 196 statewide, top 64%, 662 students, 100% FRL) — zoned schools average 100% FRL vs 80% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; lower-income renter base — watch delinquency; 91 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• Fairfield County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $69k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 54% 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.
• This rent runs 43% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1955 — 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?
• 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.