143 Calhoun St · Lake City, SC 29560

$35,500

3 bd · 1.0 ba · 725 sqft · SingleFamily public records · 237 Days on market

Built 1940 0.31 ac lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Take advantage of this investment opportunity in the heart of Lake City, SC. This 2-bedroom, 1-bathroom home offers approximately 725 square feet of living space and sits on a spacious 0.31-acre corner lot. Built in 1940, this property has character and potential for renovation or redevelopment. The home was acquired through an online auction following a delinquent tax sale and will be conveyed by Quitclaim Deed only, using the most recent deed description. A title search has not been performed, and title insurance will not be offered. Due to the method of acquisition, the seller has limited knowledge of the property’s condition or history. The home is currently vacant and not in liva

Key facts

• 0.31 acre lot
• Built 1940
• Listed 237 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Wood siding construction; Built area above grade: 725
• Exterior features: Front porch; Shingle roof

Interior

• Kitchen: Range (stove)
• Bathrooms: 1 full bathroom
• Interior features: Range (stove) included; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($949 rent vs $36k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.

Location & tenants

• 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: Main Street Elementary (math 7% / reading 13%, grade F, #582 of 597 statewide, top 98%, 334 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.
• Market conditions: 66 active listings in the ZIP; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $245 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $25k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $31,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 2.67% ✓
• Cap rate: 22.00%
• Cash-on-cash: 56.09%
• DSCR: 3.50
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.5%
• Equity multiple: 3.40×
• Total profit: $23,877
• Equity at exit: $5,293

10-year hold

• IRR: 59.6%
• Equity multiple: 6.94×
• Total profit: $59,051
• Equity at exit: $3,069

Cash invested: $9,940 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29560

• Home prices YoY: -21.1%
• Active inventory: 66
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $949 medium
• Mortgage (P&I): −$186
• Tax from tax record: −$84 /mo · $1,007/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $465

Break-even live

Break-even rent $361

Max offer price $35,500

Occupancy floor 46%

Sensitivity live

Price	-10% $485	-5% $475	+0% $465	+5% $455	+10% $445
Rent	-10% $390	-5% $427	+0% $465	+5% $502	+10% $540
Rate	-1.0pp $482	-0.5pp $474	base $465	+0.5pp $455	+1.0pp $446

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,875
• Closing costs: $1,065
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $35,500 Active 237 DOM
2. 2026-06-17
   days on market $35,500 Active 236 DOM
3. 2026-06-16
   days on market $35,500 Active 235 DOM
4. 2026-06-15
   days on market $35,500 Active 234 DOM
5. 2026-06-13
   days on market $35,500 Active 232 DOM
6. 2026-06-12
   days on market $35,500 Active 231 DOM
7. 2026-06-09
   days on market $35,500 Active 228 DOM
8. 2026-06-08
   days on market $35,500 Active 227 DOM
9. 2026-06-08
   days on market $35,500 Active 226 DOM
10. 2026-06-07
    days on market $35,500 Active 225 DOM
11. 2026-06-04
    days on market $35,500 Active 222 DOM
12. 2026-06-02
    days on market $35,500 Active 221 DOM
13. 2026-06-01
    days on market $35,500 Active 220 DOM
14. 2026-05-31
    days on market $35,500 Active 219 DOM
15. 2026-03-25
    status Active
16. 2025-10-24
    listed $35,500 Active
17. 2007-09-18
    soldstatus $25,000
18. 2000-04-30
    soldstatus $41,000
19. 2000-02-29
    soldstatus $38,756
20. 1995-08-31
    soldstatus $32,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $1,007 · $84/mo
• Projected year-2 tax: $1,007 · $84/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,384
• − Mortgage interest: −$1,989
• − Property taxes: −$1,007
• − Insurance: −$178
• − Repairs & maintenance: −$911
• − Management: −$911
• − Depreciation: −$1,033
• Taxable income: $5,357
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $4,289/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Florence 03
• NCES district ID: 4502190
• Math proficiency: 16% ▼ -8.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $33,207
• Composite: 17.51/100
• National rank: #9053
• State rank: #67 of 80 in SC

Livability — Lake City

• Score: 66/100
• State rank: #124
• US rank: #12348

Category grades

Amenities C+ Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake City, SC
• Population (ZIP): 12,284

Population outlook (Florence County) Hauer SSP2

• Today (2025): 141,714 people
• By 2030: 142,121 · +0.3%
• By 2040: 141,344 · -0.3%
• By 2050: 139,478 · -1.6%
• By 2075: 132,275 · -6.7%
• By 2100: 118,374 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (55%)
• Race & ethnicity: Black 55% White 39% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Serbian 3% Slovak 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Florence

• 2024 margin: Lean R (+8.0) · D 45.3% · R 53.3% · Other 1.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -3.2pp · 2024: -8.0pp
• All cycles: 2024: R+8.0 2020: R+2.3 2016: R+5.0 2012: R+0.5 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.93%
• Current HPI: 172.1796
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

+9.2% since first listed

6 events — show timeline

• 2026-03-25 Relisted — RAGPD
• 2025-10-24 Listed $35,500 RAGPD
• 2007-09-18 Sold (Public Records) $25,000 Public Records
• 2000-04-30 Sold (Public Records) $41,000 Public Records
• 2000-02-29 Sold (Public Records) $38,756 Public Records
• 1995-08-31 Sold (Public Records) $32,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,007 · +8.4% YoY. Source: county tax records.