209 River Rest Rd

North, SC 29112

$59,900A-

3 bd · 1.5 ba · 2,136 sqft · Built 1970 · SingleFamily · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,328/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$475
• HOA: −$0
• Vac / Maint / Mgmt: −$279
• Net cashflow: $260/mo
• Annual: $3,124/yr
• Cap rate: 20.05%
• Cash-on-cash: 49.14%
• DSCR: 3.19
• 1% rule: 2.22%
• Cash to close: $16,772

Investor read

• This is a 3-bed/1.5-bath single-family listed at $60k.
• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 71 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 57/100 on livability (#280 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: amenities F, commute F, employment D-.
• Zoned schools: Dover Elementary (math 15%, 240 students, 100% FRL); North Middle/High (math 8%, 257 students, 100% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 33 active listings in the ZIP; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y 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.
• Current owner paid $37k; list at $60k implies a 62% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; 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 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.