308 S Charleston St

Blacksburg, SC 29702

$125,000B-

1 bd · 1.0 ba · 992 sqft · Built 1965 · SingleFamily · Pending · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,528/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$321
• Net cashflow: $364/mo
• Annual: $4,370/yr
• Cap rate: 9.79%
• Cash-on-cash: 12.48%
• DSCR: 1.56
• 1% rule: 1.22%
• Cash to close: $35,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• It's been on market 95 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#289 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blacksburg Elementary (math 34% / reading 36%, grade F, #339 of 597 statewide, top 57%, 362 students, 100% FRL); Blacksburg Middle (math 23% / reading 32%, grade F, #147 of 229 statewide, top 66%, 360 students, 72% FRL); Blacksburg High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 553 students, 80% FRL) — zoned schools average 84% FRL vs 64% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 45 active listings in the ZIP; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: 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

• It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D-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.