8 Powell St

Utica, SC 29678

$225,000D+

3 bd · 2.0 ba · 1,544 sqft · Built 1941 · SingleFamily · Active · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,818/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$173
• HOA: −$0
• Vac / Maint / Mgmt: −$382
• Net cashflow: $83/mo
• Annual: $995/yr
• Cap rate: 6.74%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• 1% rule: 0.81%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $83 ($995/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (19.2% below list).
• It's been on market 183 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (19.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#158 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blue Ridge Elementary (math 29% / reading 25%, grade F, #421 of 597 statewide, top 73%, 597 students, 100% FRL); Seneca Middle (math 36% / reading 40%, grade F, #86 of 229 statewide, top 39%, 781 students, 77% FRL); Seneca High (math 62% / reading 87%, grade B+, #38 of 196 statewide, top 20%, 1,052 students, 67% FRL) — zoned schools average 82% FRL vs 50% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.7%/yr); 370 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 648 units permitted in Oconee County in 2024 (40 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $24k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $225k implies a 650% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 6.7% vs local median 2.6% in Utica — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 42% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1941 — 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 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?
• 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.