314 Jennings St

Bennettsville, SC 29512

$12,500D

1 bd · 1.0 ba · 495 sqft · Built 1973 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $793/mo
• Mortgage (P&I): −$66
• Tax + insurance: −$36
• HOA: −$0
• Vac / Maint / Mgmt: −$167
• Net cashflow: $526/mo
• Annual: $6,308/yr
• Cap rate: 56.76%
• Cash-on-cash: 180.23%
• DSCR: 9.02
• 1% rule: 6.35%
• Cash to close: $3,500

Investor read

• This is a 1-bed/1.0-bath single-family listed at $12k.
• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($793 rent vs $12k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $86 of loan paydown is wiped out by about $375 of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#345 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Marlboro 01 (town): math 16% / reading 25% proficiency, ranked #71 of 80 in SC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marlboro County High (math 22% / reading 77%, grade D, #151 of 196 statewide, top 79%, 1,047 students, 100% FRL) — zoned schools average 100% FRL vs 76% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 20% district-wide (+29 pts) — the actual schools serving this property are materially stronger than the Marlboro 01 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.9% of price.
• Market conditions: 54 active listings in the ZIP; 6 units permitted in Marlboro County in 2024 (0 in 5+ unit buildings).
• Marlboro County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $8k; list at $12k implies a 61% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 78% 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.
• Cap rate 56.8% vs local median 5.6% in Bennettsville — 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.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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?
• 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.