Is 407 Chester Ave in Great Falls, SC a good investment?

CashFlowRE grades it B with a 17.0% cap rate and $737/mo modeled cash flow at a $83,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 407 Chester Ave?

The modeled cap rate is 17.0% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,610/month, from CashFlowRE's rent model.

B Composite 73.38

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
Appreciation +6.3/10.0
Schools +3.1/10.0
Livability +3.0/5.0
Rent growth +2.5/5.0
Condition / age +1.0/5.0

$83,000

407 Chester Ave · Great Falls, SC 29055

3 bd · 2.0 ba · 1,832 sqft · SingleFamily public records · 338 Days on market

Built 1943 Poor condition 0.55 ac lot $45/sqft · 66% below area

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Back on the market through no fault of the seller due to the previous buyer's contractual default. Opportunity is waiting! Get in early while Great Falls is growing! Circa 1943 -– Perfect Location – City of Great Falls – Beautiful Home or Rezone to Commercial Property. This amazing opportunity sits across the street from Spratt Savings Bank and beside the Shell Gas Station at the intersection of SC-200 and Chester Ave. This property offers large oversize rooms which could be office areas or bedrooms! Other rooms include a nice sized conference room or living room, a generous size break room or dining room, and a large kitchen.

Key facts

Extra room
Large oversize rooms
Large kitchen

What this means for you Summary

Snapshot

This is a 3-bed/2.0-bath single-family listed at $83k. Condition is rated poor.

Deal economics

At list price, monthly cash flow is $737 ($9k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $83k).
Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
Cap rate 17.0% vs local median 7.0% in Great Falls — 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.

Location & tenants

Location reads 59/100 on livability (#244 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment F.
Chester 01 (rural): math 23% / reading 34% proficiency, ranked #59 of 80 in SC (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
Zoned schools: Great Falls Elementary (math 32% / reading 32%, grade F, #369 of 597 statewide, top 64%, 348 students, 100% FRL); Great Falls High (math 21% / reading 40%, grade F, #189 of 196 statewide, top 97%, 386 students, 78% FRL) — zoned schools average 89% FRL vs 64% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: 54 active listings in the ZIP; lower-income renter base — watch delinquency; 269 units permitted in Chester County in 2024 (0 in 5+ unit buildings).

Forward outlook

In year one you build about $3k of equity ($574 loan paydown + $2k appreciation (2.6% local appreciation)).
Chester County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
At projected returns (2.6% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

It's been on market 338 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
3 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 $15k; list at $83k implies a 453% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
Climate carrying-cost: major wind risk, 47% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,040 (12.0% below list)

Questions for the listing agent

It's been on market 338 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1943 — 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?
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.

Investment metrics

1% rule: 1.94% ✓
Cap rate: 16.95%
Cash-on-cash: 38.08%
DSCR: 2.69
GRM: 4.3

CMA / ARV

ARV (median comp): $247,655
List price: $83,000
Delta: -66.49%
Verdict: UNDERPRICED
Comps: 11 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Chester Ave	0.27mi	3/3.0	1,661 (-9%)	13mo	$75,000	$45	57
102 Mcdowell St	0.62mi	4/2.5 (+1)	1,969 (+8%)	3mo	$285,000	$145	49
115 Chester Ave	0.56mi	3/1.5	2,078 (+13%)	4mo	$230,000	$111	46
107 Woodland Ave	0.32mi	3/2.0	1,532 (-16%)	18mo	$182,500	$119	45
129 Francis Ave	0.71mi	4/1.5 (+1)	1,750 (-4%)	22mo	$240,000	$137	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

IRR: 43.0%
Equity multiple: 3.37×
Total profit: $55,180
Equity at exit: $35,421

10-year hold

IRR: 43.2%
Equity multiple: 6.72×
Total profit: $132,884
Equity at exit: $53,155

Cash invested: $23,240 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 0 active · 3 under contract
Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29055

Home prices YoY: 1.1%
Active inventory: 54
Price-to-rent: 4.3×

Monthly cashflow live

Estimated rent: $1,610 medium interval (Pro) →
Mortgage (P&I): −$435
Tax from tax record: −$65 /mo · $780/yr
Insurance: −$35
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$338
Net cashflow: $737

Break-even live

Break-even rent $677

Max offer price $83,000

Occupancy floor 49%

Sensitivity live

Price	-10% $784	-5% $761	+0% $737	+5% $714	+10% $690
Rent	-10% $610	-5% $674	+0% $737	+5% $801	+10% $865
Rate	-1.0pp $779	-0.5pp $759	base $737	+0.5pp $716	+1.0pp $694

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: $20,750
Closing costs: $2,490
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Property features AI

Finance

Other: Zoned R-1No representation restrictions notedProperty type: Residential, single familyLot size about 0.55 acres
HOA & community: No HOA

Exterior

Parking: Driveway parkingApproximately 4 open parking spaces
Utilities: City/public waterPublic sewer
Home design: Single-family residenceOne storySite-built constructionFacing direction not specified
Construction: Wood constructionComposition roofCrawl space foundationBuilt as site-built
Exterior features: Covered front porchCleared lotPaved areas on the lotRoad surface may include dirt, gravel and paved sectionsPublicly maintained road access

Interior

Kitchen: No appliances listed
Bedrooms: 3 bedrooms (all on the main level)
Flooring: Wood
Bathrooms: 2 full bathrooms
Heating & cooling: Ceiling fan(s)Other heating (see remarks)No central heating listedNo central cooling listed
Interior features: Wood flooringFireplace
Laundry & utility: Dedicated laundry room

Listing history 50 events

2026-09-23

days on market $83,000 Active 338 DOM
2026-09-22

days on market $83,000 Active 337 DOM
2026-09-21

days on market $83,000 Active 336 DOM
2026-09-20

days on market $83,000 Active 335 DOM
2026-09-19

days on market $83,000 Active 334 DOM
2026-09-18

days on market $83,000 Active 333 DOM
2026-09-17

days on market $83,000 Active 332 DOM
2026-09-16

days on market $83,000 Active 331 DOM
2026-09-15

days on market $83,000 Active 330 DOM
2026-09-14

days on market $83,000 Active 329 DOM
2026-09-13

days on market $83,000 Active 328 DOM
2026-09-12

days on market $83,000 Active 327 DOM
2026-09-11

days on market $83,000 Active 326 DOM
2026-09-05

days on market $83,000 Active 320 DOM
2026-09-04

status $83,000 Active 319 DOM
2026-09-04

days on market $83,000 Active Under Contract 319 DOM
2026-09-03

days on market $83,000 Active Under Contract 318 DOM
2026-08-31

days on market $83,000 Active Under Contract 315 DOM
2026-08-30

days on market $83,000 Active Under Contract 314 DOM
2026-08-29

days on market $83,000 Active Under Contract 313 DOM
2026-08-28

days on market $83,000 Active Under Contract 312 DOM
2026-08-27

days on market $83,000 Active Under Contract 311 DOM
2026-08-26

days on market $83,000 Active Under Contract 310 DOM
2026-08-25

days on market $83,000 Active Under Contract 309 DOM
2026-08-24

days on market $83,000 Active Under Contract 308 DOM
2026-08-23

days on market $83,000 Active Under Contract 307 DOM
2026-08-22

days on market $83,000 Active Under Contract 306 DOM
2026-08-21

days on market $83,000 Active Under Contract 305 DOM
2026-08-20

days on market $83,000 Active Under Contract 304 DOM
2026-08-19

days on market $83,000 Active Under Contract 303 DOM
2026-08-18

days on market $83,000 Active Under Contract 302 DOM
2026-08-17

days on market $83,000 Active Under Contract 301 DOM
2026-08-16

days on market $83,000 Active Under Contract 300 DOM
2026-08-15

days on market $83,000 Active Under Contract 299 DOM
2026-08-14

days on market $83,000 Active Under Contract 298 DOM
2026-08-13

days on market $83,000 Active Under Contract 297 DOM
2026-08-12

days on market $83,000 Active Under Contract 296 DOM
2026-08-11

days on market $83,000 Active Under Contract 295 DOM
2026-08-10

days on market $83,000 Active Under Contract 294 DOM
2026-08-09

days on market $83,000 Active Under Contract 293 DOM
2026-08-08

days on market $83,000 Active Under Contract 292 DOM
2026-08-06

days on market $83,000 Active Under Contract 290 DOM
2026-08-05

days on market $83,000 Active Under Contract 289 DOM
2026-08-04

days on market $83,000 Active Under Contract 288 DOM
2026-08-03

days on market $83,000 Active Under Contract 287 DOM
2026-07-31

days on market $83,000 Active Under Contract 284 DOM
2026-07-30

days on market $83,000 Active Under Contract 282 DOM
2026-07-28

days on market $83,000 Active Under Contract 281 DOM
2026-07-26

days on market $83,000 Active Under Contract 279 DOM
2026-07-24

days on market $83,000 Active Under Contract 277 DOM

ⓘ 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: $780 · $65/mo
Projected year-2 tax: $780 · $65/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 4/10 Moderate
🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
💨 Wind 6/10 Major 47% chance of damaging wind over 30 yrs
🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $19,325
− Mortgage interest: −$4,649
− Property taxes: −$780
− Insurance: −$415
− Repairs & maintenance: −$1,546
− Management: −$1,546
− Depreciation: −$2,415
Taxable income: $7,974

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$1,914
After-tax cash flow: $6,935/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab Est. rehab $91,600–$164,880 screening

This property requires extensive renovations and repairs, including kitchen and bathroom renovations, roof and siding replacement, and HVAC system replacement. The home's poor condition and lack of maintenance will significantly impact its resale and rental value.

Deferred maintenance Est. $50,000–$150,000 screening

Major Roof (roof) — Significant damage to the roof is visible, with missing shingles and exposed structure.
Major Windows (windows) — Windows appear to be broken or missing, indicating a need for immediate replacement.
Major Electrical (electrical) — The interior is in a state of disrepair, with exposed wiring and missing fixtures, suggesting significant electrical issues.
Major Plumbing (plumbing) — The bathroom appears to be in a state of disrepair, with visible water damage and missing fixtures, indicating plumbing issues.
Major Exterior (exterior) — The exterior of the house is in a state of disrepair, with peeling paint, missing siding, and general deterioration.

Repairs flagged

Major Kitchen cabinets — The cabinets are visibly damaged and need to be replaced.
Major Kitchen countertops — The countertops are damaged and need to be replaced.
Major Kitchen appliances — The appliances are old and need to be replaced.
Major Bathroom fixtures — The fixtures are damaged and need to be replaced.
Major Roof — The roof appears to be in poor condition and needs to be replaced.
Major Siding — The siding is peeling and needs to be replaced.
Major Windows — The windows are damaged and need to be replaced.
Major HVAC system — The HVAC system appears to be in poor condition and needs to be replaced.

Value-add opportunities

Resale Kitchen renovation — A new kitchen will attract buyers and increase the home's value. ↑
Resale Bathroom renovation — A new bathroom will attract buyers and increase the home's value. ↑
Resale Roof replacement — A new roof will improve the home's appearance and increase its value. ↑
Resale Siding replacement — New siding will improve the home's appearance and increase its value. ↑
Resale Window replacement — New windows will improve the home's appearance and increase its value. ↑
Resale HVAC system replacement — A new HVAC system will improve the home's comfort and increase its value. ↑
Both Landscaping — A well-maintained landscape will improve the home's curb appeal and increase its value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Great Falls Elementary F SC #369/597 Nat'l #24,950/41,679 High Great Falls High F SC #189/196 Nat'l #10,882/17,239

Schools (NCES district)

District: Chester 01
NCES district ID: 4501530
Math proficiency: 23% ▼ -6.00%
Reading proficiency: 34% ▬ 0.00%
Median HH income: $34,041
Composite: 23.39/100
National rank: #7902
State rank: #59 of 80 in SC

D Composite livability gradescore 59/100

Livability — Great Falls

Score: 59/100
State rank: #244
US rank: #20086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Great Falls, SC
County: Chester · 30,121 people
City population: 3,858
Metro: Charlotte-Concord-Gastonia, NC-SC
Population (ZIP): 3,858
Household income: $43,631
Rent vs Own: 14.9% rent · 85.1% own
Severe rent burden: 2% of renters

Population outlook (Chester County) Hauer SSP2

Today (2025): 30,121 people
By 2030: 28,700 · -4.7%
By 2040: 25,784 · -14.4%
By 2050: 23,001 · -23.6%
By 2075: 17,770 · -41.0%
By 2100: 13,584 · -54.9%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Diverse neighborhood (Simpson 0.62)
Race & ethnicity: White 50% Black 37% Two or more races 12% Hispanic / Latino 3%
Common ancestry: Italian 1% Serbian 1% Iranian 1%
Foreign-born: 1% · Canada
Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Chester

2024 margin: R (+17.2) · D 40.8% · R 58.0% · Other 1.1%
2008→2024 swing: -25.5pp toward R · 2008: 8.3pp · 2024: -17.2pp
All cycles: 2024: R+17.2 2020: R+10.9 2016: R+4.8 2012: D+10.5 2008: D+8.3

Not yet ingested

Civics: —

Market trends

HPI YoY: ▲ 2.59%
Current HPI: 247.4479
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
#370 Sonoco Products Hartsville $6.8B

Price history

+453.3% since first listed

5 events — show timeline

2025-10-20 Listed $83,000 CANOPYMLS as Distributed by MLS Grid
2025-01-22 Relisted — CANOPYMLS as Distributed by MLS Grid
2025-01-22 Price Changed $99,000 CANOPYMLS as Distributed by MLS Grid
2024-07-18 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
1994-12-16 Sold (Public Records) $15,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $780 · +5.7% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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