11 Dove Street St

Johnston, SC 29832

$98,000C

3 bd · 1.0 ba · 1,092 sqft · Built 1983 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,035/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$170
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $134/mo
• Annual: $1,607/yr
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• 1% rule: 1.06%
• Cash to close: $27,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($678 loan paydown + $3k appreciation (2.7% local appreciation)).
• Location reads 64/100 on livability (#161 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment F.
• Edgefield 01 (rural): math 26% / reading 39% proficiency, ranked #48 of 80 in SC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Johnston Elementary (math 12% / reading 27%, grade F, #499 of 597 statewide, top 84%, 254 students, 99% FRL); Johnston-Edgefield-Trenton Middle (math 17% / reading 31%, grade F, #167 of 229 statewide, top 74%, 387 students, 88% FRL); Strom Thurmond High (math 27% / reading 72%, grade D, #151 of 196 statewide, top 79%, 748 students, 74% FRL) — zoned schools average 87% FRL vs 55% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 181 units permitted in Edgefield County in 2024 (0 in 5+ unit buildings).
• Edgefield County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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 (2.7% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; 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

• 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.