181 Louie St · Wagener, SC 29164

$115,000

3 bd · 2.0 ba · 1,628 sqft · SingleFamily public records · 224 Days on market

Built 1940 0.48 ac lot Est $140k · 18% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING STONE COTTAGE! This fixer-upper needs lots of work, but the potential is unlimited! It is located on a corner lot within the town limits of Wagener with access to town water and sewer. The masonry details of this home are amazing with stone walls, walkways and porches. Square footage is around 1600 sq. ft. with some hardwood floors and a fireplace. Interior photos to follow soon.

Key facts

• Walkways
• Porches
• Town sewer

Tags

• CORNER LOT
• TOWN WATER
• TOWN SEWER
• STONE WALLS
• WALKWAYS
• PORCHES

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Community sewer
• Home design: Two-story home
• Construction: Crawlspace foundation
• Exterior features: Stone and vinyl exterior; Paved road access; Community water

Interior

• Bedrooms: Primary bedroom located on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Window air conditioning units
• Interior features: One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#193 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cyril B. Busbee Elementary (math 22% / reading 27%, grade F, #452 of 597 statewide, top 78%, 472 students, 100% FRL); Wagener-Sally High (math 17% / reading 72%, grade F, #166 of 196 statewide, top 87%, 265 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 77 active listings in the ZIP; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 224 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $80k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% 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.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $140,008
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 Mill St SW	0.11mi	3/2.0	1,804 (+11%)	7mo	$130,000	$72	71
39 Gantt St	0.64mi	3/2.0	1,600 (-2%)	11mo	$285,000	$178	58
160 Earle St N	0.33mi	3/1.0	1,736 (+7%)	15mo	$150,000	$86	57
210 Mill St SW	0.12mi	2/1.0 (-1)	1,473 (-10%)	20mo	$21,500	$15	53
443 Main St S	0.57mi	3/2.0	1,391 (-15%)	6mo	$167,000	$120	44

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

Projected returns pro-forma

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

5-year hold

• IRR: 8.5%
• Equity multiple: 1.33×
• Total profit: $10,725
• Equity at exit: $17,147

10-year hold

• IRR: 17.7%
• Equity multiple: 2.47×
• Total profit: $47,179
• Equity at exit: $9,943

Cash invested: $32,200 (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 →

ZIP-level market 29164

• Home prices YoY: -7.0%
• Active inventory: 77
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,566 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$125 /mo · $1,500/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $461

Break-even live

Break-even rent $982

Max offer price $115,000

Occupancy floor 66%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $115,000 Active 224 DOM
2. 2026-06-17
   days on market $115,000 Active 223 DOM
3. 2026-06-16
   days on market $115,000 Active 222 DOM
4. 2026-06-15
   days on market $115,000 Active 221 DOM
5. 2026-06-14
   days on market $115,000 Active 219 DOM
6. 2026-06-13
   days on market $115,000 Active 218 DOM
7. 2026-06-10
   days on market $115,000 Active 216 DOM
8. 2026-06-09
   days on market $115,000 Active 215 DOM
9. 2026-06-08
   days on market $115,000 Active 214 DOM
10. 2026-06-07
    days on market $115,000 Active 213 DOM
11. 2026-06-03
    days on market $115,000 Active 209 DOM
12. 2026-06-02
    days on market $115,000 Active 208 DOM
13. 2026-06-01
    days on market $115,000 Active 207 DOM
14. 2026-05-31
    days on market $115,000 Active 206 DOM
15. 2026-05-30
    days on market $115,000 Active 205 DOM
16. 2026-04-03
    price $115,000
17. 2025-11-06
    listed $119,000 Active

    Show marketing remark (391 chars)

    CHARMING STONE COTTAGE! This fixer-upper needs lots of work, but the potential is unlimited! It is located on a corner lot within the town limits of Wagener with access to town water and sewer. The masonry details of this home are amazing with stone walls, walkways and porches. Square footage is around 1600 sq. ft. with some hardwood floors and a fireplace. Interior photos to follow soon.

18. 2025-11-06
    listed $119,000 Active 391-char remark

    Show marketing remark (391 chars)

    CHARMING STONE COTTAGE! This fixer-upper needs lots of work, but the potential is unlimited! It is located on a corner lot within the town limits of Wagener with access to town water and sewer. The masonry details of this home are amazing with stone walls, walkways and porches. Square footage is around 1600 sq. ft. with some hardwood floors and a fireplace. Interior photos to follow soon.

19. 2020-12-17
    soldstatus $79,900 817-char remark

    Show marketing remark (817 chars)

    TLC NEEDED! Great candidate for the 203K loan (Rehab loan for owner occupants). Charming stone ranch located on a spacious half acre corner lot. Beautiful azalea bushes, camellias, iris, and other flowers that bloom throughout the year. Large master bedroom with full bath and walkin closet. It joins the entertainment room where family gather to watch TV. Hardwood floors throughout. Beautiful front room with builtin bookshelves, a fireplace and arched entry leading into the formal dining room. Convenient laundry room with rods for the clothes. Fenced back yard with plenty of room for the dog and children to play safely. All window coverings stay. Cute sunroom that could be used as an office. Total of 3 bedrooms and 2 full baths. Ample storage in the two sheds and outbuildings. A lot of house for the price.

20. 2020-12-11
    soldstatus $79,900
21. 2020-05-10
    listed $98,900 817-char remark

    Show marketing remark (817 chars)

    TLC NEEDED! Great candidate for the 203K loan (Rehab loan for owner occupants). Charming stone ranch located on a spacious half acre corner lot. Beautiful azalea bushes, camellias, iris, and other flowers that bloom throughout the year. Large master bedroom with full bath and walkin closet. It joins the entertainment room where family gather to watch TV. Hardwood floors throughout. Beautiful front room with builtin bookshelves, a fireplace and arched entry leading into the formal dining room. Convenient laundry room with rods for the clothes. Fenced back yard with plenty of room for the dog and children to play safely. All window coverings stay. Cute sunroom that could be used as an office. Total of 3 bedrooms and 2 full baths. Ample storage in the two sheds and outbuildings. A lot of house for the price.

ⓘ 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: $1,500 · $125/mo
• Projected year-2 tax: $1,500 · $125/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,787
• − Mortgage interest: −$6,442
• − Property taxes: −$1,500
• − Insurance: −$575
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$3,345
• Taxable income: $3,918
• Est. tax owed @ 24.0%: −$940
• After-tax cash flow: $4,589/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.

Schools (NCES district)

• District: Aiken 01
• NCES district ID: 4500720
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $45,081
• Composite: 31.91/100
• National rank: #5857
• State rank: #36 of 80 in SC

Livability — Wagener

• Score: 62/100
• State rank: #193
• US rank: #16867

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wagener, SC
• Population (ZIP): 4,961

Population outlook (Aiken County) Hauer SSP2

• Today (2025): 178,003 people
• By 2030: 182,876 · +2.7%
• By 2040: 189,970 · +6.7%
• By 2050: 193,840 · +8.9%
• By 2075: 199,453 · +12.1%
• By 2100: 192,403 · +8.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 14% Hispanic / Latino 14%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Italian 11% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada

Political lean MEDSL · Aiken

• 2024 margin: Strong R (+25.9) · D 36.4% · R 62.2% · Other 1.4%
• 2008→2024 swing: -1.9pp toward R · 2008: -24.0pp · 2024: -25.9pp
• All cycles: 2024: R+25.9 2020: R+22.7 2016: R+27.5 2012: R+26.0 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.87%
• Current HPI: 276.73
• 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

Price history

+16.3% since first listed

6 events — show timeline

• 2026-04-03 Price Changed $115,000 Consolidated MLS
• 2025-11-06 Listed $119,000 AMLS
• 2025-11-06 Listed $119,000 Consolidated MLS
• 2020-12-17 Sold (MLS) $79,900 AMLS
• 2020-12-11 Sold (Public Records) $79,900 Public Records
• 2020-05-10 Listed $98,900 AMLS

Property tax history

+24.7%/yr

Latest (2025): $1,500 · +6.5% YoY. Source: county tax records.