269 Cherry Rd

Winnsboro Mills, SC 29180

$60,000B-

3 bd · 1.0 ba · 1,266 sqft · Built 1970 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,166/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$127
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $480/mo
• Annual: $5,756/yr
• Cap rate: 15.89%
• Cash-on-cash: 34.26%
• DSCR: 2.52
• 1% rule: 1.94%
• Cash to close: $16,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 50 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#265 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 D-.
• Fairfield 01 (rural): math 26% / reading 38% proficiency, ranked #53 of 80 in SC (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairfield Central High (math 37% / reading 77%, grade C, #120 of 196 statewide, top 64%, 662 students, 100% FRL) — zoned schools average 100% FRL vs 80% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 32% district-wide (+25 pts) — the actual schools serving this property are materially stronger than the Fairfield 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 75 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 91 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• Fairfield County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 49% 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.
• This rent runs 32% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.