102 Montegue St

Santee, SC 29142

$105,000B+

4 bd · 1.5 ba · 1,125 sqft · Built 1971 · SingleFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,108/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$179
• HOA: −$0
• Vac / Maint / Mgmt: −$443
• Net cashflow: $936/mo
• Annual: $11,229/yr
• Cap rate: 16.99%
• Cash-on-cash: 38.19%
• DSCR: 2.70
• 1% rule: 2.01%
• Cash to close: $29,400

Investor read

• This is a 4-bed/1.5-bath single-family listed at $105k. Condition is rated fair.
• At list price, monthly cash flow is $936 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 99 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($726 loan paydown + $4k appreciation (3.5% local appreciation)).
• Location reads 61/100 on livability (#202 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Zoned schools: Elloree Elementary (math 10%, 387 students, 100% FRL).
• Market conditions: 183 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $21k; list at $105k implies a 410% gain — meaningful room to come down on a strong offer.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% 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.
• Cap rate 17.0% vs local median 5.0% in Santee — 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.
• At $2,108/mo this rent would consume 50% of the median local household income ($51k/yr) (locally 31% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 1971 — 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 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear visible.
• Major: exterior siding — Peeling paint and visible wear.
• Major: flooring — Visible wear and tear.
• Major: interior walls/paint — Visible wear and tear.
• Major: landscaping — Overgrown grass and weeds.
• Major: fencing — Visible wear and tear.