1908 Bobolink Ave

North Augusta, SC 29841

$165,000B+

4 bd · 1.5 ba · 1,386 sqft · Built 1953 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,129/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$447
• Net cashflow: $718/mo
• Annual: $8,613/yr
• Cap rate: 11.51%
• Cash-on-cash: 18.64%
• DSCR: 1.83
• 1% rule: 1.29%
• Cash to close: $46,200

Investor read

• This is a 4-bed/1.5-bath single-family listed at $165k.
• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#56 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute 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: Hammond Hill Elementary (math 51% / reading 48%, grade D, #168 of 597 statewide, top 31%, 677 students, 26% FRL); Paul Knox Middle (math 32% / reading 43%, grade F, #90 of 229 statewide, top 42%, 683 students, 48% FRL); North Augusta High (math 51% / reading 86%, grade B, #68 of 196 statewide, top 35%, 1,719 students, 42% FRL) — zoned schools average 39% FRL vs 54% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 52% at this address vs 38% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Aiken 01 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 361 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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 (-3.0% appreciation + 3.9% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 66% 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 11.5% vs local median 3.9% in North Augusta — 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.
• This rent runs 36% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1953 — 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.
• 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.