408 Bakerville Rd

Easley, SC 29642

$99,900B

3 bd · 2.0 ba · 1,146 sqft · Built 1992 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,858/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$243
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $701/mo
• Annual: $8,418/yr
• Cap rate: 14.72%
• Cash-on-cash: 30.09%
• DSCR: 2.34
• 1% rule: 1.86%
• Cash to close: $27,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#47 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, commute F.
• Pickens 01 (rural): math 42% / reading 50% proficiency, ranked #21 of 80 in SC (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West End Elementary (math 41% / reading 47%, grade F, #239 of 597 statewide, top 41%, 622 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.3%/yr); 319 active listings in the ZIP; solid renter incomes; 1,440 units permitted in Pickens County in 2024 (245 in 5+ unit buildings).
• Pickens County population projected at +6% 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 + 5.3% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.7% vs local median 4.0% in Easley — 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.

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 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?
• 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.