1981 Great Falls Hwy

Chester, SC 29014

$63,600B-

3 bd · 1.0 ba · 1,160 sqft · Built 1970 · SingleFamily · Pending · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,635/mo
• Mortgage (P&I): −$334
• Tax + insurance: −$221
• HOA: −$0
• Vac / Maint / Mgmt: −$343
• Net cashflow: $737/mo
• Annual: $8,842/yr
• Cap rate: 20.20%
• Cash-on-cash: 49.65%
• DSCR: 3.21
• 1% rule: 2.57%
• Cash to close: $17,808

Investor read

• This is a 3-bed/1.0-bath single-family listed at $64k.
• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• It's been on market 66 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($440 loan paydown + $2k appreciation (3.2% local appreciation)).
• Location reads 52/100 on livability (#344 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Chester 01 (rural): math 23% / reading 34% proficiency, ranked #59 of 80 in SC (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Chester Park School Elementary of Inquiry (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 409 students, 100% FRL); Chester Middle (math 8% / reading 22%, grade F, #202 of 229 statewide, top 89%, 517 students, 100% FRL); Chester Senior High (math 32% / reading 72%, grade D+, #142 of 196 statewide, top 74%, 754 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.7% of price.
• Market conditions: 17 active listings in the ZIP; 269 units permitted in Chester County in 2024 (0 in 5+ unit buildings).
• Chester County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $2k; list at $64k implies a 2444% gain — meaningful room to come down on a strong offer.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% 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.
• Cap rate 20.2% vs local median 3.2% in Chester — 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

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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.