207 Ellis Ave

Abbeville, SC 29620

$165,000C-

2 bd · 2.0 ba · 1,474 sqft · Built 1950 · SingleFamily · Active · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,245/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $-157/mo
• Annual: $-1,881/yr
• Cap rate: 5.15%
• Cash-on-cash: -4.07%
• DSCR: 0.82
• 1% rule: 0.75%
• Cash to close: $46,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (24.5% below list).
• It's been on market 136 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (24.5% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#111 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Abbeville 60 (rural): math 50% / reading 49% proficiency, ranked #15 of 80 in SC (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Long Cane Primary (335 students, 100% FRL); Wright Middle (math 37% / reading 39%, grade F, #86 of 229 statewide, top 39%, 346 students, 100% FRL); Abbeville High (math 77% / reading 77%, grade A-, #28 of 196 statewide, top 16%, 473 students, 74% FRL) — zoned schools average 91% FRL vs 57% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 110 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 145 units permitted in Abbeville County in 2024 (0 in 5+ unit buildings).
• Abbeville County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 11y ago 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.
• Current owner paid $40k; list at $165k implies a 312% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 136 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• 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.