2081 Great North Rd

Great Falls, SC 29180-6099

$275,000C+

3 bd · 3.0 ba · 1,742 sqft · Built 2001 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,000/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$425
• HOA: −$0
• Vac / Maint / Mgmt: −$630
• Net cashflow: $503/mo
• Annual: $6,033/yr
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• 1% rule: 1.09%
• Cash to close: $77,000

Investor read

• This is a 3-bed/3.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• It's been on market 55 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#244 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment F.
• Fairfield 01 (rural): math 26% / reading 38% proficiency, ranked #53 of 80 in SC (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairfield Elementary (math 16% / reading 17%, grade F, #535 of 597 statewide, top 90%, 463 students, 100% FRL); Fairfield Central High (math 37% / reading 77%, grade C, #120 of 196 statewide, top 64%, 662 students, 100% FRL) — zoned schools average 100% FRL vs 80% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 91 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• Fairfield County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $125k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wind risk, 51% 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 8.8% vs local median 2.9% in Great Falls — 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 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.