Under $100K Sunday - c.1940 South Carolina Handyman Special For Sale By Owner $90K

OHU50K Notes $90,000

South Carolina Handyman special for sale. Being sold by the current owner. Located on a quaint and quiet street. Great opportunity to being this gem to its full potential.

Realtor Comments

This location is similar to many small towns in that the downtown older homes are being renovated and revitalized and that’s the case here. Just blocks from the finest shops and restaurants in Florence, this location is truly prime. This charming home seems to have been built in the 40’s, is about 1500 SqFt and is currently a 3/1 in its current layout. Lots of opportunity exists to add a bathroom and potentially enclose the porch for additional living area. If you really want to maximize, the attic is huge and may potentially have room for finished area and the plat is a block and a half so one strategy may be to pursue installing an auxiliary dwelling unit. This house is a complete gut and needs everything from plumbing, roofing, to wiring, to HVAC, to all finishes. Please be aware of that before you inquire. No estimates have been gathered. Pursue this house as an as-is, where is deal. As a former appraiser, I have picked some great comps which indicate the ARV of the house would be $240K to $260K in today’s market and potentially more depending on how you finish it out. See the list of comparable addresses in the photo images. The price is $90K within 30 days or take up to 13 months to close and pay $110k. This is a great strategy for a flipper, or use the BRRR method but no “B” until the end! John Kent Spehl is the owner and a licensed Real Estate Broker in South Carolina.

3 beds
1 bath
1,500 sqft
0.25 acres
Build date 1940

If interested in a property, pleases contact the realtor whose link is provided in the post below, or contact an agent of your own choosing. Independent verification of details and status is recommended.

413 Winston St, Florence, SC 29501

(803) 397-1001 Property Owner
Google Map
Niche

Pros of Living in Florence, SC

1. Affordable Cost of Living

Florence boasts a cost of living below the national average, with median home values approximately half the state average. This affordability extends to utilities and groceries, making it an attractive option for budget-conscious individuals. Dividends Diversify

2. Robust Healthcare System

The city is a regional medical hub, home to top-tier facilities like McLeod Regional Medical Center and MUSC Health Florence Medical Center. These institutions provide comprehensive care and numerous employment opportunities in the healthcare sector. Dividends Diversify+3Home & Money+3TheAdviserMagazine.com+3

3. Cultural and Recreational Amenities

Florence offers a variety of cultural attractions, including the Florence County Museum, the War Between the States Museum, and the Florence Symphony Orchestra. Outdoor enthusiasts can enjoy parks such as Timrod Park and the Lynches River County Park, as well as nearby beaches and mountains. Dollarsanity+1TheAdviserMagazine.com+1Dividends Diversify

4. Strategic Location

Situated at the crossroads of I-95 and I-20, Florence provides convenient access to major cities like Charleston, Columbia, and Myrtle Beach. Its central location makes it ideal for travel and commerce. Dollarsanity+2Wikipedia+2TheAdviserMagazine.com+2

5. Economic Opportunities

The city hosts regional headquarters for companies like GE Healthcare, Assurant, and Otis Elevator. Additionally, the presence of educational institutions like Francis Marion University and Florence-Darlington Technical College supports a skilled workforce. WikipediaHome & Money

Cons of Living in Florence, SC

1. Higher Crime Rates

Florence experiences crime rates above the national average, with property crime and violent crime rates significantly higher than the national averages. Residents should be mindful of safety and consider neighborhood-specific crime statistics.

2. Limited Shopping and Dining Options

While Florence offers essential services and local dining, it lacks the extensive shopping and high-end retail options found in larger metropolitan areas. Residents may need to travel to nearby cities for a broader selection of stores and restaurants.

3. Public Transportation Limitations

The city’s public transportation system is limited, with few bus routes and no subway or extensive taxi services. Owning a personal vehicle is essential for most residents to navigate the city and surrounding areas. TheAdviserMagazine.com+1Dollarsanity+1

4. Severe Weather Risks

Florence is susceptible to severe storms and hurricanes due to its coastal proximity. Residents should be prepared for potential weather-related disruptions and ensure their homes are equipped to handle such events.

Summary

Florence, SC, offers a blend of affordability, cultural richness, and economic opportunity, making it appealing for families, retirees, and professionals. However, potential residents should consider the higher crime rates, limited public transportation, and susceptibility to severe weather when evaluating if Florence aligns with their lifestyle preferences.