Active real-estate-and-business needs-renovation

Historic Marion, SC Estate

Price
$565,000.00
Listing Tags
value-add
Beds
28
Size
6800 sqft
Type
Single Family
Historic Marion, SC Estate

Overview

This 1895 Victorian estate in the heart of Marion, South Carolina, is offered as real estate together with a sober living business concept. The 6,800-square-foot home sits on 2.37 acres with dual residential and commercial zoning, and the floor plan is being built out for up to 28 beds once renovation is complete.

Lease and Income Structure

Built in 1895 and listed on the Historical Registry, this Victorian estate has already lived two lives: a private family residence, then a funeral home serving the community of Marion. Ten fireplaces, hardwood floors throughout, and a covered wraparound porch carry the scale and character that come with a house this size. What's rare is the zoning behind it — the parcel carries both residential and commercial designations, the kind of flexibility a recovery home needs that most single-family listings don't have.

The scale is the case for it as recovery housing. At 6,800 square feet across two stories, the house has the room count and the square footage per bed to support a large program, and the existing layout already includes a den, a library, and several first-floor rooms that convert naturally into shared bedrooms or common space. The 2.37-acre lot leaves room for parking and outdoor space without crowding neighbors, and the house is on municipal water and sewer, so there's no septic or well to plan around.

The pro forma is built on a $150 weekly bed rate and a $200 intake fee, with a 20% vacancy allowance already subtracted before the revenue total. At full projected occupancy that pencils to roughly $167,000 a year in operator revenue. Real estate tax on the current assessment runs about $5,000 a year.

The offering includes the real estate and the sober living business concept together, so a buyer isn't starting from a blank parcel. Marion sits in the Pee Dee region of South Carolina, an area operators today often serve from Florence or Myrtle Beach, and a house this size inside town gives a program its own address instead of a drive-in commute. The building needs mechanical and cosmetic work to get there — see Scope of Work below. The harder items, the roof and one of two water heaters, are already done.

Property Financials
Bed Data
Private Beds 2
Shared Beds 26
Total Beds 28
Vacancy Rate (estimated) 20%
House Mentors 2.7
Revenue-Producing Beds 19.30
Weekly Rent $150.00
Intake Fee $200.00
Revenue (Annual)
Total Potential Rent Income $218,400.00
Less: Vacancy & Loss $43,680.00
Less: Mentor Rent Credit $21,060.00
Plus: Intake Fee Revenue $8,800.00
Plus: Laundry Service Revenue $4,576.00
Total Revenue $167,036.00
Expenses (Annual)
Operating Expenses $30,278.00
Property Taxes $5,000.00
Property Insurance $3,250.00
Operator Compensation $24,000.00
Total Expenses $62,528.00
Net Income
Net Operating Income $104,508.00
Valuation
Capitalization Rate 8.50%
Value on Cap Rate $1,229,506.00

Work Needed

The roof was replaced in 2024 and one of the home's two water heaters is new, so the two biggest-ticket items are already handled. What's left is a full HVAC replacement and cosmetic rehabilitation throughout to bring the finishes up to move-in condition. Budget and plan for both before opening.