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

The Historic Marion Estate is an 1895 Victorian on 2.37 acres in Marion, South Carolina, offered at $565,000 with the real estate and the sober living business together. Dual residential and commercial zoning, municipal water and sewer, and 6,800 square feet built out for up to 28 beds. The roof was replaced in 2024, so what remains is HVAC and cosmetics, and Vanderburgh can arrange first position financing with a seller-financed second behind it.

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 capital structure is what makes the number workable. Vanderburgh can place a first position mortgage at closing and finance a second position seller note behind it, so a qualified buyer's cash to close stays low against the purchase price. A renovation draw facility can cover the mechanical and cosmetic work against completed jobs rather than out of pocket. The first position carries its own requirements, including verified liquidity and a 680 minimum credit score for the best terms, and terms are negotiable.

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.