The primary school, in Montford, at present has 114 pupils, with class numbers ranging from eight to 22.
The principal, who refused to be identified, said that he was trying to attract more pupils.
The school once had close to 600 pupils, but the number has gradually decreased.
According to the principal, after crime increased in the area, parents began sending their children to other schools.
"Our numbers have been falling for a long time. The area that our school is in is crime-ridden and parents are taking their children to other schools," he said.
He added that there had been robberies at the school and that he was once held up at gunpoint in his office.
"The school has been vandalised. Our doors were stolen and copper wires were taken."
The school, which is about 30 years old, has seen a sudden decrease in pupils over the past few years.
Last year the school had 140 pupils. At the end of this year, the school is set to lose 22 pupils, and so far there have been only six enrolments for next year.
The principal said that he was asked by the Department of Education to provide it with statistics on the number of pupils in his school.
He was told that the school was on a list of institutions that faced the prospect of being closed.
"Right now, it's up in the air. I heard about a school which had low numbers, but they managed to increase them. I am still hopeful that we can get more pupils, irrespective of the problems we face."
He said that, as a result of the decline in pupils, his school's finances had suffered a huge blow.
"It has been very bad. We don't have basic items in the school such as a computer and a printer. Our telephone was recently suspended and we had to raise funds to get our line back."
He said that, because pupils were from very disadvantaged backgrounds, many were unable to pay school fees.
The school is desperate to attract more pupils and has been campaigning in various areas around Durban to try to persuade parents to enrol their children.
"I have advertised in local newspapers but have not managed to get a response. We have also advertised in areas such as Umlazi," said the principal.
Provincial Department of Education spokesman Mbali Thusi said they were aware of the drastic drop in enrolment at the school.
She said the decline could be attributed to several factors, including the number of other schools in the area, as well as crime.
"The department is in consultation with stakeholders such as the school's governing body to look into strategies to make the school viable and how to increase the enrolment numbers," said Thusi.
She added that closing the school would be a last resort.
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