204 E Fremont Ave Unit *** · Spartanburg, SC 29303

$144,900

2 bd · 2.0 ba · 1,245 sqft · SingleFamily public records · 89 Days on market

Built 1945 0.25 ac lot Est $202k · 28% under ↓ 3% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Income producing duplex in downtown Spartanburg beside Chapel Park and surrounded by new development! 204 A & B Fremont Ave offers two separate units, each with private entrances, kitchens, and bathrooms. Unit A was renovated in 2024 with new vinyl windows and 2 efficient mini split systems for heat and air . Unit B has had the same tenant for 15+ years. Both great tenants. Ideal for investors or owner-occupants, this property delivers rental income potential in a convenient location near shopping, dining, schools, and major highways. Don’t miss this rare opportunity to own a turnkey duplex in Spartanburg! Property is agent-owned.

Key facts

• Private entrances
• New vinyl windows
• Convenient location

Tags

• INCOME PRODUCING DUPLEX
• PRIVATE ENTRANCES
• NEW VINYL WINDOWS
• EFFICIENT MINI SPLIT SYSTEMS
• RENTAL INCOME POTENTIAL
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; One level
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot approximately 90 x 170 (0.25 acre)

Interior

• Heating & cooling: Heat pump heating; Heat pump cooling (electric)
• Interior features: Electric water heater

🏷️ Possibly a rental listed for sale. The $144,900 price doesn't fit this home's estimated sale value (~$201,690) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (9.5% below list).
• Recommended offer: $131k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.9% in Spartanburg — 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.

Location & tenants

• Location reads 76/100 on livability (#24 in SC, #3,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Spartanburg 07 (urban): math 34% / reading 41% proficiency, ranked #39 of 80 in SC (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Spartanburg High (math 67% / reading 79%, grade B+, #44 of 196 statewide, top 23%, 2,056 students, 85% FRL) — zoned schools average 85% FRL vs 62% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 73% at this address vs 38% district-wide (+36 pts) — the actual schools serving this property are materially stronger than the Spartanburg 07 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.7%/yr); 378 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Spartanburg County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,175 (9.5% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.93%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $201,690
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
784 N Vernon St	0.15mi	3/2.0 (+1)	1,314 (+6%)	2mo	$205,000	$156	77
267 Preston St	0.28mi	3/2.0 (+1)	1,237 (-1%)	6mo	$200,000	$162	76
182 Ridge St	0.28mi	3/2.0 (+1)	1,282 (+3%)	10mo	$210,000	$164	69
131 S Cleveland Park Dr	0.30mi	3/1.0 (+1)	1,206 (-3%)	5mo	$172,000	$143	68
269 W Centennial St	0.43mi	2/2.0	1,152 (-8%)	1mo	$115,000	$100	66
300 Farley St	0.43mi	3/2.0 (+1)	1,153 (-7%)	3mo	$203,000	$176	60
467 Breeze St	0.68mi	3/2.0 (+1)	1,200 (-4%)	2mo	$190,000	$158	56
127 S Cleveland Park Dr	0.31mi	2/1.0	1,402 (+13%)	9mo	$167,000	$119	53
558 S Center St	0.68mi	3/2.0 (+1)	1,263 (+1%)	10mo	$205,000	$162	53
336 Arch St	0.42mi	3/2.0 (+1)	1,400 (+12%)	4mo	$210,000	$150	51
439 Zephyr St	0.72mi	3/2.0 (+1)	1,191 (-4%)	6mo	$215,000	$181	50
458 Tryon St	0.75mi	3/2.0 (+1)	1,179 (-5%)	6mo	$199,500	$169	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.69% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-14,139
• Equity at exit: $21,605

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,240
• Equity at exit: $12,528

Cash invested: $40,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29303

• Home prices YoY: -14.1%
• Rents YoY: 3.7%
• Active inventory: 378
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,312 high
• Mortgage (P&I): −$760
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $133

Break-even live

Break-even rent $1,144

Max offer price $144,900

Occupancy floor 85%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
753A Leonard St Spartanburg, SC	2.0	1.0	1130	$1,185	$1.05	13d	1	0.11mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	20d	1	0.29mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,292	$1.29	13d	1	0.49mi
488 Brawley St Unit B Spartanburg, SC	3.0	2.5	1200	$1,300	$1.08	13d	1	0.57mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	20d	1	0.58mi
327 College St Unit A Spartanburg, SC	1.0	1.0	930	$950	$1.02	20d	1	0.60mi
694 Saxon Ave Spartanburg, SC	3.0	1.0	1014	$1,300	$1.28	20d	1	0.70mi
121 Garner Rd Spartanburg, SC	1.0–2.0	1.0–2.0	940	$1,465	$1.56	20d	32	1.00mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$1,982	$1.72	13d	32	1.01mi
142 Magnolia St Unit 104 Spartanburg, SC	1.0	1.0	892	$1,600	$1.79	20d	1	1.06mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	20d	1	1.06mi
196 Silver Hill St Spartanburg, SC	3.0	3.0	1492	$1,900	$1.27	20d	1	1.19mi
149 S Daniel Morgan Ave Unit 2B Spartanburg, SC	1.0	1.0	750	$1,195	$1.59	20d	1	1.22mi
149 S Daniel Morgan Ave Unit 2A Spartanburg, SC	1.0	1.0	800	$1,150	$1.44	20d	1	1.22mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	13d	8	1.24mi
321 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	20d	1	1.40mi
317 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	20d	1	1.40mi
692 Southern St Spartanburg, SC	2.0	1.0	1000	$1,100	$1.10	13d	1	1.43mi
275 Vanderbilt Spartanburg, SC	3.0	2.5	1300	$1,495	$1.15	13d	1	1.46mi
267 Vanderbilt Rd Spartanburg, SC	3.0	2.5	1300	$1,795	$1.38	20d	1	1.47mi

Listing history 16 events

1. 2026-06-18
   days on market $144,900 Active 89 DOM
2. 2026-06-17
   days on market $144,900 Active 88 DOM
3. 2026-06-16
   days on market $144,900 Active 87 DOM
4. 2026-06-15
   days on market $144,900 Active 86 DOM
5. 2026-06-14
   days on market $144,900 Active 84 DOM
6. 2026-06-13
   days on market $144,900 Active 83 DOM
7. 2026-06-10
   days on market $144,900 Active 81 DOM
8. 2026-06-09
   days on market $144,900 Active 80 DOM
9. 2026-06-08
   days on market $144,900 Active 79 DOM
10. 2026-06-07
    days on market $144,900 Active 78 DOM
11. 2026-06-02
    days on market $144,900 Active 73 DOM
12. 2026-06-01
    days on market $144,900 Active 72 DOM
13. 2026-05-31
    days on market $144,900 Active 71 DOM
14. 2026-05-30
    days on market $144,900 Active 70 DOM
15. 2026-04-08
    price $144,900
16. 2026-03-21
    listed $149,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $998 · $83/mo
• Projected year-2 tax: $998 · $83/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,741
• − Mortgage interest: −$8,117
• − Property taxes: −$998
• − Insurance: −$724
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$4,215
• Taxable loss: −$832
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $1,794/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Spartanburg 07
• NCES district ID: 4503660
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $35,825
• Composite: 31.04/100
• National rank: #6087
• State rank: #39 of 80 in SC

Livability — Spartanburg

• Score: 76/100
• State rank: #24
• US rank: #3679

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spartanburg, SC
• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 28,381
• Household income: $48,295
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1218.0

Population outlook (Spartanburg County) Hauer SSP2

• Today (2025): 325,495 people
• By 2030: 338,800 · +4.1%
• By 2040: 363,471 · +11.7%
• By 2050: 384,156 · +18.0%
• By 2075: 430,137 · +32.1%
• By 2100: 442,733 · +36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 42% Black 36% Hispanic / Latino 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Subsaharan African 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Spartanburg

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.2%
• 2008→2024 swing: -12.0pp toward R · 2008: -21.6pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+27.3 2016: R+30.0 2012: R+23.1 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.19%
• Current HPI: 274.443
• Rent YoY: ▲ 3.69%
• Metro: Spartanburg, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-3.3% since first listed

2 events — show timeline

• 2026-04-08 Price Changed $144,900 SPMLS
• 2026-03-21 Listed $149,900 SPMLS

Property tax history

-2.0%/yr

Latest (2025): $998 · +1.2% YoY. Source: county tax records.