6408 Greenfield Dr · Southern Shops, SC 29303

$200,000

3 bd · 2.0 ba · 2,128 sqft · Manufactured public records · 41 Days on market

Built 2006 0.59 ac lot

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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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This house has a large great room with a beautiful gas log fireplace.

Key facts

• Open floor plan
• 16x16 deck
• Front porch

Tags

• CIRCULAR DRIVEWAY
• FULLY FENCED YARD
• 16X16 DECK
• FRONT PORCH
• OPEN FLOOR PLAN
• GAS LOG FIREPLACE

Property features AI

Finance

• HOA & community: No community features listed

Exterior

• Parking: Circular driveway; Driveway
• Security: Smoke detectors
• Utilities: Private water; Septic tank; Underground utilities; Cable available
• Home design: Residential mobile home (double wide); One level
• Construction: Vinyl siding; Composition roof
• Exterior features: Deck; Porch; Fenced yard; Outbuilding

Interior

• Kitchen: Dishwasher; Electric oven; Electric water heater
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central air; Heat pump; Electric cooling; Electric heating; Forced air; Active solar
• Interior features: Walk-in closets; Bookcases; Open floorplan; Window treatments; Gas log fireplace
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/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 $185k (7.4% below list).
• Recommended offer: $185k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.7% in Southern Shops — 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 65/100 on livability (#127 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute C-, amenities F, employment F.
• Spartanburg 06 (suburban): math 33% / reading 42% proficiency, ranked #35 of 80 in SC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Arcadia Elementary (math 20% / reading 18%, grade F, #505 of 597 statewide, top 85%, 373 students, 100% FRL); Fairforest Middle (math 19% / reading 27%, grade F, #171 of 229 statewide, top 76%, 1,054 students, 100% FRL); Dorman High (math 46% / reading 78%, grade B-, #99 of 196 statewide, top 53%, 3,808 students, 75% FRL) — zoned schools average 92% FRL vs 48% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 378 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• At $1,853/mo this rent would consume 46% of the median local household income ($48k/yr) (locally 1218% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 41 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,258 (7.4% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-15,912
• Equity at exit: $29,821

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $10,915
• Equity at exit: $17,292

Cash invested: $56,000 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,853 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $240

Break-even live

Break-even rent $1,549

Max offer price $200,000

Occupancy floor 82%

Sensitivity live

Price	-10% $353	-5% $296	+0% $240	+5% $183	+10% $127
Rent	-10% $93	-5% $167	+0% $240	+5% $313	+10% $386
Rate	-1.0pp $340	-0.5pp $291	base $240	+0.5pp $188	+1.0pp $135

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1056 Castlen Ct Spartanburg, SC	3.0–4.0	2.0–2.5	1850	$1,733	$0.94	15d	1	0.59mi
693 Grays Creek Rd Spartanburg, SC	4.0	3.0	2200	$2,050	$0.93	22d	1	0.88mi

Listing history 15 events

1. 2026-05-22
   status Pending
2. 2026-05-02
   price $200,000
3. 2026-04-11
   listed $215,000 Active
4. 2020-01-13
   soldstatus $140,000
5. 2020-01-07
   soldstatus $140,000 Sold CO-OP Non Member 69-char remark

   Show marketing remark (69 chars)

   This house has a large great room with a beautiful gas log fireplace.

6. 2019-11-27
   historical Sale with Right of Refusal 69-char remark

   Show marketing remark (69 chars)

   This house has a large great room with a beautiful gas log fireplace.

7. 2019-11-21
   listed $139,900 Active 69-char remark

   Show marketing remark (69 chars)

   This house has a large great room with a beautiful gas log fireplace.

8. 2014-11-10
   soldstatus $102,000
9. 2014-11-07
   soldstatus $102,000 1765-char remark

   Show marketing remark (1765 chars)

   WOW! What a great Home!! Lots of open square footage. .. makes this home seem so spacious and airy! Larges great-room with gas burning stacked stone fireplace, built in bookshelves and cabinets & plenty of room to move about. Dining & kitchen area open to great-room. Kitchen features plenty of counter space and cabinets. Good size walk in pantry. Center island with cabinets and high bar top that can accomadate up to 5 bar stools. Dining area is open to kitchen and great room. .. over looks large fenced back yard. Lots of windows throughout this home. .. .allows plenty of happy sunshine to beam in on those sunny days! This home offers two living spaces. .. .living room as you enter the front door. .. is large in size. .. .offers coat closet, built in decorative shelving and scabbiness. .. and large windows. As yous troll down the hall a built in desk area for all your business needs with great lighting. Walk in laundry room with cabinets. Secondary bedrooms are large in size with big closets. .. also features jack/jill bath. Master bedroom offer large walk-in closet. .. ladies dream!! Bedroom is large enough to accomadate king size furniture. Master suite offers garden tub, separate shower, duel vanity, cabinets and drawers, linen closet and a good size window to allow the natural light to beam in. Home sits on close to an acre. .. backyard is has 2 separate fencing area. .. one for perhaps children and pets. .. .. .the other in the back. .. livestock. Great place to have a horse. .. even a garden! Two storage buildings convey with property. Larger building has power. Circular driveway makes it easy for guest. .. double carport for your cars. Great location. .. close to interstate 26 & 85.. .plus shopping and schools.

10. 2014-11-07
    soldstatus $102,000

    Show marketing remark (1765 chars)

    WOW! What a great Home!! Lots of open square footage. .. makes this home seem so spacious and airy! Larges great-room with gas burning stacked stone fireplace, built in bookshelves and cabinets & plenty of room to move about. Dining & kitchen area open to great-room. Kitchen features plenty of counter space and cabinets. Good size walk in pantry. Center island with cabinets and high bar top that can accomadate up to 5 bar stools. Dining area is open to kitchen and great room. .. over looks large fenced back yard. Lots of windows throughout this home. .. .allows plenty of happy sunshine to beam in on those sunny days! This home offers two living spaces. .. .living room as you enter the front door. .. is large in size. .. .offers coat closet, built in decorative shelving and scabbiness. .. and large windows. As yous troll down the hall a built in desk area for all your business needs with great lighting. Walk in laundry room with cabinets. Secondary bedrooms are large in size with big closets. .. also features jack/jill bath. Master bedroom offer large walk-in closet. .. ladies dream!! Bedroom is large enough to accomadate king size furniture. Master suite offers garden tub, separate shower, duel vanity, cabinets and drawers, linen closet and a good size window to allow the natural light to beam in. Home sits on close to an acre. .. backyard is has 2 separate fencing area. .. one for perhaps children and pets. .. .. .the other in the back. .. livestock. Great place to have a horse. .. even a garden! Two storage buildings convey with property. Larger building has power. Circular driveway makes it easy for guest. .. double carport for your cars. Great location. .. close to interstate 26 & 85.. .plus shopping and schools.

11. 2014-09-23
    historical
12. 2014-09-02
    listed $109,900 1765-char remark

    Show marketing remark (1765 chars)

    WOW! What a great Home!! Lots of open square footage. .. makes this home seem so spacious and airy! Larges great-room with gas burning stacked stone fireplace, built in bookshelves and cabinets & plenty of room to move about. Dining & kitchen area open to great-room. Kitchen features plenty of counter space and cabinets. Good size walk in pantry. Center island with cabinets and high bar top that can accomadate up to 5 bar stools. Dining area is open to kitchen and great room. .. over looks large fenced back yard. Lots of windows throughout this home. .. .allows plenty of happy sunshine to beam in on those sunny days! This home offers two living spaces. .. .living room as you enter the front door. .. is large in size. .. .offers coat closet, built in decorative shelving and scabbiness. .. and large windows. As yous troll down the hall a built in desk area for all your business needs with great lighting. Walk in laundry room with cabinets. Secondary bedrooms are large in size with big closets. .. also features jack/jill bath. Master bedroom offer large walk-in closet. .. ladies dream!! Bedroom is large enough to accomadate king size furniture. Master suite offers garden tub, separate shower, duel vanity, cabinets and drawers, linen closet and a good size window to allow the natural light to beam in. Home sits on close to an acre. .. backyard is has 2 separate fencing area. .. one for perhaps children and pets. .. .. .the other in the back. .. livestock. Great place to have a horse. .. even a garden! Two storage buildings convey with property. Larger building has power. Circular driveway makes it easy for guest. .. double carport for your cars. Great location. .. close to interstate 26 & 85.. .plus shopping and schools.

13. 2014-08-31
    listed $109,900
14. 1998-04-01
    soldstatus $59,400
15. 1996-12-01
    soldstatus $4,932,038

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$41/yr (+$3/mo · 3.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,231
• − Mortgage interest: −$11,203
• − Property taxes: −$1,099
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$5,818
• Taxable loss: −$447
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $2,984/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 06
• NCES district ID: 4503630
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $46,110
• Composite: 32.02/100
• National rank: #5827
• State rank: #35 of 80 in SC

Livability — Southern Shops

• Score: 65/100
• State rank: #127
• US rank: #12446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• 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

-95.9% since first listed

15 events — show timeline

• 2026-05-22 Pending — SPMLS
• 2026-05-02 Price Changed $200,000 SPMLS
• 2026-04-11 Listed $215,000 SPMLS
• 2020-01-13 Sold (Public Records) $140,000 Public Records
• 2020-01-07 Sold (MLS) $140,000 SPMLS
• 2019-11-27 Contingent — SPMLS
• 2019-11-21 Listed $139,900 SPMLS
• 2014-11-10 Sold (Public Records) $102,000 Public Records
• 2014-11-07 Sold (MLS) $102,000 Greater Greenville MLS
• 2014-11-07 Sold (MLS) $102,000 SPMLS
• 2014-09-23 Listing Removed — Greater Greenville MLS
• 2014-09-02 Listed $109,900 SPMLS
• 2014-08-31 Listed $109,900 Greater Greenville MLS
• 1998-04-01 Sold (Public Records) $59,400 Public Records
• 1996-12-01 Sold (Public Records) $4,932,038 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,099 · +0.9% YoY. Source: county tax records.