123 White Horse Road Ext · Gantt, SC 29605

$109,900

3 bd · 2.0 ba · 1,600 sqft · Manufactured · 100 Days on market

0.70 ac lot ↓ 45% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large investment property in the heart of Greenville , home features 3 spacious bedrooms 2 full baths , open floorplan , living room with fireplace waiting on your finishing touches

Key facts

• 0.7 acre lot
• 2 garage spots
• Listed 100 days

Property features AI

Finance

• HOA & community: No HOA fees or community amenities

Exterior

• Parking: Detached carport (2-car); Unpaved driveway
• Utilities: Public water; Septic sewer; Electric water heater; Garbage pickup: none
• Home design: Single-story home; Home age approximately 31-50 years; Crawl space foundation
• Construction: Vinyl siding exterior; Composition shingle roof
• Exterior features: Covered back porch; Other porch; Lot slopes gently; Approximately 1/2 acre lot

Interior

• Kitchen: Kitchen approximately 17 x 12
• Bedrooms: 3 bedrooms on the main level; Primary bedroom on main level, approximately 13 x 12; Second bedroom approximately 12 x 10; Third bedroom approximately 12 x 10
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric heating system; Electric cooling system
• Interior features: Open floor plan; Ceiling fan(s); Walk-in closet(s); Split floor plan; Gas log fireplace (1)
• Laundry & utility: Laundry on the 1st floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 4.1% in Gantt — 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 69/100 on livability (#73 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B+; Watch: crime D+, amenities F, employment F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robert E. Cashion Elementary (math 39% / reading 37%, grade F, #308 of 597 statewide, top 52%, 899 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 398 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• This rent runs 32% of the median local income ($66k/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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1; list at $110k implies a 10989900% gain — meaningful room to come down on a strong offer.

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 $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 14.22%
• Cash-on-cash: 28.32%
• DSCR: 2.26
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.97×
• Total profit: $29,716
• Equity at exit: $16,386

10-year hold

• IRR: 31.6%
• Equity multiple: 3.95×
• Total profit: $90,715
• Equity at exit: $9,502

Cash invested: $30,772 (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 29605

• Rents YoY: 3.7%
• Active inventory: 398
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,771 high
• Mortgage (P&I): −$576
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $726

Break-even live

Break-even rent $852

Max offer price $109,900

Occupancy floor 54%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Mayflower Ave Greenville, SC	3.0	1.0	1150	$1,245	$1.08	24d	1	0.72mi
20 Eastview Dr Greenville, SC	3.0	2.0	1299	$1,600	$1.23	24d	1	0.81mi
31 Foxhall Rd Greenville, SC	3.0	1.0	1088	$1,300	$1.19	24d	1	0.85mi
304 Harvest Hill Ln Greenville, SC	4.0	2.5	1900	$1,900	$1.00	12d	1	0.91mi
608 S Fairfield Rd Greenville, SC	3.0	2.0	1399	$1,706	$1.22	24d	1	1.09mi
32 Kay Dr Greenville, SC	3.0	1.0	1073	$1,549	$1.44	3d	1	1.29mi
9 Alpha Dr Greenville, SC	3.0	2.0	1400	$1,756	$1.25	3d	1	1.29mi

Listing history 21 events

1. 2026-06-18
   days on market $109,900 Active 100 DOM
2. 2026-06-17
   days on market $109,900 Active 99 DOM
3. 2026-06-16
   days on market $109,900 Active 98 DOM
4. 2026-06-15
   days on market $109,900 Active 97 DOM
5. 2026-06-13
   days on market $109,900 Active 95 DOM
6. 2026-06-13
   days on market $109,900 Active 94 DOM
7. 2026-06-10
   days on market $109,900 Active 92 DOM
8. 2026-06-09
   days on market $109,900 Active 91 DOM
9. 2026-06-08
   days on market $109,900 Active 90 DOM
10. 2026-06-07
    days on market $109,900 Active 89 DOM
11. 2026-06-03
    days on market $109,900 Active 85 DOM
12. 2026-06-03
    days on market $109,900 Active 84 DOM
13. 2026-06-01
    days on market $109,900 Active 83 DOM
14. 2026-05-31
    days on market $109,900 Active 82 DOM
15. 2026-05-07
    price $109,900
16. 2026-03-10
    listed $129,900 Active
17. 2026-02-21
    historical
18. 2025-11-20
    listed $129,900 Active
19. 2025-06-10
    historical
20. 2025-04-09
    listed $200,000 Active
21. 2005-11-09
    soldstatus $1

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $626 · $52/mo
• Expected delta: +$19/yr (+$2/mo · 3.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°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: $21,251
• − Mortgage interest: −$6,156
• − Property taxes: −$607
• − Insurance: −$550
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$3,197
• Taxable income: $7,341
• Est. tax owed @ 24.0%: −$1,762
• After-tax cash flow: $6,954/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Gantt

• Score: 69/100
• State rank: #73
• US rank: #8663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greenville County · 573,815 people
• Metro: Greenville-Anderson, SC
• Population (ZIP): 40,717
• Household income: $65,648
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 978.0

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 17% Two or more races 8%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Greenville

• 2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
• 2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -591.71%
• Current HPI: 231.6906
• Rent YoY: ▲ 3.72%
• Metro: Greenville-Anderson, 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

-45.1% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $109,900 Greater Greenville MLS
• 2026-03-10 Listed $129,900 Greater Greenville MLS
• 2026-02-21 Listing Removed — Greater Greenville MLS
• 2025-11-20 Listed $129,900 Greater Greenville MLS
• 2025-06-10 Listing Removed — Greater Greenville MLS
• 2025-04-09 Listed $200,000 Greater Greenville MLS
• 2005-11-09 Sold (Public Records) $1 Public Records

Property tax history

+2.7%/yr

Latest (2025): $607 · +2.0% YoY. Source: county tax records.