111 Adair Dr · Saxon, SC 29301

$160,500

2 bd · 1.0 ba · 1,456 sqft · SingleFamily public records · 26 Days on market

Built 1966 Est $194k · 17% under

---

Why this score? — see what drove the D+ 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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +3.3/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

2BR/1 bath home full of character and charm. Home has a sunken living room, large kitchen with ample cabinet space. There is a flex room that could be an additional bedroom, game room, family room etc. Home has been updated with new paint, new flooring, new fixtures, new lights and ceiling fans.

Key facts

• New flooring
• Sunken living room
• New paint

Tags

• SUNKEN LIVING ROOM
• LARGE KITCHEN
• AMPLE CABINET SPACE
• FLEX ROOM
• NEW PAINT
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $73 ($878/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 $133k (17.3% below list).
• Recommended offer: $133k (17.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#132 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: amenities D+, commute 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: Dorman High (math 46% / reading 78%, grade B-, #99 of 196 statewide, top 53%, 3,808 students, 75% FRL) — zoned schools average 75% FRL vs 48% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 62% at this address vs 38% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Spartanburg 06 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-2.6%/yr); 465 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 26 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $22k; list at $160k implies a 613% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,762 (17.3% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.83% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $193,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Robinsview Ln	0.32mi	2/1.0	1,438 (-1%)	11mo	$150,000	$104	74
125 Case Ave	0.12mi	2/1.0	1,260 (-14%)	2mo	$129,900	$103	70
105 Anderson St	0.33mi	2/1.0	1,368 (-6%)	8mo	$150,000	$110	67
565 Saxon Ave	0.70mi	3/2.0 (+1)	1,480 (+2%)	4mo	$194,000	$131	52
3 Robinsview Ln	0.31mi	3/2.0 (+1)	1,255 (-14%)	5mo	$224,900	$179	50
605 Ethel Rd	0.58mi	3/2.0 (+1)	1,579 (+8%)	2mo	$201,000	$127	48
52 Ross Rd	0.18mi	3/2.0 (+1)	1,260 (-14%)	16mo	$115,000	$91	47
212 Michael St	0.60mi	3/2.0 (+1)	1,348 (-7%)	10mo	$235,150	$174	43
651 S Center St	0.61mi	3/2.0 (+1)	1,242 (-15%)	3mo	$225,000	$181	35
214 Michael St	0.59mi	3/2.0 (+1)	1,310 (-10%)	14mo	$259,900	$198	35
1 Northstar St	0.49mi	3/2.0 (+1)	1,255 (-14%)	14mo	$192,000	$153	33
122 Harmony Dr	0.62mi	3/2.0 (+1)	1,326 (-9%)	19mo	$176,000	$133	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.44×
• Total profit: $-25,301
• Equity at exit: $23,931

10-year hold

• IRR: -13.7%
• Equity multiple: 0.30×
• Total profit: $-31,320
• Equity at exit: $13,877

Cash invested: $44,940 (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 29301

• Home prices YoY: -25.3%
• Rents YoY: -2.6%
• Active inventory: 465
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$842
• Tax from tax record: −$67 /mo · $805/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $73

Break-even live

Break-even rent $1,235

Max offer price $160,500

Occupancy floor 89%

Sensitivity live

Price	-10% $164	-5% $119	+0% $73	+5% $28	+10% $-18
Rent	-10% $-32	-5% $21	+0% $73	+5% $126	+10% $178
Rate	-1.0pp $154	-0.5pp $114	base $73	+0.5pp $32	+1.0pp $-11

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: $40,125
• Closing costs: $4,815
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
694 Saxon Ave Spartanburg, SC	3.0	1.0	1014	$1,300	$1.28	23d	1	0.36mi
317 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	23d	1	0.54mi
321 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	23d	1	0.55mi
32 Beverly Hills Spartanburg, SC	3.0	2.5	1368	$1,425	$1.04	15d	1	0.61mi
30 Beverly Hills Dr Spartanburg, SC	3.0	2.5	1368	$1,575	$1.15	23d	1	0.62mi
100 Vanderbilt Ln Spartanburg, SC	1.0–2.0	1.0–2.0	787	$1,195	$1.52	23d	1	0.80mi
275 Vanderbilt Spartanburg, SC	3.0	2.5	1300	$1,495	$1.15	15d	1	0.84mi
267 Vanderbilt Rd Spartanburg, SC	3.0	2.5	1300	$1,795	$1.38	23d	1	0.84mi
235 Vanderbilt Rd Spartanburg, SC	3.0	2.5	1300	$1,844	$1.42	23d	1	0.87mi
408 Abner Rd Spartanburg, SC	2.0–3.0	2.0	996	$1,290	$1.29	23d	6	0.90mi
753A Leonard St Spartanburg, SC	2.0	1.0	1130	$1,185	$1.05	15d	1	0.91mi
488 Brawley St Unit B Spartanburg, SC	3.0	2.5	1200	$1,300	$1.08	15d	1	1.11mi
327 College St Unit A Spartanburg, SC	1.0	1.0	930	$950	$1.02	23d	1	1.13mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	23d	1	1.22mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,292	$1.29	15d	1	1.22mi
515 Howard St Spartanburg, SC	3.0–4.0	2.5–3.5	1729	$1,930	$1.12	15d	70	1.25mi
201 Powell Mill Rd Spartanburg, SC	1.0–3.0	1.0–2.0	1426	$1,038	$0.73	15d	23	1.40mi

Listing history 19 events

1. 2026-06-22
   days on market $160,500 Active 26 DOM
2. 2026-06-18
   days on market $160,500 Active 23 DOM
3. 2026-06-17
   days on market $160,500 Active 22 DOM
4. 2026-06-16
   days on market $160,500 Active 21 DOM
5. 2026-06-15
   days on market $160,500 Active 20 DOM
6. 2026-06-14
   days on market $160,500 Active 18 DOM
7. 2026-06-13
   days on market $160,500 Active 17 DOM
8. 2026-06-10
   days on market $160,500 Active 15 DOM
9. 2026-06-09
   days on market $160,500 Active 14 DOM
10. 2026-06-08
    days on market $160,500 Active 13 DOM
11. 2026-06-07
    days on market $160,500 Active 12 DOM
12. 2026-06-02
    days on market $160,500 Active 7 DOM
13. 2026-06-01
    days on market $160,500 Active 6 DOM
14. 2026-05-31
    days on market $160,500 Active 5 DOM
15. 2026-05-30
    days on market $160,500 Active 4 DOM
16. 2026-05-26
    listed $160,500 Active
17. 2003-11-18
    soldstatus $22,500
18. 2003-11-01
    soldstatus $22,500
19. 2003-10-03
    listed $29,900

ⓘ 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: $805 · $67/mo
• Projected year-2 tax: $915 · $76/mo
• Expected delta: +$110/yr (+$9/mo · 13.6%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $15,931
• − Mortgage interest: −$8,990
• − Property taxes: −$805
• − Insurance: −$802
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$4,669
• Taxable loss: −$1,885
• Est. tax savings @ 24.0%: +$452
• After-tax cash flow: $1,330/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 — Saxon

• Score: 65/100
• State rank: #132
• US rank: #12957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saxon, SC
• County: Spartanburg County · 258,607 people
• City population: 126
• Metro: Spartanburg, SC
• Population (ZIP): 36,278
• Household income: $57,805
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1331.0

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 45% Black 32% Hispanic / Latino 13% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 83% English-only · Spanish 10% Other Indo-European 3% 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: ▼ -77.19%
• Current HPI: 228.4172
• Rent YoY: ▼ -2.64%
• 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

+436.8% since first listed

4 events — show timeline

• 2026-05-26 Listed $160,500 FSBO.com
• 2003-11-18 Sold (MLS) $22,500 SPMLS
• 2003-11-01 Sold (Public Records) $22,500 Public Records
• 2003-10-03 Listed $29,900 SPMLS

Property tax history

+3.0%/yr

Latest (2025): $805 · +1.5% YoY. Source: county tax records.