685 Southern St · Spartanburg, SC 29303

$165,000

2 bd · 1.0 ba · 939 sqft · SingleFamily public records · 24 Days on market

Built 1920 0.33 ac lot Est $163k · at est.

---

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 +13.0/30.0
• ARV discount +7.1/15.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to Beaumont Mill Village living in the heart of Spartanburg! This charming, 2 bedroom, 2 bathroom home offers comfort, convenience, and outdoor space to enjoy. Inside, you’ll find a functional layout with inviting living spaces and plenty of natural light. Step outside to a large, newer back deck overlooking the fenced backyard; perfect for entertaining, pets, gardening, or relaxing evenings at home. Located within Spartanburg city limits, this home is just a short walk to the community playground and offers easy access to shopping, dining, schools, and downtown Spartanburg. Whether you’re a first time buyer, downsizing, or looking for an investment opportunity, this home is full of potential and ready for its next owner!

Key facts

• Community playground
• Fenced backyard
• 0.33 acre lot

Tags

• LARGE NEWER BACK DECK
• FENCED BACKYARD
• COMMUNITY PLAYGROUND
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO SCHOOLS

Property features AI

Finance

• Other: Lead-based paint and residential property disclosures required
• HOA & community: No HOA fees; Community playground available

Exterior

• Parking: Driveway parking (gravel)
• Utilities: Public water; Public sewer; Public garbage pickup; Power: electric
• Home design: Single-story residential property; Approximately 50+ years old; Crawl space foundation
• Construction: Vinyl siding exterior; Composition shingle roof
• Exterior features: Front porch; Deck; Some storm doors; Fenced, level yard; Outbuilding for storage

Interior

• Kitchen: Kitchen approx. 15 x 10; Dishwasher; Electric oven / standalone electric range
• Bedrooms: 2 bedrooms on the main level; Primary bedroom with full bath on main level (approx. 15 x 10); Second bedroom approx. 14 x 14
• Flooring: Laminate flooring; Luxury vinyl tile/plank
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric heating with heat pump; Electric cooling with heat pump; Electric water heater
• Interior features: Cable available; Smooth ceilings; Smoke detector; Laminate countertops; Window treatments remain; No fireplace
• Laundry & utility: First-floor laundry with walk-in area; Washer connection; Dryer electric hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-8 ($-100/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (19.8% below list).
• Recommended offer: $132k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Drayton Mills Elementary (math 20% / reading 22%, grade F, #488 of 597 statewide, top 82%, 751 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 38% district-wide (-16 pts) — the specific schools serving this property underperform the Spartanburg 07 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 378 active listings in the ZIP; 26 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 24 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $110k; list at $165k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $132,253 (19.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.80% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $163,386
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
651 Maywood St	0.08mi	2/1.0	939 (0%)	5mo	$182,000	$194	92
437 Sloan St	0.16mi	2/1.0	932 (-1%)	7mo	$115,000	$123	86
791 Southern St	0.20mi	2/1.0	975 (+4%)	1mo	$189,999	$195	83
456 N Fairview Ave	0.07mi	2/1.0	1,024 (+9%)	4mo	$186,000	$182	78
396 Kingston St	0.09mi	2/1.0	1,044 (+11%)	1mo	$42,000	$40	77
760 N Liberty St	0.22mi	2/1.0	858 (-9%)	3mo	$175,000	$204	73
426 Gentry St	0.22mi	2/1.5	1,006 (+7%)	4mo	$189,900	$189	72
260 N Dean St	0.65mi	2/1.0	960 (+2%)	8mo	$80,000	$83	60
469 Barnwell Rd	0.56mi	2/1.0	1,026 (+9%)	2mo	$165,000	$161	57
304 Spruce St	0.60mi	3/2.0 (+1)	950 (+1%)	6mo	$108,000	$114	56
121 Phifer Dr	0.31mi	2/1.0	803 (-14%)	8mo	$140,000	$174	55
513 Beverly Rd	0.69mi	3/1.5 (+1)	840 (-10%)	5mo	$80,000	$95	39

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-26,376
• Equity at exit: $24,602

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-19,939
• Equity at exit: $14,266

Cash invested: $46,200 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$865
• Tax from tax record: −$119 /mo · $1,429/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-8

Break-even live

Break-even rent $1,333

Max offer price $163,531

Occupancy floor 96%

Sensitivity live

Price	-10% $85	-5% $38	+0% $-8	+5% $-55	+10% $-102
Rent	-10% $-113	-5% $-61	+0% $-8	+5% $44	+10% $96
Rate	-1.0pp $75	-0.5pp $34	base $-8	+0.5pp $-51	+1.0pp $-95

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
692 Southern St Spartanburg, SC	2.0	1.0	1000	$1,100	$1.10	15d	1	0.04mi
152 Avant St Unit A Spartanburg, SC	2.0	1.0	850	$1,250	$1.47	15d	1	0.54mi
152 Avant St Unit B Spartanburg, SC	1.0	1.0	750	$1,450	$1.93	22d	1	0.54mi
135 Oakwood Ave Spartanburg, SC	1.0–2.0	1.0–1.5	850	$995	$1.17	22d	2	0.58mi
225 Milliken St Spartanburg, SC	1.0–3.0	1.0–2.0	1020	$1,729	$1.70	15d	20	0.60mi
200 Heywood Ave Spartanburg, SC	1.0–2.0	1.0–2.0	829	$1,425	$1.72	15d	14	0.62mi
701 E Main St Spartanburg, SC	1.0	1.0	525	$960	$1.83	15d	2	0.66mi
121 Garner Rd Spartanburg, SC	1.0–2.0	1.0–2.0	940	$1,465	$1.56	22d	32	0.67mi
320 Spruce St Spartanburg, SC	1.0–3.0	1.0–1.5	830	$962	$1.16	22d	1	0.75mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$1,982	$1.72	15d	32	0.77mi
103 Drayton Crossing Dr Drayton, SC	1.0–2.0	1.0–2.0	1054	$1,728	$1.64	15d	21	0.90mi
1000 E Main St Spartanburg, SC	2.0	1.5	938	$950	$1.01	15d	2	0.97mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	15d	8	0.99mi
327 E Kennedy St Spartanburg, SC	1.0–2.0	1.0–2.0	806	$1,654	$2.05	15d	7	0.99mi
142 Magnolia St Unit 101 Spartanburg, SC	1.0	1.0	680	$1,400	$2.06	22d	1	1.02mi
3900 Taggart Dr Spartanburg, SC	1.0–3.0	1.0–2.0	854	$1,148	$1.34	22d	3	1.07mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	22d	1	1.07mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	22d	1	1.14mi
142 Magnolia St Unit 104 Spartanburg, SC	1.0	1.0	892	$1,600	$1.79	22d	1	1.14mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	22d	1	1.20mi
600 Magnolia St Unit G8 Spartanburg, SC	1.0	1.0	617	$1,250	$2.03	22d	1	1.24mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,292	$1.29	15d	1	1.27mi
149 S Daniel Morgan Ave Unit 2A Spartanburg, SC	1.0	1.0	800	$1,150	$1.44	22d	1	1.32mi
149 S Daniel Morgan Ave Unit 2B Spartanburg, SC	1.0	1.0	750	$1,195	$1.59	22d	1	1.32mi
327 College St Unit A Spartanburg, SC	1.0	1.0	930	$950	$1.02	22d	1	1.44mi
119 Bonner Rd Spartanburg, SC	2.0	1.0	900	$845	$0.94	22d	1	1.49mi

Listing history 22 events

1. 2026-06-21
   days on market $165,000 Active 24 DOM
2. 2026-06-18
   days on market $165,000 Active 21 DOM
3. 2026-06-17
   days on market $165,000 Active 20 DOM
4. 2026-06-16
   days on market $165,000 Active 19 DOM
5. 2026-06-15
   days on market $165,000 Active 18 DOM
6. 2026-06-14
   days on market $165,000 Active 16 DOM
7. 2026-06-13
   days on market $165,000 Active 15 DOM
8. 2026-06-10
   days on market $165,000 Active 13 DOM
9. 2026-06-09
   days on market $165,000 Active 12 DOM
10. 2026-06-08
    days on market $165,000 Active 11 DOM
11. 2026-06-07
    days on market $165,000 Active 10 DOM
12. 2026-06-02
    days on market $165,000 Active 5 DOM
13. 2026-06-01
    days on market $165,000 Active 4 DOM
14. 2026-05-31
    days on market $165,000 Active 3 DOM
15. 2026-05-30
    days on market $165,000 Active 2 DOM
16. 2026-05-28
    listed $165,000 Active

    Show marketing remark (756 chars)

    Welcome home to Beaumont Mill Village living in the heart of Spartanburg! This charming, 2 bedroom, 2 bathroom home offers comfort, convenience, and outdoor space to enjoy. Inside, you’ll find a functional layout with inviting living spaces and plenty of natural light. Step outside to a large, newer back deck overlooking the fenced backyard; perfect for entertaining, pets, gardening, or relaxing evenings at home. Located within Spartanburg city limits, this home is just a short walk to the community playground and offers easy access to shopping, dining, schools, and downtown Spartanburg. Whether you’re a first time buyer, downsizing, or looking for an investment opportunity, this home is full of potential and ready for its next owner!

17. 2026-05-28
    listed $165,000 Active 756-char remark

    Show marketing remark (756 chars)

    Welcome home to Beaumont Mill Village living in the heart of Spartanburg! This charming, 2 bedroom, 2 bathroom home offers comfort, convenience, and outdoor space to enjoy. Inside, you’ll find a functional layout with inviting living spaces and plenty of natural light. Step outside to a large, newer back deck overlooking the fenced backyard; perfect for entertaining, pets, gardening, or relaxing evenings at home. Located within Spartanburg city limits, this home is just a short walk to the community playground and offers easy access to shopping, dining, schools, and downtown Spartanburg. Whether you’re a first time buyer, downsizing, or looking for an investment opportunity, this home is full of potential and ready for its next owner!

18. 2021-03-24
    soldstatus $109,900 Sold CO-OP Member 377-char remark

    Show marketing remark (377 chars)

    Come see this completely renovated 2 bed 2 bath in Spartanburg, South Carolina! This home as all new electrical wiring, newer HVAC, new flooring, brand new roof, fresh paint, and fenced yard. This home is conveniently located to Downtown Spartanburg, I-85, and I-26. Around the corner from the house there is a coffee shop and a few restaurants. Come check out this home today!

19. 2021-03-24
    soldstatus $109,900

    Show marketing remark (377 chars)

    Come see this completely renovated 2 bed 2 bath in Spartanburg, South Carolina! This home as all new electrical wiring, newer HVAC, new flooring, brand new roof, fresh paint, and fenced yard. This home is conveniently located to Downtown Spartanburg, I-85, and I-26. Around the corner from the house there is a coffee shop and a few restaurants. Come check out this home today!

20. 2021-02-26
    status Pending 377-char remark

    Show marketing remark (377 chars)

    Come see this completely renovated 2 bed 2 bath in Spartanburg, South Carolina! This home as all new electrical wiring, newer HVAC, new flooring, brand new roof, fresh paint, and fenced yard. This home is conveniently located to Downtown Spartanburg, I-85, and I-26. Around the corner from the house there is a coffee shop and a few restaurants. Come check out this home today!

21. 2021-02-24
    price $109,900 377-char remark

    Show marketing remark (377 chars)

    Come see this completely renovated 2 bed 2 bath in Spartanburg, South Carolina! This home as all new electrical wiring, newer HVAC, new flooring, brand new roof, fresh paint, and fenced yard. This home is conveniently located to Downtown Spartanburg, I-85, and I-26. Around the corner from the house there is a coffee shop and a few restaurants. Come check out this home today!

22. 2021-02-23
    listed $109,000 Active 377-char remark

    Show marketing remark (377 chars)

    Come see this completely renovated 2 bed 2 bath in Spartanburg, South Carolina! This home as all new electrical wiring, newer HVAC, new flooring, brand new roof, fresh paint, and fenced yard. This home is conveniently located to Downtown Spartanburg, I-85, and I-26. Around the corner from the house there is a coffee shop and a few restaurants. Come check out this home today!

ⓘ 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: $1,429 · $119/mo
• Projected year-2 tax: $1,429 · $119/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: $15,870
• − Mortgage interest: −$9,243
• − Property taxes: −$1,429
• − Insurance: −$825
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$4,800
• Taxable loss: −$2,966
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $612/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

+51.4% since first listed

7 events — show timeline

• 2026-05-28 Listed $165,000 SPMLS
• 2026-05-28 Listed $165,000 Greater Greenville MLS
• 2021-03-24 Sold (Public Records) $109,900 Public Records
• 2021-03-24 Sold (MLS) $109,900 SPMLS
• 2021-02-26 Pending — SPMLS
• 2021-02-24 Price Changed $109,900 SPMLS
• 2021-02-23 Listed $109,000 SPMLS

Property tax history

+20.4%/yr

Latest (2025): $1,429 · +0.7% YoY. Source: county tax records.