TRU Oak Plan · Greer, SC 29651

$115,000

4 bd · 2.0 ba · 1,475 sqft · SingleFamily · 99 Days on market

Excellent condition $500/mo HOA · 26% of rent

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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 +24.0/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

The Oak is ranch-style living at its finest - thoughtfully designed, effortlessly functional, and move-in ready. Spanning 1,475 square feet across a 28' × 56' layout, this 4-bedroom, 2-bathroom home offers the perfect blend of open, airy gathering spaces and private retreat. The split floorplan keeps the master suite tucked away from the secondary bedrooms, giving everyone their own corner of comfort. The master bathroom is a true showstopper - unwind in the spa-style soaking tub or step into a closet so spacious, you'll wonder how you ever lived without it. Meanwhile, the open-concept living area flows seamlessly through sliding glass doors to a generous back deck, perfect for mornin

Key facts

• Sliding glass doors
• Master bathroom
• Spacious closet

Tags

• MASTER BATHROOM
• SPA STYLE SOAKING TUB
• SPACIOUS CLOSET
• OPEN CONCEPT LIVING AREA
• SLIDING GLASS DOORS
• GENEROUS BACK DECK

Property features AI

Finance

• Other: Address: Greer, SC (3900 Lamplighter Dr shown as mapping/address info); List price shown (115000)
• HOA & community: Association fee listed (500)

Exterior

• Utilities: Electric service; Central air conditioning
• Home design: Single family plan home (TRU Oak)
• Construction: Living area approximately 1,475 (listed); New construction plan
• Exterior features: Shake roof

Interior

• Bedrooms: Four bedrooms total
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: Plan home (TRU Oak plan); 4 bedrooms; 2 bathrooms

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.2% in Greer — 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 81/100 on livability (#7 in SC, #1,463 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 503 active listings in the ZIP; solid renter incomes; 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 $795 of loan paydown is wiped out by about $3k 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 99 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• 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 $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.67% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.42%
• DSCR: 1.37
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.62% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.80×
• Total profit: $-6,547
• Equity at exit: $17,147

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $3,670
• Equity at exit: $9,943

Cash invested: $32,200 (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 29651

• Home prices YoY: -29.4%
• Rents YoY: 1.6%
• Active inventory: 503
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,925 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$500
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $226

Break-even live

Break-even rent $1,639

Max offer price $115,000

Occupancy floor 83%

Sensitivity live

Price	-10% $305	-5% $266	+0% $226	+5% $186	+10% $146
Rent	-10% $74	-5% $150	+0% $226	+5% $302	+10% $378
Rate	-1.0pp $284	-0.5pp $255	base $226	+0.5pp $196	+1.0pp $166

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 14 events

1. 2026-06-18
   days on market $115,000 Active 99 DOM
2. 2026-06-17
   days on market $115,000 Active 98 DOM
3. 2026-06-16
   days on market $115,000 Active 97 DOM
4. 2026-06-15
   days on market $115,000 Active 96 DOM
5. 2026-06-14
   days on market $115,000 Active 94 DOM
6. 2026-06-13
   days on market $115,000 Active 93 DOM
7. 2026-06-10
   days on market $115,000 Active 91 DOM
8. 2026-06-09
   days on market $115,000 Active 90 DOM
9. 2026-06-08
   days on market $115,000 Active 89 DOM
10. 2026-06-07
    days on market $115,000 Active 88 DOM
11. 2026-06-02
    days on market $115,000 Active 83 DOM
12. 2026-06-01
    days on market $115,000 Active 82 DOM
13. 2026-05-31
    days on market $115,000 Active 81 DOM
14. 2026-05-30
    days on market $115,000 Active 80 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,098
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − HOA: −$6,000
• − Depreciation: −$3,345
• Taxable income: $1,315
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $2,395/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.

Condition & rehab AI · 14 photos

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs or maintenance needed. It is move-in ready and has the potential to be further enhanced with landscaping and curb appeal.

Value-add opportunities

• Both Landscaping and curb appeal — A well-maintained landscape and curb appeal can enhance both the resale and rental value of the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — A well-maintained landscape and curb appeal can enhance both the resale and rental value of the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Spartanburg 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

Livability — Greer

• Score: 81/100
• State rank: #7
• US rank: #1463

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greenville County · 573,815 people
• City population: 129
• Metro: Greenville-Anderson, SC
• Population (ZIP): 56,599
• Household income: $82,705
• Rent vs Own: 19.2% rent · 80.8% own
• Severe rent burden: 720.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Black 11% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -101.81%
• Current HPI: 243.9051
• Rent YoY: ▲ 1.62%
• 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