4054 Francis Spring Way · Boiling Springs, SC 29349

$295,995

4 bd · 3.0 ba · 2,025 sqft · Land · 113 Days on market

$38/mo HOA · 2% of rent ↓ 5% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.3/30.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to ZANES CREEK a BEAUTIFUL, NEW Home Community located in Boiling Springs/ Inman area!! Sought after Boiling Springs School system! Shopping, grocery, restaurants, I-85, I-26 all close by and more! You'll LOVE the HAZELWOOD plan with two main-level bedrooms - the primary suite with its own private bathroom, and a second bedroom with easy access to the second full bath PLUS two big additional bedrooms and a full bath upstairs! Open floorplan, great for entertaining, covered patio, gas log fireplace, tankless gas water heater, white cabinetry, quartz countertops and more! We are nestled near Lake Bowen and Woodfin Country Club with a membership includedfor1styear. A short distance to Spartanburg, Greenville, and Asheville. Quality built home by popular new home builder! This home truly has it all! * * Come Quick! * *

Key facts

• Quartz countertops
• Lake bowen
• Covered patio

Tags

• COVERED PATIO
• GAS LOG FIREPLACE
• TANKLESS GAS WATER HEATER
• WHITE CABINETRY
• QUARTZ COUNTERTOPS
• LAKE BOWEN

Property features AI

Finance

• Financial info: One-time $400 capital contribution plus $150 transfer fee
• HOA & community: Property is in an HOA; HOA covers common area electric, street lights, and enforces restrictive covenants; Community amenities include common areas and lighting

Exterior

• Parking: Attached 2-car garage with door opener; Paved driveway
• Utilities: Public water; Public sewer; Electric service (public); Private garbage pickup; Tankless gas water heater
• Home design: Two-story home; Model: Hazelwood; Under construction (approx. completion April 2026); Slab foundation
• Construction: Stone and vinyl siding; Architectural shingle roof; Slab foundation; Under construction
• Exterior features: Front porch; Covered back porch; Tilt-out windows; Thermal windows; Vinyl/aluminum trim; Stone and vinyl siding exterior; Architectural roof

Interior

• Kitchen: Dishwasher; Disposal; Gas range (stand-alone); Built-in microwave; Pantry closet; Approximate kitchen size 11 x 10
• Bedrooms: Primary bedroom on main level with double sink, walk-in closet, and shower-only (approx. 14 x 13); Second bedroom approx. 10 x 10; Third bedroom approx. 12 x 14; Fourth bedroom approx. 12 x 14; Two bedrooms located on main level
• Flooring: Carpet; Ceramic tile; Luxury vinyl tile/plank
• Bathrooms: Three full bathrooms total; Two full bathrooms on the main level
• Heating & cooling: Forced-air heating (natural gas) with damper control; Central electric forced cooling with damper control; Tankless gas water heater
• Interior features: Attic pull-down stairs; Cable available; 9-foot+ ceilings; Ceiling fans; Tray ceiling; Smoke detector; Quartz countertops; Pantry closet; Gas log fireplace (1)
• Laundry & utility: Main-level laundry room with walk-in space, washer connection, and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $296k.

Deal economics

• At list price, monthly cash flow is $-522 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (33.2% below list).
• Recommended offer: $198k (33.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#17 in SC, #2,429 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Spartanburg 02 (suburban): math 49% / reading 56% proficiency, ranked #6 of 80 in SC (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oakland Elementary (math 64% / reading 57%, grade B-, #84 of 597 statewide, top 14%, 784 students, 63% FRL) — zoned schools average 63% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 693 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• This rent runs 31% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $9k 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 113 days — a 9% lower offer ($269k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $33k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $197,625 (33.2% 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. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 4.18%
• Cash-on-cash: -7.56%
• DSCR: 0.66
• GRM: 12.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: -0.01×
• Total profit: $-83,555
• Equity at exit: $44,134

10-year hold

• IRR: -40.4%
• Equity multiple: -0.51×
• Total profit: $-124,899
• Equity at exit: $25,592

Cash invested: $82,879 (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 29349

• Home prices YoY: -31.8%
• Rents YoY: 1.8%
• Active inventory: 693
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,976 medium
• Mortgage (P&I): −$1,552
• Tax est. 1.5%: −$370 /mo · $4,440/yr
• Insurance: −$123
• HOA: −$38
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $-522

Break-even live

Break-even rent $2,637

Max offer price $220,415

Occupancy floor —

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: $73,999
• Closing costs: $8,880
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Trail Crossing Ln Inman, SC	3.0	2.0	1456	$1,899	$1.30	23d	1	0.35mi

HOA detail

• Monthly dues: $38 · $456/yr
• Likely covers: watergas

Listing history 23 events

1. 2026-06-18
   days on market $295,995 Active 113 DOM
2. 2026-06-17
   days on market $295,995 Active 112 DOM
3. 2026-06-16
   days on market $295,995 Active 111 DOM
4. 2026-06-15
   days on market $295,995 Active 110 DOM
5. 2026-06-14
   days on market $295,995 Active 108 DOM
6. 2026-06-13
   pricedays on market $295,995 Active 107 DOM
7. 2026-06-10
   days on market $299,050 Active 105 DOM
8. 2026-06-09
   days on market $299,050 Active 104 DOM
9. 2026-06-08
   days on market $299,050 Active 103 DOM
10. 2026-06-07
    days on market $299,050 Active 102 DOM
11. 2026-06-05
    days on market $299,050 Active 99 DOM
12. 2026-06-02
    days on market $299,050 Active 97 DOM
13. 2026-06-01
    days on market $299,050 Active 96 DOM
14. 2026-05-31
    days on market $299,050 Active 95 DOM
15. 2026-05-30
    days on market $299,050 Active 94 DOM
16. 2026-05-02
    price $299,050

    Show marketing remark (841 chars)

    Welcome Home to ZANES CREEK a BEAUTIFUL, NEW Home Community located in Boiling Springs/ Inman area!! Sought after Boiling Springs School system! Shopping, grocery, restaurants, I-85, I-26 all close by and more! You'll LOVE the HAZELWOOD plan with two main-level bedrooms - the primary suite with its own private bathroom, and a second bedroom with easy access to the second full bath PLUS two big additional bedrooms and a full bath upstairs! Open floorplan, great for entertaining, covered patio, gas log fireplace, tankless gas water heater, white cabinetry, quartz countertops and more! We are nestled near Lake Bowen and Woodfin Country Club with a membership includedfor1styear. A short distance to Spartanburg, Greenville, and Asheville. Quality built home by popular new home builder! This home truly has it all! * * Come Quick! * *

17. 2026-05-02
    price $299,050 841-char remark

    Show marketing remark (841 chars)

    Welcome Home to ZANES CREEK a BEAUTIFUL, NEW Home Community located in Boiling Springs/ Inman area!! Sought after Boiling Springs School system! Shopping, grocery, restaurants, I-85, I-26 all close by and more! You'll LOVE the HAZELWOOD plan with two main-level bedrooms - the primary suite with its own private bathroom, and a second bedroom with easy access to the second full bath PLUS two big additional bedrooms and a full bath upstairs! Open floorplan, great for entertaining, covered patio, gas log fireplace, tankless gas water heater, white cabinetry, quartz countertops and more! We are nestled near Lake Bowen and Woodfin Country Club with a membership includedfor1styear. A short distance to Spartanburg, Greenville, and Asheville. Quality built home by popular new home builder! This home truly has it all! * * Come Quick! * *

18. 2026-04-10
    price $307,485
19. 2026-04-09
    price $307,545 841-char remark

    Show marketing remark (841 chars)

    Welcome Home to ZANES CREEK a BEAUTIFUL, NEW Home Community located in Boiling Springs/ Inman area!! Sought after Boiling Springs School system! Shopping, grocery, restaurants, I-85, I-26 all close by and more! You'll LOVE the HAZELWOOD plan with two main-level bedrooms - the primary suite with its own private bathroom, and a second bedroom with easy access to the second full bath PLUS two big additional bedrooms and a full bath upstairs! Open floorplan, great for entertaining, covered patio, gas log fireplace, tankless gas water heater, white cabinetry, quartz countertops and more! We are nestled near Lake Bowen and Woodfin Country Club with a membership includedfor1styear. A short distance to Spartanburg, Greenville, and Asheville. Quality built home by popular new home builder! This home truly has it all! * * Come Quick! * *

20. 2026-03-01
    listed $329,036 Active 841-char remark

    Show marketing remark (841 chars)

    Welcome Home to ZANES CREEK a BEAUTIFUL, NEW Home Community located in Boiling Springs/ Inman area!! Sought after Boiling Springs School system! Shopping, grocery, restaurants, I-85, I-26 all close by and more! You'll LOVE the HAZELWOOD plan with two main-level bedrooms - the primary suite with its own private bathroom, and a second bedroom with easy access to the second full bath PLUS two big additional bedrooms and a full bath upstairs! Open floorplan, great for entertaining, covered patio, gas log fireplace, tankless gas water heater, white cabinetry, quartz countertops and more! We are nestled near Lake Bowen and Woodfin Country Club with a membership includedfor1styear. A short distance to Spartanburg, Greenville, and Asheville. Quality built home by popular new home builder! This home truly has it all! * * Come Quick! * *

21. 2026-03-01
    price $329,036

    Show marketing remark (841 chars)

    Welcome Home to ZANES CREEK a BEAUTIFUL, NEW Home Community located in Boiling Springs/ Inman area!! Sought after Boiling Springs School system! Shopping, grocery, restaurants, I-85, I-26 all close by and more! You'll LOVE the HAZELWOOD plan with two main-level bedrooms - the primary suite with its own private bathroom, and a second bedroom with easy access to the second full bath PLUS two big additional bedrooms and a full bath upstairs! Open floorplan, great for entertaining, covered patio, gas log fireplace, tankless gas water heater, white cabinetry, quartz countertops and more! We are nestled near Lake Bowen and Woodfin Country Club with a membership includedfor1styear. A short distance to Spartanburg, Greenville, and Asheville. Quality built home by popular new home builder! This home truly has it all! * * Come Quick! * *

22. 2026-02-25
    listed $314,985 Active
23. 2026-02-12
    listed $314,985 Active 1497-char remark

    Show marketing remark (1497 chars)

    Welcome to your dream home in the serene neighborhood of Zanes Creek, Inman, South Carolina. This stunning single-family residence, known as The Hazelwood, offers an impressive 2,662 square feet of thoughtfully designed living space, perfect for both entertaining and everyday living. With four spacious bedrooms and three full baths, this home caters to families of all sizes. The main level features an expansive primary suite, providing a private retreat, along with a second bedroom and adjacent full bath, ideal for guests or family members. The heart of the home lies in its open-concept kitchen, breakfast area, and family room, creating a warm and inviting atmosphere for gatherings or quiet dinners. The seamless flow between these spaces enhances the overall livability, making it easy to host friends and family. Upstairs, you'll find two nearly identical bedrooms connected by a shared full bath, along with a bonus storage area that ensures your home remains organized and clutter-free. Beyond the walls of this beautiful home, Zanes Creek offers a lifestyle enriched by nature and recreation. Located just two miles from Lake Bowen, residents can enjoy boating, fishing, and kayaking, with public access available at nearby Anchor Park. Additionally, the community provides a complimentary one-year membership to Woodfin Ridge Golf Club, which includes access to golf, swimming, and tennis facilities. With convenient access to I-26 and a variety of retail and dining options nearby,

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

Taxation est. · year 1

• Rental income: $23,715
• − Mortgage interest: −$16,580
• − Property taxes: −$4,440
• − Insurance: −$1,480
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − HOA: −$456
• − Depreciation: −$8,611
• Taxable loss: −$11,646
• Est. tax savings @ 24.0%: +$2,795
• After-tax cash flow: $-3,473/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 02
• NCES district ID: 4503510
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $49,591
• Composite: 44.79/100
• National rank: #2742
• State rank: #6 of 80 in SC

Livability — Boiling Springs

• Score: 78/100
• State rank: #17
• US rank: #2429

Category grades

Amenities C+ 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: Spartanburg County · 258,607 people
• City population: 33,104
• Metro: Spartanburg, SC
• Population (ZIP): 39,083
• Household income: $76,168
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 271.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Subsaharan African 6% Serbian 3% Scotch-Irish 3%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Russian/Polish/Slavic 7% Spanish 3% Other Asian/Pacific 2%

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: ▼ -113.67%
• Current HPI: 244.0359
• Rent YoY: ▲ 1.79%
• 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

-5.1% since first listed

8 events — show timeline

• 2026-05-02 Price Changed $299,050 Greater Greenville MLS
• 2026-05-02 Price Changed $299,050 SPMLS
• 2026-04-10 Price Changed $307,485 Greater Greenville MLS
• 2026-04-09 Price Changed $307,545 SPMLS
• 2026-03-01 Listed $329,036 SPMLS
• 2026-03-01 Price Changed $329,036 Greater Greenville MLS
• 2026-02-25 Listed $314,985 Greater Greenville MLS
• 2026-02-12 Listed $314,985 Zillow