1507 Mccormick Hwy · Greenwood, SC 29646

$250,000

2 bd · 1.0 ba · 1,032 sqft · Other public records · 49 Days on market

Built 1954 1.60 ac lot

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Why this score? — see what drove the C- 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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Situated on 1.6 acres, this unique property offers both space and flexibility with valuable C2 zoning—ideal for residential living, business use, or a combination of both. Located in the Greenwood area and serviced by the highly desirable OLD DUKE power rate, this property provides the benefit of reduced utility costs, adding long-term value and efficiency. The expansive lot offers plenty of room for outdoor living, future expansion, or commercial potential, all while maintaining a sense of privacy. With its versatile zoning designation, the possibilities are wide open—whether you're looking to operate a small business, invest, or simply enjoy a home with extra room to grow. A r

Key facts

• C2 zoning
• 1.6 acres
• Greenwood area

Tags

• 1.6 ACRES
• C2 ZONING
• GREENWOOD AREA
• OLD DUKE POWER RATE
• REDUCED UTILITY COSTS
• OUTDOOR LIVING

Property features AI

Exterior

• Parking: Attached parking
• Utilities: Natural gas available; Septic tank
• Home design: Single-family detached residence; One story
• Construction: Brick construction
• Exterior features: Cleared, level, and wooded lot; Outbuilding and shed(s)

Interior

• Kitchen: Refrigerator
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Refrigerator included; Carpet and hardwood flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $250k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.6% in Greenwood — 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 63/100 on livability (#167 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, schools F, crime F.
• Greenwood 50 (town): math 31% / reading 39% proficiency, ranked #43 of 80 in SC (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 168 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 193 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Greenwood County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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 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 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. 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: 1.00% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.9%
• Equity multiple: 0.82×
• Total profit: $-12,727
• Equity at exit: $37,276

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $24,474
• Equity at exit: $21,615

Cash invested: $70,000 (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 29646

• Active inventory: 168
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$122 /mo · $1,468/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $437

Break-even live

Break-even rent $1,946

Max offer price $250,000

Occupancy floor 78%

Sensitivity live

Price	-10% $579	-5% $508	+0% $437	+5% $367	+10% $296
Rent	-10% $240	-5% $339	+0% $437	+5% $536	+10% $635
Rate	-1.0pp $563	-0.5pp $501	base $437	+0.5pp $373	+1.0pp $307

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Woodhaven Ct Unit 104 Greenwood, SC	2.0	2.0	1305	$2,500	$1.92	24d	1	1.49mi

Listing history 17 events

1. 2026-06-19
   days on market $250,000 Active 49 DOM
2. 2026-06-18
   days on market $250,000 Active 48 DOM
3. 2026-06-17
   days on market $250,000 Active 47 DOM
4. 2026-06-16
   days on market $250,000 Active 46 DOM
5. 2026-06-15
   days on market $250,000 Active 45 DOM
6. 2026-06-14
   days on market $250,000 Active 43 DOM
7. 2026-06-12
   days on market $250,000 Active 42 DOM
8. 2026-06-09
   days on market $250,000 Active 39 DOM
9. 2026-06-08
   days on market $250,000 Active 38 DOM
10. 2026-06-07
    days on market $250,000 Active 37 DOM
11. 2026-06-07
    days on market $250,000 Active 36 DOM
12. 2026-06-03
    days on market $250,000 Active 33 DOM
13. 2026-06-02
    days on market $250,000 Active 32 DOM
14. 2026-06-01
    days on market $250,000 Active 31 DOM
15. 2026-05-31
    days on market $250,000 Active 30 DOM
16. 2026-05-30
    days on market $250,000 Active 29 DOM
17. 2026-04-29
    listed $250,000 Active

ⓘ 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: $1,468 · $122/mo
• Projected year-2 tax: $1,468 · $122/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $30,000
• − Mortgage interest: −$14,004
• − Property taxes: −$1,468
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$7,273
• Taxable income: $1,205
• Est. tax owed @ 24.0%: −$289
• After-tax cash flow: $4,960/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: Greenwood 50
• NCES district ID: 4502340
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $37,663
• Composite: 29.14/100
• National rank: #6585
• State rank: #43 of 80 in SC

Livability — Greenwood

• Score: 63/100
• State rank: #167
• US rank: #15097

Category grades

Amenities D Commute F 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

• City population: 26,275
• Population (ZIP): 28,413

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 69,627 people
• By 2030: 68,905 · -1.0%
• By 2040: 66,640 · -4.3%
• By 2050: 63,768 · -8.4%
• By 2075: 55,769 · -19.9%
• By 2100: 47,293 · -32.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 44% Black 43% Hispanic / Latino 10% Two or more races 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Greenwood

• 2024 margin: Strong R (+29.0) · D 34.9% · R 63.8% · Other 1.3%
• 2008→2024 swing: -13.3pp toward R · 2008: -15.7pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+22.8 2016: R+21.8 2012: R+15.4 2008: R+15.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.03%
• Current HPI: 153.1055
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-04-29 Listed $250,000 GAOR

Property tax history

+1.4%/yr

Latest (2025): $1,468 · +0.0% YoY. Source: county tax records.