115 Gray Cir · Iva, SC 29655

$179,000

2 bd · 1.0 ba · 1,156 sqft · Other public records · 27 Days on market

Built 2003 1.97 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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.9/10.0
• Schools +3.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NICE 2 BED ROOM HOME 1 BATH , HAS LARGE LOT 1.97 ACRES, IN COUNTRY , PRESENTLY HAS RENTER, . VERY WELL KEPT HOME, UTILITY BUILDINGS AND CARPORT DOES NOT PASS WITH SALE.

Key facts

• Large lot 1.97 acres
• 1.97 acre lot
• Garage

Tags

• LARGE LOT 1.97 ACRES

Property features AI

Exterior

• Parking: Detached carport; 1-car garage
• Utilities: Public water; Septic tank sewer
• Home design: Single-story home; Vinyl siding
• Construction: Built within the last 11–20 years; Crawlspace foundation
• Exterior features: Not in a subdivision; Outside city limits

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating (electric, heat pump); Central electric air conditioning
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $179k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $177k (1.4% below list).
• Recommended offer: $176k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#100 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, crime D.
• Anderson 03 (rural): math 44% / reading 49% proficiency, ranked #22 of 80 in SC (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 105 active listings in the ZIP; 1,255 units permitted in Anderson County in 2024 (0 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.
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,315 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.5

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-15,101
• Equity at exit: $26,689

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $4,725
• Equity at exit: $15,477

Cash invested: $50,120 (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 29655

• Home prices YoY: -5.5%
• Active inventory: 105
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,765 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$163 /mo · $1,953/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $218

Break-even live

Break-even rent $1,489

Max offer price $179,000

Occupancy floor 83%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $179,000 Active 27 DOM
2. 2026-06-17
   days on market $179,000 Active 26 DOM
3. 2026-06-16
   days on market $179,000 Active 25 DOM
4. 2026-06-15
   days on market $179,000 Active 24 DOM
5. 2026-06-13
   days on market $179,000 Active 22 DOM
6. 2026-06-13
   remarks 170-char remark
7. 2026-06-13
   days on market $179,000 Active 21 DOM
8. 2026-06-10
   days on market $179,000 Active 19 DOM
9. 2026-06-09
   days on market $179,000 Active 18 DOM
10. 2026-06-08
    days on market $179,000 Active 17 DOM
11. 2026-06-07
    days on market $179,000 Active 16 DOM
12. 2026-06-05
    days on market $179,000 Active 13 DOM
13. 2026-06-03
    days on market $179,000 Active 12 DOM
14. 2026-06-03
    days on market $179,000 Active 11 DOM
15. 2026-06-01
    days on market $179,000 Active 10 DOM
16. 2026-05-31
    days on market $179,000 Active 9 DOM
17. 2026-05-20
    listed $179,000 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: $1,953 · $163/mo
• Projected year-2 tax: $1,953 · $163/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,183
• − Mortgage interest: −$10,027
• − Property taxes: −$1,953
• − Insurance: −$895
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$5,207
• Taxable loss: −$289
• Est. tax savings @ 24.0%: +$69
• After-tax cash flow: $2,691/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: Anderson 03
• NCES district ID: 4500840
• Math proficiency: 44% ▼ -16.00%
• Reading proficiency: 49% ▼ -2.00%
• Median HH income: $35,457
• Composite: 38.48/100
• National rank: #4187
• State rank: #22 of 80 in SC

Livability — Iva

• Score: 67/100
• State rank: #100
• US rank: #10875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,078

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 210,546 people
• By 2030: 217,791 · +3.4%
• By 2040: 230,643 · +9.5%
• By 2050: 240,220 · +14.1%
• By 2075: 259,518 · +23.3%
• By 2100: 258,696 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 8% Two or more races 5%
• Common ancestry: Serbian 3% Slovak 3% Scotch-Irish 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -14.1pp toward R · 2008: -33.3pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+42.0 2016: R+43.7 2012: R+36.4 2008: R+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.62%
• Current HPI: 271.1368
• 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

• 2026-05-20 Listed $179,000 WUMLS

Property tax history

+2.8%/yr

Latest (2025): $1,953 · +3.5% YoY. Source: county tax records.