112 Terrace Way · Greenwood, SC 29649

$198,500

2 bd · 1.0 ba · 1,369 sqft · Other public records · 146 Days on market

Built 1950

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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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +3.7/10.0
• 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 MLS

Welcome to your new home in the charming neighborhood of Northcrest! This single-level brick beauty sits on a private lot that welcomes you with beautiful landscaping and a covered front porch. The home offers an open and inviting living and dining space, two generous bedrooms, and a versatile third room that could be an additional bedroom, an in-home office, or cozy playroom. The expansive laundry room boasts ample cabinet space, ensuring convenience and organization. Meanwhile around the back of the home, the single car attached garage provides secure parking for your vehicle and boasts two storage closets for your storage needs. Plus, the backyard is fully fenced. Nestled in a prime location, this home offers easy access to everything from shopping and dining to parks and schools. Don't miss this opportunity; schedule your showing today!

Key facts

• Fenced-in backyard
• Hardwood floors
• Garage

Tags

• HARDWOOD FLOORS
• UPDATED VINYL WINDOWS
• FENCED-IN BACKYARD
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• Other: Lot dimensions approximately 79 x 164 x 79 x 164

Exterior

• Parking: Attached garage (1 car)
• Utilities: Sewer connected
• Home design: Single-family detached residence; Residential property
• Construction: Brick and frame construction
• Exterior features: Chain link fencing; Level lot

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air
• Interior features: Hardwood flooring; Central air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $198k.

Deal economics

• At list price, monthly cash flow is $44 ($523/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 $172k (13.5% below list).
• Recommended offer: $172k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.5% 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: 258 active listings in the ZIP; 193 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $6k 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 146 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $171,718 (13.5% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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: 0.87% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 9.6

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-29,400
• Equity at exit: $29,597

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-22,068
• Equity at exit: $17,163

Cash invested: $55,580 (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 29649

• Active inventory: 258
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,717 medium
• Mortgage (P&I): −$1,041
• Tax from tax record: −$189 /mo · $2,272/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $44

Break-even live

Break-even rent $1,662

Max offer price $198,500

Occupancy floor 92%

Sensitivity live

Price	-10% $156	-5% $100	+0% $44	+5% $-13	+10% $-69
Rent	-10% $-92	-5% $-24	+0% $44	+5% $111	+10% $179
Rate	-1.0pp $144	-0.5pp $94	base $44	+0.5pp $-8	+1.0pp $-60

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $198,500 Active 146 DOM
2. 2026-06-19
   days on market $198,500 Active 144 DOM
3. 2026-06-18
   days on market $198,500 Active 143 DOM
4. 2026-06-17
   days on market $198,500 Active 142 DOM
5. 2026-06-16
   days on market $198,500 Active 141 DOM
6. 2026-06-15
   days on market $198,500 Active 140 DOM
7. 2026-06-14
   days on market $198,500 Active 138 DOM
8. 2026-06-12
   days on market $198,500 Active 137 DOM
9. 2026-06-09
   days on market $198,500 Active 134 DOM
10. 2026-06-08
    days on market $198,500 Active 133 DOM
11. 2026-06-07
    days on market $198,500 Active 132 DOM
12. 2026-06-07
    days on market $198,500 Active 131 DOM
13. 2026-06-03
    days on market $198,500 Active 128 DOM
14. 2026-06-02
    days on market $198,500 Active 127 DOM
15. 2026-06-01
    days on market $198,500 Active 126 DOM
16. 2026-05-31
    days on market $198,500 Active 125 DOM
17. 2026-05-30
    days on market $198,500 Active 124 DOM
18. 2026-01-26
    listed $198,500 Active
19. 2024-06-17
    soldstatus $192,500
20. 2024-06-14
    soldstatus $192,500 Closed 852-char remark

    Show marketing remark (852 chars)

    Welcome to your new home in the charming neighborhood of Northcrest! This single-level brick beauty sits on a private lot that welcomes you with beautiful landscaping and a covered front porch. The home offers an open and inviting living and dining space, two generous bedrooms, and a versatile third room that could be an additional bedroom, an in-home office, or cozy playroom. The expansive laundry room boasts ample cabinet space, ensuring convenience and organization. Meanwhile around the back of the home, the single car attached garage provides secure parking for your vehicle and boasts two storage closets for your storage needs. Plus, the backyard is fully fenced. Nestled in a prime location, this home offers easy access to everything from shopping and dining to parks and schools. Don't miss this opportunity; schedule your showing today!

21. 2024-04-29
    historical Active Under Contract 852-char remark

    Show marketing remark (852 chars)

    Welcome to your new home in the charming neighborhood of Northcrest! This single-level brick beauty sits on a private lot that welcomes you with beautiful landscaping and a covered front porch. The home offers an open and inviting living and dining space, two generous bedrooms, and a versatile third room that could be an additional bedroom, an in-home office, or cozy playroom. The expansive laundry room boasts ample cabinet space, ensuring convenience and organization. Meanwhile around the back of the home, the single car attached garage provides secure parking for your vehicle and boasts two storage closets for your storage needs. Plus, the backyard is fully fenced. Nestled in a prime location, this home offers easy access to everything from shopping and dining to parks and schools. Don't miss this opportunity; schedule your showing today!

22. 2024-04-19
    listed $199,000 Active 852-char remark

    Show marketing remark (852 chars)

    Welcome to your new home in the charming neighborhood of Northcrest! This single-level brick beauty sits on a private lot that welcomes you with beautiful landscaping and a covered front porch. The home offers an open and inviting living and dining space, two generous bedrooms, and a versatile third room that could be an additional bedroom, an in-home office, or cozy playroom. The expansive laundry room boasts ample cabinet space, ensuring convenience and organization. Meanwhile around the back of the home, the single car attached garage provides secure parking for your vehicle and boasts two storage closets for your storage needs. Plus, the backyard is fully fenced. Nestled in a prime location, this home offers easy access to everything from shopping and dining to parks and schools. Don't miss this opportunity; schedule your showing 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: $2,272 · $189/mo
• Projected year-2 tax: $2,272 · $189/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°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: $20,606
• − Mortgage interest: −$11,119
• − Property taxes: −$2,272
• − Insurance: −$992
• − Repairs & maintenance: −$1,648
• − Management: −$1,648
• − Depreciation: −$5,775
• Taxable loss: −$2,849
• Est. tax savings @ 24.0%: +$684
• After-tax cash flow: $1,207/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

• Census place: Greenwood, SC
• County: Greenwood County · 26,275 people
• City population: 26,275
• Metro: Greenwood, SC
• Population (ZIP): 26,275
• Household income: $54,585
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 566.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 25% Hispanic / Latino 4% Two or more races 4% Asian 2%
• Common ancestry: Serbian 3% Italian 3% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -128.00%
• Current HPI: 167.9262
• Rent YoY: —
• Metro: Greenwood, 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

-0.3% since first listed

5 events — show timeline

• 2026-01-26 Listed $198,500 GAOR
• 2024-06-17 Sold (Public Records) $192,500 Public Records
• 2024-06-14 Sold (MLS) $192,500 GAOR
• 2024-04-29 Contingent — GAOR
• 2024-04-19 Listed $199,000 GAOR

Property tax history

+6.8%/yr

Latest (2025): $2,272 · +94.1% YoY. Source: county tax records.