337 Still Water Cir Cir · Valley Falls, SC 29316

$205,000

3 bd · 2.5 ba · 1,598 sqft · Townhouse public records · 104 Days on market

Built 2004 2,178 sqft lot Est $214k · at est.

---

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 +13.6/30.0
• ARV discount +9.4/15.0
• Schools +4.5/10.0
• DSCR +4.1/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 337 Still Water Circle in Boiling Springs, SC! This inviting home features a spacious, 3 Bedroom 2 full baths and a half bath. The open-concept layout filled with natural light, perfect for everyday living and entertaining. Kitchen offers plenty of counter space and cabinets to make cooking a delight. Second floor boast a loft that is perfect for a sitting areas outside the two additional bedrooms offer ample space for family or guests, with a conveniently located full bath nearby. Enjoy the convenience of nearby shopping, dining, and schools. The community offers a friendly atmosphere with plenty of opportunities for outdoor activities and social gatherings by the pool.

Key facts

• Natural light
• Open-concept layout
• 2 garage spots

Tags

• OPEN-CONCEPT LAYOUT
• NATURAL LIGHT
• PLENTY OF COUNTER SPACE

Property features AI

Finance

• HOA & community: Homeowners association; Community pool

Exterior

• Parking: Attached 2-car garage
• Home design: Residential townhouse; Two stories
• Exterior features: Community pool

Interior

• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: Laminate flooring
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $205k.

Deal economics

• At list price, monthly cash flow is $11 ($131/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 $163k (20.5% below list).
• Recommended offer: $163k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.9% in Valley Falls — 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 69/100 on livability (#72 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, amenities F, employment D-.
• 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: Boiling Springs Elementary (math 57% / reading 57%, grade C+, #102 of 597 statewide, top 18%, 886 students, 67% FRL); Boiling Springs Middle (math 39% / reading 50%, grade D, #52 of 229 statewide, top 23%, 1,068 students, 70% FRL); Boiling Springs High (math 62% / reading 88%, grade A-, #37 of 196 statewide, top 18%, 2,671 students, 60% FRL) — zoned schools average 66% FRL vs 44% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 461 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k 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 104 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 9y ago; this cycle's ask is 11959% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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 $162,959 (20.5% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.79% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $214,132
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
388 Still Water Cir	0.06mi	3/2.5	1,581 (-1%)	10mo	$212,000	$134	87
382 Still Water Cir	0.04mi	3/2.5	1,690 (+6%)	11mo	$211,000	$125	79

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.69% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-36,287
• Equity at exit: $30,566

10-year hold

• IRR: -15.5%
• Equity multiple: 0.21×
• Total profit: $-45,458
• Equity at exit: $17,725

Cash invested: $57,400 (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 29316

• Home prices YoY: -18.9%
• Rents YoY: 0.7%
• Active inventory: 461
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,630 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $11

Break-even live

Break-even rent $1,616

Max offer price $205,000

Occupancy floor 94%

Sensitivity live

Price	-10% $127	-5% $69	+0% $11	+5% $-47	+10% $-105
Rent	-10% $-118	-5% $-53	+0% $11	+5% $75	+10% $140
Rate	-1.0pp $114	-0.5pp $63	base $11	+0.5pp $-42	+1.0pp $-96

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 College Pointe Ln Spartanburg, SC	1.0–4.0	1.0–4.0	1293	$1,117	$0.86	23d	10	1.28mi
1000 Pinegate Dr Spartanburg, SC	1.0–4.0	1.0–4.0	1097	$1,475	$1.34	23d	10	1.45mi

Listing history 40 events

1. 2026-06-21
   days on market $205,000 Active 104 DOM
2. 2026-06-18
   days on market $205,000 Active 101 DOM
3. 2026-06-17
   days on market $205,000 Active 100 DOM
4. 2026-06-16
   days on market $205,000 Active 99 DOM
5. 2026-06-15
   days on market $205,000 Active 98 DOM
6. 2026-06-14
   days on market $205,000 Active 96 DOM
7. 2026-06-13
   days on market $205,000 Active 95 DOM
8. 2026-06-10
   days on market $205,000 Active 93 DOM
9. 2026-06-09
   days on market $205,000 Active 92 DOM
10. 2026-06-08
    days on market $205,000 Active 91 DOM
11. 2026-06-07
    days on market $205,000 Active 90 DOM
12. 2026-06-05
    days on market $205,000 Active 87 DOM
13. 2026-06-02
    days on market $205,000 Active 85 DOM
14. 2026-06-01
    days on market $205,000 Active 84 DOM
15. 2026-05-31
    days on market $205,000 Active 83 DOM
16. 2026-05-30
    days on market $205,000 Active 82 DOM
17. 2026-05-23
    listed $1,700
18. 2026-05-20
    price $205,000
19. 2026-03-06
    listed $210,000 Active
20. 2024-12-17
    listed $234,900 Active
21. 2024-12-11
    listed $234,900 Active
22. 2024-12-11
    historical
23. 2024-09-20
    listed $234,900 Active
24. 2022-02-28
    soldstatus $190,000 Sold CO-OP Member
25. 2022-02-28
    soldstatus $190,000
26. 2022-01-31
    status Pending
27. 2022-01-27
    listed $189,900 Active
28. 2017-08-17
    soldstatus $107,300 Sold CO-OP Member
29. 2017-08-17
    soldstatus $107,300 Sold
30. 2017-08-17
    soldstatus $107,300
31. 2017-07-01
    historical
32. 2017-06-30
    historical
33. 2017-05-31
    historical Contingency Contract
34. 2017-05-18
    status Active
35. 2017-04-12
    historical Contingency Contract
36. 2017-04-10
    status Active
37. 2017-02-28
    historical Contingency Contract
38. 2017-02-23
    listed $109,000
39. 2017-02-23
    listed $109,000 Active
40. 2005-01-19
    soldstatus $103,000

ⓘ 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: $1,392 · $116/mo
• Projected year-2 tax: $1,392 · $116/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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $19,555
• − Mortgage interest: −$11,483
• − Property taxes: −$1,392
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,564
• − Management: −$1,564
• − Depreciation: −$5,964
• Taxable loss: −$3,438
• Est. tax savings @ 24.0%: +$825
• After-tax cash flow: $956/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 — Valley Falls

• Score: 69/100
• State rank: #72
• US rank: #8644

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valley Falls, SC
• County: Spartanburg County · 258,607 people
• City population: 28,009
• Metro: Spartanburg, SC
• Population (ZIP): 33,104
• Household income: $74,735
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 524.0

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 (72%)
• Race & ethnicity: White 72% Black 15% Two or more races 6% Hispanic / Latino 5% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Subsaharan African 3% Scotch-Irish 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 84% English-only · Russian/Polish/Slavic 7% Spanish 5% 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: ▼ -51.42%
• Current HPI: 220.8438
• Rent YoY: ▲ 0.69%
• 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

-98.3% since first listed

24 events — show timeline

• 2026-05-23 Listed for Rent $1,700 TURBOTENANT
• 2026-05-20 Price Changed $205,000 SPMLS
• 2026-03-06 Listed $210,000 SPMLS
• 2024-12-17 Listed $234,900 SPMLS
• 2024-12-11 Listed $234,900 SPMLS
• 2024-12-11 Delisted — SPMLS
• 2024-09-20 Listed $234,900 SPMLS
• 2022-02-28 Sold (Public Records) $190,000 Public Records
• 2022-02-28 Sold (MLS) $190,000 SPMLS
• 2022-01-31 Pending — SPMLS
• 2022-01-27 Listed $189,900 SPMLS
• 2017-08-17 Sold (Public Records) $107,300 Public Records
• 2017-08-17 Sold (MLS) $107,300 Greater Greenville MLS
• 2017-08-17 Sold (MLS) $107,300 SPMLS
• 2017-07-01 Listing Removed — Greater Greenville MLS
• 2017-06-30 Delisted — SPMLS
• 2017-05-31 Contingent — Greater Greenville MLS
• 2017-05-18 Relisted — Greater Greenville MLS
• 2017-04-12 Contingent — Greater Greenville MLS
• 2017-04-10 Relisted — Greater Greenville MLS
• 2017-02-28 Contingent — Greater Greenville MLS
• 2017-02-23 Listed $109,000 SPMLS
• 2017-02-23 Listed $109,000 Greater Greenville MLS
• 2005-01-19 Sold (Public Records) $103,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,392 · +0.7% YoY. Source: county tax records.