1522 Parkway Ct · Greenwood, SC 29646

$26,900

2 bd · 1.0 ba · 700 sqft · Condo

Built 1985 $125/mo HOA · 10% of rent ↓ 19% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +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 MLS

Consistently rented package of FOUR 2/1 rental properties in a great location, regime fees per unit cover the exterior including roof, all at an unbelievable price!

Key facts

• $125 HOA
• Built 1985

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $27k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Cap rate 34.6% 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; 2 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 $186 of loan paydown is wiped out by about $807 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 18y ago; this cycle's ask is 2889% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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 $26,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.45% ✓
• Cap rate: 34.64%
• Cash-on-cash: 101.23%
• DSCR: 5.50
• GRM: 1.9

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: —
• Equity multiple: 5.81×
• Total profit: $36,204
• Equity at exit: $4,011

10-year hold

• IRR: —
• Equity multiple: 12.16×
• Total profit: $84,020
• Equity at exit: $2,326

Cash invested: $7,532 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,198 medium
• Mortgage (P&I): −$141
• Tax est. 1.5%: −$34 /mo · $404/yr
• Insurance: −$11
• HOA: −$125
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $635

Break-even live

Break-even rent $394

Max offer price $26,900

Occupancy floor 42%

Sensitivity live

Price	-10% $654	-5% $645	+0% $635	+5% $626	+10% $617
Rent	-10% $541	-5% $588	+0% $635	+5% $683	+10% $730
Rate	-1.0pp $649	-0.5pp $642	base $635	+0.5pp $628	+1.0pp $621

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: $6,725
• Closing costs: $807
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1524 Parkway Greenwood, SC	1.0–3.0	1.0–2.0	940	$1,212	$1.29	12d	1	0.10mi
835 Main St S Greenwood, SC	2.0–3.0	1.0	811	$1,050	$1.29	11d	5	1.22mi

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-05-16
   listed $900
2. 2025-12-10
   historical $850
3. 2025-11-13
   listed $850
4. 2024-07-05
   historical $850
5. 2024-06-28
   listed $850
6. 2022-03-02
   soldstatus $85,000
7. 2022-01-28
   listed $85,000
8. 2021-05-10
   soldstatus $157,160 164-char remark

   Show marketing remark (164 chars)

   Consistently rented package of FOUR 2/1 rental properties in a great location, regime fees per unit cover the exterior including roof, all at an unbelievable price!

9. 2021-03-17
   listed $160,000 164-char remark

   Show marketing remark (164 chars)

   Consistently rented package of FOUR 2/1 rental properties in a great location, regime fees per unit cover the exterior including roof, all at an unbelievable price!

10. 2019-07-17
    soldstatus $68,000
11. 2019-07-02
    listed $73,000
12. 2019-03-29
    soldstatus $100,000
13. 2018-10-04
    listed $135,000
14. 2017-08-14
    historical
15. 2017-07-10
    listed $26,900
16. 2016-09-29
    soldstatus $21,000
17. 2016-08-17
    listed $24,900
18. 2015-11-12
    soldstatus $22,500
19. 2015-05-14
    listed $26,500
20. 2012-10-25
    soldstatus $20,000
21. 2011-04-19
    listed $22,000
22. 2008-04-14
    soldstatus $95,000
23. 2008-02-11
    listed $105,000

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

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 ≥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: $14,374
• − Mortgage interest: −$1,507
• − Property taxes: −$404
• − Insurance: −$134
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − HOA: −$1,500
• − Depreciation: −$783
• Taxable income: $7,747
• Est. tax owed @ 24.0%: −$1,859
• After-tax cash flow: $5,765/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
• 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

-19.0% since first listed

23 events — show timeline

• 2026-05-16 Listed for Rent $900 APPFOLIO
• 2025-12-10 Rental Removed $850 APPFOLIO
• 2025-11-13 Listed for Rent $850 APPFOLIO
• 2024-07-05 Rental Removed $850 APPFOLIO
• 2024-06-28 Listed for Rent $850 APPFOLIO
• 2022-03-02 Sold (MLS) $85,000 GAOR
• 2022-01-28 Listed $85,000 GAOR
• 2021-05-10 Sold (MLS) $157,160 GAOR
• 2021-03-17 Listed $160,000 GAOR
• 2019-07-17 Sold (MLS) $68,000 GAOR
• 2019-07-02 Listed $73,000 GAOR
• 2019-03-29 Sold (MLS) $100,000 GAOR
• 2018-10-04 Listed $135,000 GAOR
• 2017-08-14 Delisted — GAOR
• 2017-07-10 Listed $26,900 GAOR
• 2016-09-29 Sold (MLS) $21,000 GAOR
• 2016-08-17 Listed $24,900 GAOR
• 2015-11-12 Sold (MLS) $22,500 GAOR
• 2015-05-14 Listed $26,500 GAOR
• 2012-10-25 Sold (MLS) $20,000 GAOR
• 2011-04-19 Listed $22,000 GAOR
• 2008-04-14 Sold (MLS) $95,000 GAOR
• 2008-02-11 Listed $105,000 GAOR