Is 504 Round Rock Way in Fountain Inn, SC a good investment?

CashFlowRE grades it D with a 5.2% cap rate and $-223/mo modeled cash flow at a $239,990 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 504 Round Rock Way?

The modeled cap rate is 5.2% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,976/month, from CashFlowRE's rent model.

D Composite 40.69

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).

ARV discount +9.3/15.0
Cash flow +8.2/30.0
Schools +5.0/10.0
Condition / age +5.0/5.0
Livability +4.1/5.0
Rent growth +3.6/5.0
1% rule +3.2/10.0
DSCR +2.2/10.0
Appreciation +0.0/10.0

$239,990

504 Round Rock Way · Fountain Inn, SC 29644

3 bd · 2.5 ba · 1,600 sqft · Townhouse · 8 Days on market

Built 2026 Excellent condition 1,742 sqft lot 1-car garage $150/sqft · at area comps Est $250k · at est. $125/mo HOA · 6% of rent ↓ 4% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Home is Move in Ready! Welcome to Barton Hollow! The only new homes within 5 minutes of I-385 and Downtown Fountain Inn, SC with James Hardie siding and community amenities. * * * Great Location Close to 385 * * All Appliances and Blinds Included * * Spacious Primary Suite * * First Year HOA Covered by Builder * With 1,600 sq ft across two levels, this stylish modern home offers a welcoming foyer leading into a light-filled open floor plan. The kitchen centers on a large island and connects seamlessly to the living and dining areas—perfect for entertaining.

Key facts

Split bedroom design
James hardie siding
Large island

What this means for you Summary

Snapshot

This is a 3-bed/2.5-bath townhouse listed at $240k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
To cash-flow at today's rent, offer at most $208k (13.4% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (17.7% below list).
Recommended offer: $198k (17.7% below list) — sets the bar for 1% rule.

Location & tenants

Location reads 82/100 on livability (#4 in SC, #1,162 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Bryson Elementary (math 52% / reading 52%, grade C-, #145 of 597 statewide, top 26%, 911 students, 70% FRL) — zoned schools average 70% FRL vs 42% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: Rents rising fast (+4.5%/yr); 649 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
This rent runs 34% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
3 sale attempts 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

Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,581 (17.7% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
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: 0.82% ✗
Cap rate: 5.18%
Cash-on-cash: -3.98%
DSCR: 0.82
GRM: 10.1

CMA / ARV

ARV (median comp): $249,726
List price: $239,990
Delta: -3.90%
Verdict: FAIR
Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Round Rock Way	0.00mi	3/2.5	1,616 (+1%)	1mo	$273,990	$170	97
7 Torwood St	0.45mi	3/2.0	1,660 (+4%)	2mo	$299,750	$181	69
114 Pretoria Dr	0.90mi	3/2.0	1,618 (+1%)	1mo	$306,900	$190	60
147 Cranford Rd	0.86mi	3/2.5	1,518 (-5%)	1mo	$280,900	$185	56
158 Cranford Rd	0.89mi	3/2.5	1,518 (-5%)	1mo	$281,900	$186	56
157 Cranford Rd	0.90mi	3/2.5	1,518 (-5%)	2mo	$279,000	$184	55
164 Cranford Rd	0.91mi	3/2.5	1,518 (-5%)	2mo	$279,900	$184	55
159 Cranford Rd	0.90mi	3/2.5	1,749 (+9%)	1mo	$292,900	$167	48
302 Roocroft Ct Unit 302 Roocroft Court	0.98mi	4/2.0 (+1)	1,764 (+10%)	1mo	$317,000	$180	40
184 Holly Oak Ct Unit SLC 117 Berkley A1E	1.37mi	3/2.5	1,983 (+24%)	1mo	$279,999	$141	39
127 Holly Oak Ct Unit SLC 87 Berkley A	1.37mi	3/2.5	1,983 (+24%)	2mo	$272,999	$138	39
131 Holly Oak Ct Unit SLC 89 Berkley B	1.37mi	3/2.5	1,983 (+24%)	2mo	$272,999	$138	39

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 · 4.55% rent growth · sell at horizon

5-year hold

IRR: -21.1%
Equity multiple: 0.26×
Total profit: $-49,832
Equity at exit: $35,783

10-year hold

IRR: -11.0%
Equity multiple: 0.29×
Total profit: $-47,966
Equity at exit: $20,750

Cash invested: $67,197 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 6 active · 1 under contract
Months of supply: 36.0 mo (3%/mo absorbed)
Median asking: $248,745 ($159/sqft)
Median days on market: 119 d
This list price: lowest-priced of the active set
ARV vs active asking: -1.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29644

Home prices YoY: -28.6%
Rents YoY: 4.5%
Active inventory: 649
Price-to-rent: 10.1×

Monthly cashflow live

Estimated rent: $1,976 high interval (Pro) →
Mortgage (P&I): −$1,259
Tax est. 1.5%: −$300 /mo · $3,600/yr
Insurance: −$100
HOA: −$125
Lot rent: −$0
Vacancy / Maint / Mgmt: −$415
Net cashflow: $-223

Break-even live

Break-even rent $2,258

Max offer price $207,776

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-140	+0% $-223	+5% $-306	+10% $-388
Rent	-10% $-379	-5% $-301	+0% $-223	+5% $-145	+10% $-67
Rate	-1.0pp $-102	-0.5pp $-162	base $-223	+0.5pp $-285	+1.0pp $-348

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: $59,998
Closing costs: $7,200
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Round Rock Way Fountain Inn, SC	3.0	2.5	1616	$1,700	$1.05	0d	1	0.03mi
101 Fennec Dr Fountain Inn, SC	3.0	3.0	1735	$2,049	$1.18	88d	1	0.63mi
119 Cranford Rd Fountain Inn, SC	4.0	3.0	2174	$2,495	$1.15	115d	1	0.74mi
121 Roocroft Ct Fountain Inn, SC	4.0	2.5	2200	$2,200	$1.00	6d	1	0.82mi
153 Cranford Rd Fountain Inn, SC	4.0	2.5	2174	$2,150	$0.99	0d	1	0.87mi
217 N Nelson Dr Fountain Inn, SC	3.0–4.0	2.5–3.5	2115	$2,050	$0.97	0d	8	0.91mi
4 Rockshire Trl Fountain Inn, SC	3.0	2.5	1400	$1,900	$1.36	119d	1	0.98mi
2 Rockshire Trl Fountain Inn, SC	3.0	2.5	1597	$1,650	$1.03	9d	1	1.04mi
2 Rockshire Trl Unit 1 Fountain Inn, SC	3.0	2.5	1597	$1,775	$1.11	63d	1	1.04mi
7 Gramercy Woods Ln Fountain Inn, SC	3.0–5.0	2.5–3.0	1876	$1,924	$1.03	0d	9	1.20mi
40 Fernhill Ln Fountain Inn, SC	3.0	3.0	1983	$1,850	$0.93	73d	1	1.40mi
116 Aspen Valley Trl Fountain Inn, SC	3.0	2.5	1422	$1,700	$1.20	0d	8	1.50mi

Property features AI

Finance

Other: Community amenities include common areas, lighting, playground, lawn maintenance, and a dog park
HOA & community: Homeowners association presentHOA covers lawn maintenance, street lights, and trash service

Exterior

Parking: Attached 1-car garage with door openerPaved driveway with extra pad
Utilities: Public waterPublic sewerPublic garbage pickupElectric water heaterElectric coolingNatural gas heatingAttached garage (power available)
Home design: Two-story new construction (2026)Model: LitchfieldNew / never lived inBuilt by DRB Homes
Construction: Hardboard siding exteriorArchitectural roofSlab foundationGarage and additional storage (other per remarks)
Exterior features: Front porchPatioTilt-out windowsLevel lot

Interior

Kitchen: DishwasherDisposalGas range (stand-alone)Self-cleaning ovenBuilt-in microwaveRefrigeratorPantry (closet)
Bedrooms: Primary bedroom with double sinks, shower-only full bath, walk-in closet (primary on 2nd level)Master bedroom approx. 12 x 15Second bedroom approx. 14 x 10Third bedroom approx. 14 x 10
Flooring: CarpetLuxury vinyl tile/plank
Bathrooms: Two full bathroomsOne half bathroom
Heating & cooling: Natural gas heatingElectric cooling
Interior features: Attic stairs (disappearing)Cable available9-foot-plus smooth ceilingsOpen floor planSmoke detectorWalk-in closetSplit floor planQuartz countertopsPantry (closet)Smart systems pre-wiring
Laundry & utility: Laundry on 2nd floor in closet-style spaceElectric dryer hookupWasher includedElectric water heater

Listing history 50 events

2026-09-24

days on market $239,990 Active 8 DOM
2026-09-23

days on market $239,990 Active 7 DOM
2026-09-22

days on market $239,990 Active 6 DOM
2026-09-21

days on market $239,990 Active 5 DOM
2026-09-20

days on market $239,990 Active 4 DOM
2026-09-19

days on market $239,990 Active 3 DOM
2026-09-18

days on market $239,990 Active 2 DOM
2026-09-17

days on marketlisting id $239,990 Active 1 DOM
2026-09-15

days on market $239,990 Active 76 DOM
2026-09-14

days on market $239,990 Active 75 DOM
2026-09-13

days on market $239,990 Active 74 DOM
2026-09-12

days on market $239,990 Active 73 DOM
2026-09-11

days on market $239,990 Active 72 DOM
2026-09-06

days on market $239,990 Active 66 DOM
2026-09-04

days on market $239,990 Active 65 DOM
2026-09-03

days on market $239,990 Active 64 DOM
2026-08-31

days on market $239,990 Active 61 DOM
2026-08-30

days on market $239,990 Active 60 DOM
2026-08-29

days on market $239,990 Active 59 DOM
2026-08-28

days on market $239,990 Active 58 DOM
2026-08-27

days on market $239,990 Active 57 DOM
2026-08-25

days on market $239,990 Active 55 DOM
2026-08-24

days on market $239,990 Active 54 DOM
2026-08-23

days on market $239,990 Active 53 DOM
2026-08-22

days on market $239,990 Active 52 DOM
2026-08-21

days on market $239,990 Active 51 DOM
2026-08-20

days on market $239,990 Active 50 DOM
2026-08-19

days on market $239,990 Active 49 DOM
2026-08-18

days on market $239,990 Active 48 DOM
2026-08-17

days on market $239,990 Active 47 DOM
2026-08-16

days on market $239,990 Active 46 DOM
2026-08-15

days on market $239,990 Active 45 DOM
2026-08-15

pricedays on market $239,990 Active 44 DOM
2026-08-13

days on market $249,990 Active 43 DOM
2026-08-12

days on market $249,990 Active 42 DOM
2026-08-11

days on market $249,990 Active 41 DOM
2026-08-10

days on market $249,990 Active 40 DOM
2026-08-09

days on market $249,990 Active 39 DOM
2026-08-08

days on market $249,990 Active 38 DOM
2026-08-07

days on market $249,990 Active 37 DOM
2026-08-06

days on market $249,990 Active 36 DOM
2026-08-05

days on market $249,990 Active 35 DOM
2026-08-04

days on market $249,990 Active 34 DOM
2026-08-03

days on market $249,990 Active 33 DOM
2026-07-31

days on market $249,990 Active 30 DOM
2026-07-30

days on market $249,990 Active 29 DOM
2026-07-30

days on market $249,990 Active 28 DOM
2026-07-28

days on market $249,990 Active 27 DOM
2026-07-26

days on market $249,990 Active 25 DOM
2026-07-25

days on market $249,990 Active 24 DOM

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $23,710
− Mortgage interest: −$13,443
− Property taxes: −$3,600
− Insurance: −$1,200
− Repairs & maintenance: −$1,897
− Management: −$1,897
− HOA: −$1,500
− Depreciation: −$6,982
Taxable loss: −$6,808

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,634
After-tax cash flow: $-1,038/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.

Condition & rehab AI · 12 photos

Excellent 100/100 None rehab

This modern townhouse is move-in ready with excellent condition and a fresh, stylish interior. It offers a great location and is ready for immediate occupancy.

Value-add opportunities

Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
Resale Kitchen backsplash — A backsplash can add value and functionality to the kitchen space. ↑
Rental Smart home integration — Smart home features can attract tech-savvy tenants and add value to the property. ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Bryson Elementary C- SC #145/597 Nat'l #11,263/41,679 Middle Bryson Middle F SC #147/229 Nat'l #9,659/14,009 High Hillcrest High B+ SC #57/196 Nat'l #2,083/17,239

Schools (NCES district)

District: Greenville 01
NCES district ID: 4502310
Math proficiency: 44% ▼ -10.00%
Reading proficiency: 54% ▼ -2.00%
Median HH income: $49,596
Composite: 41.88/100
National rank: #3370
State rank: #10 of 80 in SC

A Composite livability gradescore 82/100

Livability — Fountain Inn

Score: 82/100
State rank: #4
US rank: #1162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Fountain Inn, SC
County: Greenville County · 574,580 people
City population: 22,907
Metro: Greenville-Anderson, SC
Population (ZIP): 22,907
Household income: $70,301
Rent vs Own: 26.2% rent · 73.8% own
Severe rent burden: 14% of renters

Population outlook (Greenville County) Hauer SSP2

Today (2025): 574,580 people
By 2030: 615,615 · +7.1%
By 2040: 695,373 · +21.0%
By 2050: 769,367 · +33.9%
By 2075: 933,296 · +62.4%
By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (66%)
Race & ethnicity: White 66% Black 18% Two or more races 10% Hispanic / Latino 10%
Hispanic origin (detail): Mexican 3% Puerto Rican 2%
Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
Foreign-born: 6% · Canada, Jamaica
Languages at home: 89% English-only · Spanish 9% Tagalog/Filipino 1%

Political lean MEDSL · Greenville

2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -100.45%
Current HPI: 250.5271
Rent YoY: ▲ 4.55%
Metro: Greenville-Anderson, SC
State GDP YoY: ▲ 4.51%
F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
Packaging	1	$7B
#370 Sonoco Products Hartsville $6.8B

Price history

-4.0% since first listed

6 events — show timeline

2026-09-16 Listed $239,990 Greater Greenville MLS
2026-09-15 Listing Removed — Greater Greenville MLS
2026-08-14 Price Changed $239,990 Greater Greenville MLS
2026-07-01 Listed $249,990 Greater Greenville MLS
2026-06-30 Listing Removed — Greater Greenville MLS
2026-05-07 Listed $249,990 Greater Greenville MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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