13 Montgomery St · Drayton, SC 29333

$149,900

3 bd · 1.0 ba · 1,265 sqft · SingleFamily · 211 Days on market

0.34 ac lot Est $205k · 27% under ↓ 14% since listing

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Appreciation +4.5/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Price improvement! Rare opportunity to own a piece of Drayton history. This classic double shotgun-style home, built in 1905, has been held by one family for approximately 120 years, offering a sense of continuity that is increasingly hard to find. Located near the revitalized Drayton Mills community—once a cornerstone of the textile era and now home to dining, trails, and mixed-use redevelopment—this property blends heritage, character, and convenience. The traditional shotgun layout reflects its early-20th-century architectural roots, maintaining the charm and structure of its original design. Set on a 0.34-acre lot, the backyard has been thoughtfully cultivated over the years

Key facts

• Cultivated backyard
• Goldfish pond
• Outdoor retreat

Tags

• DOUBLE SHOTGUN STYLE HOME
• CULTIVATED BACKYARD
• GOLDFISH POND
• SHE SHED
• CHICKEN COOP
• OUTDOOR RETREAT

Property features AI

Finance

• Other: Lead based paint discovery required; Residential property disclosure required
• HOA & community: No HOA fees

Exterior

• Parking: Attached carport (1-car); Additional carport workshop; Paved driveway
• Utilities: Public water; Public sewer; Public garbage pickup; Natural gas available; Electric service
• Home design: Single-story residence; Approximate age 50+ years; Lot dimensions approx. 101 x 150 x 101 x 149
• Construction: Vinyl siding exterior; Composition shingle roof; Crawl space foundation; Attic storage; Outbuilding with electricity
• Exterior features: Enclosed porch; Covered back porch; Fenced yard; Level lot with some trees

Interior

• Kitchen: Kitchen approx. 14 x 10; Dining area approx. 10 x 10; Oven (gas); Stand-alone gas range; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on the main level; Primary bedroom approx. 12 x 12; Second bedroom approx. 12 x 10; Third bedroom approx. 8 x 10; Three bedrooms on the main level
• Flooring: Carpet; Laminate flooring
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Natural gas heating; Central forced cooling; Gas water heater
• Interior features: Smoke detector
• Laundry & utility: First-floor laundry with walk-in space; Washer included; Dryer included (gas hookup)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.3% in Drayton — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Spartanburg 07 (urban): math 34% / reading 41% proficiency, ranked #39 of 80 in SC (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Drayton Mills Elementary (math 20% / reading 22%, grade F, #488 of 597 statewide, top 82%, 751 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 38% district-wide (-16 pts) — the specific schools serving this property underperform the Spartanburg 07 average; the district grade overstates school quality for this exact location.
• Market conditions: 6 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $1k of loan paydown is wiped out by about $1k 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.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $204,930
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Milliken Ave	0.30mi	3/2.0	1,371 (+8%)	3mo	$217,000	$158	66
170 Milliken Ave	0.30mi	3/2.0	1,371 (+8%)	3mo	$222,500	$162	65
166 Milliken Ave	0.30mi	3/2.0	1,400 (+11%)	2mo	$222,000	$159	62
190 Skyuka St	0.26mi	2/2.0 (-1)	1,183 (-6%)	7mo	$227,500	$192	62
103 Ashley St	0.43mi	3/2.0	1,304 (+3%)	12mo	$212,500	$163	60
1099 Maryland Ave	0.37mi	3/2.0	1,201 (-5%)	14mo	$199,000	$166	59
1462 Maryland Ave	0.71mi	3/1.0	1,270 (+0%)	11mo	$195,000	$154	57
1555 White Oak St	0.50mi	3/2.0	1,163 (-8%)	13mo	$219,900	$189	48
409 Gentry St	0.74mi	3/1.0	1,196 (-6%)	14mo	$158,000	$132	44

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

Projected returns pro-forma

-0.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.08×
• Total profit: $3,231
• Equity at exit: $36,687

10-year hold

• IRR: 8.2%
• Equity multiple: 1.80×
• Total profit: $33,665
• Equity at exit: $38,955

Cash invested: $41,972 (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 29333

• Home prices YoY: -0.3%
• Active inventory: 6
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,590 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $220

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 81%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Drayton Crossing Dr Drayton, SC	1.0–2.0	1.0–2.0	1054	$1,728	$1.64	14d	21	0.15mi
484 Mill Park Way Unit 1 Spartanburg, SC	3.0	3.0	1560	$2,200	$1.41	14d	1	0.40mi
225 Milliken St Spartanburg, SC	1.0–3.0	1.0–2.0	1020	$2,099	$2.06	14d	20	0.41mi
1214 Spring St Spartanburg, SC	3.0	1.0	1362	$1,395	$1.02	14d	1	0.44mi
1000 E Main St Spartanburg, SC	2.0	1.5	938	$950	$1.01	14d	2	0.44mi
200 Heywood Ave Spartanburg, SC	1.0–2.0	1.0–2.0	829	$1,425	$1.72	14d	14	0.49mi
3900 Taggart Dr Spartanburg, SC	1.0–3.0	1.0–2.0	854	$1,295	$1.52	21d	3	0.72mi
490 Barnwell Rd Spartanburg, SC	3.0	2.0	1575	$1,706	$1.08	14d	1	0.79mi
128 Oakwood Ave Spartanburg, SC	3.0	2.5	1580	$1,708	$1.08	14d	1	0.97mi
320 Spruce St Spartanburg, SC	1.0–3.0	1.0–1.5	830	$1,150	$1.38	21d	1	0.97mi
692 Southern St Spartanburg, SC	2.0	1.0	1000	$1,100	$1.10	14d	1	0.98mi
163 Avant St Spartanburg, SC	3.0	2.5	1580	$1,708	$1.08	21d	1	0.99mi
124 Lucky Penny Ln Spartanburg, SC	3.0	2.5	1580	$1,708	$1.08	21d	1	0.99mi
119 Bonner Rd Spartanburg, SC	2.0	1.0	900	$845	$0.94	21d	1	1.01mi
2096 E Main St Spartanburg, SC	1.0–3.0	1.0–1.5	859	$1,375	$1.60	14d	25	1.16mi
121 Garner Rd Spartanburg, SC	1.0–2.0	1.0–2.0	940	$1,465	$1.56	21d	32	1.44mi

Listing history 17 events

1. 2026-06-18
   days on market $149,900 Active 211 DOM
2. 2026-06-17
   days on market $149,900 Active 210 DOM
3. 2026-06-16
   days on market $149,900 Active 209 DOM
4. 2026-06-15
   days on market $149,900 Active 208 DOM
5. 2026-06-14
   days on market $149,900 Active 206 DOM
6. 2026-06-13
   days on market $149,900 Active 205 DOM
7. 2026-06-10
   days on market $149,900 Active 203 DOM
8. 2026-06-09
   days on market $149,900 Active 202 DOM
9. 2026-06-08
   days on market $149,900 Active 201 DOM
10. 2026-06-07
    days on market $149,900 Active 200 DOM
11. 2026-06-02
    days on market $149,900 Active 195 DOM
12. 2026-06-01
    days on market $149,900 Active 194 DOM
13. 2026-05-31
    days on market $149,900 Active 193 DOM
14. 2026-05-30
    days on market $149,900 Active 192 DOM
15. 2026-03-18
    price $149,900
16. 2026-02-08
    price $169,900
17. 2025-11-19
    listed $174,999 Active

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,080
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$4,361
• Taxable income: $271
• Est. tax owed @ 24.0%: −$65
• After-tax cash flow: $2,577/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 07
• NCES district ID: 4503660
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $35,825
• Composite: 31.04/100
• National rank: #6087
• State rank: #39 of 80 in SC

Livability — Drayton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Drayton, SC
• City population: 227
• Population (ZIP): 227

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 (75%)
• Race & ethnicity: White 75% Black 25%

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: ▼ -0.93%
• Current HPI: 278.0086
• 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

-14.3% since first listed

3 events — show timeline

• 2026-03-18 Price Changed $149,900 Greater Greenville MLS
• 2026-02-08 Price Changed $169,900 Greater Greenville MLS
• 2025-11-19 Listed $174,999 Greater Greenville MLS