906 Gladstone St · Florence, SC 29501

$129,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 23 Days on market

Built 1955 6,969 sqft lot

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.7/10.0
• Rent growth +3.7/5.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1 full bath home situated on a 0.16-acre lot in Florence offering convenience and potential. This 896 sqft property features a functional layout and is located just minutes from downtown Florence, shopping, dining, and everyday essentials. Convenient access to local parks, schools, and major roadways makes commuting simple while still enjoying nearby entertainment and recreation. Schedule your showing today!

Key facts

• Access to schools
• 0.16-acre lot
• 6,969 sq ft lot

Tags

• 0.16-ACRE LOT
• MINUTES FROM DOWNTOWN FLORENCE
• ACCESS TO LOCAL PARKS
• ACCESS TO SCHOOLS
• ACCESS TO MAJOR ROADWAYS

Property features AI

Finance

• Other: Zoning: RI
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story; Site-built
• Construction: Brick exterior; Crawl space foundation; Completed development
• Exterior features: Dirt and paved road access; Publicly maintained road

Interior

• Kitchen: Electric range; Exhaust hood; Microwave; Dishwasher; Refrigerator; Garbage disposal
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open floor plan (1 total room listed); Dishwasher, Disposal, Electric Range, Exhaust Hood, Microwave, Refrigerator
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/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 $125k (3.2% below list).
• Recommended offer: $125k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.5% in Florence — 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 62/100 on livability (#196 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, crime F, amenities F.
• Florence 01 (urban): math 29% / reading 47% proficiency, ranked #34 of 80 in SC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 328 active listings in the ZIP; 657 units permitted in Florence County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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.
• Current owner paid $11k; list at $129k implies a 1073% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,840 (3.2% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.97% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $52,864
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 Ingram St	0.26mi	2/1.0	945 (+6%)	23mo	$50,000	$53	60
515 W Pennsylvania St	0.46mi	2/1.0	1,023 (+14%)	1mo	$55,000	$54	54
506 Sanborn St	0.46mi	3/2.0 (+1)	950 (+6%)	13mo	$115,000	$121	49
517 N Mcqueen St	0.53mi	2/1.0	832 (-7%)	22mo	$85,000	$102	45
715 N Mcqueen St	0.58mi	3/1.0 (+1)	996 (+11%)	6mo	$54,000	$54	44
320 N Schofield St	0.55mi	3/1.0 (+1)	1,000 (+12%)	8mo	$165,000	$165	43
311 W Sumter St	0.59mi	3/1.0 (+1)	829 (-8%)	24mo	$48,750	$59	35

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 · 4.7% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-7,968
• Equity at exit: $19,234

10-year hold

• IRR: 5.6%
• Equity multiple: 1.44×
• Total profit: $16,073
• Equity at exit: $11,154

Cash invested: $36,120 (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 29501

• Rents YoY: 4.7%
• Active inventory: 328
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,248 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$87 /mo · $1,039/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $169

Break-even live

Break-even rent $1,034

Max offer price $129,000

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $129,000 Active 23 DOM
2. 2026-06-18
   days on market $129,000 Active 22 DOM
3. 2026-06-17
   days on market $129,000 Active 21 DOM
4. 2026-06-16
   days on market $129,000 Active 20 DOM
5. 2026-06-15
   days on market $129,000 Active 19 DOM
6. 2026-06-14
   days on market $129,000 Active 17 DOM
7. 2026-06-13
   days on market $129,000 Active 16 DOM
8. 2026-06-10
   days on market $129,000 Active 14 DOM
9. 2026-06-09
   days on market $129,000 Active 13 DOM
10. 2026-06-08
    days on market $129,000 Active 12 DOM
11. 2026-06-07
    days on market $129,000 Active 11 DOM
12. 2026-06-05
    days on market $129,000 Active 8 DOM
13. 2026-06-02
    days on market $129,000 Active 6 DOM
14. 2026-06-01
    days on market $129,000 Active 5 DOM
15. 2026-05-31
    days on market $129,000 Active 4 DOM
16. 2026-05-30
    days on market $129,000 Active 3 DOM
17. 2026-05-27
    listed $129,000 Active
18. 2025-09-23
    price $139,000
19. 2025-07-09
    price $143,000
20. 2025-06-05
    listed $149,900 Active
21. 2024-08-21
    status Pending
22. 2024-08-10
    historical Active Under Contract
23. 2024-07-10
    listed $144,900 Active
24. 2024-07-10
    listed $144,900 Active
25. 2023-11-27
    soldstatus Closed
26. 2023-07-14
    listed $20,000
27. 2023-01-27
    listed $30,000
28. 2000-08-31
    soldstatus $11,000

ⓘ 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: $1,039 · $87/mo
• Projected year-2 tax: $1,039 · $87/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,981
• − Mortgage interest: −$7,226
• − Property taxes: −$1,039
• − Insurance: −$645
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$3,753
• Taxable loss: −$79
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $2,052/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: Florence 01
• NCES district ID: 4502130
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $45,782
• Composite: 32.36/100
• National rank: #5737
• State rank: #34 of 80 in SC

Livability — Florence

• Score: 62/100
• State rank: #196
• US rank: #17076

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, SC
• County: Florence County · 93,345 people
• City population: 93,345
• Metro: Florence, SC
• Population (ZIP): 48,673
• Household income: $71,671
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1792.0

Population outlook (Florence County) Hauer SSP2

• Today (2025): 141,714 people
• By 2030: 142,121 · +0.3%
• By 2040: 141,344 · -0.3%
• By 2050: 139,478 · -1.6%
• By 2075: 132,275 · -6.7%
• By 2100: 118,374 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 56% Black 35% Asian 3% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Florence

• 2024 margin: Lean R (+8.0) · D 45.3% · R 53.3% · Other 1.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -3.2pp · 2024: -8.0pp
• All cycles: 2024: R+8.0 2020: R+2.3 2016: R+5.0 2012: R+0.5 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.85%
• Current HPI: 171.4154
• Rent YoY: ▲ 4.70%
• Metro: Florence, 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

+1072.7% since first listed

12 events — show timeline

• 2026-05-27 Listed $129,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $139,000 RAGPD
• 2025-07-09 Price Changed $143,000 RAGPD
• 2025-06-05 Listed $149,900 RAGPD
• 2024-08-21 Pending — Consolidated MLS
• 2024-08-10 Contingent — RAGPD
• 2024-07-10 Listed $144,900 RAGPD
• 2024-07-10 Listed $144,900 Consolidated MLS
• 2023-11-27 Sold (MLS) — RAGPD
• 2023-07-14 Listed $20,000 RAGPD
• 2023-01-27 Listed $30,000 RAGPD
• 2000-08-31 Sold (Public Records) $11,000 Public Records

Property tax history

+15.8%/yr

Latest (2025): $1,039 · +6.5% YoY. Source: county tax records.