1491 Landrum Rd · Landrum, SC 28722

$239,000

3 bd · 1.0 ba · 1,371 sqft · SingleFamily · 15 Days on market

Built 1950 5.37 ac 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 +13.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 1491 Landrum Road, Tryon, NC — where location, opportunity, and usable land collide in one of the Foothills’ hottest growing corridors! Just minutes from the NC/SC line off I-26 near Landrum, SC — but tucked away on the desirable North Carolina side — this rare 5.38+/- acre tract offers mostly level, highly usable land with existing infrastructure already in place and endless potential ahead. ~~~ Nearby equestrian properties + possible access to CETA TRAIL systems, further add to the area’s appeal!!! Perfectly positioned in the heart of horse country, right past the Green Fields entrance on the same side of the road ~ you’re only minutes f

Key facts

• 5.37 acre lot
• Parking
• Built 1950

Property features AI

Finance

• Other: Property sits on 5.37 acres; Road surfaces include dirt, gravel, paved and other; property accessed via a publicly maintained road
• Financial info: No restrictions and short-term rentals allowed (MU zoning; verify with county zoning for changes of use)
• HOA & community: No HOA

Exterior

• Parking: Detached carport (1 car)
• Utilities: Well water (and other - see remarks); Septic system installed (and other - see remarks)
• Home design: Single-family residence; Site-built construction; One story; MU zoning
• Construction: Vinyl and wood siding; Other construction materials (see remarks); Crawl space foundation
• Exterior features: Cleared, level, open and wooded areas; Other exterior features (see remarks)

Interior

• Kitchen: No standard appliances listed
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 7 total rooms; Living room fireplace; Primary bedroom fireplace
• Laundry & utility: Main level laundry room and mud room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $4 ($46/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 $181k (24.2% below list).
• Recommended offer: $181k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#34 in SC, #4,802 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities D-, commute F, employment D-.
• Polk County Schools (rural): math 58% / reading 62% proficiency, ranked #32 of 178 in NC (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Tryon Elementary School (math 67% / reading 62%, grade B, #147 of 1,410 statewide, top 11%, 407 students, 99% FRL); Polk County Middle School (math 46% / reading 59%, grade C+, #94 of 475 statewide, top 20%, 475 students, 56% FRL); Polk County High School (math 72% / reading 67%, grade B, #121 of 535 statewide, top 24%, 579 students, 52% FRL) — zoned schools average 69% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 143 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Polk County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $239k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,165 (24.2% below list)

Questions for the listing agent

1. Built in 1950 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.76% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $595,014
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
937 Landrum Rd	0.55mi	3/2.0	1,440 (+5%)	22mo	$625,000	$434	43

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.95×
• Total profit: $130,299
• Equity at exit: $215,310

10-year hold

• IRR: 21.5%
• Equity multiple: 6.73×
• Total profit: $383,297
• Equity at exit: $464,324

Cash invested: $66,920 (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 28722

• Home prices YoY: 9.0%
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,812 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $4

Break-even live

Break-even rent $1,807

Max offer price $239,000

Occupancy floor 95%

Sensitivity live

Price	-10% $139	-5% $71	+0% $4	+5% $-64	+10% $-131
Rent	-10% $-139	-5% $-68	+0% $4	+5% $75	+10% $147
Rate	-1.0pp $124	-0.5pp $65	base $4	+0.5pp $-58	+1.0pp $-121

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-22
   days on market $239,000 Active 15 DOM
2. 2026-06-18
   days on market $239,000 Active 12 DOM
3. 2026-06-17
   days on market $239,000 Active 11 DOM
4. 2026-06-16
   days on market $239,000 Active 10 DOM
5. 2026-06-15
   days on market $239,000 Active 9 DOM
6. 2026-06-14
   days on market $239,000 Active 7 DOM
7. 2026-06-10
   days on market $239,000 Active 4 DOM
8. 2026-06-09
   days on market $239,000 Active 3 DOM
9. 2026-06-08
   days on market $239,000 Active 2 DOM
10. 2026-06-07
    statusdays on market $239,000 Active 1 DOM
11. 2026-06-03
    days on market $239,000 Coming Soon 17 DOM
12. 2026-06-02
    days on market $239,000 Coming Soon 16 DOM
13. 2026-06-01
    days on market $239,000 Coming Soon 15 DOM
14. 2026-05-31
    days on market $239,000 Coming Soon 14 DOM
15. 2026-05-30
    days on market $239,000 Coming Soon 13 DOM
16. 2026-05-18
    historical $239,000
17. 2025-12-11
    price $245,000
18. 2025-12-11
    price $245,000
19. 2025-11-19
    price $249,000
20. 2025-11-17
    price $249,000
21. 2025-10-21
    price $259,000
22. 2025-10-21
    price $259,000
23. 2025-10-14
    listed $274,000 Active
24. 2025-09-29
    listed $274,000 Active
25. 2025-09-17
    price $274,000
26. 2025-09-10
    historical
27. 2024-05-17
    soldstatus $145,000 Sold In-House
28. 2024-05-17
    soldstatus $145,000 Closed
29. 2024-05-17
    soldstatus $145,000
30. 2024-03-12
    status Pending-Continue to Show
31. 2024-02-24
    historical Active Under Contract
32. 2024-01-12
    listed $179,000 Active
33. 2023-12-20
    listed $179,000 Active

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $1,362 · $114/mo
• Expected delta: +$469/yr (+$39/mo · 52.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,740
• − Mortgage interest: −$13,388
• − Property taxes: −$893
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$6,953
• Taxable loss: −$4,168
• Est. tax savings @ 24.0%: +$1,000
• After-tax cash flow: $1,046/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: Polk County Schools
• NCES district ID: 3703720
• Math proficiency: 58% ▬ 0.00%
• Reading proficiency: 62% ▬ 0.00%
• Median HH income: $44,641
• Composite: 50.56/100
• National rank: #1847
• State rank: #32 of 178 in NC

Livability — Landrum

• Score: 74/100
• State rank: #34
• US rank: #4802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,998

Population outlook (Polk County) Hauer SSP2

• Today (2025): 20,043 people
• By 2030: 19,764 · -1.4%
• By 2040: 18,836 · -6.0%
• By 2050: 17,529 · -12.5%
• By 2075: 14,741 · -26.5%
• By 2100: 11,461 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 4% Slovak 4% Italian 4%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · German/W. Germanic 3% Spanish 3%

Political lean MEDSL · Polk

• 2024 margin: Strong R (+25.2) · D 37.0% · R 62.2%
• 2008→2024 swing: -10.1pp toward R · 2008: -15.1pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+25.7 2016: R+28.2 2012: R+21.5 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.76%
• Current HPI: 336.4252
• 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

+33.5% since first listed

18 events — show timeline

• 2026-05-18 Coming Soon $239,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-11 Price Changed $245,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-11 Price Changed $245,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $249,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-17 Price Changed $249,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-21 Price Changed $259,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-21 Price Changed $259,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-14 Listed $274,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-29 Listed $274,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $274,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-10 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2024-05-17 Sold (Public Records) $145,000 Public Records
• 2024-05-17 Sold (MLS) $145,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-17 Sold (MLS) $145,000 SPMLS
• 2024-03-12 Pending — SPMLS
• 2024-02-24 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2024-01-12 Listed $179,000 SPMLS
• 2023-12-20 Listed $179,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2025): $893 · -11.0% YoY. Source: county tax records.