1015 N Granard St · Gaffney, SC 29341

$33,280

2 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 43 Days on market

Built 1965 0.34 ac lot ↓ 49% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in the heart of downtown Gaffney! This 2-bedroom, 1-bath home sits on a nice, level lot and offers great potential for renovation or rental income. With a little vision and TLC, this property could be transformed into a great investment or starter home. Conveniently located near local shops, dining, and amenities, the location adds to its appeal. Property is being sold as-is. Don’t miss this opportunity to bring your ideas to life!

Key facts

• Near dining
• Level lot
• Near local shops

Tags

• HEART OF DOWNTOWN GAFFNEY
• LEVEL LOT
• NEAR LOCAL SHOPS
• NEAR DINING
• NEAR AMENITIES

Property features AI

Finance

• Other: Property tax listed (not included as financial detail per instructions)

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story; Residential property
• Construction: Wood siding; Composition roof; Built above grade (1,304 finished area)
• Exterior features: Porch; Level lot

Interior

• Kitchen: No appliances included
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (see remarks for details); Has cooling (type listed as other)
• Interior features: Laminate counters; Carpet and laminate flooring; No built-in appliances
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $32k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.0% vs local median 2.6% in Gaffney — 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 66/100 on livability (#112 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, crime D, commute F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John E. Ewing Middle (math 18% / reading 30%, grade F, #167 of 229 statewide, top 74%, 486 students, 100% FRL); Gaffney High (math 40% / reading 75%, grade C, #116 of 196 statewide, top 59%, 1,838 students, 84% FRL) — zoned schools average 92% FRL vs 64% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 196 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $230 of loan paydown is wiped out by about $998 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

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 $32,281 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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. 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.
7. 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.
8. 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: 3.03% ✓
• Cap rate: 27.01%
• Cash-on-cash: 73.99%
• DSCR: 4.29
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $166,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Martin St St	0.18mi	3/2.0 (+1)	1,302 (-0%)	4mo	$167,000	$128	79
508 W Frederick St	0.46mi	2/1.0	1,316 (+1%)	6mo	$72,000	$55	72
109 Washington Ave	0.61mi	3/1.0 (+1)	1,300 (-0%)	1mo	$118,500	$91	65
608 Littlejohn St	0.31mi	3/2.0 (+1)	1,215 (-7%)	1mo	$170,000	$140	64
205 Magnolia St	0.42mi	3/2.0 (+1)	1,199 (-8%)	1mo	$170,850	$142	57
401 Elm St	0.45mi	3/1.0 (+1)	1,374 (+5%)	10mo	$75,000	$55	56
504 Railroad Ave Ave	0.44mi	2/1.0	1,110 (-15%)	3mo	$75,000	$68	52
224 Hill St	0.65mi	2/1.0	1,180 (-10%)	6mo	$65,000	$55	49
205 E Robinson St	0.37mi	3/2.0 (+1)	1,452 (+11%)	7mo	$199,900	$138	49
817 W Smith St	0.71mi	3/2.0 (+1)	1,222 (-6%)	3mo	$234,900	$192	45
823 W Smith Street St	0.73mi	2/1.0	1,440 (+10%)	11mo	$160,000	$111	40
317 Sycamore St St	0.75mi	3/2.0 (+1)	1,447 (+11%)	1mo	$189,000	$131	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 73.8%
• Equity multiple: 4.35×
• Total profit: $31,210
• Equity at exit: $4,962

10-year hold

• IRR: 77.6%
• Equity multiple: 8.98×
• Total profit: $74,338
• Equity at exit: $2,877

Cash invested: $9,318 (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 29341

• Home prices YoY: -24.1%
• Active inventory: 196
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$175
• Tax from tax record: −$33 /mo · $395/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $575

Break-even live

Break-even rent $280

Max offer price $33,280

Occupancy floor 38%

Sensitivity live

Price	-10% $593	-5% $584	+0% $575	+5% $565	+10% $556
Rent	-10% $495	-5% $535	+0% $575	+5% $614	+10% $654
Rate	-1.0pp $591	-0.5pp $583	base $575	+0.5pp $566	+1.0pp $557

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: $8,320
• Closing costs: $998
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 S Oliver St Gaffney, SC	1.0–2.0	1.0	900	$955	$1.06	17d	5	0.98mi
112 Martin Ln Gaffney, SC	2.0	1.5	921	$975	$1.06	6d	1	1.45mi

Listing history 5 events

1. 2026-05-15
   status Pending
2. 2026-04-01
   listed $33,280 Active
3. 2024-04-24
   historical
4. 2024-04-21
   listed $55,000 Active
5. 2005-11-09
   soldstatus $65,000

ⓘ 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: $395 · $33/mo
• Projected year-2 tax: $395 · $33/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,089
• − Mortgage interest: −$1,864
• − Property taxes: −$395
• − Insurance: −$166
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$968
• Taxable income: $6,761
• Est. tax owed @ 24.0%: −$1,623
• After-tax cash flow: $5,272/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: Cherokee 01
• NCES district ID: 4501500
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $34,262
• Composite: 28.39/100
• National rank: #6768
• State rank: #47 of 80 in SC

Livability — Gaffney

• Score: 66/100
• State rank: #112
• US rank: #11549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gaffney, SC
• County: Cherokee County · 41,410 people
• City population: 41,410
• Metro: Gaffney, SC
• Population (ZIP): 20,647
• Household income: $58,029
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 452.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 58,602 people
• By 2030: 59,336 · +1.3%
• By 2040: 60,266 · +2.8%
• By 2050: 60,314 · +2.9%
• By 2075: 59,276 · +1.2%
• By 2100: 53,788 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -29.3pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+43.8 2016: R+41.7 2012: R+29.3 2008: R+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.62%
• Current HPI: 203.8038
• Rent YoY: —
• Metro: Gaffney, 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

-48.8% since first listed

5 events — show timeline

• 2026-05-15 Pending — SPMLS
• 2026-04-01 Listed $33,280 SPMLS
• 2024-04-24 Delisted — SPMLS
• 2024-04-21 Listed $55,000 SPMLS
• 2005-11-09 Sold (Public Records) $65,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $395 · +8.9% YoY. Source: county tax records.