656 S Center St · Spartanburg, SC 29301

$79,900

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 284 Days on market

Built 1971 9,147 sqft lot Est $153k · 48% under ↓ 20% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special – 3BR/1BA Brick Home with Major Potential! Attention investors and savvy buyers! Don’t miss this solid 3-bedroom, 1-bath brick home offering 975 square feet of opportunity. With a classic brick exterior and a functional floor plan, this property is a blank canvas ready for your vision, whether you’re looking to flip, hold as a rental, or renovate and occupy. Located in a stable area with strong rental demand, this home has great bones and is priced to sell. The lot provides a manageable yard and driveway parking. Bring your contractor and your creativity—this one needs some TLC but has tons of upside.

Key facts

• Strong rental demand
• Manageable yard
• Brick home

Tags

• BRICK HOME
• FUNCTIONAL FLOOR PLAN
• MANAGEABLE YARD
• DRIVEWAY PARKING
• STRONG RENTAL DEMAND

Property features AI

Finance

• Other: Lead-based paint and residential property disclosures required
• HOA & community: No HOA fees or community amenities

Exterior

• Parking: Driveway parking; Gravel driveway; No garage
• Utilities: Public water; Public sewer; Electric water heater; Public garbage pickup; No garage
• Home design: Single-story home; Approximately 50+ years old; Lot is half an acre or less
• Construction: Brick veneer (full) exterior; Composition shingle roof; Crawl space foundation; Outbuilding for storage
• Exterior features: Some storm doors; Tilt-out windows; Some trees on the lot

Interior

• Kitchen: Kitchen approximately 16 x 9; No appliances included
• Bedrooms: Primary bedroom on the main level; Main-level bedrooms: 3; Primary bedroom approximately 9 x 14; Second bedroom approximately 10 x 13; Third bedroom approximately 10 x 9
• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Gas available for heating; No cooling system
• Interior features: Laminate countertops; All window treatments remain; No fireplace
• Laundry & utility: Laundry on the first floor in the kitchen with washer connection

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.9% in Spartanburg — 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 76/100 on livability (#24 in SC, #3,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• 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: The Cleveland Academy of Leadership (math 28% / reading 22%, grade F, #447 of 597 statewide, top 76%, 463 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 25% at this address vs 38% district-wide (-12 pts) — the specific schools serving this property underperform the Spartanburg 07 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.6%/yr); 466 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 (-3.0% appreciation + 0.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.69% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.01%
• DSCR: 1.98
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $153,075
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
656 S Center St	0.00mi	3/1.0	975 (0%)	0mo	$60,000	$62	100
103 Anderson St	0.32mi	3/2.0	1,000 (+3%)	5mo	$208,000	$208	72
105 Westmoreland St	0.67mi	3/1.0	988 (+1%)	2mo	$177,000	$179	65
211 Edenbridge Ln	0.49mi	3/1.0	1,050 (+8%)	2mo	$189,000	$180	63
776 Wofford St	0.26mi	3/1.0	850 (-13%)	7mo	$95,000	$112	61
779 Saxon Ave	0.29mi	2/1.0 (-1)	1,111 (+14%)	3mo	$115,000	$104	56
760 Wofford St	0.26mi	3/1.0	840 (-14%)	12mo	$154,500	$184	54
784 Wofford St	0.26mi	3/1.0	840 (-14%)	13mo	$98,500	$117	54
318 Austin St	0.41mi	2/2.0 (-1)	1,026 (+5%)	12mo	$145,000	$141	53
234 Southstar St	0.51mi	2/1.0 (-1)	889 (-9%)	10mo	$160,000	$180	48
216 Fisher Ave	0.61mi	3/1.0	1,100 (+13%)	12mo	$173,000	$157	40
5 Smythe St St	0.74mi	2/1.0 (-1)	912 (-6%)	11mo	$41,500	$46	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.23×
• Total profit: $5,123
• Equity at exit: $11,913

10-year hold

• IRR: 12.1%
• Equity multiple: 1.80×
• Total profit: $17,869
• Equity at exit: $6,908

Cash invested: $22,372 (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 29301

• Home prices YoY: -25.3%
• Rents YoY: -2.6%
• Active inventory: 466
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,352 high
• Mortgage (P&I): −$419
• Tax from tax record: −$205 /mo · $2,463/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $344

Break-even live

Break-even rent $917

Max offer price $79,900

Occupancy floor 70%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
694 Saxon Ave Spartanburg, SC	3.0	1.0	1014	$1,300	$1.28	21d	1	0.28mi
321 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	21d	1	0.58mi
317 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	21d	1	0.58mi
100 Vanderbilt Ln Spartanburg, SC	1.0–2.0	1.0–2.0	787	$1,195	$1.52	21d	1	0.67mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,650	$1.65	13d	1	0.84mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	21d	1	0.93mi
408 Abner Rd Spartanburg, SC	2.0–3.0	2.0	996	$1,515	$1.52	21d	6	1.01mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	21d	1	1.04mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	21d	1	1.26mi
334 W Hampton Ave Unit 1 Spartanburg, SC	2.0	1.0	895	$1,100	$1.23	21d	1	1.43mi
111 Timothy St Spartanburg, SC	2.0	1.0	1100	$1,600	$1.45	21d	1	1.46mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$2,330	$2.02	13d	32	1.46mi
311 Powell Mill Rd Spartanburg, SC	2.0	1.0	675	$995	$1.47	21d	1	1.47mi

Listing history 11 events

1. 2026-05-15
   status Pending
2. 2026-05-07
   historical Contingency Contract
3. 2026-04-24
   status Active
4. 2026-03-20
   historical Contingency Contract
5. 2025-12-17
   price $79,900
6. 2025-10-23
   price $84,900
7. 2025-10-22
   status Active
8. 2025-10-14
   historical Contingency Contract
9. 2025-09-10
   price $89,900
10. 2025-08-28
    price $94,900
11. 2025-08-04
    listed $99,900 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: $2,463 · $205/mo
• Projected year-2 tax: $2,463 · $205/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,223
• − Mortgage interest: −$4,476
• − Property taxes: −$2,463
• − Insurance: −$1,197
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$2,324
• Taxable income: $3,166
• Est. tax owed @ 24.0%: −$760
• After-tax cash flow: $3,367/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 — Spartanburg

• Score: 76/100
• State rank: #24
• US rank: #3679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spartanburg, SC
• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 36,278
• Household income: $57,805
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1331.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 13% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 83% English-only · Spanish 10% Other Indo-European 3% Other Asian/Pacific 1%

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: ▼ -77.19%
• Current HPI: 228.4172
• Rent YoY: ▼ -2.64%
• Metro: Spartanburg, 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

-20.0% since first listed

11 events — show timeline

• 2026-05-15 Pending — Greater Greenville MLS
• 2026-05-07 Contingent — Greater Greenville MLS
• 2026-04-24 Relisted — Greater Greenville MLS
• 2026-03-20 Contingent — Greater Greenville MLS
• 2025-12-17 Price Changed $79,900 Greater Greenville MLS
• 2025-10-23 Price Changed $84,900 Greater Greenville MLS
• 2025-10-22 Relisted — Greater Greenville MLS
• 2025-10-14 Contingent — Greater Greenville MLS
• 2025-09-10 Price Changed $89,900 Greater Greenville MLS
• 2025-08-28 Price Changed $94,900 Greater Greenville MLS
• 2025-08-04 Listed $99,900 Greater Greenville MLS

Property tax history

+26.4%/yr

Latest (2025): $2,463 · +496.7% YoY. Source: county tax records.