303 Inman Rd · Lyman, SC 29365

$224,900

3 bd · 1.0 ba · 1,477 sqft · SingleFamily public records · 66 Days on market

Built 1963 0.46 ac lot Est $261k · 14% under

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Why this score? — see what drove the D+ 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 +14.2/30.0
• ARV discount +13.8/15.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1960s brick ranch offering the potential for a three-bedroom, one-bath layout. Features a one-car garage and sits on just under an acre in the heart of Lyman, South Carolina. The property also includes a carport and storage shed, with no HOA restrictions.

Key facts

• One car garage
• Carport
• Storage shed

Tags

• ONE CAR GARAGE
• CARPORT
• STORAGE SHED
• NO HOA RESTRICTIONS

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Attached 1-car garage; Circular paved asphalt driveway
• Utilities: Public water; Electric water heater; Septic sewer; Private garbage pickup; Attached garage (power available)
• Home design: One-story residential property; Built around 1963; Crawl space foundation; Lead-based paint and residential property disclosures required
• Construction: Brick veneer exterior; Architectural-style roof; Crawl space foundation; Approximately built in 1963
• Exterior features: Front porch; Fenced yard; Level to gently sloped lot with some trees; Underground utilities; Brick veneer (full); Architectural roof

Interior

• Kitchen: Wall oven
• Bedrooms: Three bedrooms on the main level; Primary bedroom with full bath; Primary bedroom approx. 13 x 13; Second bedroom approx. 13 x 13; Third bedroom approx. 13 x 10
• Flooring: Carpet; Ceramic tile; Parquet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric heating; Forced air; Heat pump (heating and cooling); Central forced cooling
• Interior features: Built-in bookcase; Ceiling fans; Window treatments remain; Wood-burning fireplace; Sun room; Attic storage
• Laundry & utility: Laundry sink on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $38 ($459/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 $174k (22.7% below list).
• Recommended offer: $174k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.6% in Lyman — 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 68/100 on livability (#83 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lyman Elementary (math 51% / reading 52%, grade C-, #155 of 597 statewide, top 26%, 835 students, 70% FRL); D. R. Hill Middle (math 28% / reading 38%, grade F, #116 of 229 statewide, top 51%, 702 students, 80% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL) — zoned schools average 69% FRL vs 39% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 222 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $90k; list at $225k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,830 (22.7% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $261,429
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Lawrence St	0.40mi	3/1.0	1,600 (+8%)	3mo	$203,500	$127	65
12 Lawrence St	0.58mi	2/2.0 (-1)	1,465 (-1%)	0mo	$250,000	$171	62
151 Lynn Dr	0.72mi	3/1.5	1,488 (+1%)	2mo	$230,000	$155	62
108 Edgewood St	0.50mi	3/2.0	1,534 (+4%)	9mo	$272,000	$177	59
148 Peterson Dr	0.68mi	3/2.0	1,404 (-5%)	2mo	$250,000	$178	54
439 James J Newman Blvd	0.69mi	3/2.0	1,441 (-2%)	13mo	$245,000	$170	49
101 Pinewood Dr	0.50mi	3/1.5	1,344 (-9%)	15mo	$249,000	$185	48
7 Lawrence St	0.44mi	2/1.0 (-1)	1,324 (-10%)	15mo	$216,000	$163	45
109 Northview St	0.52mi	3/2.0	1,331 (-10%)	16mo	$258,500	$194	42
760 Fort Prince Blvd	0.60mi	3/2.0	1,350 (-9%)	14mo	$318,000	$236	42
236 Newman Dr	0.71mi	3/2.0	1,563 (+6%)	16mo	$285,000	$182	40
12323 Greenville Hwy Hwy	0.64mi	3/1.0	1,272 (-14%)	14mo	$160,000	$126	36

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-34,114
• Equity at exit: $33,533

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-27,006
• Equity at exit: $19,445

Cash invested: $62,972 (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 29365

• Home prices YoY: -18.1%
• Active inventory: 222
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,738 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$62 /mo · $742/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $38

Break-even live

Break-even rent $1,690

Max offer price $224,900

Occupancy floor 93%

Sensitivity live

Price	-10% $166	-5% $102	+0% $38	+5% $-25	+10% $-89
Rent	-10% $-99	-5% $-30	+0% $38	+5% $107	+10% $176
Rate	-1.0pp $152	-0.5pp $95	base $38	+0.5pp $-20	+1.0pp $-79

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	22d	1	0.78mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	15d	1	0.80mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	22d	1	0.80mi
610 Universal Dr Lyman, SC	1.0–3.0	1.0–2.5	1060	$1,799	$1.70	15d	11	0.86mi
Angelic Pl Wellford, SC	3.0	2.5	1280	$1,520	$1.19	22d	2	1.14mi
Paradise Pl Wellford, SC	2.0–3.0	2.5	1135	$1,595	$1.41	22d	2	1.25mi
244 Halo Dr Wellford, SC	2.0–3.0	2.5	1137	$1,595	$1.40	22d	4	1.45mi
Halo Dr Wellford, SC	2.0	1.5	995	$1,295	$1.30	15d	1	1.50mi

Listing history 26 events

1. 2026-06-22
   days on market $224,900 Active 66 DOM
2. 2026-06-18
   price $224,900 Active 63 DOM
3. 2026-06-18
   days on market $229,900 Active 63 DOM
4. 2026-06-17
   days on market $229,900 Active 62 DOM
5. 2026-06-16
   days on market $229,900 Active 61 DOM
6. 2026-06-15
   days on market $229,900 Active 60 DOM
7. 2026-06-14
   days on market $229,900 Active 58 DOM
8. 2026-06-13
   days on market $229,900 Active 57 DOM
9. 2026-06-10
   days on market $229,900 Active 55 DOM
10. 2026-06-09
    days on market $229,900 Active 54 DOM
11. 2026-06-08
    days on market $229,900 Active 53 DOM
12. 2026-06-07
    days on market $229,900 Active 52 DOM
13. 2026-06-02
    days on market $229,900 Active 47 DOM
14. 2026-06-01
    days on market $229,900 Active 46 DOM
15. 2026-05-31
    days on market $229,900 Active 45 DOM
16. 2026-05-30
    days on market $229,900 Active 44 DOM
17. 2026-05-21
    price $229,900

    Show marketing remark (264 chars)

    Charming 1960s brick ranch offering the potential for a three-bedroom, one-bath layout. Features a one-car garage and sits on just under an acre in the heart of Lyman, South Carolina. The property also includes a carport and storage shed, with no HOA restrictions.

18. 2026-05-21
    price $229,900 264-char remark

    Show marketing remark (264 chars)

    Charming 1960s brick ranch offering the potential for a three-bedroom, one-bath layout. Features a one-car garage and sits on just under an acre in the heart of Lyman, South Carolina. The property also includes a carport and storage shed, with no HOA restrictions.

19. 2026-04-16
    listed $235,000 Active 264-char remark

    Show marketing remark (264 chars)

    Charming 1960s brick ranch offering the potential for a three-bedroom, one-bath layout. Features a one-car garage and sits on just under an acre in the heart of Lyman, South Carolina. The property also includes a carport and storage shed, with no HOA restrictions.

20. 2026-04-16
    listed $235,000 Active

    Show marketing remark (264 chars)

    Charming 1960s brick ranch offering the potential for a three-bedroom, one-bath layout. Features a one-car garage and sits on just under an acre in the heart of Lyman, South Carolina. The property also includes a carport and storage shed, with no HOA restrictions.

21. 2009-11-25
    soldstatus $90,000
22. 2009-11-09
    soldstatus $90,000 452-char remark

    Show marketing remark (452 chars)

    Mid-century modern! Excellent condition - original vintage bathroom with heated floors. Mid 60's style brick fireplace with built- ins and quality wood paneling, hardwood floors throughout, new vinyl in kitchen, dining area and sunroom. Real wood cabinets in kitchen, all faucets are new. New roof - 2006, HVAC - 2001, 40 gal. Water heater - 2001. Hardwood floors under carpet in back bedroom. All rooms in house are large. Storage outbuilding conveys.

23. 2009-11-09
    soldstatus $90,000

    Show marketing remark (452 chars)

    Mid-century modern! Excellent condition - original vintage bathroom with heated floors. Mid 60's style brick fireplace with built- ins and quality wood paneling, hardwood floors throughout, new vinyl in kitchen, dining area and sunroom. Real wood cabinets in kitchen, all faucets are new. New roof - 2006, HVAC - 2001, 40 gal. Water heater - 2001. Hardwood floors under carpet in back bedroom. All rooms in house are large. Storage outbuilding conveys.

24. 2009-10-17
    historical
25. 2009-09-27
    listed $92,900 452-char remark

    Show marketing remark (452 chars)

    Mid-century modern! Excellent condition - original vintage bathroom with heated floors. Mid 60's style brick fireplace with built- ins and quality wood paneling, hardwood floors throughout, new vinyl in kitchen, dining area and sunroom. Real wood cabinets in kitchen, all faucets are new. New roof - 2006, HVAC - 2001, 40 gal. Water heater - 2001. Hardwood floors under carpet in back bedroom. All rooms in house are large. Storage outbuilding conveys.

26. 2009-09-27
    listed $92,900

    Show marketing remark (452 chars)

    Mid-century modern! Excellent condition - original vintage bathroom with heated floors. Mid 60's style brick fireplace with built- ins and quality wood paneling, hardwood floors throughout, new vinyl in kitchen, dining area and sunroom. Real wood cabinets in kitchen, all faucets are new. New roof - 2006, HVAC - 2001, 40 gal. Water heater - 2001. Hardwood floors under carpet in back bedroom. All rooms in house are large. Storage outbuilding conveys.

ⓘ 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: $742 · $62/mo
• Projected year-2 tax: $1,282 · $107/mo
• Expected delta: +$540/yr (+$45/mo · 72.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $20,860
• − Mortgage interest: −$12,598
• − Property taxes: −$742
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$6,543
• Taxable loss: −$3,485
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $1,296/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 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

Livability — Lyman

• Score: 68/100
• State rank: #83
• US rank: #9705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• City population: 14,068
• Metro: Spartanburg, SC
• Population (ZIP): 14,068
• Household income: $76,966
• Rent vs Own: 13.1% rent · 86.9% own
• Severe rent burden: 234.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Serbian 4% Slovak 2%
• Foreign-born: 9% · Canada, Philippines, Jamaica
• Languages at home: 83% English-only · Russian/Polish/Slavic 8% Spanish 7% 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: ▼ -56.35%
• Current HPI: 254.6167
• Rent YoY: —
• 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

+147.5% since first listed

10 events — show timeline

• 2026-05-21 Price Changed $229,900 Greater Greenville MLS
• 2026-05-21 Price Changed $229,900 SPMLS
• 2026-04-16 Listed $235,000 SPMLS
• 2026-04-16 Listed $235,000 Greater Greenville MLS
• 2009-11-25 Sold (Public Records) $90,000 Public Records
• 2009-11-09 Sold (MLS) $90,000 Greater Greenville MLS
• 2009-11-09 Sold (MLS) $90,000 SPMLS
• 2009-10-17 Listing Removed — Greater Greenville MLS
• 2009-09-27 Listed $92,900 Greater Greenville MLS
• 2009-09-27 Listed $92,900 SPMLS

Property tax history

+3.3%/yr

Latest (2025): $742 · +1.4% YoY. Source: county tax records.