407 Old Farm Rd · Spartanburg, SC 29539

$216,000

3 bd · 1.5 ba · 1,518 sqft · SingleFamily public records · 16 Days on market

Built 1971 0.39 ac lot Est $267k · 19% under

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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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Newly renovated home. Convenient location close to I85 and 26. Close to shopping and schools. Dist. 6 schools. Tri-level adorable 3BR/1.5BA home. Tri-Level featuring a large downstairs lower level area, could be a 4th Bedroom, man cave, she cave, loft or In-Law suite with a half Bath and separate entrance if needed. Updated kitchen with neutral colors, updated counters and floors. NEW ROOF. NEW WINDOWS. Upstairs are 3 bedrooms with ample closet space. Call today to schedule your appointment before this opportunity passes you by!

Key facts

• Expansive lot
• Backyard patio
• 0.39 acre lot

Tags

• NEWLY ADDED SIDE DRIVEWAY
• BACKYARD PATIO
• EXPANSIVE LOT

Property features AI

Finance

• HOA & community: No HOA fees; Pets allowed in the community

Exterior

• Parking: Driveway parking; Paved driveway; No garage
• Utilities: Public water; Gas water heater; Public sewer; Central forced cooling; Private garbage pickup
• Home design: Tri/split level home; Approximately 31–50 years old; Outbuilding for storage; Crawl space/slab foundation
• Construction: Partial brick veneer and vinyl siding exterior; Composition shingle roof
• Exterior features: Patio; Some storm doors; Tilt-out windows; Thermal windows; Corner lot; Approximate lot dimensions 93 x 181 x 82 x 183; Lot one-half acre or less

Interior

• Kitchen: Kitchen approx. 8 x 12; Dishwasher; Refrigerator; Electric cooktop
• Bedrooms: Three bedrooms on the main level; Primary bedroom with separate shower; Primary bedroom approx. 13 x 11; Second bedroom approx. 11 x 10; Third bedroom approx. 10 x 9; Fourth bedroom/room approx. 12 x 24
• Flooring: Luxury vinyl tile/plank flooring
• Bathrooms: One full bathroom on the main level; One half bathroom
• Heating & cooling: Natural gas heating
• Interior features: Cable available; Some window treatments; Laminate countertops; No fireplace; Other finished room(s) (see remarks)
• Laundry & utility: Laundry in basement — closet-style and walk-in options

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $216k.

Deal economics

• At list price, monthly cash flow is $149 ($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 $182k (15.6% below list).
• Recommended offer: $182k (15.6% below list) — sets the bar for 1% rule.

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 06 (suburban): math 33% / reading 42% proficiency, ranked #35 of 80 in SC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anderson Mill Elementary (math 52% / reading 48%, grade D+, #163 of 597 statewide, top 28%, 651 students, 64% FRL) — zoned schools average 64% FRL vs 48% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 38% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Spartanburg 06 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 1 active listings in the ZIP; 8 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

• In year one you build about $8k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $60k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $138k; list at $216k implies a 57% gain — meaningful room to come down on a strong offer.

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 $182,365 (15.6% below list)

Questions for the listing agent

1. Built in 1971 — 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. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $267,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Churchill Ave	0.46mi	3/2.0	1,424 (-6%)	1mo	$155,100	$109	65
207 Old Salem Rd	0.36mi	3/2.0	1,648 (+9%)	2mo	$270,000	$164	65
433 Litchfield Dr	0.34mi	3/2.0	1,704 (+12%)	1mo	$305,000	$179	61
2236 Davenport Court Ct	0.60mi	3/2.0	1,456 (-4%)	3mo	$259,930	$179	60
2245 Davenport Court Ct	0.63mi	3/2.0	1,456 (-4%)	2mo	$263,975	$181	60
2054 Lachaise Ln	0.63mi	3/2.0	1,576 (+4%)	3mo	$277,500	$176	60
221 Angel Rose Dr	0.33mi	3/2.0	1,295 (-15%)	2mo	$219,000	$169	56
2209 Davenport Court Ct	0.57mi	3/2.0	1,368 (-10%)	2mo	$260,065	$190	53
360 Prosperity Ln Lot 60	0.42mi	3/2.5	1,709 (+13%)	3mo	$244,000	$143	52
225 Georgetown Ct	0.72mi	3/2.0	1,400 (-8%)	2mo	$278,900	$199	50
376 Prosperity Ln Lot 64	0.45mi	4/2.5 (+1)	1,735 (+14%)	3mo	$258,114	$149	44
708 Larado Ct	0.72mi	2/2.0 (-1)	1,369 (-10%)	3mo	$215,000	$157	41

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: 10.2%
• Equity multiple: 1.59×
• Total profit: $35,417
• Equity at exit: $97,123

10-year hold

• IRR: 12.5%
• Equity multiple: 2.86×
• Total profit: $112,679
• Equity at exit: $149,678

Cash invested: $60,480 (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 29539

• Active inventory: 1
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$1,133
• Tax from tax record: −$69 /mo · $827/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $149

Break-even live

Break-even rent $1,635

Max offer price $216,000

Occupancy floor 87%

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: $54,000
• Closing costs: $6,480
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2180 Davenport Ct Moore, SC	3.0	2.0	1456	$2,000	$1.37	13d	1	0.50mi
6039 Haddington Dr Roebuck, SC	3.0	2.5	1913	$1,975	$1.03	21d	1	0.95mi
1071 Simmons Trce Moore, SC	3.0	2.5	1407	$1,725	$1.23	21d	1	1.33mi
1035 Simmons Trce Moore, SC	3.0	2.5	1407	$1,665	$1.18	21d	1	1.36mi
110 Southport Rd Spartanburg, SC	1.0–3.0	1.0–2.0	1044	$1,673	$1.60	13d	18	1.37mi
1308 Simmons Ridge Ln Moore, SC	3.0	2.5	1407	$1,725	$1.23	21d	1	1.39mi
807 Exley Ln Spartanburg, SC	2.0–3.0	2.5–3.0	1562	$1,764	$1.13	3d	10	1.43mi
954 Simmons Trce Moore, SC	3.0	2.5	1428	$1,665	$1.17	13d	1	1.44mi

Listing history 12 events

1. 2026-06-18
   days on market $216,000 Active 16 DOM
2. 2026-06-17
   days on market $216,000 Active 15 DOM
3. 2026-06-16
   days on market $216,000 Active 14 DOM
4. 2026-06-15
   days on market $216,000 Active 13 DOM
5. 2026-06-14
   days on market $216,000 Active 11 DOM
6. 2026-06-13
   days on market $216,000 Active 10 DOM
7. 2026-06-10
   days on market $216,000 Active 8 DOM
8. 2026-06-09
   days on market $216,000 Active 7 DOM
9. 2026-06-08
   days on market $216,000 Active 6 DOM
10. 2026-06-07
    days on market $216,000 Active 5 DOM
11. 2026-06-03
    remarks 632-char remark
12. 2026-06-03
    listed $216,000 Active 1 DOM

ⓘ 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: $827 · $69/mo
• Projected year-2 tax: $1,231 · $103/mo
• Expected delta: +$404/yr (+$34/mo · 48.9%)

ⓘ 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 ≥105°F today · 16 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,884
• − Mortgage interest: −$12,099
• − Property taxes: −$827
• − Insurance: −$1,080
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$6,284
• Taxable loss: −$1,908
• Est. tax savings @ 24.0%: +$458
• After-tax cash flow: $2,246/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 06
• NCES district ID: 4503630
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $46,110
• Composite: 32.02/100
• National rank: #5827
• State rank: #35 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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+622.4% since first listed

16 events — show timeline

• 2026-06-02 Listed $216,000 Greater Greenville MLS
• 2025-11-07 Listing Removed — Greater Greenville MLS
• 2025-08-07 Relisted — Greater Greenville MLS
• 2025-07-27 Contingent — Greater Greenville MLS
• 2025-06-06 Listed $223,000 Greater Greenville MLS
• 2020-08-05 Sold (Public Records) $138,000 Public Records
• 2020-07-31 Sold (MLS) $138,000 SPMLS
• 2020-06-16 Contingent — SPMLS
• 2020-06-02 Price Changed $138,000 SPMLS
• 2020-06-01 Relisted — SPMLS
• 2020-05-01 Contingent — SPMLS
• 2020-04-10 Price Changed $134,900 SPMLS
• 2020-03-21 Price Changed $139,900 SPMLS
• 2020-03-20 Listed $128,000 SPMLS
• 2004-05-24 Sold (Public Records) $78,000 Public Records
• 1985-06-01 Sold (Public Records) $29,900 Public Records

Property tax history

-5.8%/yr

Latest (2025): $827 · -28.5% YoY. Source: county tax records.