124 Childress Rd · Converse, SC 29307

$25,000

2 bd · 1.5 ba · 2,112 sqft · SingleFamily public records · 231 Days on market

Built 1988 0.96 ac lot ↓ 44% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Rent growth +2.7/5.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

Key facts

• 0.96 acre lot
• Built 1988
• Listed 231 days

Property features AI

Exterior

• Parking: See remarks for parking details
• Home design: Single family residence; Two-story home; Residential property
• Construction: Vinyl siding; See remarks for foundation details; See remarks for roof details
• Exterior features: Level and wooded lot

Interior

• Bathrooms: 2 full bathrooms
• Interior features: See remarks for additional interior details

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 45.5% vs local median 3.9% in Converse — 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 54/100 on livability (#328 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, employment B; Watch: amenities F, commute F, housing F.
• Spartanburg 03 (suburban): math 39% / reading 49% proficiency, ranked #28 of 80 in SC (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cannons Elementary (math 52% / reading 42%, grade D-, #209 of 597 statewide, top 36%, 393 students, 100% FRL); Clifdale Middle (695 students, 78% FRL); Broome High (math 42% / reading 80%, grade C+, #105 of 196 statewide, top 54%, 825 students, 68% FRL) — zoned schools average 82% FRL vs 57% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 269 active listings in the ZIP; 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 $173 of loan paydown is wiped out by about $750 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 + 0.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $40k (62%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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?
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: 5.01% ✓
• Cap rate: 45.49%
• Cash-on-cash: 140.00%
• DSCR: 7.23
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.64% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.44×
• Total profit: $45,076
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 14.56×
• Total profit: $94,932
• Equity at exit: $2,162

Cash invested: $7,000 (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 29307

• Home prices YoY: -17.7%
• Rents YoY: 0.6%
• Active inventory: 269
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,252 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $817

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 30%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-03
   statusdays on market $25,000 Pending 231 DOM
2. 2026-06-02
   days on market $25,000 Active 230 DOM
3. 2026-06-01
   days on market $25,000 Active 229 DOM
4. 2026-05-31
   days on market $25,000 Active 228 DOM
5. 2026-05-30
   days on market $25,000 Active 227 DOM
6. 2026-05-07
   status Active
7. 2026-05-07
   price $25,000
8. 2026-04-08
   status Pending
9. 2026-03-10
   price $45,000
10. 2026-02-05
    price $50,000
11. 2025-11-25
    price $55,000
12. 2025-09-17
    listed $65,000 Active
13. 2019-02-12
    soldstatus $58,000 Sold In-House 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

14. 2019-01-15
    status Pending 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

15. 2018-12-15
    price $59,900 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

16. 2018-11-17
    price $67,500 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

17. 2018-10-20
    price $74,900 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

18. 2018-09-20
    price $99,900 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

19. 2018-09-06
    price $109,900 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

20. 2018-08-09
    listed $117,500 Active 407-char remark

    Show marketing remark (407 chars)

    Traditional style home with 2 bedrooms and 2 baths. Features include a large living area, den, dining room, kitchen, and more. This property also has 2 operational kitchens that are perfect for guest or 2 families! You will love the large rear deck, covered porch, and mature trees. Several 3rd bedroom options! This is a Fannie Mae HomePath property. Contact Skip Kirsch to see this great property today.

21. 2006-12-08
    soldstatus $69,000
22. 2006-10-26
    historical
23. 2006-09-15
    listed $59,900
24. 2006-09-15
    listed $59,900
25. 1994-12-01
    soldstatus $45,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,029
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$727
• Taxable income: $9,997
• Est. tax owed @ 24.0%: −$2,399
• After-tax cash flow: $7,401/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 03
• NCES district ID: 4503540
• Math proficiency: 39% ▼ -5.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $36,898
• Composite: 36.52/100
• National rank: #4645
• State rank: #28 of 80 in SC

Livability — Converse

• Score: 54/100
• State rank: #328
• US rank: #24132

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment B Housing F 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: 293
• Metro: Spartanburg, SC
• Population (ZIP): 19,115
• Household income: $65,850
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 438.0

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 20% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -52.58%
• Current HPI: 244.9855
• Rent YoY: ▲ 0.64%
• 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

-44.4% since first listed

20 events — show timeline

• 2026-05-07 Relisted — SPMLS
• 2026-05-07 Price Changed $25,000 SPMLS
• 2026-04-08 Pending — SPMLS
• 2026-03-10 Price Changed $45,000 SPMLS
• 2026-02-05 Price Changed $50,000 SPMLS
• 2025-11-25 Price Changed $55,000 SPMLS
• 2025-09-17 Listed $65,000 SPMLS
• 2019-02-12 Sold (MLS) $58,000 SPMLS
• 2019-01-15 Pending — SPMLS
• 2018-12-15 Price Changed $59,900 SPMLS
• 2018-11-17 Price Changed $67,500 SPMLS
• 2018-10-20 Price Changed $74,900 SPMLS
• 2018-09-20 Price Changed $99,900 SPMLS
• 2018-09-06 Price Changed $109,900 SPMLS
• 2018-08-09 Listed $117,500 SPMLS
• 2006-12-08 Sold (MLS) $69,000 SPMLS
• 2006-10-26 Listing Removed — Greater Greenville MLS
• 2006-09-15 Listed $59,900 SPMLS
• 2006-09-15 Listed $59,900 Greater Greenville MLS
• 1994-12-01 Sold (Public Records) $45,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $3,506 · +0.5% YoY. Source: county tax records.