326 Irby St · Woodruff, SC 29388

$375,000

24 bd · 24.0 ba · 3,060 sqft · MultiFamily public records · 208 Days on market

Built 1958

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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
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great investment opportunity in the popular and growing City of Woodruff! A rare six unit hexplex located in the heart of the city provides tenants with quick access to all of life’s daily needs including retail, restaurants, schools and medical facilities. All units are recently updated and contain 1 bed, 1 bath (500+ square feet). The property is currently fully occupied and some units have room for potential rate increases. All tenants benefit from the handicap accessible ramp leading to the rocking-chair front porch.

Key facts

• Growing woodruff sc
• 6 units
• Newly renovated

Tags

• INVESTMENT OPPORTUNITY
• GROWING WOODRUFF SC
• 6 UNITS
• NEWLY RENOVATED
• NEW ROOF

Property features AI

Finance

• Financial info: 6 total units
• HOA & community: No community amenities

Exterior

• Parking: 1 parking space per unit
• Utilities: Public water; Electric water heater; Public sewer; Public garbage pickup
• Home design: Single-story building
• Construction: Built around 1958; Crawl space foundation; Composition shingle roof
• Exterior features: Brick veneer exterior; Lot dimensions approximately 121 x 104 x 120 x 104

Interior

• Kitchen: Each unit includes a kitchen / breakfast room
• Bedrooms: Each unit is a 1-bedroom
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Baseboard heating (electric); Wall/window cooling units
• Interior features: Front porches on multiple units; Some units have storm doors; Exterior ramps for accessibility at several units
• Laundry & utility: Separate electric utility meters

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $324/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $375k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 4.0% in Woodruff — 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 65/100 on livability (#135 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities D+, commute F, employment F.
• Spartanburg 04 (town): math 47% / reading 45% proficiency, ranked #23 of 80 in SC (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodruff Primary (780 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 666 active listings in the ZIP; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• At $6,362/mo this rent would consume 96% of the median local household income ($80k/yr) (locally 303% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 + 3.0% rent growth), your $105k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $125k (25%) 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; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• 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 $330,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.19%
• DSCR: 1.99
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 15.0%
• Equity multiple: 1.60×
• Total profit: $63,268
• Equity at exit: $55,914

10-year hold

• IRR: 23.8%
• Equity multiple: 3.06×
• Total profit: $215,915
• Equity at exit: $32,423

Cash invested: $105,000 (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 29388

• Home prices YoY: -11.9%
• Active inventory: 666
• Price-to-rent: 29.5×

Monthly cashflow live

• Estimated rent: $6,362 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$962 /mo · $11,544/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,336
• Net cashflow: $1,941

Break-even live

Break-even rent $3,905

Max offer price $375,000

Occupancy floor 64%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$6,360
Total (6 units)			$6,362

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-13
   statusdays on market $375,000 Pending 208 DOM
2. 2026-06-10
   days on market $375,000 Active 206 DOM
3. 2026-06-09
   days on market $375,000 Active 205 DOM
4. 2026-06-08
   days on market $375,000 Active 204 DOM
5. 2026-06-07
   days on market $375,000 Active 203 DOM
6. 2026-06-03
   days on market $375,000 Active 199 DOM
7. 2026-06-03
   days on market $375,000 Active 198 DOM
8. 2026-06-01
   days on market $375,000 Active 197 DOM
9. 2026-05-31
   days on market $375,000 Active 196 DOM
10. 2026-05-08
    price $375,000
11. 2026-04-30
    status Active
12. 2026-03-13
    status Pending
13. 2026-03-04
    price $425,000
14. 2025-12-09
    price $450,000
15. 2025-12-05
    status Active
16. 2025-11-22
    status Pending
17. 2025-08-13
    listed $500,000 Active
18. 2023-06-09
    soldstatus $400,000
19. 2023-06-05
    soldstatus $400,000 Sold 536-char remark

    Show marketing remark (536 chars)

    Great investment opportunity in the popular and growing City of Woodruff! A rare six unit hexplex located in the heart of the city provides tenants with quick access to all of life’s daily needs including retail, restaurants, schools and medical facilities. All units are recently updated and contain 1 bed, 1 bath (500+ square feet). The property is currently fully occupied and some units have room for potential rate increases. All tenants benefit from the handicap accessible ramp leading to the rocking-chair front porch.

20. 2023-04-25
    status Pending 536-char remark

    Show marketing remark (536 chars)

    Great investment opportunity in the popular and growing City of Woodruff! A rare six unit hexplex located in the heart of the city provides tenants with quick access to all of life’s daily needs including retail, restaurants, schools and medical facilities. All units are recently updated and contain 1 bed, 1 bath (500+ square feet). The property is currently fully occupied and some units have room for potential rate increases. All tenants benefit from the handicap accessible ramp leading to the rocking-chair front porch.

21. 2023-02-03
    listed $425,000 Active 536-char remark

    Show marketing remark (536 chars)

    Great investment opportunity in the popular and growing City of Woodruff! A rare six unit hexplex located in the heart of the city provides tenants with quick access to all of life’s daily needs including retail, restaurants, schools and medical facilities. All units are recently updated and contain 1 bed, 1 bath (500+ square feet). The property is currently fully occupied and some units have room for potential rate increases. All tenants benefit from the handicap accessible ramp leading to the rocking-chair front porch.

22. 2023-01-06
    historical
23. 2022-11-03
    status Active
24. 2022-10-26
    status Pending
25. 2022-10-19
    listed $425,000 Active
26. 2020-12-31
    soldstatus $160,000
27. 2016-11-14
    soldstatus $55,000

ⓘ 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: $11,544 · $962/mo
• Projected year-2 tax: $11,544 · $962/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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $76,344
• − Mortgage interest: −$21,006
• − Property taxes: −$11,544
• − Insurance: −$1,875
• − Repairs & maintenance: −$6,108
• − Management: −$6,108
• − Depreciation: −$10,909
• Taxable income: $18,795
• Est. tax owed @ 24.0%: −$4,511
• After-tax cash flow: $18,783/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 04
• NCES district ID: 4503570
• Math proficiency: 47% ▼ -15.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $39,416
• Composite: 38.47/100
• National rank: #4190
• State rank: #23 of 80 in SC

Livability — Woodruff

• Score: 65/100
• State rank: #135
• US rank: #13093

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodruff, SC
• County: Spartanburg County · 258,607 people
• City population: 16,868
• Metro: Spartanburg, SC
• Population (ZIP): 16,868
• Household income: $79,828
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 303.0

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 (78%)
• Race & ethnicity: White 78% Black 13% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 3% Slovak 2% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -37.96%
• Current HPI: 279.6651
• 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

+581.8% since first listed

18 events — show timeline

• 2026-05-08 Price Changed $375,000 Greater Greenville MLS
• 2026-04-30 Relisted — Greater Greenville MLS
• 2026-03-13 Pending — Greater Greenville MLS
• 2026-03-04 Price Changed $425,000 Greater Greenville MLS
• 2025-12-09 Price Changed $450,000 Greater Greenville MLS
• 2025-12-05 Relisted — Greater Greenville MLS
• 2025-11-22 Pending — Greater Greenville MLS
• 2025-08-13 Listed $500,000 Greater Greenville MLS
• 2023-06-09 Sold (Public Records) $400,000 Public Records
• 2023-06-05 Sold (MLS) $400,000 Greater Greenville MLS
• 2023-04-25 Pending — Greater Greenville MLS
• 2023-02-03 Listed $425,000 Greater Greenville MLS
• 2023-01-06 Listing Removed — Greater Greenville MLS
• 2022-11-03 Relisted — Greater Greenville MLS
• 2022-10-26 Pending — Greater Greenville MLS
• 2022-10-19 Listed $425,000 Greater Greenville MLS
• 2020-12-31 Sold (Public Records) $160,000 Public Records
• 2016-11-14 Sold (Public Records) $55,000 Public Records

Property tax history

+19.9%/yr

Latest (2025): $11,544 · +1.1% YoY. Source: county tax records.