Is 104 Wilson School St in Simpsonville, SC a good investment?

CashFlowRE grades it D- with a 3.8% cap rate and $-801/mo modeled cash flow at a $379,755 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 104 Wilson School St?

The modeled cap rate is 3.8% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,388/month, from CashFlowRE's rent model.

D- Composite 38.57

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).

ARV discount +14.9/15.0
Cash flow +5.6/30.0
Schools +5.0/10.0
Livability +4.4/5.0
Condition / age +4.0/5.0
Rent growth +3.5/5.0
1% rule +1.3/10.0
DSCR +0.0/10.0
Appreciation +0.0/10.0

$379,755

104 Wilson School St · Simpsonville, SC 29681

5 bd · 3.0 ba · 2,428 sqft · SingleFamily · 55 Days on market

Built 2025 Good condition 6,534 sqft lot 2-car garage $156/sqft · 16% below area Est $454k · 16% under $63/mo HOA · 3% of rent ↓ 7% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

The Prelude floor plan features 2,428 square feet of thoughtfully designed two-story living with 3 to 5 bedrooms and 2.5 to 3 baths. A spacious kitchen anchors the main floor, offering plenty of room for cooking and gathering. The first floor includes a dedicated home office or study, perfect for remote work or quiet focus. Upstairs, an additional office space provides even more flexibility for work, hobbies, or homework. With a 2-car garage and generous living areas throughout, the Prelude is built for modern lifestyles. Images are representative of the Prelude plan.

Key facts

Upstairs flex room
Waterside park
Resort-style pool

What this means for you Summary

Snapshot

This is a 5-bed/3.0-bath single-family listed at $380k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-801 ($-10k/yr) — negative.
To cash-flow at today's rent, offer at most $264k (30.5% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (37.1% below list).
Recommended offer: $239k (37.1% below list) — sets the bar for 1% rule.

Location & tenants

Location reads 87/100 on livability (#1 in SC, #295 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Simpsonville Elementary (math 52% / reading 52%, grade C-, #145 of 597 statewide, top 26%, 744 students, 71% FRL) — zoned schools average 71% FRL vs 42% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: Rents rising fast (+4.1%/yr); 797 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).

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.
Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

It's been on market 55 days — a 3% lower offer ($368k) is reasonable based on typical stale-listing flexibility.
5 sale attempts 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.

Recommended offer $238,791 (37.1% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
It's been on market 55 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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?
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.
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.
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: 0.63% ✗
Cap rate: 3.76%
Cash-on-cash: -9.04%
DSCR: 0.60
GRM: 13.3

CMA / ARV

ARV (median comp): $453,901
List price: $379,755
Delta: -16.34%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 Draycott Rd	0.45mi	4/3.0 (-1)	2,458 (+1%)	4mo	$470,000	$191	69
401 Woodland Oaks Ct	0.47mi	4/3.0 (-1)	2,328 (-4%)	1mo	$482,000	$207	66
362 Bridge Crossing Dr	0.58mi	4/2.5 (-1)	2,433 (+0%)	2mo	$389,000	$160	64
209 Blue Danube Dr	0.43mi	4/3.0 (-1)	2,216 (-9%)	0mo	$435,000	$196	60
415 Bridge Crossing Dr	0.67mi	4/2.5 (-1)	2,453 (+1%)	2mo	$394,957	$161	58
8 Toynbee Dr	0.55mi	4/2.5 (-1)	2,531 (+4%)	3mo	$475,000	$188	58
204 Nicolet Dr	0.72mi	4/2.5 (-1)	2,531 (+4%)	2mo	$415,000	$164	51
206 Nicolet Dr	0.72mi	4/3.5 (-1)	2,531 (+4%)	2mo	$416,650	$165	51
14 Briarwood Ct	0.53mi	4/3.0 (-1)	2,139 (-12%)	3mo	$470,000	$220	48
336 Blue Danube Dr	0.61mi	4/3.0 (-1)	2,108 (-13%)	3mo	$390,000	$185	42
99 Wemberly Ln	0.66mi	4/3.0 (-1)	2,200 (-9%)	9mo	$599,900	$273	41
102 Sunshine Dr	0.65mi	4/3.0 (-1)	2,200 (-9%)	11mo	$560,000	$255	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 · 4.09% rent growth · sell at horizon

5-year hold

IRR: -31.1%
Equity multiple: -0.03×
Total profit: $-109,828
Equity at exit: $56,623

10-year hold

IRR: -29.3%
Equity multiple: -0.41×
Total profit: $-149,913
Equity at exit: $32,834

Cash invested: $106,331 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 39 active · 24 under contract
Months of supply: 10.6 mo (9%/mo absorbed)
Median asking: $427,270 ($172/sqft)
Median days on market: 38 d
This list price: 23% of active listings are priced below it
ARV vs active asking: +8.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29681

Rents YoY: 4.1%
Active inventory: 797
Price-to-rent: 13.3×

Monthly cashflow live

Estimated rent: $2,388 high interval (Pro) →
Mortgage (P&I): −$1,991
Tax est. 1.5%: −$475 /mo · $5,696/yr
Insurance: −$158
HOA: −$63
Lot rent: −$0
Vacancy / Maint / Mgmt: −$501
Net cashflow: $-801

Break-even live

Break-even rent $3,402

Max offer price $263,856

Occupancy floor —

Sensitivity live

Price	-10% $-539	-5% $-670	+0% $-801	+5% $-932	+10% $-1,063
Rent	-10% $-990	-5% $-895	+0% $-801	+5% $-707	+10% $-612
Rate	-1.0pp $-610	-0.5pp $-704	base $-801	+0.5pp $-899	+1.0pp $-999

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: $94,939
Closing costs: $11,393
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Ashborne Ln Simpsonville, SC	4.0	3.5	2376	$2,171	$0.91	9d	1	1.06mi
612 Goldburn Way Simpsonville, SC	4.0	3.5	2376	$2,006	$0.84	4d	1	1.06mi
602 Goldburn Way Simpsonville, SC	4.0	4.0	2376	$2,041	$0.86	63d	1	1.07mi
248 Elmhaven Dr Simpsonville, SC	4.0	2.5	2237	$2,300	$1.03	9d	1	1.08mi
627 Goldburn Way Simpsonville, SC	4.0	3.5	2376	$2,326	$0.98	62d	1	1.09mi
619 Goldburn Way Simpsonville, SC	4.0	3.5	2376	$2,131	$0.90	4d	1	1.09mi
607 Goldburn Way Simpsonville, SC	4.0	4.0	2376	$2,201	$0.93	117d	1	1.10mi
7 Corsica Ct Simpsonville, SC	4.0	3.5	2200	$2,355	$1.07	5d	1	1.16mi
731 Liberty Walk Ln Simpsonville, SC	4.0	2.5	1747	$1,895	$1.08	73d	1	1.24mi
103 Poinsettia Dr Simpsonville, SC	4.0	2.0	1700	$5,800	$3.41	9d	1	1.24mi
306 Gibby Ln Simpsonville, SC	5.0	2.5	2560	$2,431	$0.95	9d	1	1.40mi
202 Newgate Dr Simpsonville, SC	4.0	2.0	1656	$1,795	$1.08	110d	1	1.45mi
272 Oak Branch Dr Simpsonville, SC	5.0	3.0	2700	$2,660	$0.99	9d	1	1.46mi

Property features AI

Finance

Other: Community amenities include some sidewalks, playground, pool, dog park, neighborhood lake/pond, walking trails, and pet-friendly policy
HOA & community: Homeowners association presentHOA covers common area insurance, common area electric and gas, pool, street lights, and enforces bylaws and restrictive covenants

Exterior

Parking: Attached 2-car garageDriveway parking on paved concrete
Utilities: Public waterPublic sewerPublic garbage pickupAttached garage (utility listed with property)
Home design: Two-story homeModel: PreludeUnder construction
Construction: Vinyl siding exteriorArchitectural roofSlab foundationBuilt by Dream Finders Homes
Exterior features: Front porch and additional porchSidewalksNeighborhood lake/pondWalking trailsPlaygroundDog parkCommon areas and pool

Interior

Kitchen: Cooktop (gas)Gas ovenBuilt-in microwaveDishwasherGarbage disposalPantry
Bedrooms: Primary bedroom on 2nd level with double sink, full bath, shower-only, and walk-in closet (approx. 12 x 17)Second bedroom approx. 12 x 11Third bedroom approx. 11 x 11Fourth bedroom approx. 12 x 13Fifth bedroom approx. 12 x 10One bedroom on the main level
Flooring: Luxury vinyl tile/plank
Bathrooms: Three full bathrooms totalOne full bathroom on the main level
Heating & cooling: Natural gas heatingCentral forced coolingTankless water heater
Interior features: Cable available9-foot (or higher) smooth ceilingsSolid surface countertopsOpen floor planSmoke detectorWalk-in closetsPantry with closet and walk-in optionsNo fireplace
Laundry & utility: Walk-in laundryAttic and garage storage

Listing history 50 events

2026-09-24

days on market $379,755 Active 55 DOM
2026-09-23

days on market $379,755 Active 54 DOM
2026-09-22

days on market $379,755 Active 53 DOM
2026-09-21

days on market $379,755 Active 52 DOM
2026-09-20

days on market $379,755 Active 51 DOM
2026-09-19

days on market $379,755 Active 50 DOM
2026-09-18

days on market $379,755 Active 49 DOM
2026-09-17

days on market $379,755 Active 48 DOM
2026-09-16

days on market $379,755 Active 47 DOM
2026-09-15

days on market $379,755 Active 46 DOM
2026-09-14

days on market $379,755 Active 45 DOM
2026-09-13

days on market $379,755 Active 44 DOM
2026-09-12

days on market $379,755 Active 43 DOM
2026-09-11

days on market $379,755 Active 42 DOM
2026-09-06

days on market $379,755 Active 36 DOM
2026-09-04

days on market $379,755 Active 35 DOM
2026-09-03

days on market $379,755 Active 34 DOM
2026-08-31

days on market $379,755 Active 31 DOM
2026-08-30

days on market $379,755 Active 30 DOM
2026-08-29

days on market $379,755 Active 29 DOM
2026-08-28

days on market $379,755 Active 28 DOM
2026-08-27

days on market $379,755 Active 27 DOM
2026-08-25

days on market $379,755 Active 25 DOM
2026-08-24

days on market $379,755 Active 24 DOM
2026-08-23

days on market $379,755 Active 23 DOM
2026-08-22

days on market $379,755 Active 22 DOM
2026-08-21

days on market $379,755 Active 21 DOM
2026-08-20

days on market $379,755 Active 20 DOM
2026-08-19

days on market $379,755 Active 19 DOM
2026-08-18

days on market $379,755 Active 18 DOM
2026-08-17

days on market $379,755 Active 17 DOM
2026-08-16

days on market $379,755 Active 16 DOM
2026-08-15

days on market $379,755 Active 15 DOM
2026-08-15

days on market $379,755 Active 14 DOM
2026-08-13

days on market $379,755 Active 13 DOM
2026-08-12

days on market $379,755 Active 12 DOM
2026-08-11

days on market $379,755 Active 11 DOM
2026-08-10

days on market $379,755 Active 10 DOM
2026-08-09

pricedays on market $379,755 Active 9 DOM
2026-08-08

days on market $379,749 Active 8 DOM
2026-08-07

days on market $379,749 Active 7 DOM
2026-08-06

days on market $379,749 Active 6 DOM
2026-08-05

days on market $379,749 Active 5 DOM
2026-08-04

days on market $379,749 Active 4 DOM
2026-08-03

days on market $379,749 Active 3 DOM
2026-08-01

pricedays on marketlisting id $379,749 Active 1 DOM
2026-07-31

pricedays on marketlisting id $379,755 Active 204 DOM
2026-07-30

days on market $379,749 Active 58 DOM
2026-07-30

days on market $379,749 Active 57 DOM
2026-07-28

days on market $379,749 Active 56 DOM

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $28,655
− Mortgage interest: −$21,272
− Property taxes: −$5,696
− Insurance: −$1,899
− Repairs & maintenance: −$2,292
− Management: −$2,292
− HOA: −$756
− Depreciation: −$11,047
Taxable loss: −$16,601

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$3,984
After-tax cash flow: $-5,627/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $12,140–$36,420 screening

This single-family home is in good condition with a good condition score of 80. It has a good exterior, flooring, and interior walls/paint. The bathrooms and roof are in good condition. The home is ready for a cosmetic rehab with minor maintenance needed. The highest-ROI updates would be to paint the exterior trim, install a smart home security system, and add a smart thermostat.

Value-add opportunities

Resale Paint exterior trim — Enhances curb appeal ↑
Both Install smart home security system — Improves safety and adds modern amenities ↑
Both Add smart thermostat — Saves energy and adds convenience ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Simpsonville Elementary C- SC #145/597 Nat'l #11,263/41,679 Middle Bryson Middle F SC #147/229 Nat'l #9,659/14,009 High Hillcrest High B+ SC #57/196 Nat'l #2,083/17,239

Schools (NCES district)

District: Greenville 01
NCES district ID: 4502310
Math proficiency: 44% ▼ -10.00%
Reading proficiency: 54% ▼ -2.00%
Median HH income: $49,596
Composite: 41.88/100
National rank: #3370
State rank: #10 of 80 in SC

A Composite livability gradescore 87/100

Livability — Simpsonville

Score: 87/100
State rank: #1
US rank: #295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County: Greenville County · 574,580 people
City population: 104,420
Metro: Greenville-Anderson, SC
Population (ZIP): 68,650
Household income: $114,986
Rent vs Own: 15.4% rent · 84.6% own
Severe rent burden: 8% of renters

Population outlook (Greenville County) Hauer SSP2

Today (2025): 574,580 people
By 2030: 615,615 · +7.1%
By 2040: 695,373 · +21.0%
By 2050: 769,367 · +33.9%
By 2075: 933,296 · +62.4%
By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (71%)
Race & ethnicity: White 71% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 4%
Hispanic origin (detail): Mexican 2% Puerto Rican 1%
Common ancestry: Romanian 3% Italian 3% Slovak 3%
Foreign-born: 8% · Canada, Jamaica, South Korea
Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Greenville

2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -144.64%
Current HPI: 226.5252
Rent YoY: ▲ 4.09%
Metro: Greenville-Anderson, SC
State GDP YoY: ▲ 4.51%
F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
Packaging	1	$7B
#370 Sonoco Products Hartsville $6.8B

Price history

-6.6% since first listed

18 events — show timeline

2026-07-31 Listed $379,749 Greater Greenville MLS
2026-07-31 Listing Removed — Greater Greenville MLS
2026-07-18 Price Changed $379,749 Greater Greenville MLS
2026-07-18 Price Changed $379,755 Zillow
2026-06-02 Price Changed $382,754 Zillow
2026-06-02 Listed $382,749 Greater Greenville MLS
2026-06-01 Listing Removed — Greater Greenville MLS
2026-05-31 Price Changed $382,749 Greater Greenville MLS
2026-05-25 Price Changed $385,979 Zillow
2026-05-05 Listed $384,979 Greater Greenville MLS
2026-05-04 Price Changed $384,979 Zillow
2026-02-27 Price Changed $389,949 Zillow
2026-02-23 Relisted — Zillow
2026-02-23 Delisted — Zillow
2026-02-20 Price Changed $389,749 Zillow
2026-02-07 Price Changed $389,069 Zillow
2026-01-20 Price Changed $409,069 Zillow
2026-01-08 Listed $406,669 Zillow

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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