664 Ballenger Rd · Gaffney, SC 29340

$130,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 48 Days on market

Built 1970 3.68 ac lot Est $255k · 49% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.0/10.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you like privacy this is the place for you. This 3-bedroom 1-bath mobile home at 664 Ballenger Rd. sitting on 3.68 acres of land has endless possibilities. The single wide mobile home does have additional rooms added and need some repairs. It has a place for a wood stove with no additional heating or air units. It comes with a block building that may need some repairs. There is a creek that borders one side of the property. The private property offers ample potential to expand. Don't miss out on amazing opportunity to transform this mobile home into your home. Property is being sold as is.

Key facts

• 3.68 acre lot
• Built 1970
• Listed 47 days

Property features AI

Finance

• Other: Finished living area above grade and below grade listed (details provided by listing)
• Financial info: Financial details not provided
• HOA & community: No HOA information specified

Exterior

• Parking: Gravel driveway
• Security: No security features specified
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured / modular home; One story
• Construction: Vinyl siding
• Exterior features: Porch; Outbuilding; Waterfront access; Level lot

Interior

• Kitchen: No kitchen appliance list beyond basic appliances provided
• Bedrooms: Bedrooms information not specified
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric air conditioning; Electric heating; Floor furnace
• Interior features: Walk-in closet(s); Pantry; Insulated windows; Electric water heater
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $10 ($125/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 $117k (10.2% below list).
• Recommended offer: $117k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.6% in Gaffney — 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 66/100 on livability (#112 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, crime D, commute F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Corinth Elementary (math 52% / reading 52%, grade C-, #145 of 597 statewide, top 26%, 334 students, 75% FRL); John E. Ewing Middle (math 18% / reading 30%, grade F, #167 of 229 statewide, top 74%, 486 students, 100% FRL); Gaffney High (math 40% / reading 75%, grade C, #116 of 196 statewide, top 59%, 1,838 students, 84% FRL) — zoned schools average 87% FRL vs 64% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 158 active listings in the ZIP; lower-income renter base — watch delinquency; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $105k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,709 (10.2% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is D 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?
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: 0.90% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $254,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 Brick House Road Rd	0.47mi	3/2.0	1,225 (-6%)	1mo	$200,000	$163	64
359 Brick House Rd	0.36mi	3/2.0	1,405 (+8%)	4mo	$275,900	$196	62
371 Brick House Rd	0.39mi	3/2.0	1,385 (+6%)	7mo	$262,000	$189	61
381 Brick House Rd	0.39mi	3/2.0	1,405 (+8%)	8mo	$274,900	$196	58

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-20,378
• Equity at exit: $19,383

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-16,788
• Equity at exit: $11,240

Cash invested: $36,400 (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 29340

• Home prices YoY: -29.7%
• Active inventory: 158
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$109 /mo · $1,311/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $10

Break-even live

Break-even rent $1,154

Max offer price $130,000

Occupancy floor 94%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $130,000 Active 48 DOM
2. 2026-06-18
   days on market $130,000 Active 47 DOM
3. 2026-06-17
   days on market $130,000 Active 46 DOM
4. 2026-06-16
   days on market $130,000 Active 45 DOM
5. 2026-06-15
   days on market $130,000 Active 44 DOM
6. 2026-06-14
   days on market $130,000 Active 42 DOM
7. 2026-06-13
   days on market $130,000 Active 41 DOM
8. 2026-06-10
   days on market $130,000 Active 39 DOM
9. 2026-06-09
   days on market $130,000 Active 38 DOM
10. 2026-06-08
    days on market $130,000 Active 37 DOM
11. 2026-06-07
    days on market $130,000 Active 36 DOM
12. 2026-06-02
    days on market $130,000 Active 31 DOM
13. 2026-06-01
    days on market $130,000 Active 30 DOM
14. 2026-05-31
    days on market $130,000 Active 29 DOM
15. 2026-05-30
    days on market $130,000 Active 28 DOM
16. 2026-05-21
    price $130,000
17. 2026-04-30
    listed $135,000 Active
18. 2025-02-03
    soldstatus $105,000
19. 2025-01-31
    soldstatus $105,000 Closed 607-char remark

    Show marketing remark (607 chars)

    If you like privacy this is the place for you. This 3-bedroom 1-bath mobile home at 664 Ballenger Rd. sitting on 3.68 acres of land has endless possibilities. The single wide mobile home does have additional rooms added and need some repairs. It has a place for a wood stove with no additional heating or air units. It comes with a block building that may need some repairs. There is a creek that borders one side of the property. The private property offers ample potential to expand. Don't miss out on amazing opportunity to transform this mobile home into your home. Property is being sold as is.

20. 2025-01-01
    status Pending 607-char remark

    Show marketing remark (607 chars)

    If you like privacy this is the place for you. This 3-bedroom 1-bath mobile home at 664 Ballenger Rd. sitting on 3.68 acres of land has endless possibilities. The single wide mobile home does have additional rooms added and need some repairs. It has a place for a wood stove with no additional heating or air units. It comes with a block building that may need some repairs. There is a creek that borders one side of the property. The private property offers ample potential to expand. Don't miss out on amazing opportunity to transform this mobile home into your home. Property is being sold as is.

21. 2024-09-17
    listed $125,000 Active 607-char remark

    Show marketing remark (607 chars)

    If you like privacy this is the place for you. This 3-bedroom 1-bath mobile home at 664 Ballenger Rd. sitting on 3.68 acres of land has endless possibilities. The single wide mobile home does have additional rooms added and need some repairs. It has a place for a wood stove with no additional heating or air units. It comes with a block building that may need some repairs. There is a creek that borders one side of the property. The private property offers ample potential to expand. Don't miss out on amazing opportunity to transform this mobile home into your home. Property is being sold as is.

ⓘ 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: $1,311 · $109/mo
• Projected year-2 tax: $1,311 · $109/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,005
• − Mortgage interest: −$7,282
• − Property taxes: −$1,311
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$3,782
• Taxable loss: −$2,058
• Est. tax savings @ 24.0%: +$494
• After-tax cash flow: $619/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: Cherokee 01
• NCES district ID: 4501500
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $34,262
• Composite: 28.39/100
• National rank: #6768
• State rank: #47 of 80 in SC

Livability — Gaffney

• Score: 66/100
• State rank: #112
• US rank: #11549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cherokee County · 41,410 people
• City population: 41,410
• Metro: Gaffney, SC
• Population (ZIP): 20,763
• Household income: $44,123
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 257.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 58,602 people
• By 2030: 59,336 · +1.3%
• By 2040: 60,266 · +2.8%
• By 2050: 60,314 · +2.9%
• By 2075: 59,276 · +1.2%
• By 2100: 53,788 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -29.3pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+43.8 2016: R+41.7 2012: R+29.3 2008: R+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.24%
• Current HPI: 201.4272
• Rent YoY: —
• Metro: Gaffney, 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

+4.0% since first listed

6 events — show timeline

• 2026-05-21 Price Changed $130,000 SPMLS
• 2026-04-30 Listed $135,000 SPMLS
• 2025-02-03 Sold (Public Records) $105,000 Public Records
• 2025-01-31 Sold (MLS) $105,000 CANOPYMLS as Distributed by MLS Grid
• 2025-01-01 Pending — CANOPYMLS as Distributed by MLS Grid
• 2024-09-17 Listed $125,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+55.8%/yr

Latest (2025): $1,311 · +5.4% YoY. Source: county tax records.