5990 Hwy 14 · Gray Court, SC 29645

$115,900

3 bd · 2.0 ba · 1,450 sqft · Manufactured · 51 Days on market

0.80 ac lot Est $215k · 46% under ↓ 7% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Great spot just minutes from Fountain Inn! Sitting on almost an acre, this double-wide home has plenty of space and tons of potential. It offers 3 bedrooms and 2 full bathrooms with a comfortable layout that just needs a little TLC to make it shine. Perfect for someone looking for a fixer upper, rental property, or investment opportunity. Convenient to Simpsonville and Fountain Inn.

Key facts

• Rental property
• Double-wide home
• Almost an acre

Tags

• DOUBLE-WIDE HOME
• ALMOST AN ACRE
• FIXER UPPER
• RENTAL PROPERTY
• INVESTMENT OPPORTUNITY
• CONVENIENT TO SIMPSONVILLE

Property features AI

Finance

• HOA & community: No HOA; No community amenities

Exterior

• Parking: Driveway parking; Gravel driveway; No garage
• Utilities: Public water; Electric water heater; Septic sewer; Private garbage pickup
• Home design: Single-story home; Estimated age 31–50 years; Half-acre lot (approximately 1/2 acre); Level lot with some trees
• Construction: Wood exterior; Composition shingle roof; Crawl space foundation; Outbuilding for storage
• Exterior features: Front porch; Screened porch

Interior

• Kitchen: Kitchen approximately 14 x 10; Stand-alone electric range
• Bedrooms: Primary bedroom on main level with garden tub (14 x 11); Second bedroom (11 x 11); Third bedroom (11 x 11); Three bedrooms on the main level
• Flooring: Other (see remarks)
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central forced cooling
• Interior features: Blown ceiling; Wood-burning fireplace (1)
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $116k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 4.1% in Gray Court — 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 52/100 on livability (#347 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Laurens 55 (rural): math 20% / reading 29% proficiency, ranked #63 of 80 in SC (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gray Court-Owings Elementary/Middle (math 16% / reading 24%, grade F, #492 of 597 statewide, top 83%, 763 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 170 active listings in the ZIP; 621 units permitted in Laurens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $801 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Laurens County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,423 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.73% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.10%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $214,600
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5990 Hwy 14	0.00mi	3/2.0	1,400 (-3%)	1mo	$90,000	$64	94
108 Heatherwood Dr	0.73mi	4/2.0 (+1)	1,498 (+3%)	9mo	$221,000	$148	48

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: 23.5%
• Equity multiple: 1.97×
• Total profit: $31,371
• Equity at exit: $17,281

10-year hold

• IRR: 31.4%
• Equity multiple: 3.83×
• Total profit: $91,979
• Equity at exit: $10,021

Cash invested: $32,452 (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 29645

• Home prices YoY: -21.9%
• Active inventory: 170
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,010 medium
• Mortgage (P&I): −$608
• Tax est. 1.5%: −$145 /mo · $1,738/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $787

Break-even live

Break-even rent $1,014

Max offer price $115,900

Occupancy floor 56%

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-03-31
   price $115,900
3. 2026-03-10
   listed $124,900 Active

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

Taxation est. · year 1

• Rental income: $24,120
• − Mortgage interest: −$6,492
• − Property taxes: −$1,738
• − Insurance: −$580
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$3,372
• Taxable income: $8,079
• Est. tax owed @ 24.0%: −$1,939
• After-tax cash flow: $7,504/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: Laurens 55
• NCES district ID: 4502610
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $39,174
• Composite: 20.58/100
• National rank: #8555
• State rank: #63 of 80 in SC

Livability — Gray Court

• Score: 52/100
• State rank: #347
• US rank: #24818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,212

Population outlook (Laurens County) Hauer SSP2

• Today (2025): 66,741 people
• By 2030: 66,454 · -0.4%
• By 2040: 64,881 · -2.8%
• By 2050: 61,941 · -7.2%
• By 2075: 53,266 · -20.2%
• By 2100: 41,495 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 11% Two or more races 6%
• Hispanic origin (detail): Mexican 9% Cuban 1%
• Common ancestry: Slovak 3% Romanian 1% Serbian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 9% French/Haitian/Cajun 1%

Political lean MEDSL · Laurens

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: -22.8pp toward R · 2008: -18.1pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+32.3 2016: R+29.9 2012: R+17.5 2008: R+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.90%
• Current HPI: 166.9585
• 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

-7.2% since first listed

3 events — show timeline

• 2026-04-30 Pending — Greater Greenville MLS
• 2026-03-31 Price Changed $115,900 Greater Greenville MLS
• 2026-03-10 Listed $124,900 Greater Greenville MLS