130 Washington Rd · Cowpens, SC 29330

$99,000

2 bd · 1.0 ba · 930 sqft · SingleFamily public records · 72 Days on market

Built 1940 Est $140k · 30% under ↓ 24% 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
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

Key facts

• Large quiet lot
• Storage building
• New gas hvac unit

Tags

• LARGE QUIET LOT
• NEW GAS HVAC UNIT
• STORAGE BUILDING

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Driveway parking (gravel); Other/see remarks
• Utilities: Public water; Public sewer; Electric water heater; Natural gas available for heating; Electric power for cooling
• Home design: Single-story home; Built around 1940; Lead-based paint discovery required; Outbuilding for storage; Crawl space foundation
• Construction: Block exterior finish; Composition shingle roof
• Exterior features: Front porch; Deck; Level lot with some trees

Interior

• Kitchen: 12 x 12 kitchen; Refrigerator; Electric oven
• Bedrooms: Two bedrooms on the main level (each approximately 10 x 10); Primary bedroom with full bath and tub/shower
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Forced air heating (natural gas); Central forced cooling (electric); Electric water heater
• Interior features: Cable available; No fireplace
• Laundry & utility: Laundry on the 1st floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 3.7% in Cowpens — 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 61/100 on livability (#213 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: amenities F, commute F, employment 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: Cowpens Elementary (math 57% / reading 52%, grade C, #123 of 597 statewide, top 22%, 461 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 69 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $31k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.54% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.37%
• DSCR: 2.08
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $140,430
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 Washington Rd	0.02mi	2/1.0	1,004 (+8%)	6mo	$142,000	$141	81
152 Washington Rd	0.11mi	2/1.0	1,035 (+11%)	0mo	$168,000	$162	76
133 Washington Rd	0.04mi	2/1.0	864 (-7%)	13mo	$47,500	$55	76
197 Washington Rd	0.30mi	2/1.0	939 (+1%)	16mo	$100,000	$106	71
107 Marion St	0.10mi	2/1.5	1,060 (+14%)	4mo	$160,000	$151	67
132 S Linda St	0.49mi	2/1.0	896 (-4%)	10mo	$165,000	$184	63
143 Greenway Dr	0.37mi	2/1.0	980 (+5%)	14mo	$219,000	$223	62
4963 S Main St	0.41mi	2/1.0	1,008 (+8%)	6mo	$125,000	$124	62
125 S Linda St	0.52mi	2/1.0	1,020 (+10%)	3mo	$162,500	$159	57
270 Wagon Wheel	0.50mi	2/1.0	896 (-4%)	22mo	$115,000	$128	52
363 W Church St	0.59mi	2/2.0	1,061 (+14%)	12mo	$210,000	$198	35

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: 17.7%
• Equity multiple: 1.71×
• Total profit: $19,802
• Equity at exit: $14,761

10-year hold

• IRR: 26.1%
• Equity multiple: 3.29×
• Total profit: $63,389
• Equity at exit: $8,560

Cash invested: $27,720 (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 29330

• Home prices YoY: -9.2%
• Active inventory: 69
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,524 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$80 /mo · $965/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $563

Break-even live

Break-even rent $811

Max offer price $99,000

Occupancy floor 58%

Sensitivity live

Price	-10% $619	-5% $591	+0% $563	+5% $535	+10% $507
Rent	-10% $442	-5% $503	+0% $563	+5% $623	+10% $683
Rate	-1.0pp $613	-0.5pp $588	base $563	+0.5pp $537	+1.0pp $511

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5365 N Main St Apt 202 Cowpens, SC	2.0	2.0	810	$1,540	$1.90	21d	1	0.58mi
115 Anile St Unit B Cowpens, SC	2.0	2.0	1050	$1,495	$1.42	14d	1	1.04mi

Listing history 19 events

1. 2026-06-13
   status $99,000 Pending 72 DOM
2. 2026-06-10
   days on market $99,000 Active 72 DOM
3. 2026-06-09
   days on market $99,000 Active 71 DOM
4. 2026-06-08
   days on market $99,000 Active 70 DOM
5. 2026-06-07
   days on market $99,000 Active 69 DOM
6. 2026-06-05
   days on market $99,000 Active 66 DOM
7. 2026-06-03
   days on market $99,000 Active 65 DOM
8. 2026-06-02
   days on market $99,000 Active 64 DOM
9. 2026-06-01
   days on market $99,000 Active 63 DOM
10. 2026-05-31
    days on market $99,000 Active 62 DOM
11. 2026-05-30
    days on market $99,000 Active 61 DOM
12. 2026-05-09
    price $99,000
13. 2026-05-08
    price $99,000 398-char remark

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

14. 2026-04-22
    price $109,000

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

15. 2026-04-22
    price $109,000 398-char remark

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

16. 2026-04-13
    price $119,000

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

17. 2026-04-13
    price $119,000 398-char remark

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

18. 2026-03-30
    listed $129,900 Active 398-char remark

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

19. 2026-03-30
    listed $129,900 Active

    Show marketing remark (398 chars)

    This 2 bedroom, 1 bath home sits on a large, quiet lot within walking distance to downtown Cowpens. A new gas HVAC unit installed in 2025 adds immediate value and peace of mind. The property also includes a storage building, offering extra space for tools, equipment, or hobby use. With solid rental potential and room to add value, this home is ideal for investors or buyers looking for a project.

ⓘ 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: $965 · $80/mo
• Projected year-2 tax: $965 · $80/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 3/10 Moderate
• 🌡 Heat 5/10 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 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,284
• − Mortgage interest: −$5,546
• − Property taxes: −$965
• − Insurance: −$495
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$2,880
• Taxable income: $5,473
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $5,441/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 — Cowpens

• Score: 61/100
• State rank: #213
• US rank: #17912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cowpens, SC
• Population (ZIP): 8,720

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 2% Serbian 1%
• Foreign-born: 4% · Canada, South Korea, Jamaica
• Languages at home: 91% English-only · Spanish 6% Chinese 1% Other Asian/Pacific 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: ▼ -26.81%
• Current HPI: 263.1439
• 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

-23.8% since first listed

8 events — show timeline

• 2026-05-09 Price Changed $99,000 Greater Greenville MLS
• 2026-05-08 Price Changed $99,000 SPMLS
• 2026-04-22 Price Changed $109,000 Greater Greenville MLS
• 2026-04-22 Price Changed $109,000 SPMLS
• 2026-04-13 Price Changed $119,000 Greater Greenville MLS
• 2026-04-13 Price Changed $119,000 SPMLS
• 2026-03-30 Listed $129,900 SPMLS
• 2026-03-30 Listed $129,900 Greater Greenville MLS

Property tax history

+2.7%/yr

Latest (2025): $965 · +1.2% YoY. Source: county tax records.