3 bd · 2.5 ba ·
1,423 sqft ·
Built 2026
· Townhouse
· Active
· 47 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,747/mo
Mortgage (P&I)
−$944
Tax + insurance
−$300
HOA
−$0
Vac / Maint / Mgmt
−$367
Net cashflow
$136/mo
Annual
$1,634/yr
Cap rate
7.20%
Cash-on-cash
3.24%
DSCR
1.14
1% rule
0.97%
Cash to close
$50,400
Investor read
This is a 3-bed/2.5-bath townhouse listed at $180k.
At list price, monthly cash flow is $136 ($2k/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 $175k (2.9% below list).
It's been on market 47 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
Location reads 74/100 on livability (#29 in SC, #4,452 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
Spartanburg 02 (suburban): math 49% / reading 56% proficiency, ranked #6 of 80 in SC (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
Market conditions: Rents rising (+1.8%/yr); 693 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
Spartanburg County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
Cap rate 7.2% vs local median 4.3% in Inman — 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.
Questions for listing agent
It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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.
CashFlowRE · CFR-C0PHDM2Y1WSTKG
· Data 3 weeks agocashflowre.app · 2026-05-29