410 Richardson St · Simpsonville, SC 29681

$220,000

3 bd · 2.5 ba · 1,220 sqft · SingleFamily public records · 40 Days on market

Built 1999 Est $274k · 20% under

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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 +15.0/15.0
• Cash flow +12.5/30.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Rent growth +3.5/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Townhouse located in downtown Simpsonville. Large great room, dining area, plus a breakfast nook, kitchen with plenty of counter space and a half bath make up the first floor. Second floor has two large bedrooms, each with its own bathroom and walk in closet. New laminate flooring on the first floor and new carpet upstairs, new interior paint as well. Newer roof and HVAC. Plenty of parking. Community Pool. Located close to Main Street and with easy access to I-385.

Key facts

• Brand-new flooring
• No carpet
• Functional layout

Tags

• UNBEATABLE LOCATION
• TWO BLOCKS FROM DOWNTOWN
• NO CARPET
• BRAND-NEW FLOORING
• FUNCTIONAL LAYOUT
• NEAR SHOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-34 ($-410/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (25.2% below list).
• Recommended offer: $165k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.9% in Simpsonville — 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 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.
• Market conditions: Rents rising fast (+4.1%/yr); 531 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• This rent is only 17% of the median local income ($115k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 40 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 17y 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 $126k; list at $220k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,512 (25.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.75% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $274,500
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Edwards St	0.19mi	3/2.0	1,159 (-5%)	7mo	$305,000	$263	75
215 Beattie St	0.36mi	2/1.0 (-1)	1,330 (+9%)	3mo	$299,900	$225	55
118 Waterbury Ct	0.44mi	3/2.0	1,357 (+11%)	15mo	$242,000	$178	46

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: -16.4%
• Equity multiple: 0.41×
• Total profit: $-36,092
• Equity at exit: $32,803

10-year hold

• IRR: -6.6%
• Equity multiple: 0.56×
• Total profit: $-26,944
• Equity at exit: $19,022

Cash invested: $61,600 (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 29681

• Rents YoY: 4.1%
• Active inventory: 531
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,645 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$88 /mo · $1,061/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-34

Break-even live

Break-even rent $1,688

Max offer price $213,963

Occupancy floor 97%

Sensitivity live

Price	-10% $90	-5% $28	+0% $-34	+5% $-96	+10% $-159
Rent	-10% $-164	-5% $-99	+0% $-34	+5% $31	+10% $96
Rate	-1.0pp $77	-0.5pp $22	base $-34	+0.5pp $-91	+1.0pp $-149

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Garden District Dr Simpsonville, SC	1.0–3.0	1.0–2.0	939	$1,636	$1.74	25d	4	0.17mi
1000 Princeton Elm Ct Simpsonville, SC	2.0	2.0	1007	$1,199	$1.19	25d	1	0.49mi
10 Capewood Rd Simpsonville, SC	1.0–2.0	1.0–2.0	875	$1,293	$1.48	5d	12	0.59mi
103 Jones Ave Unit B Simpsonville, SC	2.0	1.5	1360	$1,700	$1.25	25d	1	0.69mi
209 Jonesville Rd Simpsonville, SC	2.0	1.0	900	$1,380	$1.53	16d	1	0.83mi
608 N Maple St Unit A Simpsonville, SC	2.0	1.0	806	$975	$1.21	25d	1	0.92mi
300 Florence Dr Simpsonville, SC	3.0	2.0	1080	$1,525	$1.41	25d	1	1.02mi
107 Hill St Unit D Simpsonville, SC	2.0	1.0	750	$995	$1.33	16d	1	1.03mi
710 N Maple St Simpsonville, SC	2.0	1.0	800	$1,149	$1.44	5d	1	1.19mi
8001 Pointe Grand Pl Simpsonville, SC	1.0–2.0	2.0	1153	$1,395	$1.21	5d	9	1.27mi
113 Fowler Rd Simpsonville, SC	2.0	1.0	800	$1,199	$1.50	25d	1	1.30mi
130 Ashdown Dr Simpsonville, SC	3.0	1.5	1248	$1,550	$1.24	5d	1	1.32mi
1000 Arbor Keats Dr Simpsonville, SC	1.0–2.0	1.0–2.0	916	$1,742	$1.90	25d	10	1.42mi
7001 Wiley Dr Simpsonville, SC	1.0–3.0	1.0–2.0	1517	$2,100	$1.38	5d	39	1.48mi

Listing history 39 events

1. 2026-06-22
   days on market $220,000 Active 40 DOM
2. 2026-06-18
   days on market $220,000 Active 37 DOM
3. 2026-06-17
   days on market $220,000 Active 36 DOM
4. 2026-06-16
   days on market $220,000 Active 35 DOM
5. 2026-06-15
   days on market $220,000 Active 34 DOM
6. 2026-06-13
   days on market $220,000 Active 32 DOM
7. 2026-06-13
   days on market $220,000 Active 31 DOM
8. 2026-06-10
   days on market $220,000 Active 29 DOM
9. 2026-06-09
   days on market $220,000 Active 28 DOM
10. 2026-06-08
    days on market $220,000 Active 27 DOM
11. 2026-06-07
    days on market $220,000 Active 26 DOM
12. 2026-06-03
    days on market $220,000 Active 22 DOM
13. 2026-06-03
    days on market $220,000 Active 21 DOM
14. 2026-06-01
    days on market $220,000 Active 20 DOM
15. 2026-05-31
    days on market $220,000 Active 19 DOM
16. 2026-05-12
    listed $220,000 Active
17. 2019-03-26
    soldstatus $126,000
18. 2019-03-22
    soldstatus $120,000 Sold 469-char remark

    Show marketing remark (469 chars)

    Townhouse located in downtown Simpsonville. Large great room, dining area, plus a breakfast nook, kitchen with plenty of counter space and a half bath make up the first floor. Second floor has two large bedrooms, each with its own bathroom and walk in closet. New laminate flooring on the first floor and new carpet upstairs, new interior paint as well. Newer roof and HVAC. Plenty of parking. Community Pool. Located close to Main Street and with easy access to I-385.

19. 2019-02-11
    historical Contingency Contract 469-char remark

    Show marketing remark (469 chars)

    Townhouse located in downtown Simpsonville. Large great room, dining area, plus a breakfast nook, kitchen with plenty of counter space and a half bath make up the first floor. Second floor has two large bedrooms, each with its own bathroom and walk in closet. New laminate flooring on the first floor and new carpet upstairs, new interior paint as well. Newer roof and HVAC. Plenty of parking. Community Pool. Located close to Main Street and with easy access to I-385.

20. 2019-02-07
    listed $120,000 Active 469-char remark

    Show marketing remark (469 chars)

    Townhouse located in downtown Simpsonville. Large great room, dining area, plus a breakfast nook, kitchen with plenty of counter space and a half bath make up the first floor. Second floor has two large bedrooms, each with its own bathroom and walk in closet. New laminate flooring on the first floor and new carpet upstairs, new interior paint as well. Newer roof and HVAC. Plenty of parking. Community Pool. Located close to Main Street and with easy access to I-385.

21. 2017-10-19
    historical
22. 2017-08-17
    status Active
23. 2017-07-13
    historical Contingency Contract
24. 2017-06-16
    listed $115,000 Active
25. 2016-09-28
    historical
26. 2016-09-28
    status Active
27. 2016-08-29
    historical
28. 2016-08-28
    status Active
29. 2016-07-29
    historical
30. 2016-07-27
    status Active
31. 2016-06-27
    historical
32. 2016-05-21
    price $101,500
33. 2016-04-14
    price $109,900
34. 2016-04-08
    listed $117,500 Active
35. 2010-04-13
    soldstatus $69,000
36. 2010-02-10
    historical
37. 2009-11-13
    listed $73,000
38. 2006-10-19
    soldstatus $97,000
39. 2001-11-02
    soldstatus $10

ⓘ 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: $1,061 · $88/mo
• Projected year-2 tax: $1,254 · $104/mo
• Expected delta: +$193/yr (+$16/mo · 18.2%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,741
• − Mortgage interest: −$12,323
• − Property taxes: −$1,061
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$6,400
• Taxable loss: −$4,302
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $622/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: 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

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

• Census place: Simpsonville, SC
• County: Greenville County · 573,815 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: 865.0

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

Price history

+126.8% since first listed

24 events — show timeline

• 2026-05-12 Listed $220,000 FSBO.com
• 2019-03-26 Sold (Public Records) $126,000 Public Records
• 2019-03-22 Sold (MLS) $120,000 Greater Greenville MLS
• 2019-02-11 Contingent — Greater Greenville MLS
• 2019-02-07 Listed $120,000 Greater Greenville MLS
• 2017-10-19 Listing Removed — Greater Greenville MLS
• 2017-08-17 Relisted — Greater Greenville MLS
• 2017-07-13 Contingent — Greater Greenville MLS
• 2017-06-16 Listed $115,000 Greater Greenville MLS
• 2016-09-28 Listing Removed — Greater Greenville MLS
• 2016-09-28 Relisted — Greater Greenville MLS
• 2016-08-29 Listing Removed — Greater Greenville MLS
• 2016-08-28 Relisted — Greater Greenville MLS
• 2016-07-29 Listing Removed — Greater Greenville MLS
• 2016-07-27 Relisted — Greater Greenville MLS
• 2016-06-27 Listing Removed — Greater Greenville MLS
• 2016-05-21 Price Changed $101,500 Greater Greenville MLS
• 2016-04-14 Price Changed $109,900 Greater Greenville MLS
• 2016-04-08 Listed $117,500 Greater Greenville MLS
• 2010-04-13 Sold (MLS) $69,000 Greater Greenville MLS
• 2010-02-10 Listing Removed — Greater Greenville MLS
• 2009-11-13 Listed $73,000 Greater Greenville MLS
• 2006-10-19 Sold (Public Records) $97,000 Public Records
• 2001-11-02 Sold (Public Records) $10 Public Records

Property tax history

-4.6%/yr

Latest (2025): $1,061 · +3.5% YoY. Source: county tax records.