156 Sparklewood Dr · Orangeburg, SC 29115

$177,500

4 bd · 2.0 ba · 2,432 sqft · Manufactured · 18 Days on market

Built 2020 1.38 ac lot

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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).

• Cash flow +14.1/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• 1% rule +3.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TMS 0141-00-03-069.000 and 001

Key facts

• 1.38 acre lot
• Built 2020
• Listed 18 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $178k.

Deal economics

• At list price, monthly cash flow is $27 ($320/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 $143k (19.6% below list).
• Recommended offer: $143k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in Orangeburg — 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 54/100 on livability (#324 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety B; Watch: housing C-, schools F, crime F.
• Market conditions: 227 active listings in the ZIP; 87 units permitted in Orangeburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Orangeburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,636 (19.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 0.80% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-27,119
• Equity at exit: $26,466

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-21,655
• Equity at exit: $15,347

Cash invested: $49,700 (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 29115

• Home prices YoY: -27.3%
• Active inventory: 227
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$931
• Tax from tax record: −$95 /mo · $1,144/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $27

Break-even live

Break-even rent $1,393

Max offer price $177,500

Occupancy floor 93%

Sensitivity live

Price	-10% $127	-5% $77	+0% $27	+5% $-24	+10% $-74
Rent	-10% $-86	-5% $-30	+0% $27	+5% $83	+10% $139
Rate	-1.0pp $116	-0.5pp $72	base $27	+0.5pp $-19	+1.0pp $-66

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2025-10-15
   soldstatus $186,500 Closed 30-char remark

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

2. 2025-09-10
   status Pending 30-char remark

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

3. 2025-09-10
   status Pending

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

4. 2025-08-29
   status Active

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

5. 2025-08-29
   status Active 30-char remark

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

6. 2025-07-01
   status Pending 30-char remark

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

7. 2025-07-01
   status Pending

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

8. 2025-06-25
   listed $177,500 Active 30-char remark

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

9. 2025-06-25
   listed $177,500 Active

   Show marketing remark (30 chars)

   TMS 0141-00-03-069.000 and 001

ⓘ 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: $1,144 · $95/mo
• Projected year-2 tax: $1,144 · $95/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $17,116
• − Mortgage interest: −$9,943
• − Property taxes: −$1,144
• − Insurance: −$888
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$5,164
• Taxable loss: −$2,760
• Est. tax savings @ 24.0%: +$662
• After-tax cash flow: $983/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)

No district data.

Livability — Orangeburg

• Score: 54/100
• State rank: #324
• US rank: #23942

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,135
• Population (ZIP): 27,179

Population outlook (Orangeburg County) Hauer SSP2

• Today (2025): 82,698 people
• By 2030: 78,615 · -4.9%
• By 2040: 69,308 · -16.2%
• By 2050: 60,629 · -26.7%
• By 2075: 42,678 · -48.4%
• By 2100: 28,136 · -66.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 20% Hispanic / Latino 2% Two or more races 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Orangeburg

• 2024 margin: Strong D (+24.6) · D 61.8% · R 37.2% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 38.1pp · 2024: 24.6pp
• All cycles: 2024: D+24.6 2020: D+33.2 2016: D+37.0 2012: D+43.5 2008: D+38.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.65%
• Current HPI: 150.823
• 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

+5.1% since first listed

9 events — show timeline

• 2025-10-15 Sold (MLS) $186,500 Charleston Trident MLS
• 2025-09-10 Pending — Charleston Trident MLS
• 2025-09-10 Pending — Consolidated MLS
• 2025-08-29 Relisted — Consolidated MLS
• 2025-08-29 Relisted — Charleston Trident MLS
• 2025-07-01 Pending — Charleston Trident MLS
• 2025-07-01 Pending — Consolidated MLS
• 2025-06-25 Listed $177,500 Consolidated MLS
• 2025-06-25 Listed $177,500 Charleston Trident MLS

Property tax history

-28.5%/yr

Latest (2024): $1,144 · +14.3% YoY. Source: county tax records.