788 Wofford St · Spartanburg, SC 29301

$99,900

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 37 Days on market

Built 1966 8,276 sqft lot Est $117k · 14% under ↓ 46% since listing

---

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 +28.9/30.0
• ARV discount +14.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming single-family residence located in the heart of Spartanburg, SC, offering convenience and potential in an established neighborhood. This 3-bedroom, 1-bath home features approximately 850 heated square feet of living space on a manageable 0.19-acre lot. The interior provides a functional layout with a cozy living area, dedicated bedrooms, and a full bath on the main level. Ideal for first-time buyers, investors, or those looking to downsize, the property offers a solid structure with room for updates and personal touches. Located close to schools, shopping, dining, and downtown Spartanburg amenities, this home combines accessibility with residential comfort. The level lot provides o

Key facts

• Close to schools
• Full bath
• Functional layout

Tags

• SINGLE-FAMILY RESIDENCE
• FUNCTIONAL LAYOUT
• DEDICATED BEDROOMS
• FULL BATH
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Exterior

• Utilities: Public sewer; Public water
• Home design: Single-story home
• Construction: Slab foundation
• Exterior features: Partial brick above foundation exterior; Other exterior finish; Paved road frontage; Public water

Interior

• Bedrooms: Master bedroom on the main level; Bedroom 2 on the main level; Bedroom 3 on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Central electric heating
• Interior features: Central cooling; Central electric heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.9% in Spartanburg — 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 76/100 on livability (#24 in SC, #3,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• Spartanburg 07 (urban): math 34% / reading 41% proficiency, ranked #39 of 80 in SC (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.6%/yr); 466 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 1.28% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.48%
• DSCR: 1.64
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $116,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
776 Wofford St	0.03mi	3/1.0	850 (+1%)	7mo	$95,000	$112	91
784 Wofford St	0.01mi	3/1.0	840 (0%)	13mo	$98,500	$117	89
760 Wofford St	0.08mi	3/1.0	840 (0%)	12mo	$154,500	$184	86
201 Herbert St	0.16mi	3/1.0	827 (-2%)	22mo	$115,000	$139	71
443 Eloise Dr	0.36mi	2/1.0 (-1)	809 (-4%)	14mo	$40,000	$49	60
739 Baltimore St	0.30mi	2/1.0 (-1)	720 (-14%)	0mo	$99,000	$138	57
567 Bee St	0.42mi	3/1.0	867 (+3%)	24mo	$128,000	$148	55
234 Southstar St	0.48mi	2/1.0 (-1)	889 (+6%)	10mo	$160,000	$180	55
704 Fairfax St	0.57mi	3/1.0	900 (+7%)	19mo	$160,000	$178	46
556 Wofford St	0.50mi	2/1.0 (-1)	891 (+6%)	19mo	$60,000	$67	45
726 Farley Ave	0.39mi	3/1.0	937 (+12%)	23mo	$135,500	$145	44
3 Jordan St	0.75mi	3/1.0	955 (+14%)	13mo	$100,000	$105	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $1,555
• Equity at exit: $14,895

10-year hold

• IRR: 7.9%
• Equity multiple: 1.52×
• Total profit: $14,542
• Equity at exit: $8,638

Cash invested: $27,972 (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 29301

• Home prices YoY: -25.3%
• Rents YoY: -2.6%
• Active inventory: 466
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$524
• Tax from tax record: −$111 /mo · $1,327/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $337

Break-even live

Break-even rent $856

Max offer price $99,900

Occupancy floor 69%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Vanderbilt Ln Spartanburg, SC	1.0–2.0	1.0–2.0	787	$1,195	$1.52	20d	1	0.48mi
321 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	20d	1	0.52mi
317 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	20d	1	0.52mi
694 Saxon Ave Spartanburg, SC	3.0	1.0	1014	$1,300	$1.28	20d	1	0.55mi
408 Abner Rd Spartanburg, SC	2.0–3.0	2.0	996	$1,515	$1.52	20d	6	0.91mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,650	$1.65	13d	1	0.95mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	20d	1	1.09mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	20d	1	1.13mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	20d	1	1.25mi
334 W Hampton Ave Unit 1 Spartanburg, SC	2.0	1.0	895	$1,100	$1.23	20d	1	1.29mi
111 Timothy St Spartanburg, SC	2.0	1.0	1100	$1,600	$1.45	20d	1	1.30mi
201 Powell Mill Rd Spartanburg, SC	1.0–3.0	1.0–2.0	1426	$1,345	$0.94	13d	23	1.37mi
311 Powell Mill Rd Spartanburg, SC	2.0	1.0	675	$995	$1.47	20d	1	1.38mi
300 Amherst Dr Spartanburg, SC	2.0	1.0	763	$975	$1.28	13d	1	1.42mi

Listing history 7 events

1. 2026-05-31
   status $99,900 Pending 37 DOM
2. 2026-05-30
   days on market $99,900 Active 37 DOM
3. 2026-05-15
   price $99,900
4. 2026-04-23
   listed $104,900 Active
5. 2021-05-18
   soldstatus $680,000
6. 2019-01-28
   soldstatus $175,000
7. 2011-12-28
   soldstatus $183,600

ⓘ 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: $1,327 · $111/mo
• Projected year-2 tax: $1,327 · $111/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 15 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,395
• − Mortgage interest: −$5,596
• − Property taxes: −$1,327
• − Insurance: −$500
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$2,906
• Taxable income: $2,604
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $3,425/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 07
• NCES district ID: 4503660
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $35,825
• Composite: 31.04/100
• National rank: #6087
• State rank: #39 of 80 in SC

Livability — Spartanburg

• Score: 76/100
• State rank: #24
• US rank: #3679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spartanburg, SC
• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 36,278
• Household income: $57,805
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1331.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 13% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 83% English-only · Spanish 10% Other Indo-European 3% 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: ▼ -77.19%
• Current HPI: 228.4172
• Rent YoY: ▼ -2.64%
• Metro: Spartanburg, 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

-45.6% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $99,900 Consolidated MLS
• 2026-04-23 Listed $104,900 Consolidated MLS
• 2021-05-18 Sold (Public Records) $680,000 Public Records
• 2019-01-28 Sold (Public Records) $175,000 Public Records
• 2011-12-28 Sold (Public Records) $183,600 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,327 · +0.9% YoY. Source: county tax records.