117 Lincoln Dr · Spartanburg, SC 29306

$177,500

3 bd · 1.0 ba · 1,405 sqft · SingleFamily public records · 114 Days on market

Built 1967 Est $243k · 27% under ↓ 1% since listing

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Why this score? — see what drove the C- 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 +14.3/30.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming brick ranch nestled on a spacious 0.41-acre lot in Spartanburg! Offering 3 bedrooms, 1 bath, and approximately 1,405 square feet, this single-family home blends classic character with flexible living space. Step inside to find a warm and inviting layout filled with natural light and comfortable living areas perfect for everyday living. The added flex room provides extra versatility, ideal for a home office, playroom, second living area, or guest space. Outside, you’ll love the generous yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. The solid brick exterior adds timeless appeal and low-maintenance durability. Priced to sell, and equipped with a new HVAC system, this home is a fantastic opportunity for first-time buyers looking to build equity or investors seeking a strong rental property. Conveniently located near downtown Spartanburg, shopping, dining, and major roadways, this property offers both comfort and convenience. Don’t miss your chance to make this inviting home yours!

Key facts

• Generous yard
• Bonus room
• Spacious lot

Tags

• BRICK RANCH
• SPACIOUS LOT
• BONUS ROOM
• GENEROUS YARD
• SOLID BRICK EXTERIOR
• NEW HVAC SYSTEM

Property features AI

Finance

• Other: Lead-based paint and residential property disclosures required
• HOA & community: No HOA fees

Exterior

• Parking: Driveway parking; Paved concrete driveway; No garage
• Utilities: Public water; Public sewer; Public garbage pickup; Public utilities
• Home design: Single-story home; Primary entry and living on one level; Approximately 50+ years old
• Construction: Full brick veneer exterior; Composition shingle roof; Crawl space/slab foundation
• Exterior features: Fenced yard

Interior

• Kitchen: Cooktop (gas); Wall ovens; Gas oven; Dishwasher; 9 x 9 kitchen
• Bedrooms: Primary bedroom on main level with tub/shower (13 x 12); Second bedroom 13 x 11; Third bedroom 9 x 12; Three bedrooms on the main level
• Flooring: Hardwood floors; Laminate flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump for heating; Heat pump for cooling; Gas water heater
• Interior features: Cable available; Ceiling fans; Smoke detector; Countertops (other); Gas log fireplace
• Laundry & utility: Laundry on first floor; Walk-in laundry area; Washer connection; Dryer hookups for gas and electric; Multiple dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $34 ($404/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 $152k (14.4% below list).
• Recommended offer: $152k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 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.
• Zoned schools: E. P. Todd School (math 18% / reading 29%, grade F, #467 of 597 statewide, top 78%, 576 students, 100% FRL); Spartanburg High (math 67% / reading 79%, grade B+, #44 of 196 statewide, top 23%, 2,056 students, 85% FRL) — zoned schools average 93% FRL vs 62% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 236 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• This rent runs 44% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 114 days — a 9% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 2 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: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,902 (14.4% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $243,065
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
226 Woodview Ave Ave	0.11mi	3/2.5	1,400 (-0%)	2mo	$230,000	$164	86
207 High St	0.10mi	3/2.5	1,401 (-0%)	4mo	$259,000	$185	85
207 Woodview Ave	0.16mi	3/2.0	1,421 (+1%)	4mo	$189,900	$134	84
306 Carolyn Dr	0.12mi	3/2.5	1,364 (-3%)	7mo	$258,000	$189	78
101 Beth Ct	0.55mi	3/1.5	1,398 (-0%)	1mo	$179,000	$128	70
524 Caulder Ave	0.24mi	3/2.0	1,240 (-12%)	1mo	$252,000	$203	64
290 Caulder Cir	0.53mi	3/3.0	1,271 (-10%)	0mo	$220,000	$173	51
815 S Liberty St	0.57mi	3/2.0	1,253 (-11%)	1mo	$195,000	$156	50
104 Carrollwood Ln	0.53mi	3/2.5	1,560 (+11%)	1mo	$299,900	$192	50
425 E Shore Dr	0.72mi	3/1.5	1,320 (-6%)	6mo	$177,500	$134	49
218 Caulder Cir	0.53mi	3/2.0	1,237 (-12%)	10mo	$199,990	$162	43
132 League St	0.74mi	3/2.0	1,205 (-14%)	2mo	$219,100	$182	36

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-25,926
• Equity at exit: $26,466

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-16,946
• 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 29306

• Home prices YoY: -29.9%
• Rents YoY: 3.5%
• Active inventory: 236
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,519 high
• Mortgage (P&I): −$931
• Tax from tax record: −$162 /mo · $1,939/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $34

Break-even live

Break-even rent $1,476

Max offer price $177,500

Occupancy floor 93%

Sensitivity live

Price	-10% $134	-5% $84	+0% $34	+5% $-17	+10% $-67
Rent	-10% $-86	-5% $-26	+0% $34	+5% $94	+10% $154
Rate	-1.0pp $123	-0.5pp $79	base $34	+0.5pp $-12	+1.0pp $-59

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: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 High St Spartanburg, SC	3.0	1.5	1726	$1,650	$0.96	23d	1	0.17mi
938 Logan St Unit A Spartanburg, SC	2.0	2.5	980	$1,600	$1.63	23d	1	0.62mi
88 W Park Dr Unit H Spartanburg, SC	2.0	1.0	950	$875	$0.92	23d	1	0.69mi
102 Harvard Dr Spartanburg, SC	2.0	1.0	1000	$1,300	$1.30	15d	1	0.89mi
630 S Converse St Spartanburg, SC	2.0	1.0	912	$995	$1.09	23d	1	0.92mi
249 E Hampton Ave Spartanburg, SC	3.0	2.0	1450	$1,475	$1.02	23d	1	1.07mi
318 Alexander Ave Spartanburg, SC	4.0	2.0	1480	$1,695	$1.15	23d	1	1.13mi
1097 Union St Spartanburg, SC	1.0–2.0	1.0–2.0	951	$2,009	$2.11	15d	21	1.16mi
111 Timothy St Spartanburg, SC	2.0	1.0	1100	$1,600	$1.45	23d	1	1.31mi
334 W Hampton Ave Unit 1 Spartanburg, SC	2.0	1.0	895	$1,100	$1.23	23d	1	1.35mi
522 Pennwood Dr Spartanburg, SC	3.0	1.0	1153	$1,400	$1.21	23d	1	1.47mi

Listing history 21 events

1. 2026-06-21
   days on market $177,500 Active 114 DOM
2. 2026-06-18
   days on market $177,500 Active 111 DOM
3. 2026-06-17
   days on market $177,500 Active 110 DOM
4. 2026-06-16
   days on market $177,500 Active 109 DOM
5. 2026-06-15
   days on market $177,500 Active 108 DOM
6. 2026-06-14
   days on market $177,500 Active 106 DOM
7. 2026-06-13
   days on market $177,500 Active 105 DOM
8. 2026-06-10
   days on market $177,500 Active 103 DOM
9. 2026-06-09
   pricedays on market $177,500 Active 102 DOM
10. 2026-06-08
    days on market $180,000 Active 101 DOM
11. 2026-06-07
    days on market $180,000 Active 100 DOM
12. 2026-06-02
    days on market $180,000 Active 95 DOM
13. 2026-06-01
    days on market $180,000 Active 94 DOM
14. 2026-05-31
    days on market $180,000 Active 93 DOM
15. 2026-05-30
    days on market $180,000 Active 92 DOM
16. 2026-05-05
    price $180,000 1074-char remark

    Show marketing remark (1074 chars)

    Welcome home to this charming brick ranch nestled on a spacious 0.41-acre lot in Spartanburg! Offering 3 bedrooms, 1 bath, and approximately 1,405 square feet, this single-family home blends classic character with flexible living space. Step inside to find a warm and inviting layout filled with natural light and comfortable living areas perfect for everyday living. The added flex room provides extra versatility, ideal for a home office, playroom, second living area, or guest space. Outside, you’ll love the generous yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. The solid brick exterior adds timeless appeal and low-maintenance durability. Priced to sell, and equipped with a new HVAC system, this home is a fantastic opportunity for first-time buyers looking to build equity or investors seeking a strong rental property. Conveniently located near downtown Spartanburg, shopping, dining, and major roadways, this property offers both comfort and convenience. Don’t miss your chance to make this inviting home yours!

17. 2026-05-05
    price $180,000

    Show marketing remark (1074 chars)

    Welcome home to this charming brick ranch nestled on a spacious 0.41-acre lot in Spartanburg! Offering 3 bedrooms, 1 bath, and approximately 1,405 square feet, this single-family home blends classic character with flexible living space. Step inside to find a warm and inviting layout filled with natural light and comfortable living areas perfect for everyday living. The added flex room provides extra versatility, ideal for a home office, playroom, second living area, or guest space. Outside, you’ll love the generous yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. The solid brick exterior adds timeless appeal and low-maintenance durability. Priced to sell, and equipped with a new HVAC system, this home is a fantastic opportunity for first-time buyers looking to build equity or investors seeking a strong rental property. Conveniently located near downtown Spartanburg, shopping, dining, and major roadways, this property offers both comfort and convenience. Don’t miss your chance to make this inviting home yours!

18. 2026-04-10
    price $182,000
19. 2026-03-18
    price $183,000
20. 2026-02-27
    listed $182,000 Active 1074-char remark

    Show marketing remark (1074 chars)

    Welcome home to this charming brick ranch nestled on a spacious 0.41-acre lot in Spartanburg! Offering 3 bedrooms, 1 bath, and approximately 1,405 square feet, this single-family home blends classic character with flexible living space. Step inside to find a warm and inviting layout filled with natural light and comfortable living areas perfect for everyday living. The added flex room provides extra versatility, ideal for a home office, playroom, second living area, or guest space. Outside, you’ll love the generous yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. The solid brick exterior adds timeless appeal and low-maintenance durability. Priced to sell, and equipped with a new HVAC system, this home is a fantastic opportunity for first-time buyers looking to build equity or investors seeking a strong rental property. Conveniently located near downtown Spartanburg, shopping, dining, and major roadways, this property offers both comfort and convenience. Don’t miss your chance to make this inviting home yours!

21. 2026-02-27
    listed $185,000 Active

    Show marketing remark (1074 chars)

    Welcome home to this charming brick ranch nestled on a spacious 0.41-acre lot in Spartanburg! Offering 3 bedrooms, 1 bath, and approximately 1,405 square feet, this single-family home blends classic character with flexible living space. Step inside to find a warm and inviting layout filled with natural light and comfortable living areas perfect for everyday living. The added flex room provides extra versatility, ideal for a home office, playroom, second living area, or guest space. Outside, you’ll love the generous yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. The solid brick exterior adds timeless appeal and low-maintenance durability. Priced to sell, and equipped with a new HVAC system, this home is a fantastic opportunity for first-time buyers looking to build equity or investors seeking a strong rental property. Conveniently located near downtown Spartanburg, shopping, dining, and major roadways, this property offers both comfort and convenience. Don’t miss your chance to make this inviting home yours!

ⓘ 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: $1,939 · $162/mo
• Projected year-2 tax: $1,939 · $162/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 6/10 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: $18,228
• − Mortgage interest: −$9,943
• − Property taxes: −$1,939
• − Insurance: −$888
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$5,164
• Taxable loss: −$2,621
• Est. tax savings @ 24.0%: +$629
• After-tax cash flow: $1,033/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): 16,714
• Household income: $41,356
• Rent vs Own: 54.5% rent · 45.5% own
• Severe rent burden: 1064.0

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 0.61)
• Race & ethnicity: Black 50% White 36% Hispanic / Latino 10% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 1% Serbian 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -90.67%
• Current HPI: 213.1266
• Rent YoY: ▲ 3.46%
• 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

-1.1% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $180,000 SPMLS
• 2026-05-05 Price Changed $180,000 Greater Greenville MLS
• 2026-04-10 Price Changed $182,000 Greater Greenville MLS
• 2026-03-18 Price Changed $183,000 Greater Greenville MLS
• 2026-02-27 Listed $185,000 Greater Greenville MLS
• 2026-02-27 Listed $182,000 SPMLS

Property tax history

+23.8%/yr

Latest (2025): $1,939 · +0.5% YoY. Source: county tax records.