739 Baltimore St · Spartanburg, SC 29303

$104,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 107 Days on market

Built 1966 9,583 sqft lot Est $99k · at est.

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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).

• Cash flow +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +8.2/10.0
• ARV discount +5.4/15.0
• Livability +3.8/5.0
• 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

This May Be Your Next Investment Property! Fix and Flip or keep to add to your rental property portfolio! Nice older home with good bones, perfect for your next updating project. Home likely will not qualify for any gov't financing. Could possibly be financed conventional. Great location! Near Westgate Mall and loads of restaurants and shopping. Just 5 mins. to I-26.

Key facts

• Long-term rental
• Fix-and-flip project
• Minutes from i-26

Tags

• INVESTOR OPPORTUNITY
• FIX-AND-FLIP PROJECT
• LONG-TERM RENTAL
• SHOPPING AND DINING SPOTS
• MINUTES FROM I-26

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Wood siding; Composition roof; Slab foundation; Built area above grade: 720
• Exterior features: Level lot

Interior

• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Central electric air conditioning
• Interior features: Soaking tub; No basement
• Laundry & utility: Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: Spartanburg High (math 67% / reading 79%, grade B+, #44 of 196 statewide, top 23%, 2,056 students, 85% FRL) — zoned schools average 85% FRL vs 62% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 73% at this address vs 38% district-wide (+36 pts) — the actual schools serving this property are materially stronger than the Spartanburg 07 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.7%/yr); 378 active listings in the ZIP; 9 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 $719 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($95k) 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.
• Current owner paid $76k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $94,640 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.32% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.30%
• DSCR: 1.59
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $99,360
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
739 Baltimore St	0.00mi	2/1.0	720 (0%)	0mo	$99,000	$138	100
443 Eloise Dr	0.28mi	2/1.0	809 (+12%)	14mo	$40,000	$49	55
201 Herbert St	0.45mi	3/1.0 (+1)	827 (+15%)	22mo	$115,000	$139	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 · 3.69% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $4,708
• Equity at exit: $15,507

10-year hold

• IRR: 14.3%
• Equity multiple: 2.19×
• Total profit: $34,752
• Equity at exit: $8,992

Cash invested: $29,120 (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 29303

• Home prices YoY: -14.1%
• Rents YoY: 3.7%
• Active inventory: 378
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,373 high
• Mortgage (P&I): −$545
• Tax from tax record: −$173 /mo · $2,081/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $323

Break-even live

Break-even rent $965

Max offer price $104,000

Occupancy floor 72%

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	21d	1	0.70mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,292	$1.29	13d	1	0.81mi
149 S Daniel Morgan Ave Unit 2B Spartanburg, SC	1.0	1.0	750	$1,195	$1.59	21d	1	0.96mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	21d	1	0.98mi
600 Magnolia St Unit G8 Spartanburg, SC	1.0	1.0	617	$1,250	$2.03	21d	1	1.04mi
142 Magnolia St Unit 101 Spartanburg, SC	1.0	1.0	680	$1,400	$2.06	21d	1	1.09mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	13d	8	1.26mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$1,982	$1.72	13d	32	1.29mi
18 Front St Unit B Spartanburg, SC	1.0	1.0	690	$750	$1.09	13d	1	1.31mi

Listing history 8 events

1. 2026-06-09
   days on marketlisting id $104,000 Pending 107 DOM
2. 2026-06-03
   days on marketlisting id $104,000 Pending
3. 2026-04-28
   price $104,000
4. 2026-02-10
   listed $109,000 Active
5. 2025-09-05
   soldstatus $76,000
6. 2025-09-03
   soldstatus $76,000 Closed 370-char remark

   Show marketing remark (370 chars)

   This May Be Your Next Investment Property! Fix and Flip or keep to add to your rental property portfolio! Nice older home with good bones, perfect for your next updating project. Home likely will not qualify for any gov't financing. Could possibly be financed conventional. Great location! Near Westgate Mall and loads of restaurants and shopping. Just 5 mins. to I-26.

7. 2025-08-20
   status Pending 370-char remark

   Show marketing remark (370 chars)

   This May Be Your Next Investment Property! Fix and Flip or keep to add to your rental property portfolio! Nice older home with good bones, perfect for your next updating project. Home likely will not qualify for any gov't financing. Could possibly be financed conventional. Great location! Near Westgate Mall and loads of restaurants and shopping. Just 5 mins. to I-26.

8. 2025-08-14
   listed $82,900 Active 370-char remark

   Show marketing remark (370 chars)

   This May Be Your Next Investment Property! Fix and Flip or keep to add to your rental property portfolio! Nice older home with good bones, perfect for your next updating project. Home likely will not qualify for any gov't financing. Could possibly be financed conventional. Great location! Near Westgate Mall and loads of restaurants and shopping. Just 5 mins. to I-26.

ⓘ 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: $2,081 · $173/mo
• Projected year-2 tax: $2,081 · $173/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 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,479
• − Mortgage interest: −$5,826
• − Property taxes: −$2,081
• − Insurance: −$520
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − Depreciation: −$3,025
• Taxable income: $2,390
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $3,299/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): 28,381
• Household income: $48,295
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1218.0

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 42% Black 36% Hispanic / Latino 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Subsaharan African 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 2% 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: ▼ -45.19%
• Current HPI: 274.443
• Rent YoY: ▲ 3.69%
• 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

+25.5% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $104,000 SPMLS
• 2026-02-10 Listed $109,000 SPMLS
• 2025-09-05 Sold (Public Records) $76,000 Public Records
• 2025-09-03 Sold (MLS) $76,000 SPMLS
• 2025-08-20 Pending — SPMLS
• 2025-08-14 Listed $82,900 SPMLS

Property tax history

+4.9%/yr

Latest (2025): $2,081 · +0.7% YoY. Source: county tax records.