33 Nesbitt Dr Unit *** · Southern Shops, SC 29349

$285,000

4 bd · 2.0 ba · 2,086 sqft · MultiFamily public records · 22 Days on market

Built 1979 1.00 ac lot Est $259k · 10% over

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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 +21.9/30.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• ARV discount +2.9/15.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investor Opportunity in Inman– Turnkey Duplex! Welcome to 33 Nesbitt Road— a well-maintained duplex. Each unit features 2 bedrooms and 1 full bathroom and one half baths, with approximately 1045 square feet per side providing comfortable and functional living space for tenants. Unit’s features include: central heat and air, Dishwasher, patio, range, refrigerator, storage room, washer & dryer connections. Whether you're looking to expand your rental portfolio or step into your first investment property, this duplex offers strong income potential in a high-demand rental area. It is 5 miles from USC Upstate, 3.7 miles from Hendrix Elem school in Boiling Springs, 7 mile

Key facts

• Storage room
• Turnkey duplex
• Central heat and air

Tags

• TURNKEY DUPLEX
• CENTRAL HEAT AND AIR
• STORAGE ROOM
• WASHER AND DRYER CONNECTIONS
• HIGH-DEMAND RENTAL AREA
• CONVENIENT TO SHOPPING

Property features AI

Finance

• Other: Lot approximately 1 acre (dimensions: 150 x 290 x 150 x 292); Zoned County

Exterior

• Utilities: Public water; Septic tank sewer
• Home design: Duplex (residential income); One level
• Construction: Brick veneer and Masonite exterior construction
• Exterior features: Composition roof

Interior

• Heating & cooling: Heat pump heating; Central air conditioning; Electric system components
• Interior features: Electric water heater; Central heat pump (electric) with central air

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive. Per door: $224/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $281k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.7% in Southern Shops — 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 65/100 on livability (#127 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute C-, amenities F, employment F.
• Spartanburg 02 (suburban): math 49% / reading 56% proficiency, ranked #6 of 80 in SC (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James H. Hendrix Elementary (math 55% / reading 45%, grade D+, #163 of 597 statewide, top 28%, 694 students, 89% FRL); Boiling Springs Middle (math 39% / reading 50%, grade D, #52 of 229 statewide, top 23%, 1,068 students, 70% FRL); Boiling Springs High (math 62% / reading 88%, grade A-, #37 of 196 statewide, top 18%, 2,671 students, 60% FRL) — zoned schools average 73% FRL vs 44% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 693 active listings in the ZIP; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• At $2,862/mo this rent would consume 45% of the median local household income ($76k/yr) (locally 271% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 22 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,725 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $258,664
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Nesbitt Dr	0.06mi	4/2.0	2,134 (+2%)	9mo	$240,000	$112	86
23 Palmetto Dr	0.22mi	4/2.0	2,016 (-3%)	18mo	$250,000	$124	69
1123 2nd St	0.11mi	4/2.0	1,846 (-12%)	23mo	$245,500	$133	57

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.74×
• Total profit: $-21,125
• Equity at exit: $42,494

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $4,368
• Equity at exit: $24,642

Cash invested: $79,800 (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 29349

• Home prices YoY: -31.8%
• Rents YoY: 1.8%
• Active inventory: 693
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $2,862 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$199 /mo · $2,392/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $448

Break-even live

Break-even rent $2,295

Max offer price $285,000

Occupancy floor 79%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,862
Total (2 units)			$2,862

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $285,000 Active 22 DOM
2. 2026-06-17
   days on market $285,000 Active 21 DOM
3. 2026-06-16
   days on market $285,000 Active 20 DOM
4. 2026-06-15
   days on market $285,000 Active 19 DOM
5. 2026-06-14
   days on market $285,000 Active 17 DOM
6. 2026-06-13
   days on market $285,000 Active 16 DOM
7. 2026-06-10
   days on market $285,000 Active 14 DOM
8. 2026-06-09
   days on market $285,000 Active 13 DOM
9. 2026-06-08
   days on market $285,000 Active 12 DOM
10. 2026-06-07
    days on market $285,000 Active 11 DOM
11. 2026-06-05
    days on market $285,000 Active 8 DOM
12. 2026-06-03
    remarks 677-char remark
13. 2026-06-02
    days on market $285,000 Active 6 DOM
14. 2026-06-01
    days on market $285,000 Active 5 DOM
15. 2026-05-31
    days on market $285,000 Active 4 DOM
16. 2026-05-30
    days on market $285,000 Active 3 DOM
17. 2026-05-27
    listed $285,000 Active

ⓘ 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: $2,392 · $199/mo
• Projected year-2 tax: $2,392 · $199/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $34,344
• − Mortgage interest: −$15,964
• − Property taxes: −$2,392
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,748
• − Management: −$2,748
• − Depreciation: −$8,291
• Taxable income: $777
• Est. tax owed @ 24.0%: −$186
• After-tax cash flow: $5,193/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 02
• NCES district ID: 4503510
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $49,591
• Composite: 44.79/100
• National rank: #2742
• State rank: #6 of 80 in SC

Livability — Southern Shops

• Score: 65/100
• State rank: #127
• US rank: #12446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• Metro: Spartanburg, SC
• Population (ZIP): 39,083
• Household income: $76,168
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 271.0

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: Predominantly White (80%)
• Race & ethnicity: White 80% Black 9% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Subsaharan African 6% Serbian 3% Scotch-Irish 3%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Russian/Polish/Slavic 7% Spanish 3% Other Asian/Pacific 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: ▼ -113.67%
• Current HPI: 244.0359
• Rent YoY: ▲ 1.79%
• 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 event — show timeline

• 2026-05-27 Listed $285,000 SPMLS

Property tax history

+2.7%/yr

Latest (2025): $2,392 · +1.1% YoY. Source: county tax records.