116 Pacific Mill Pl #6 · Lyman, SC 29365

$189,990

3 bd · 2.5 ba · 1,305 sqft · Townhouse · 21 Days on market

Built 2026 Excellent condition $146/sqft · 13% below area Est $219k · 13% under

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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).

• ARV discount +13.5/15.0
• Cash flow +12.8/30.0
• Schools +5.3/10.0
• Condition / age +4.8/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-In Ready! Price Improvement! The Aspen offers a beautifully designed living space that maximizes space while keeping everyday living comfortable. From the front entry, the foyer opens into an open kitchen, dining area, and great room, creating a main living space that feels open but connected. The kitchen includes an island and pantry storage, with clear sightlines into the dining and living areas. A rear patio extends the living space outdoors, while a conveniently placed powder room and storage closet completes the main level. This floor plan features 1,305 square feet, 3 bedrooms, and 2.

Key facts

• Dining area
• Storage closet
• Powder room

Tags

• OPEN KITCHEN
• DINING AREA
• GREAT ROOM
• REAR PATIO
• POWDER ROOM
• STORAGE CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $190k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-16 ($-191/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (13.6% below list).
• Recommended offer: $164k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.9% in Lyman — 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 68/100 on livability (#83 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Duncan Elementary School of The Arts (math 30% / reading 37%, grade F, #362 of 597 statewide, top 61%, 689 students, 100% FRL); D. R. Hill Middle (math 28% / reading 38%, grade F, #116 of 229 statewide, top 51%, 702 students, 80% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL) — zoned schools average 79% FRL vs 39% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 339 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 21 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Recommended offer $164,185 (13.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.86% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (median comp): $219,200
• List price: $189,990
• Delta: -13.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Pacific Mill Pl	0.57mi	3/2.5	1,305 (0%)	0mo	$189,990	$146	73
116 Pacific Mill Pl	0.58mi	3/2.5	1,305 (0%)	3mo	$189,990	$146	71
106 Pacific Mill Pl	0.59mi	3/2.5	1,305 (0%)	4mo	$189,990	$146	69
845 Ernest Ln	0.54mi	3/2.5	1,276 (-2%)	6mo	$189,900	$149	66
857 Ernest Ln	0.56mi	3/2.5	1,276 (-2%)	6mo	$187,900	$147	65
865 Ernest Ln	0.57mi	3/2.5	1,276 (-2%)	7mo	$199,900	$157	64
819 Ernest Ln	0.52mi	3/2.5	1,480 (+13%)	6mo	$199,900	$135	48
855 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	6mo	$214,900	$145	46
847 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	7mo	$224,900	$152	46
867 Ernest Ln	0.57mi	3/2.5	1,480 (+13%)	6mo	$214,900	$145	46
863 Ernest Ln	0.57mi	3/2.5	1,480 (+13%)	6mo	$224,900	$152	46
859 Ernest Ln	0.56mi	3/2.5	1,480 (+13%)	7mo	$222,400	$150	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-31,776
• Equity at exit: $28,328

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-28,874
• Equity at exit: $16,427

Cash invested: $53,197 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 6 under contract
• Months of supply: 19.5 mo (5%/mo absorbed)
• Median asking: $189,990 ($146/sqft)
• Median days on market: 89 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +15.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29365

• Home prices YoY: -18.1%
• Active inventory: 339
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-16

Break-even live

Break-even rent $1,662

Max offer price $187,687

Occupancy floor 96%

Sensitivity live

Price	-10% $115	-5% $50	+0% $-16	+5% $-82	+10% $-147
Rent	-10% $-146	-5% $-81	+0% $-16	+5% $49	+10% $114
Rate	-1.0pp $80	-0.5pp $32	base $-16	+0.5pp $-65	+1.0pp $-115

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: $47,498
• Closing costs: $5,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Meadow St Lyman, SC	2.0	1.0	1105	$1,375	$1.24	10d	1	0.29mi
855 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	162d	1	0.60mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	154d	1	0.61mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	162d	1	0.61mi
6 Spur St Lyman, SC	2.0	1.0	1338	$1,500	$1.12	10d	1	0.64mi
924 Sparrow Ln Duncan, SC	3.0	2.0	1217	$1,495	$1.23	10d	1	1.00mi
924 Sparrow Ln Duncan, SC	3.0	2.0	1217	$1,545	$1.27	21d	1	1.00mi
928 Sparrow Ln Duncan, SC	2.0	2.0	1003	$1,545	$1.54	10d	1	1.00mi
527 Nova Ln Duncan, SC	3.0	2.5	1404	$1,645	$1.17	162d	1	1.04mi
512 Nova Ln Duncan, SC	3.0	2.5	1404	$1,645	$1.17	21d	1	1.05mi
610 Universal Dr Lyman, SC	1.0–3.0	1.0–2.5	1060	$1,865	$1.76	0d	7	1.11mi
1042 Westergard Way Lyman, SC	3.0	2.5	1480	$1,500	$1.01	51d	1	1.18mi
Paradise Pl Wellford, SC	2.0	2.5	990	$1,395	$1.41	51d	1	1.29mi
Halo Dr Wellford, SC	2.0	1.5	995	$1,295	$1.30	2d	1	1.30mi
244 Halo Dr Wellford, SC	2.0–3.0	2.5	1138	$1,495	$1.31	9d	4	1.31mi
Angelic Pl Wellford, SC	3.0	2.5	1280	$1,520	$1.19	162d	2	1.33mi
266 Christopher Street Ext Duncan, SC	3.0	2.5	1606	$1,825	$1.14	51d	1	1.33mi
266 Christopher Street Ext Duncan, SC	3.0	2.5	1606	$1,825	$1.14	162d	1	1.33mi
217 Spring St Duncan, SC	3.0	2.5	1560	$1,769	$1.13	38d	1	1.43mi
361 Cokes Ridge Cir Unit 361 Duncan, SC	3.0	2.0	1193	$1,350	$1.13	10d	1	1.45mi

Listing history 18 events

1. 2026-07-07
   days on market $189,990 Active 21 DOM
2. 2026-07-06
   days on market $189,990 Active 20 DOM
3. 2026-07-05
   days on market $189,990 Active 19 DOM
4. 2026-07-04
   days on market $189,990 Active 18 DOM
5. 2026-07-03
   days on market $189,990 Active 17 DOM
6. 2026-07-02
   days on market $189,990 Active 16 DOM
7. 2026-07-01
   days on market $189,990 Active 15 DOM
8. 2026-06-30
   days on market $189,990 Active 14 DOM
9. 2026-06-29
   days on market $189,990 Active 13 DOM
10. 2026-06-28
    days on market $189,990 Active 12 DOM
11. 2026-06-28
    days on market $189,990 Active 11 DOM
12. 2026-06-27
    days on market $189,990 Active 10 DOM
13. 2026-06-25
    pricedays on market $189,990 Active 8 DOM
14. 2026-06-23
    days on market $199,990 Active 6 DOM
15. 2026-06-22
    days on market $199,990 Active 5 DOM
16. 2026-06-18
    days on market $199,990 Active 2 DOM
17. 2026-06-16
    remarks 699-char remark
18. 2026-06-16
    listed $199,990 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,702
• − Mortgage interest: −$10,642
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$5,527
• Taxable loss: −$3,419
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $630/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This townhouse is in excellent condition with modern amenities and a well-maintained exterior. It offers a great opportunity for both buyers and renters with minimal updates needed.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can increase the home's appeal to potential buyers. ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and tenants. ↑
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and energy efficiency, attracting more buyers/tenants. ↑
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort, attracting more buyers/tenants. ↑

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Duncan Elementary School Of The Arts F SC #362/597 Nat'l #24,455/41,679 Middle Beech Springs Intermediate F SC #78/229 Nat'l #6,005/14,009 High James Byrnes Freshman Academy A SC #12/196 Nat'l #704/17,239

Schools (NCES district)

• District: Spartanburg 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

C Composite livability gradescore 68/100

Livability — Lyman

• Score: 68/100
• State rank: #83
• US rank: #9705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyman, SC
• County: Spartanburg County · 325,495 people
• City population: 14,068
• Metro: Spartanburg, SC
• Population (ZIP): 14,068
• Household income: $76,966
• Rent vs Own: 13.1% rent · 86.9% own
• Severe rent burden: 33% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Languages at home: 83% English-only · Russian/Polish/Slavic 8% Spanish 7% Other Asian/Pacific 1%

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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: ▼ -56.35%
• Current HPI: 254.6167
• Rent YoY: —
• Metro: Spartanburg, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B