147 Highridge Dr · Spartanburg, SC 29307

$145,000

3 bd · 3.0 ba · 1,650 sqft · Condo public records · 10 Days on market

Built 1980

---

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).

• Cash flow +14.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFULLY MAINTAINED, OPEN FEEL, NEWER APPLIANCES, LOTS OF STORAGE, BIG SCREENED PORCH AND TONS OF CURB APPEAL! TAXES REFLECT HOMESTEAD EXEMPTION. CALL FOR APPOINTMENT TO SHOW - 583-8150 - CAROLE 809-4532 - SQ. FT. TO BE VERIFIED. ALL INFORMATION HEREIN DEEMED RELIABLE BUT NOT GUARANTEED!

Key facts

• New privacy fence
• New pella windows
• New deck

Tags

• NEW DECK
• NEW PRIVACY FENCE
• NEW STAINLESS STEEL STOVE
• NEW STAINLESS STEEL DISHWASHER
• NEW GRANITE COUNTERTOPS
• NEW PELLA WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $18 ($210/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 6.4% 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 flat; 269 active listings in the ZIP; 4 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 $1k of loan paydown is wiped out by about $4k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y ago 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 $89k; list at $145k implies a 63% gain — meaningful room to come down on a strong offer.

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 $145,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
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 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: 1.04% ✓
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.64% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.37×
• Total profit: $-25,756
• Equity at exit: $21,620

10-year hold

• IRR: -17.5%
• Equity multiple: 0.16×
• Total profit: $-34,180
• Equity at exit: $12,537

Cash invested: $40,600 (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 29307

• Home prices YoY: -17.7%
• Rents YoY: 0.6%
• Active inventory: 269
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,510 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$76 /mo · $910/yr
• Insurance: −$60
• HOA est. from 4 same-building comps: −$279
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $18

Break-even live

Break-even rent $1,488

Max offer price $145,000

Occupancy floor 94%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Summercreek Dr Spartanburg, SC	3.0	2.5	1500	$1,450	$0.97	21d	1	0.13mi
35 Summercreek Dr Spartanburg, SC	3.0	2.5	1584	$1,595	$1.01	21d	1	0.15mi
1631 Fernwood Glendale Rd Spartanburg, SC	2.0–3.0	1.5	1100	$1,045	$0.95	13d	1	0.61mi
113 Inwood Ct Spartanburg, SC	2.0	2.5	1068	$1,350	$1.26	21d	1	1.37mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-15
   days on market $145,000 Active 10 DOM
2. 2026-06-14
   days on market $145,000 Active 8 DOM
3. 2026-06-13
   days on market $145,000 Active 7 DOM
4. 2026-06-10
   days on market $145,000 Active 5 DOM
5. 2026-06-09
   days on market $145,000 Active 4 DOM
6. 2026-06-08
   days on market $145,000 Active 3 DOM
7. 2026-06-07
   remarks 556-char remark
8. 2026-06-07
   listed $145,000 Active 2 DOM

ⓘ 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: $910 · $76/mo
• Projected year-2 tax: $910 · $76/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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,124
• − Mortgage interest: −$8,122
• − Property taxes: −$910
• − Insurance: −$725
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − HOA: −$3,348
• − Depreciation: −$4,218
• Taxable loss: −$2,099
• Est. tax savings @ 24.0%: +$504
• After-tax cash flow: $714/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

• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 19,115
• Household income: $65,850
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 438.0

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 (74%)
• Race & ethnicity: White 74% Black 20% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -52.58%
• Current HPI: 244.9855
• Rent YoY: ▲ 0.64%
• 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

+61.3% since first listed

6 events — show timeline

• 2026-06-06 Listed $145,000 FSBO.com
• 2024-06-14 Delisted — SPMLS
• 2024-03-25 Listed $189,900 SPMLS
• 2008-02-28 Sold (Public Records) $89,000 Public Records
• 2008-01-31 Sold (MLS) $89,000 SPMLS
• 2007-06-04 Listed $89,900 SPMLS

Property tax history

+2.2%/yr

Latest (2025): $910 · +1.1% YoY. Source: county tax records.