11 Hillhouse St Unit A-B · Dunean, SC 29605

$460,900

6 bd · 4.0 ba · — sqft · MultiFamily · 77 Days on market

Built 2025 ↓ 6% 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).

• Cash flow +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Exceptional multi-family investment opportunity just minutes from downtown Greenville! This unique property features two separate residences on one lot, offering incredible flexibility for investors or owner-occupants. The front home is a beautifully updated 1920s bungalow, blending classic charm with modern finishes. It offers a bright open layout, luxury vinyl plank flooring, crown molding, and a stylish kitchen with stainless steel appliances, granite countertops, and ample cabinet space. Perfect as a primary residence or rental. The newly built rear home is a standout feature, offering 3 bedrooms and 2 full bathrooms with modern construction, providing low-maintenance living and strong

Key facts

• Bright open layout
• Stylish kitchen
• Crown molding

Tags

• TWO SEPARATE RESIDENCES
• UPDATED 1920S BUNGALOW
• BRIGHT OPEN LAYOUT
• LUXURY VINYL PLANK FLOORING
• CROWN MOLDING
• STYLISH KITCHEN

Property features AI

Exterior

• Parking: 2 parking spaces per unit; Paved driveway
• Utilities: Public water; Public sewer; Gas water heater; Garbage pickup: public; Separate electric, gas, and water meters
• Home design: Two-story building; New construction (approx. 2025); New/Never lived in; Crawl space foundation
• Construction: Built around 2025; Hardboard siding; Composition shingle roof; Crawl space foundation
• Exterior features: Hardboard siding; Composition shingle roof

Interior

• Kitchen: Unit 2: Dishwasher; Unit 2: Electric cooktop; Unit 2: Electric oven
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Unit 3: none; Unit 4: none
• Flooring: Unit 2: Vinyl flooring
• Bathrooms: Unit 1: 2 full bathrooms; Unit 2: 2 full bathrooms; Unit 3: none; Unit 4: none
• Heating & cooling: Gas heating available; Cooling system: Natural gas
• Interior features: Each unit has a kitchen/dining area; Unit 2 includes a dining area
• Laundry & utility: Separate electric, gas, and water meters

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $461k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/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 $460k (0.2% below list).
• Recommended offer: $433k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.0% in Dunean — 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 79/100 on livability (#14 in SC, #2,248 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, employment F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thomas E. Kerns Elementary (math 34% / reading 28%, grade F, #385 of 597 statewide, top 65%, 504 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 49% district-wide (-18 pts) — the specific schools serving this property underperform the Greenville 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 398 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• At $4,602/mo this rent would consume 84% of the median local household income ($66k/yr) (locally 978% 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($433k) 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 $433,246 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 7.47%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 W Wilburn Ave	0.45mi	6/6.0	3,200	16mo	$499,900	$156	45

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-42,580
• Equity at exit: $68,722

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $14,113
• Equity at exit: $39,850

Cash invested: $129,052 (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 29605

• Rents YoY: 3.7%
• Active inventory: 398
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,602 medium
• Mortgage (P&I): −$2,417
• Tax est. 1.5%: −$576 /mo · $6,914/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $450

Break-even live

Break-even rent $4,032

Max offer price $460,900

Occupancy floor 85%

Sensitivity live

Price	-10% $769	-5% $610	+0% $450	+5% $291	+10% $132
Rent	-10% $87	-5% $269	+0% $450	+5% $632	+10% $814
Rate	-1.0pp $682	-0.5pp $568	base $450	+0.5pp $331	+1.0pp $209

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: $115,225
• Closing costs: $13,827
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 Seth St Unit 1234793P Greenville, SC	5.0	4.0	—	$6,240	—	15d	1	1.04mi

Listing history 7 events

1. 2026-06-03
   days on market $460,900 Active 77 DOM
2. 2026-06-03
   days on market $460,900 Active 76 DOM
3. 2026-06-01
   days on market $460,900 Active 75 DOM
4. 2026-05-31
   days on market $460,900 Active 74 DOM
5. 2026-04-30
   price $460,900
6. 2026-04-18
   price $470,900
7. 2026-03-18
   listed $490,900 Active

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

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 ≥102°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: $55,222
• − Mortgage interest: −$25,818
• − Property taxes: −$6,914
• − Insurance: −$2,304
• − Repairs & maintenance: −$4,418
• − Management: −$4,418
• − Depreciation: −$13,408
• Taxable loss: −$2,057
• Est. tax savings @ 24.0%: +$494
• After-tax cash flow: $5,897/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Dunean

• Score: 79/100
• State rank: #14
• US rank: #2248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunean, SC
• County: Greenville County · 573,815 people
• Metro: Greenville-Anderson, SC
• Population (ZIP): 40,717
• Household income: $65,648
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 978.0

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 17% Two or more races 8%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Greenville

• 2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
• 2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -591.71%
• Current HPI: 231.6906
• Rent YoY: ▲ 3.72%
• Metro: Greenville-Anderson, 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

-6.1% since first listed

3 events — show timeline

• 2026-04-30 Price Changed $460,900 Greater Greenville MLS
• 2026-04-18 Price Changed $470,900 Greater Greenville MLS
• 2026-03-18 Listed $490,900 Greater Greenville MLS