150 Gardner Rd · Clifton, SC 29307

$146,000

2 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 235 Days on market

Built 1950 0.50 ac lot Est $216k · 32% under ↓ 12% 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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 2-bath home located just outside of Cowpens! Enjoy 2 workshops and plenty of yard space to enjoy! Relax outdoors on the back deck, unwind on the front porch, or gather under the pergola area. A great blend of comfort and functionality in a peaceful setting!

Key facts

• Front porch
• Pergola area
• Back deck

Tags

• YARD SPACE
• BACK DECK
• FRONT PORCH
• PERGOLA AREA

Property features AI

Exterior

• Parking: Garage with workshop
• Utilities: Public water; Septic sewer
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding; Composition roof
• Exterior features: Patio

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless heating; Electric cooling
• Interior features: Carpet and laminate flooring; Laundry closet
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $76 ($916/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 $126k (13.9% below list).
• Recommended offer: $126k (13.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 47/100 on livability (#377 in SC) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A; Watch: employment D, amenities F, commute F.
• Spartanburg 03 (suburban): math 39% / reading 49% proficiency, ranked #28 of 80 in SC (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cowpens Elementary (math 57% / reading 52%, grade C, #123 of 597 statewide, top 22%, 461 students, 100% FRL); Clifdale Middle (695 students, 78% FRL); Broome High (math 42% / reading 80%, grade C+, #105 of 196 statewide, top 54%, 825 students, 68% FRL) — zoned schools average 82% FRL vs 57% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 58% at this address vs 44% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Spartanburg 03 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 276 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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

• It's been on market 235 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,711 (13.9% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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 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: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $215,982
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4963 S Main St	0.74mi	2/1.0	1,008 (-1%)	6mo	$125,000	$124	59
596 Coopertown Rd	0.52mi	3/2.0 (+1)	1,080 (+6%)	5mo	$229,900	$213	52
600 Coopertown Rd	0.51mi	3/2.0 (+1)	1,080 (+6%)	6mo	$239,900	$222	52

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 · 0.64% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.47×
• Total profit: $-21,748
• Equity at exit: $21,769

10-year hold

• IRR: -10.9%
• Equity multiple: 0.41×
• Total profit: $-24,242
• Equity at exit: $12,623

Cash invested: $40,880 (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: 276
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$766
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $76

Break-even live

Break-even rent $1,160

Max offer price $146,000

Occupancy floor 89%

Sensitivity live

Price	-10% $159	-5% $118	+0% $76	+5% $35	+10% $-6
Rent	-10% $-23	-5% $27	+0% $76	+5% $126	+10% $176
Rate	-1.0pp $150	-0.5pp $114	base $76	+0.5pp $39	+1.0pp $0

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: $36,500
• Closing costs: $4,380
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Goldmine Rd Unit A Spartanburg, SC	2.0	1.5	970	$1,185	$1.22	22d	1	0.95mi
112 Goldmine Rd Unit D Spartanburg, SC	2.0	1.5	970	$1,175	$1.21	15d	1	1.20mi
4147 E Main Street Ext Spartanburg, SC	1.0–2.0	1.0–2.0	1251	$1,515	$1.21	15d	5	1.34mi

Listing history 24 events

1. 2026-06-22
   days on market $146,000 Active 235 DOM
2. 2026-06-18
   days on market $146,000 Active 232 DOM
3. 2026-06-17
   days on market $146,000 Active 231 DOM
4. 2026-06-16
   days on market $146,000 Active 230 DOM
5. 2026-06-15
   days on market $146,000 Active 229 DOM
6. 2026-06-14
   days on market $146,000 Active 227 DOM
7. 2026-06-13
   days on market $146,000 Active 226 DOM
8. 2026-06-10
   days on market $146,000 Active 224 DOM
9. 2026-06-09
   days on market $146,000 Active 223 DOM
10. 2026-06-08
    days on market $146,000 Active 222 DOM
11. 2026-06-07
    days on market $146,000 Active 221 DOM
12. 2026-06-05
    days on market $146,000 Active 218 DOM
13. 2026-06-03
    days on market $146,000 Active 217 DOM
14. 2026-06-02
    days on market $146,000 Active 216 DOM
15. 2026-06-01
    days on market $146,000 Active 215 DOM
16. 2026-05-31
    days on market $146,000 Active 214 DOM
17. 2026-05-30
    days on market $146,000 Active 213 DOM
18. 2026-01-27
    price $146,000
19. 2025-11-14
    price $148,000
20. 2025-10-29
    listed $155,000 Active
21. 2024-01-26
    historical
22. 2023-03-31
    status Pending
23. 2023-03-24
    price $145,000
24. 2023-03-17
    listed $165,000 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: $1,083 · $90/mo
• Projected year-2 tax: $1,083 · $90/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,085
• − Mortgage interest: −$8,178
• − Property taxes: −$1,083
• − Insurance: −$730
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$4,247
• Taxable loss: −$1,567
• Est. tax savings @ 24.0%: +$376
• After-tax cash flow: $1,293/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 03
• NCES district ID: 4503540
• Math proficiency: 39% ▼ -5.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $36,898
• Composite: 36.52/100
• National rank: #4645
• State rank: #28 of 80 in SC

Livability — Clifton

• Score: 47/100
• State rank: #377
• US rank: #26274

Category grades

Amenities F Commute F Cost of living A Crime A Employment D Housing F Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• City population: 70
• 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

-11.5% since first listed

7 events — show timeline

• 2026-01-27 Price Changed $146,000 SPMLS
• 2025-11-14 Price Changed $148,000 SPMLS
• 2025-10-29 Listed $155,000 SPMLS
• 2024-01-26 Delisted — SPMLS
• 2023-03-31 Pending — SPMLS
• 2023-03-24 Price Changed $145,000 SPMLS
• 2023-03-17 Listed $165,000 SPMLS

Property tax history

+0.5%/yr

Latest (2025): $1,083 · +0.9% YoY. Source: county tax records.