184 Rainbow Falls Rd · Graniteville, SC 29829

$54,400

2 bd · 1.0 ba · 1,392 sqft · SingleFamily public records

Built 1994 0.37 ac lot ↓ 15% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Secluded corner lot. Property features 2 bedrooms with a large bonus room that could be used as a 3rd bedroom. 2 full bathrooms with one having handicap access. Total electric.

Key facts

• 0.37 acre lot
• Built 1994

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $54k).
• Cap rate 32.7% vs local median 5.9% in Graniteville — 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 59/100 on livability (#240 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Byrd Elementary (math 28% / reading 36%, grade F, #369 of 597 statewide, top 64%, 657 students, 37% FRL); Leavelle Mccampbell Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 650 students, 55% FRL); Midland Valley High (math 31% / reading 83%, grade C, #120 of 196 statewide, top 64%, 1,477 students, 62% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 299 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($376 loan paydown + $5k appreciation (8.4% local appreciation)).
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,400

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.70% ✓
• Cap rate: 32.70%
• Cash-on-cash: 94.32%
• DSCR: 5.20
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $235,248
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
675 Ascauga Lake Rd	0.56mi	3/2.0 (+1)	1,424 (+2%)	3mo	$240,000	$169	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.57×
• Total profit: $100,032
• Equity at exit: $42,744

10-year hold

• IRR: 98.4%
• Equity multiple: 16.35×
• Total profit: $233,744
• Equity at exit: $86,232

Cash invested: $15,232 (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 29829

• Home prices YoY: 3.0%
• Active inventory: 299
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,011 medium
• Mortgage (P&I): −$285
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,197

Break-even live

Break-even rent $495

Max offer price $54,400

Occupancy floor 35%

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: $13,600
• Closing costs: $1,632
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
934 Quaint Parish Cir Graniteville, SC	3.0	2.5	1435	$1,800	$1.25	23d	1	1.27mi
507 Satinwood Cir Graniteville, SC	3.0–4.0	2.0–2.5	1776	$1,989	$1.12	14d	5	1.29mi

Listing history 9 events

1. 2026-05-01
   status Pending
2. 2026-05-01
   historical
3. 2026-05-01
   historical
4. 2026-04-16
   listed $54,400 Active
5. 2026-04-16
   listed $54,400
6. 2024-04-24
   historical
7. 2024-04-24
   historical
8. 2023-11-27
   listed $63,750
9. 2023-11-27
   listed $63,750

ⓘ 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: $1,001 · $83/mo
• Projected year-2 tax: $1,001 · $83/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $24,131
• − Mortgage interest: −$3,047
• − Property taxes: −$1,001
• − Insurance: −$272
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$1,583
• Taxable income: $14,367
• Est. tax owed @ 24.0%: −$3,448
• After-tax cash flow: $10,919/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: Aiken 01
• NCES district ID: 4500720
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $45,081
• Composite: 31.91/100
• National rank: #5857
• State rank: #36 of 80 in SC

Livability — Graniteville

• Score: 59/100
• State rank: #240
• US rank: #19924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Aiken County · 116,534 people
• City population: 12,385
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 12,385
• Household income: $84,228
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 213.0

Population outlook (Aiken County) Hauer SSP2

• Today (2025): 178,003 people
• By 2030: 182,876 · +2.7%
• By 2040: 189,970 · +6.7%
• By 2050: 193,840 · +8.9%
• By 2075: 199,453 · +12.1%
• By 2100: 192,403 · +8.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Hispanic / Latino 12% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 2% Swedish 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Aiken

• 2024 margin: Strong R (+25.9) · D 36.4% · R 62.2% · Other 1.4%
• 2008→2024 swing: -1.9pp toward R · 2008: -24.0pp · 2024: -25.9pp
• All cycles: 2024: R+25.9 2020: R+22.7 2016: R+27.5 2012: R+26.0 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.38%
• Current HPI: 286.4155
• Rent YoY: —
• Metro: Augusta-Richmond County, GA-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

-14.7% since first listed

9 events — show timeline

• 2026-05-01 Pending — Hive MLS
• 2026-05-01 Listing Removed — Hive MLS
• 2026-05-01 Listing Removed — Hive MLS
• 2026-04-16 Listed $54,400 Hive MLS
• 2026-04-16 Listed $54,400 Hive MLS
• 2024-04-24 Listing Removed — Hive MLS
• 2024-04-24 Listing Removed — Hive MLS
• 2023-11-27 Listed $63,750 Hive MLS
• 2023-11-27 Listed $63,750 Hive MLS

Property tax history

+19.8%/yr

Latest (2025): $1,001 · +7.9% YoY. Source: county tax records.