1080 Grace Ave · Irwin, SC 29720

$209,900

3 bd · 1.0 ba · 1,274 sqft · SingleFamily public records · 79 Days on market

Built 1948 0.50 ac lot Est $217k · at est.

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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).

• Cash flow +15.8/30.0
• ARV discount +8.9/15.0
• DSCR +4.9/10.0
• Schools +3.7/10.0
• 1% rule +3.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into effortless one-level living in this beautifully updated ranch home located on a sprawling, half-acre lot. The heart of the home shines with a sleek kitchen featuring crisp granite countertops and new appliances, perfect for hosting casual gatherings or preparing daily meals. Fresh paint, new flooring, and updated fixtures flow seamlessly throughout the interior, creating a bright and inviting atmosphere. Outside, the expansive lot offers rare freedom and space, complete with a convenient two-car carport and a dedicated storage building for all your tools and toys. Enjoy the quiet of your oversized yard or the polished comfort of the renovated interior.

Key facts

• Half-acre lot
• Updated ranch home
• One-level living

Tags

• ONE-LEVEL LIVING
• UPDATED RANCH HOME
• HALF-ACRE LOT
• SLEEK KITCHEN
• GRANITE COUNTERTOPS
• NEW APPLIANCES

Property features AI

Finance

• Other: Zoned MDR
• HOA & community: No HOA

Exterior

• Parking: Detached carport (2 spaces); Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story; Residential property
• Construction: Site-built construction; Asbestos siding/materials; Crawl space foundation; Shingle roof not specified
• Exterior features: Front porch; Shed(s); Concrete, gravel and paved road access; Property on a publicly maintained road

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Electric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Pull-down attic stairs; Living room fireplace; 6 total rooms
• Laundry & utility: Main-level laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/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 $178k (15.4% below list).
• Recommended offer: $178k (15.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#292 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Lancaster 01 (rural): math 41% / reading 47% proficiency, ranked #26 of 80 in SC (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Erwin Elementary (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 411 students, 100% FRL); Lancaster High (math 17% / reading 70%, grade F, #171 of 196 statewide, top 87%, 1,463 students, 86% FRL) — zoned schools average 93% FRL vs 47% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 44% district-wide (-14 pts) — the specific schools serving this property underperform the Lancaster 01 average; the district grade overstates school quality for this exact location.
• Market conditions: 684 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 976 units permitted in Lancaster County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lancaster County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $210k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,612 (15.4% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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 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: 0.85% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.94%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $216,580
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
951 Confederate Ave	0.19mi	3/2.0	1,250 (-2%)	2mo	$240,000	$192	82
1055 Laurel Ave	0.04mi	3/2.0	1,294 (+2%)	12mo	$245,000	$189	81
1015 Grace Ave	0.16mi	2/2.0 (-1)	1,283 (+1%)	9mo	$212,000	$165	75
1048 Old Thompson Ave	0.23mi	3/1.0	1,161 (-9%)	1mo	$186,000	$160	74
1227 Laurel Ave	0.42mi	3/2.0	1,345 (+6%)	3mo	$190,000	$141	65
1208 Grace Ave	0.30mi	3/1.0	1,344 (+6%)	20mo	$110,000	$82	60
949 Grace Ave	0.32mi	3/1.0	1,115 (-12%)	13mo	$135,000	$121	53
1115 Old Thompson Ave	0.32mi	2/2.0 (-1)	1,118 (-12%)	12mo	$270,000	$242	46
1240 Hampton Grace Ave	0.70mi	2/2.0 (-1)	1,264 (-1%)	18mo	$215,000	$170	42
1192 Hampton Grace Ave	0.59mi	3/2.0	1,438 (+13%)	9mo	$260,000	$181	40
1140 Confederate Ave #11	0.51mi	3/1.5	1,106 (-13%)	17mo	$165,000	$149	38
1459 Erwin St	0.74mi	2/2.0 (-1)	1,144 (-10%)	15mo	$219,900	$192	27

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-28,030
• Equity at exit: $31,297

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-16,872
• Equity at exit: $18,148

Cash invested: $58,772 (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 29720

• Home prices YoY: -28.2%
• Active inventory: 684
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $95

Break-even live

Break-even rent $1,656

Max offer price $209,900

Occupancy floor 90%

Sensitivity live

Price	-10% $214	-5% $154	+0% $95	+5% $35	+10% $-24
Rent	-10% $-45	-5% $25	+0% $95	+5% $165	+10% $235
Rate	-1.0pp $201	-0.5pp $148	base $95	+0.5pp $41	+1.0pp $-15

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1080 Grace Ave Lancaster, SC	3.0	1.0	1292	$1,800	$1.39	0d	1	0.00mi
1208 Grace Ave Lancaster, SC	2.0	1.0	1344	$1,200	$0.89	0d	1	0.30mi

Listing history 5 events

1. 2026-05-08
   status Pending
2. 2026-05-01
   price $209,900
3. 2026-03-12
   price $219,900
4. 2026-02-18
   listed $229,900 Active
5. 2006-10-13
   soldstatus $58,500

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $1,441 · $120/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,313
• − Mortgage interest: −$11,758
• − Property taxes: −$1,441
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$6,106
• Taxable loss: −$2,451
• Est. tax savings @ 24.0%: +$588
• After-tax cash flow: $1,727/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: Lancaster 01
• NCES district ID: 4502580
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $44,165
• Composite: 37.23/100
• National rank: #4462
• State rank: #26 of 80 in SC

Livability — Irwin

• Score: 56/100
• State rank: #292
• US rank: #22667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irwin, SC
• County: Lancaster County · 91,213 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 53,584
• Household income: $62,969
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 1158.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 105,572 people
• By 2030: 114,865 · +8.8%
• By 2040: 132,268 · +25.3%
• By 2050: 148,252 · +40.4%
• By 2075: 182,540 · +72.9%
• By 2100: 202,237 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 26% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Lancaster

• 2024 margin: Strong R (+24.8) · D 37.0% · R 61.8% · Other 1.2%
• 2008→2024 swing: -9.9pp toward R · 2008: -14.9pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+22.8 2016: R+25.5 2012: R+18.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.90%
• Current HPI: 244.328
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-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

+258.8% since first listed

5 events — show timeline

• 2026-05-08 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $209,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $219,900 CANOPYMLS as Distributed by MLS Grid
• 2026-02-18 Listed $229,900 CANOPYMLS as Distributed by MLS Grid
• 2006-10-13 Sold (Public Records) $58,500 Public Records

Property tax history

+12.6%/yr

Latest (2025): $1,441 · +13.5% YoY. Source: county tax records.