624 N Center St · Spartanburg, SC 29301

$70,000

2 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 97 Days on market

Built 1920 0.25 ac lot ↓ 7% 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
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment property with a lot of potential in an upcoming neighborhood, located near good schools and surrounded by homes that are selling for roughly double the price. A notice posted on the front door by the city states that the property is currently unsafe to occupy, so repairs will be required before moving in. The current owner acquired the property with that notice already posted and has no additional information about it. The HVAC system is located in the attic, and the previous owner stated that it was working fine, although there is currently no electricity connected to test it. The wood materials inside the house will convey with the sale.

Key facts

• Investment property
• Wood materials
• Good schools

Tags

• INVESTMENT PROPERTY
• UPCOMING NEIGHBORHOOD
• GOOD SCHOOLS
• HVAC SYSTEM
• WOOD MATERIALS

Property features AI

Finance

• Other: Zoning: 6RGR
• HOA & community: No HOA

Exterior

• Parking: Driveway (no main level garage)
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built construction; One story; Residential property
• Construction: Wood construction
• Exterior features: Cleared, level lot; Roads are dirt and paved; Publicly maintained road

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One-level home; Crawl space foundation; Room count: 1
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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: 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.
• Zoned schools: Spartanburg High (math 67% / reading 79%, grade B+, #44 of 196 statewide, top 23%, 2,056 students, 85% FRL) — zoned schools average 85% FRL vs 62% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 73% at this address vs 38% district-wide (+36 pts) — the actual schools serving this property are materially stronger than the Spartanburg 07 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-2.6%/yr); 466 active listings in the ZIP; 25 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
6. 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?
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: 1.88% ✓
• Cap rate: 15.74%
• Cash-on-cash: 33.74%
• DSCR: 2.50
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $178,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
779 Saxon Ave	0.30mi	2/1.0	1,111 (+6%)	3mo	$115,000	$104	73
656 S Center St	0.22mi	3/1.0 (+1)	975 (-7%)	0mo	$60,000	$62	73
631 S Center St	0.18mi	3/2.0 (+1)	1,174 (+12%)	1mo	$199,000	$170	62
211 Edenbridge Ln	0.68mi	3/1.0 (+1)	1,050 (+0%)	2mo	$189,000	$180	62
103 Anderson St	0.52mi	3/2.0 (+1)	1,000 (-5%)	5mo	$208,000	$208	55
458 Tryon St	0.23mi	3/2.0 (+1)	1,179 (+12%)	6mo	$199,500	$169	54
300 Farley St	0.45mi	3/2.0 (+1)	1,153 (+10%)	3mo	$203,000	$176	51
106 Allen Ave	0.72mi	2/1.5	967 (-8%)	2mo	$178,900	$185	50
467 Breeze St	0.38mi	3/2.0 (+1)	1,200 (+14%)	2mo	$190,000	$158	48
308 Hillandale Rd	0.52mi	3/1.5 (+1)	1,170 (+12%)	5mo	$140,000	$120	45
310 Hillandale Rd	0.51mi	3/2.0 (+1)	1,161 (+11%)	6mo	$120,000	$103	44
439 Zephyr St	0.45mi	3/2.0 (+1)	1,191 (+14%)	6mo	$215,000	$181	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 2.02×
• Total profit: $19,923
• Equity at exit: $10,437

10-year hold

• IRR: 31.4%
• Equity multiple: 3.44×
• Total profit: $47,735
• Equity at exit: $6,052

Cash invested: $19,600 (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 29301

• Home prices YoY: -25.3%
• Rents YoY: -2.6%
• Active inventory: 466
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$367
• Tax from tax record: −$92 /mo · $1,104/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $551

Break-even live

Break-even rent $618

Max offer price $70,000

Occupancy floor 53%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
694 Saxon Ave Spartanburg, SC	3.0	1.0	1014	$1,300	$1.28	20d	1	0.25mi
488 Brawley St Unit B Spartanburg, SC	3.0	2.5	1200	$1,300	$1.08	13d	1	0.52mi
753A Leonard St Spartanburg, SC	2.0	1.0	1130	$1,185	$1.05	13d	1	0.54mi
327 College St Unit A Spartanburg, SC	1.0	1.0	930	$950	$1.02	20d	1	0.55mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,292	$1.29	13d	1	0.65mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	20d	1	0.71mi
321 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	20d	1	0.79mi
317 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	20d	1	0.80mi
275 Vanderbilt Spartanburg, SC	3.0	2.5	1300	$1,495	$1.15	13d	1	0.83mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	20d	1	0.84mi
267 Vanderbilt Rd Spartanburg, SC	3.0	2.5	1300	$1,795	$1.38	20d	1	0.84mi
100 Vanderbilt Ln Spartanburg, SC	1.0–2.0	1.0–2.0	787	$1,195	$1.52	20d	1	0.88mi
235 Vanderbilt Rd Spartanburg, SC	3.0	2.5	1300	$1,844	$1.42	20d	1	0.90mi
32 Beverly Hills Spartanburg, SC	3.0	2.5	1368	$1,425	$1.04	13d	1	0.98mi
30 Beverly Hills Dr Spartanburg, SC	3.0	2.5	1368	$1,575	$1.15	20d	1	1.00mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	20d	1	1.13mi
142 Magnolia St Unit 104 Spartanburg, SC	1.0	1.0	892	$1,600	$1.79	20d	1	1.13mi
149 S Daniel Morgan Ave Unit 2B Spartanburg, SC	1.0	1.0	750	$1,195	$1.59	20d	1	1.20mi
149 S Daniel Morgan Ave Unit 2A Spartanburg, SC	1.0	1.0	800	$1,150	$1.44	20d	1	1.20mi
408 Abner Rd Spartanburg, SC	2.0–3.0	2.0	996	$1,290	$1.29	20d	6	1.23mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$1,982	$1.72	13d	32	1.29mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	13d	8	1.38mi
334 W Hampton Ave Unit 1 Spartanburg, SC	2.0	1.0	895	$1,100	$1.23	20d	1	1.39mi
111 Timothy St Spartanburg, SC	2.0	1.0	1100	$1,600	$1.45	20d	1	1.43mi
196 Silver Hill St Spartanburg, SC	3.0	3.0	1492	$1,900	$1.27	20d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $70,000 Active 97 DOM
2. 2026-06-17
   days on market $70,000 Active 96 DOM
3. 2026-06-16
   days on market $70,000 Active 95 DOM
4. 2026-06-15
   days on market $70,000 Active 94 DOM
5. 2026-06-14
   days on market $70,000 Active 92 DOM
6. 2026-06-13
   days on market $70,000 Active 91 DOM
7. 2026-06-10
   days on market $70,000 Active 89 DOM
8. 2026-06-09
   days on market $70,000 Active 88 DOM
9. 2026-06-08
   days on market $70,000 Active 87 DOM
10. 2026-06-07
    days on market $70,000 Active 86 DOM
11. 2026-06-02
    days on market $70,000 Active 81 DOM
12. 2026-06-01
    days on market $70,000 Active 80 DOM
13. 2026-05-31
    days on market $70,000 Active 79 DOM
14. 2026-05-30
    days on market $70,000 Active 78 DOM
15. 2026-03-26
    price $70,000
16. 2026-03-13
    listed $75,000 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: $1,104 · $92/mo
• Projected year-2 tax: $1,104 · $92/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $15,787
• − Mortgage interest: −$3,921
• − Property taxes: −$1,104
• − Insurance: −$350
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$2,036
• Taxable income: $5,850
• Est. tax owed @ 24.0%: −$1,404
• After-tax cash flow: $5,209/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

• Census place: Spartanburg, SC
• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 36,278
• Household income: $57,805
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1331.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 13% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 83% English-only · Spanish 10% Other Indo-European 3% Other Asian/Pacific 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: ▼ -77.19%
• Current HPI: 228.4172
• Rent YoY: ▼ -2.64%
• 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

-6.7% since first listed

2 events — show timeline

• 2026-03-26 Price Changed $70,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-13 Listed $75,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+17.6%/yr

Latest (2025): $1,104 · +1.1% YoY. Source: county tax records.