206 Monroe St · East Gaffney, SC 29340

$130,000

2 bd · 2.0 ba · 840 sqft · SingleFamily public records · 15 Days on market

Built 1950 9,583 sqft lot

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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 +15.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 2-bedroom, 2-bath residence located in the heart of Gaffney! Situated on a spacious lot, 206 Monroe Street offers the perfect blend of comfort, convenience, and outdoor space. Inside, you’ll find a functional layout with generously sized bedrooms, two full bathrooms, and inviting living spaces designed for everyday living. Step outside and enjoy the large yard — ideal for entertaining, gardening, pets, or simply relaxing outdoors. Whether you are a first-time homebuyer, downsizing, or looking to add to your investment portfolio, this property offers endless potential. Conveniently located near shopping, dining, schools, and local amenities, this hom

Key facts

• Large yard
• Spacious lot
• Functional layout

Tags

• LARGE YARD
• SPACIOUS LOT
• FUNCTIONAL LAYOUT
• INVITING LIVING SPACES
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Garage faces side
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Kitchen: Electric range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central electric air conditioning
• Interior features: Electric water heater; Electric range
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $47 ($563/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 $106k (18.4% below list).
• Recommended offer: $106k (18.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#206 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gaffney Middle (math 25% / reading 37%, grade F, #128 of 229 statewide, top 58%, 921 students, 100% FRL); Gaffney High (math 40% / reading 75%, grade C, #116 of 196 statewide, top 59%, 1,838 students, 84% FRL) — zoned schools average 92% FRL vs 64% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 160 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,117 (18.4% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.82% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $59,640
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Chestnut St	0.40mi	2/1.0	850 (+1%)	1mo	$60,000	$71	75
1512 Beech St	0.18mi	2/1.0	928 (+10%)	11mo	$43,000	$46	61
1510 Beech St	0.17mi	2/1.0	780 (-7%)	19mo	$33,000	$42	61
813 9th St St	0.56mi	2/1.0	806 (-4%)	3mo	$122,090	$151	60
407 Willow St	0.44mi	2/1.0	965 (+15%)	1mo	$37,000	$38	50
438 E Dr LM Rosemond Ln	0.71mi	3/1.0 (+1)	864 (+3%)	11mo	$124,900	$145	44
330 Sycamore St	0.36mi	2/1.0	932 (+11%)	22mo	$155,000	$166	42

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-18,127
• Equity at exit: $19,383

10-year hold

• IRR: -5.1%
• Equity multiple: 0.67×
• Total profit: $-12,139
• Equity at exit: $11,240

Cash invested: $36,400 (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 29340

• Home prices YoY: -29.7%
• Active inventory: 160
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,061 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$56 /mo · $666/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $47

Break-even live

Break-even rent $1,002

Max offer price $130,000

Occupancy floor 91%

Sensitivity live

Price	-10% $121	-5% $84	+0% $47	+5% $10	+10% $-27
Rent	-10% $-37	-5% $5	+0% $47	+5% $89	+10% $131
Rate	-1.0pp $112	-0.5pp $80	base $47	+0.5pp $13	+1.0pp $-21

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 Goldmine Springs Rd Gaffney, SC	2.0	1.0	730	$1,099	$1.51	25d	1	0.55mi
506 S Oliver St Gaffney, SC	1.0–2.0	1.0	900	$955	$1.06	18d	5	1.46mi

Listing history 2 events

1. 2026-05-24
   status Pending
2. 2026-02-19
   listed $130,000 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: $666 · $56/mo
• Projected year-2 tax: $741 · $62/mo
• Expected delta: +$75/yr (+$6/mo · 11.2%)

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,734
• − Mortgage interest: −$7,282
• − Property taxes: −$666
• − Insurance: −$650
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$3,782
• Taxable loss: −$1,683
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $967/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: Cherokee 01
• NCES district ID: 4501500
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $34,262
• Composite: 28.39/100
• National rank: #6768
• State rank: #47 of 80 in SC

Livability — East Gaffney

• Score: 61/100
• State rank: #206
• US rank: #17691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Gaffney, SC
• County: Cherokee County · 41,410 people
• Metro: Gaffney, SC
• Population (ZIP): 20,763
• Household income: $44,123
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 257.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 58,602 people
• By 2030: 59,336 · +1.3%
• By 2040: 60,266 · +2.8%
• By 2050: 60,314 · +2.9%
• By 2075: 59,276 · +1.2%
• By 2100: 53,788 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -29.3pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+43.8 2016: R+41.7 2012: R+29.3 2008: R+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.24%
• Current HPI: 201.4272
• Rent YoY: —
• Metro: Gaffney, 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

2 events — show timeline

• 2026-05-24 Pending — SPMLS
• 2026-02-19 Listed $130,000 SPMLS

Property tax history

-0.3%/yr

Latest (2025): $666 · +5.4% YoY. Source: county tax records.