547 S Center St · Spartanburg, SC 29301

$39,900

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 11 Days on market

Built 1920 6,098 sqft lot

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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

PLEASE SUBMIT BEST AND HIGHEST OFFER BY MONDAY, JUNE 15!!!! Investor special with strong potential in Spartanburg! This property is being sold strictly as-is, where-is, and offers an excellent opportunity for investors, renovators, or buyers looking for a value-add project. Conveniently located near downtown Spartanburg, local shopping, dining, schools, and major roadways. The home and property will require repairs, cleanup, and improvements, allowing the next owner to customize it according to their vision. Seller will not make repairs or provide concessions. Buyers and agents should perform all inspections and due diligence prior to submitting an offer. Bring your ideas and take advantag

Key facts

• 6,098 sq ft lot
• Built 1920
• Listed 11 days

Property features AI

Finance

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

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One level (single story); Site-built construction
• Construction: Vinyl and wood exterior materials; Asbestos shingle roof; Crawl space foundation; Built on-site (site built)
• Exterior features: Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Wall furnace heating; Window unit(s) for cooling
• Interior features: Two total rooms; No built-in appliances listed
• Laundry & utility: No laundry facilities listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $802 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 30.4% 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; 17 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $6k; list at $40k implies a 565% gain — meaningful room to come down on a strong offer.

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 $39,900

Questions for the listing agent

1. Built in 1920 — 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 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?
4. 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?
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: 3.46% ✓
• Cap rate: 30.42%
• Cash-on-cash: 86.16%
• DSCR: 4.83
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $174,525
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
656 S Center St	0.31mi	3/1.0	975 (0%)	0mo	$60,000	$62	85
105 Westmoreland St	0.65mi	3/1.0	988 (+1%)	2mo	$177,000	$179	66
318 Austin St	0.22mi	2/2.0 (-1)	1,026 (+5%)	12mo	$145,000	$141	62
103 Anderson St	0.63mi	3/2.0	1,000 (+3%)	5mo	$208,000	$208	58
438 Arch St	0.11mi	3/2.0	1,100 (+13%)	15mo	$200,000	$182	57
211 Edenbridge Ln	0.62mi	3/1.0	1,050 (+8%)	2mo	$189,000	$180	57
437 Arch St	0.13mi	3/2.0	1,100 (+13%)	14mo	$211,000	$192	57
776 Wofford St	0.35mi	3/1.0	850 (-13%)	7mo	$95,000	$112	56
760 Wofford St	0.31mi	3/1.0	840 (-14%)	12mo	$154,500	$184	52
3 Jordan St	0.74mi	3/1.0	955 (-2%)	13mo	$100,000	$105	51
784 Wofford St	0.37mi	3/1.0	840 (-14%)	13mo	$98,500	$117	49
779 Saxon Ave	0.52mi	2/1.0 (-1)	1,111 (+14%)	3mo	$115,000	$104	45

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: 83.2%
• Equity multiple: 4.63×
• Total profit: $40,602
• Equity at exit: $5,949

10-year hold

• IRR: 85.8%
• Equity multiple: 8.66×
• Total profit: $85,604
• Equity at exit: $3,450

Cash invested: $11,172 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,383 high
• Mortgage (P&I): −$209
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $802

Break-even live

Break-even rent $367

Max offer price $39,900

Occupancy floor 37%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
694 Saxon Ave Spartanburg, SC	3.0	1.0	1014	$1,300	$1.28	21d	1	0.51mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,650	$1.65	13d	1	0.55mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	21d	1	0.70mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	21d	1	0.74mi
321 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	21d	1	0.88mi
100 Vanderbilt Ln Spartanburg, SC	1.0–2.0	1.0–2.0	787	$1,195	$1.52	21d	1	0.88mi
317 Southstar St Spartanburg, SC	2.0	1.0	895	$849	$0.95	21d	1	0.88mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	21d	1	0.92mi
334 W Hampton Ave Unit 1 Spartanburg, SC	2.0	1.0	895	$1,100	$1.23	21d	1	1.12mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$2,330	$2.02	13d	32	1.13mi
111 Timothy St Spartanburg, SC	2.0	1.0	1100	$1,600	$1.45	21d	1	1.16mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	13d	8	1.18mi
408 Abner Rd Spartanburg, SC	2.0–3.0	2.0	996	$1,515	$1.52	21d	6	1.30mi
118 Morningside Dr Spartanburg, SC	2.0	1.0	800	$850	$1.06	21d	1	1.39mi
116 Morningside Dr Spartanburg, SC	2.0	1.0	800	$850	$1.06	21d	1	1.40mi
300 Amherst Dr Spartanburg, SC	2.0	1.0	763	$975	$1.28	13d	1	1.49mi
327 E Kennedy St Spartanburg, SC	1.0–2.0	1.0–2.0	806	$1,654	$2.05	13d	7	1.50mi

Listing history 10 events

1. 2026-06-16
   status $39,900 Pending 11 DOM
2. 2026-06-16
   days on market $39,900 Active 11 DOM
3. 2026-06-15
   days on market $39,900 Active 10 DOM
4. 2026-06-14
   days on market $39,900 Active 8 DOM
5. 2026-06-13
   days on market $39,900 Active 7 DOM
6. 2026-06-10
   days on market $39,900 Active 5 DOM
7. 2026-06-09
   days on market $39,900 Active 4 DOM
8. 2026-06-08
   days on market $39,900 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $39,900 Active 2 DOM

ⓘ 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: $770 · $64/mo
• Projected year-2 tax: $770 · $64/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 5/10 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: $16,590
• − Mortgage interest: −$2,235
• − Property taxes: −$770
• − Insurance: −$200
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$1,161
• Taxable income: $9,571
• Est. tax owed @ 24.0%: −$2,297
• After-tax cash flow: $7,329/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

+565.0% since first listed

2 events — show timeline

• 2026-06-05 Listed $39,900 CANOPYMLS as Distributed by MLS Grid
• 1995-11-01 Sold (Public Records) $6,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $770 · +1.5% YoY. Source: county tax records.