408 Speyside Ln #76 · Anderson, SC 29621

$184,900

3 bd · 2.5 ba · 1,305 sqft · Townhouse · 46 Days on market

Built 2026 Excellent condition $142/sqft · at area comps Est $187k · at est.

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Why this score? — see what drove the C- 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 +16.4/30.0
• ARV discount +8.1/15.0
• DSCR +5.1/10.0
• Condition / age +5.0/5.0
• Schools +4.8/10.0
• 1% rule +4.5/10.0
• Rent growth +4.1/5.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-In Ready! The Aspen offers a beautifully designed living space that maximizes space while keeping everyday living comfortable. From the front entry, the foyer opens into an open kitchen, dining area, and great room, creating a main living space that feels open but connected. The kitchen includes an island and pantry storage, with clear sightlines into the dining and living areas. A rear patio extends the living space outdoors, while a conveniently placed powder room and storage closet completes the main level. This floor plan features 1,305 square feet, 3 bedrooms, and 2.5 bathrooms, with all bedrooms located on the second floor for added separation from the main living areas.

Key facts

• Dining area
• Storage closet
• Powder room

Tags

• OPEN KITCHEN
• DINING AREA
• GREAT ROOM
• REAR PATIO
• POWDER ROOM
• STORAGE CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $185k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $104 ($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 $175k (5.4% below list).
• Recommended offer: $175k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.2% in Anderson — 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 67/100 on livability (#98 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime F, commute F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nevitt Forest Elementary (math 26% / reading 23%, grade F, #452 of 597 statewide, top 78%, 577 students, 100% FRL); Glenview Middle (math 38% / reading 45%, grade F, #68 of 229 statewide, top 31%, 733 students, 69% FRL); T. L. Hanna High (math 63% / reading 91%, grade A-, #28 of 196 statewide, top 16%, 1,910 students, 53% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.5%/yr); 973 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 88d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

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.
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Recommended offer $174,926 (5.4% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
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: 0.95% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $187,290
• List price: $184,900
• Delta: -1.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Speyside Ln	0.00mi	3/2.5	1,305 (0%)	2mo	$184,900	$142	98
105 Lowland Dr	0.04mi	3/2.5	1,305 (0%)	2mo	$187,990	$144	97
402 Speyside Ln	0.01mi	3/2.5	1,305 (0%)	4mo	$187,990	$144	96
400 Speyside Ln	0.01mi	3/2.5	1,305 (0%)	4mo	$189,000	$145	96
412 Speyside Ln	0.01mi	3/2.5	1,305 (0%)	4mo	$196,017	$150	96
407 Speyside Ln	0.02mi	3/2.5	1,305 (0%)	4mo	$185,490	$142	96
405 Speyside Ln	0.02mi	3/2.5	1,305 (0%)	4mo	$185,490	$142	96
305 Speyside Ln	0.04mi	3/2.5	1,483 (+14%)	1mo	$209,540	$141	75
309 Speyside Ln	0.04mi	3/2.5	1,483 (+14%)	2mo	$207,990	$140	73
313 Speyside Ln	0.04mi	4/3.0 (+1)	1,483 (+14%)	2mo	$209,990	$142	67
303 Speyside Ln	0.04mi	4/3.0 (+1)	1,487 (+14%)	2mo	$216,490	$146	66
307 Speyside Ln	0.05mi	4/3.0 (+1)	1,487 (+14%)	3mo	$192,000	$129	65

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 · 6.55% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.67×
• Total profit: $-16,834
• Equity at exit: $27,569

10-year hold

• IRR: 5.1%
• Equity multiple: 1.44×
• Total profit: $22,553
• Equity at exit: $15,987

Cash invested: $51,772 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 20 active · 15 under contract
• Months of supply: 6.7 mo (15%/mo absorbed)
• Median asking: $188,990 ($134/sqft)
• Median days on market: 36 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +7.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29621

• Rents YoY: 6.5%
• Active inventory: 973
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,749 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $104

Break-even live

Break-even rent $1,617

Max offer price $184,900

Occupancy floor 89%

Sensitivity live

Price	-10% $232	-5% $168	+0% $104	+5% $40	+10% $-24
Rent	-10% $-34	-5% $35	+0% $104	+5% $173	+10% $242
Rate	-1.0pp $197	-0.5pp $151	base $104	+0.5pp $56	+1.0pp $7

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: $46,225
• Closing costs: $5,547
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Islay Way Anderson, SC	3.0	2.5	1305	$1,750	$1.34	0d	1	0.06mi
226 Islay WAY Anderson, SC	3.0	2.5	1411	$1,695	$1.20	98d	1	0.09mi
209 Polaris St Anderson, SC	3.0	2.0	1500	$1,500	$1.00	106d	1	0.31mi
305 Cedar Rdg Anderson, SC	3.0	2.5	1603	$1,786	$1.11	62d	1	1.11mi
104 Wishire Dr Anderson, SC	3.0	2.0	1250	$1,355	$1.08	0d	1	1.31mi
207 Sears St Anderson, SC	4.0	2.0	1500	$1,850	$1.23	87d	1	1.34mi
902 Pickens St Anderson, SC	2.0	1.0	1185	$1,195	$1.01	119d	1	1.44mi
506 Plain St Anderson, SC	2.0	1.0	927	$1,100	$1.19	7d	1	1.49mi

Listing history 8 events

1. 2026-06-09
   days on market $184,900 Active 46 DOM
2. 2026-06-08
   days on market $184,900 Active 45 DOM
3. 2026-06-07
   days on market $184,900 Active 44 DOM
4. 2026-06-05
   days on market $184,900 Active 41 DOM
5. 2026-06-03
   days on market $184,900 Active 40 DOM
6. 2026-06-03
   days on market $184,900 Active 39 DOM
7. 2026-06-01
   days on market $184,900 Active 38 DOM
8. 2026-05-31
   days on market $184,900 Active 37 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,991
• − Mortgage interest: −$10,357
• − Property taxes: −$2,774
• − Insurance: −$924
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$5,379
• Taxable loss: −$1,802
• Est. tax savings @ 24.0%: +$432
• After-tax cash flow: $1,682/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.

Condition & rehab AI · 12 photos

Excellent 100/100 None rehab

This move-in ready townhouse is in excellent condition with modern finishes and a well-maintained exterior. It offers a great opportunity for investors looking to maximize value through minor updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the property. ↑

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Nevitt Forest Elementary F SC #452/597 Nat'l #30,133/41,679 Middle Glenview Middle F SC #68/229 Nat'l #5,602/14,009 High T. L. Hanna High A- SC #28/196 Nat'l #1,362/17,239

Schools (NCES district)

• District: Anderson 05
• NCES district ID: 4500900
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $39,718
• Composite: 38.89/100
• National rank: #4098
• State rank: #20 of 80 in SC

C Composite livability gradescore 67/100

Livability — Anderson

• Score: 67/100
• State rank: #98
• US rank: #10772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anderson, SC
• County: Anderson County · 210,546 people
• City population: 87,992
• Metro: Greenville-Anderson, SC
• Population (ZIP): 46,482
• Household income: $74,256
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 3% of renters

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Population outlook (Anderson County) Hauer SSP2

• Today (2025): 210,546 people
• By 2030: 217,791 · +3.4%
• By 2040: 230,643 · +9.5%
• By 2050: 240,220 · +14.1%
• By 2075: 259,518 · +23.3%
• By 2100: 258,696 · +22.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Serbian 3% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 1%

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Political lean MEDSL · Anderson

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -14.1pp toward R · 2008: -33.3pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+42.0 2016: R+43.7 2012: R+36.4 2008: R+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -173.39%
• Current HPI: 233.3422
• Rent YoY: ▲ 6.55%
• Metro: Greenville-Anderson, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B