1504 E Saluda Lake Rd · Berea, SC 29611

$215,900

3 bd · 2.0 ba · 1,568 sqft · Land public records · 51 Days on market

Built 1993 0.66 ac 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 +11.4/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Imagine the privacy! After a long day at work, just minutes away, travel down your long gravel drive toward a private home with woods lining theedge of your backyard. It's like living out in the countryside, but right in town. This 3 bedroom, 2 bath home with open floor plan and office hasroom for everyone to spread out! Step onto the covered front porch, and imagine yourself sipping your sweet tea and listening to nature. Insidethe front door, upgraded wood flooring, cathedral ceilings, and a fireplace centerpiece will inspire your decorative plans. Beside the fireplace, glass doors access a deck that overlooks the green backyard. And this kitchen - it's got the beginnings already with decorative open cabinetry -it's just waiting for your next Pinterest inspired project! Beyond the kitchen, there's an office with a closet leading to the laundry and side door. Itcould be used as a fourth bedroom, if you need it. Back in the main house, the split floor plan creates privacy for the primary suite, whichfeatures a garden tub, step in shower, and walk-in closet. New barn doors separate the bath from the bedroom, and a focal bedroom wall setsoff a bed and tables with no headboard needed. At the far end of the home, two more bedrooms share a second full bath with tub showercombo. Does this sound like the perfect place to call home? Call us and let's go take a look!

Key facts

• Covered front porch
• Cathedral ceilings
• Long gravel drive

Tags

• LONG GRAVEL DRIVE
• WOODS LINING BACKYARD
• COVERED FRONT PORCH
• UPGRADED WOOD FLOORING
• CATHEDRAL CEILINGS
• FIREPLACE CENTERPIECE

Property features AI

Finance

• Other: Approximately 1,570 finished heated square feet; Lot approximately 1/2 acre
• HOA & community: No HOA fees

Exterior

• Parking: Gravel shared driveway; No garage
• Utilities: Public water; Public sewer; Private garbage pickup
• Home design: Single-story residential property; Approximately 21–30 years old; Crawl space foundation
• Construction: Vinyl siding exterior; Composition shingle roof
• Exterior features: Front porch; Deck; Some storm doors; Level lot with some trees

Interior

• Kitchen: Kitchen approx. 14 x 12; Dishwasher; Stand-alone smooth-top range; Built-in microwave
• Bedrooms: Four bedrooms on the main level; Primary bedroom on main level with full bath, separate shower, garden tub and walk-in closet; Primary bedroom approx. 14 x 13; Second bedroom approx. 13 x 13; Third bedroom approx. 12 x 10; Fourth bedroom approx. 12 x 10
• Flooring: Hardwood floors; Vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric forced-air heating; Central forced cooling; Electric water heater
• Interior features: Ceiling fans; Cathedral/vaulted ceilings; Open floor plan; Split floor plan; One ventless fireplace; Office/Study
• Laundry & utility: Walk-in laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $216k.

Deal economics

• At list price, monthly cash flow is $-73 ($-880/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (13.3% below list).
• Recommended offer: $187k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.9% in Berea — 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 72/100 on livability (#44 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: crime F, amenities F, employment F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Armstrong Elementary (math 37% / reading 32%, grade F, #344 of 597 statewide, top 60%, 380 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 49% district-wide (-14 pts) — the specific schools serving this property underperform the Greenville 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 278 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• This rent runs 44% of the median local income ($52k/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.
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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 $187,137 (13.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.87% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.31×
• Total profit: $-41,970
• Equity at exit: $32,191

10-year hold

• IRR: -16.3%
• Equity multiple: 0.14×
• Total profit: $-51,814
• Equity at exit: $18,667

Cash invested: $60,452 (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 29611

• Home prices YoY: -34.6%
• Rents YoY: 1.7%
• Active inventory: 278
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,871 medium
• Mortgage (P&I): −$1,132
• Tax from tax record: −$330 /mo · $3,955/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-73

Break-even live

Break-even rent $1,964

Max offer price $202,946

Occupancy floor 99%

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: $53,975
• Closing costs: $6,477
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6526 White Horse Rd Greenville, SC	1.0–3.0	1.0–1.5	1075	$1,295	$1.20	21d	5	1.01mi
400 Berea Dr Greenville, SC	3.0	1.5	1385	$1,595	$1.15	23d	1	1.27mi
222 Marston Ln Greenville, SC	3.0	2.5	1620	$2,300	$1.42	23d	1	1.42mi
511 Harebell Way Greenville, SC	3.0	2.5	1616	$1,775	$1.10	23d	1	1.47mi

Listing history 34 events

1. 2026-06-18
   days on market $215,900 Active 51 DOM
2. 2026-06-17
   days on market $215,900 Active 50 DOM
3. 2026-06-16
   days on market $215,900 Active 49 DOM
4. 2026-06-15
   statusdays on market $215,900 Active 48 DOM
5. 2026-06-13
   days on market $215,900 Contingency Contract 46 DOM
6. 2026-06-13
   days on market $215,900 Contingency Contract 45 DOM
7. 2026-06-10
   days on market $215,900 Contingency Contract 43 DOM
8. 2026-06-09
   days on market $215,900 Contingency Contract 42 DOM
9. 2026-06-08
   days on market $215,900 Contingency Contract 41 DOM
10. 2026-06-07
    days on market $215,900 Contingency Contract 40 DOM
11. 2026-06-03
    days on market $215,900 Contingency Contract 36 DOM
12. 2026-06-03
    days on market $215,900 Contingency Contract 35 DOM
13. 2026-06-01
    days on market $215,900 Contingency Contract 34 DOM
14. 2026-05-31
    statusdays on market $215,900 Contingency Contract 33 DOM
15. 2026-05-23
    price $217,900
16. 2026-05-22
    price $218,900

    Show marketing remark (1380 chars)

    Imagine the privacy! After a long day at work, just minutes away, travel down your long gravel drive toward a private home with woods lining theedge of your backyard. It's like living out in the countryside, but right in town. This 3 bedroom, 2 bath home with open floor plan and office hasroom for everyone to spread out! Step onto the covered front porch, and imagine yourself sipping your sweet tea and listening to nature. Insidethe front door, upgraded wood flooring, cathedral ceilings, and a fireplace centerpiece will inspire your decorative plans. Beside the fireplace, glass doors access a deck that overlooks the green backyard. And this kitchen - it's got the beginnings already with decorative open cabinetry -it's just waiting for your next Pinterest inspired project! Beyond the kitchen, there's an office with a closet leading to the laundry and side door. Itcould be used as a fourth bedroom, if you need it. Back in the main house, the split floor plan creates privacy for the primary suite, whichfeatures a garden tub, step in shower, and walk-in closet. New barn doors separate the bath from the bedroom, and a focal bedroom wall setsoff a bed and tables with no headboard needed. At the far end of the home, two more bedrooms share a second full bath with tub showercombo. Does this sound like the perfect place to call home? Call us and let's go take a look!

17. 2026-05-22
    price $218,900 1380-char remark

    Show marketing remark (1380 chars)

    Imagine the privacy! After a long day at work, just minutes away, travel down your long gravel drive toward a private home with woods lining theedge of your backyard. It's like living out in the countryside, but right in town. This 3 bedroom, 2 bath home with open floor plan and office hasroom for everyone to spread out! Step onto the covered front porch, and imagine yourself sipping your sweet tea and listening to nature. Insidethe front door, upgraded wood flooring, cathedral ceilings, and a fireplace centerpiece will inspire your decorative plans. Beside the fireplace, glass doors access a deck that overlooks the green backyard. And this kitchen - it's got the beginnings already with decorative open cabinetry -it's just waiting for your next Pinterest inspired project! Beyond the kitchen, there's an office with a closet leading to the laundry and side door. Itcould be used as a fourth bedroom, if you need it. Back in the main house, the split floor plan creates privacy for the primary suite, whichfeatures a garden tub, step in shower, and walk-in closet. New barn doors separate the bath from the bedroom, and a focal bedroom wall setsoff a bed and tables with no headboard needed. At the far end of the home, two more bedrooms share a second full bath with tub showercombo. Does this sound like the perfect place to call home? Call us and let's go take a look!

18. 2026-04-27
    listed $219,900 Active

    Show marketing remark (1380 chars)

    Imagine the privacy! After a long day at work, just minutes away, travel down your long gravel drive toward a private home with woods lining theedge of your backyard. It's like living out in the countryside, but right in town. This 3 bedroom, 2 bath home with open floor plan and office hasroom for everyone to spread out! Step onto the covered front porch, and imagine yourself sipping your sweet tea and listening to nature. Insidethe front door, upgraded wood flooring, cathedral ceilings, and a fireplace centerpiece will inspire your decorative plans. Beside the fireplace, glass doors access a deck that overlooks the green backyard. And this kitchen - it's got the beginnings already with decorative open cabinetry -it's just waiting for your next Pinterest inspired project! Beyond the kitchen, there's an office with a closet leading to the laundry and side door. Itcould be used as a fourth bedroom, if you need it. Back in the main house, the split floor plan creates privacy for the primary suite, whichfeatures a garden tub, step in shower, and walk-in closet. New barn doors separate the bath from the bedroom, and a focal bedroom wall setsoff a bed and tables with no headboard needed. At the far end of the home, two more bedrooms share a second full bath with tub showercombo. Does this sound like the perfect place to call home? Call us and let's go take a look!

19. 2026-04-27
    listed $219,900 Active 1380-char remark

    Show marketing remark (1380 chars)

    Imagine the privacy! After a long day at work, just minutes away, travel down your long gravel drive toward a private home with woods lining theedge of your backyard. It's like living out in the countryside, but right in town. This 3 bedroom, 2 bath home with open floor plan and office hasroom for everyone to spread out! Step onto the covered front porch, and imagine yourself sipping your sweet tea and listening to nature. Insidethe front door, upgraded wood flooring, cathedral ceilings, and a fireplace centerpiece will inspire your decorative plans. Beside the fireplace, glass doors access a deck that overlooks the green backyard. And this kitchen - it's got the beginnings already with decorative open cabinetry -it's just waiting for your next Pinterest inspired project! Beyond the kitchen, there's an office with a closet leading to the laundry and side door. Itcould be used as a fourth bedroom, if you need it. Back in the main house, the split floor plan creates privacy for the primary suite, whichfeatures a garden tub, step in shower, and walk-in closet. New barn doors separate the bath from the bedroom, and a focal bedroom wall setsoff a bed and tables with no headboard needed. At the far end of the home, two more bedrooms share a second full bath with tub showercombo. Does this sound like the perfect place to call home? Call us and let's go take a look!

20. 2024-11-27
    soldstatus $194,000
21. 2024-11-25
    soldstatus $194,000 Sold 605-char remark

    Show marketing remark (605 chars)

    Welcome to this charming 3-bedroom, 2-bathroom home located in the serene surroundings of Saluda Lake Road. This property features a spacious living room with a cozy fireplace, a moderate size kitchen with appliances, and a primary bedroom with an en-suite bathroom. The outdoor space offers a large deck, perfect for entertaining or simply enjoying the natural beauty of the area. With its convenient location and beautiful surroundings, this home is a must-see for anyone looking for a peaceful retreat in Greenville, SC. Fresh interior paint, new kitchen flooring and new decking boards are a must-see.

22. 2024-10-25
    historical Contingency Contract 605-char remark

    Show marketing remark (605 chars)

    Welcome to this charming 3-bedroom, 2-bathroom home located in the serene surroundings of Saluda Lake Road. This property features a spacious living room with a cozy fireplace, a moderate size kitchen with appliances, and a primary bedroom with an en-suite bathroom. The outdoor space offers a large deck, perfect for entertaining or simply enjoying the natural beauty of the area. With its convenient location and beautiful surroundings, this home is a must-see for anyone looking for a peaceful retreat in Greenville, SC. Fresh interior paint, new kitchen flooring and new decking boards are a must-see.

23. 2024-10-01
    historical
24. 2024-09-30
    listed $210,000 Active 605-char remark

    Show marketing remark (605 chars)

    Welcome to this charming 3-bedroom, 2-bathroom home located in the serene surroundings of Saluda Lake Road. This property features a spacious living room with a cozy fireplace, a moderate size kitchen with appliances, and a primary bedroom with an en-suite bathroom. The outdoor space offers a large deck, perfect for entertaining or simply enjoying the natural beauty of the area. With its convenient location and beautiful surroundings, this home is a must-see for anyone looking for a peaceful retreat in Greenville, SC. Fresh interior paint, new kitchen flooring and new decking boards are a must-see.

25. 2024-08-26
    price $210,000
26. 2024-08-14
    price $220,000
27. 2024-08-05
    listed $240,000 Active
28. 2021-12-14
    soldstatus $165,000
29. 2021-11-30
    soldstatus $165,000 Sold
30. 2021-10-12
    historical Contingency Contract
31. 2021-10-08
    listed $175,000 Active
32. 2008-11-14
    soldstatus $15,000
33. 2008-10-28
    historical
34. 2008-10-02
    listed $19,900

ⓘ 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: $3,955 · $330/mo
• Projected year-2 tax: $3,955 · $330/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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,456
• − Mortgage interest: −$12,094
• − Property taxes: −$3,955
• − Insurance: −$1,080
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$6,281
• Taxable loss: −$4,545
• Est. tax savings @ 24.0%: +$1,091
• After-tax cash flow: $211/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Berea

• Score: 72/100
• State rank: #44
• US rank: #6173

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berea, SC
• County: Greenville County · 573,815 people
• Metro: Greenville-Anderson, SC
• Population (ZIP): 32,365
• Household income: $51,565
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1754.0

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Black 29% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 79% English-only · Spanish 19% Russian/Polish/Slavic 1%

Political lean MEDSL · Greenville

• 2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
• 2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.58%
• Current HPI: 264.2891
• Rent YoY: ▲ 1.72%
• Metro: Greenville-Anderson, 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

+995.0% since first listed

20 events — show timeline

• 2026-05-23 Price Changed $217,900 Greater Greenville MLS
• 2026-05-22 Price Changed $218,900 Greater Greenville MLS
• 2026-05-22 Price Changed $218,900 WUMLS
• 2026-04-27 Listed $219,900 WUMLS
• 2026-04-27 Listed $219,900 Greater Greenville MLS
• 2024-11-27 Sold (Public Records) $194,000 Public Records
• 2024-11-25 Sold (MLS) $194,000 Greater Greenville MLS
• 2024-10-25 Contingent — Greater Greenville MLS
• 2024-10-01 Listing Removed — Greater Greenville MLS
• 2024-09-30 Listed $210,000 Greater Greenville MLS
• 2024-08-26 Price Changed $210,000 Greater Greenville MLS
• 2024-08-14 Price Changed $220,000 Greater Greenville MLS
• 2024-08-05 Listed $240,000 Greater Greenville MLS
• 2021-12-14 Sold (Public Records) $165,000 Public Records
• 2021-11-30 Sold (MLS) $165,000 Greater Greenville MLS
• 2021-10-12 Contingent — Greater Greenville MLS
• 2021-10-08 Listed $175,000 Greater Greenville MLS
• 2008-11-14 Sold (MLS) $15,000 Greater Greenville MLS
• 2008-10-28 Listing Removed — Greater Greenville MLS
• 2008-10-02 Listed $19,900 Greater Greenville MLS

Property tax history

+16.6%/yr

Latest (2025): $3,955 · +6.0% YoY. Source: county tax records.