100 Lipscomb St · Gaffney, SC 29340

$72,500

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 24 Days on market

Built 1931 8,276 sqft lot

---

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 +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Potential three bedroom, one bathroom home waiting to be restored. Perfect for a future rental or investment opportunity. Snag this home ready for rehab!

Key facts

• Corner lot
• 8,276 sq ft lot
• Built 1931

Tags

• CORNER LOT
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Lot size: 0.19 acres
• Financial info: Tax details provided: annual tax amount available
• HOA & community: HOA details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Finished living area above grade: 1,352
• Construction: Construction details not provided
• Exterior features: Porch; Corner lot

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedroom count not provided
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating and cooling details not provided
• Interior features: Basement: None
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 2.6% in Gaffney — 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 66/100 on livability (#112 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, crime D, commute 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: Limestone-Central Elementary (math 27% / reading 32%, grade F, #399 of 597 statewide, top 69%, 490 students, 100% FRL); 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 95% FRL vs 64% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 160 active listings in the ZIP; 1 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).
• This rent runs 31% of the median local income ($44k/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 $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $50k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $71,412 (1.5% below list)

Questions for the listing agent

1. Built in 1931 — 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 D 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: 1.58% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.02%
• DSCR: 2.16
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $182,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 E Jefferies St	0.14mi	2/1.0 (-1)	1,436 (+6%)	1mo	$140,000	$97	77
1103 Elmore St	0.41mi	3/2.0	1,292 (-4%)	2mo	$247,000	$191	68
362 E Floyd Baker Blvd	0.29mi	3/1.0	1,205 (-11%)	4mo	$76,000	$63	65
317 Sycamore St St	0.52mi	3/2.0	1,447 (+7%)	1mo	$189,000	$131	59
129 Hetty Hill St St	0.54mi	3/2.0	1,328 (-2%)	16mo	$192,500	$145	55
224 Hill St	0.49mi	2/1.0 (-1)	1,180 (-13%)	6mo	$65,000	$55	46
301 Sycamore St	0.45mi	3/2.0	1,192 (-12%)	12mo	$235,000	$197	45
205 E Robinson St	0.69mi	3/2.0	1,452 (+7%)	7mo	$199,900	$138	45
1652 E Frederick St	0.69mi	3/1.0	1,240 (-8%)	16mo	$90,000	$73	41
600 Hetty Hill St	0.67mi	3/1.5	1,171 (-13%)	11mo	$145,000	$124	35
129 Granite Dr Dr	0.65mi	3/2.0	1,178 (-13%)	15mo	$158,900	$135	32
607 Holly St	0.69mi	2/1.0 (-1)	1,187 (-12%)	14mo	$185,000	$156	31

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $16,282
• Equity at exit: $10,810

10-year hold

• IRR: 28.0%
• Equity multiple: 3.48×
• Total profit: $50,253
• Equity at exit: $6,268

Cash invested: $20,300 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,142 medium
• Mortgage (P&I): −$380
• Tax from tax record: −$51 /mo · $618/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $440

Break-even live

Break-even rent $585

Max offer price $72,500

Occupancy floor 56%

Sensitivity live

Price	-10% $481	-5% $461	+0% $440	+5% $420	+10% $399
Rent	-10% $350	-5% $395	+0% $440	+5% $485	+10% $530
Rate	-1.0pp $477	-0.5pp $459	base $440	+0.5pp $421	+1.0pp $402

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 S Oliver St Gaffney, SC	1.0–2.0	1.0	900	$955	$1.06	17d	5	0.96mi

Listing history 19 events

1. 2026-06-21
   days on market $72,500 Active 24 DOM
2. 2026-06-19
   days on market $72,500 Active 22 DOM
3. 2026-06-18
   days on market $72,500 Active 21 DOM
4. 2026-06-17
   days on market $72,500 Active 20 DOM
5. 2026-06-16
   days on market $72,500 Active 19 DOM
6. 2026-06-15
   days on market $72,500 Active 18 DOM
7. 2026-06-14
   days on market $72,500 Active 16 DOM
8. 2026-06-13
   days on market $72,500 Active 15 DOM
9. 2026-06-10
   days on market $72,500 Active 13 DOM
10. 2026-06-09
    days on market $72,500 Active 12 DOM
11. 2026-06-08
    days on market $72,500 Active 11 DOM
12. 2026-06-07
    days on market $72,500 Active 10 DOM
13. 2026-06-02
    days on market $72,500 Active 5 DOM
14. 2026-06-01
    days on market $72,500 Active 4 DOM
15. 2026-05-31
    days on market $72,500 Active 3 DOM
16. 2026-05-30
    days on market $72,500 Active 2 DOM
17. 2026-05-28
    listed $72,500 Active 153-char remark

    Show marketing remark (153 chars)

    Potential three bedroom, one bathroom home waiting to be restored. Perfect for a future rental or investment opportunity. Snag this home ready for rehab!

18. 2026-05-28
    listed $72,500 Active

    Show marketing remark (153 chars)

    Potential three bedroom, one bathroom home waiting to be restored. Perfect for a future rental or investment opportunity. Snag this home ready for rehab!

19. 2005-08-23
    soldstatus $50,000

ⓘ 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: $618 · $51/mo
• Projected year-2 tax: $618 · $51/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°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: $13,703
• − Mortgage interest: −$4,061
• − Property taxes: −$618
• − Insurance: −$362
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$2,109
• Taxable income: $4,360
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $4,236/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 — Gaffney

• Score: 66/100
• State rank: #112
• US rank: #11549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gaffney, SC
• County: Cherokee County · 41,410 people
• City population: 41,410
• 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

+45.0% since first listed

3 events — show timeline

• 2026-05-28 Listed $72,500 SPMLS
• 2026-05-28 Listed $72,500 CCMLS
• 2005-08-23 Sold (Public Records) $50,000 Public Records

Property tax history

+13.9%/yr

Latest (2025): $618 · +4.2% YoY. Source: county tax records.