303 S Elm St · Pendleton, SC 29670

$159,000

3 bd · 1.0 ba · 1,353 sqft · Other public records · 17 Days on market

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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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A fantastic bungalow in the center of growing Downtown Pendleton. This home sits on almost a quarter-acre level lot and offers 3 well-sized bedrooms, a living space, a kitchen, and 1 full bathroom. A perfect home in a growing area that offers options, from being a starter home or an investment property with much potential. Recently installed new flooring throughout, and the current roof was replaced in 2017. It is very walkable to the Square on Pendleton and adjacent to Veterans Park for easy access. Located approximately 1 mile from Tri-County Tech and 4 miles from Clemson University. 24 advance notice for showings is required.

Key facts

• New flooring
• Replaced roof
• Listed 17 days

Tags

• QUARTER-ACRE LEVEL LOT
• NEW FLOORING
• REPLACED ROOF
• WALKABLE TO THE SQUARE
• ADJACENT TO VETERANS PARK
• 1 MILE FROM TRI-COUNTY TECH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home; Over 50 years old
• Construction: Vinyl siding; Crawlspace and slab foundation
• Exterior features: City lot; Not in a subdivision

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $159k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.1% in Pendleton — 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 68/100 on livability (#82 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: schools D+, amenities F, commute F.
• Anderson 04 (rural): math 56% / reading 60% proficiency, ranked #4 of 80 in SC (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 17 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.
• Current owner paid $135k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-5,102
• Equity at exit: $23,707

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $22,186
• Equity at exit: $13,747

Cash invested: $44,520 (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 29670

• Home prices YoY: -2.8%
• Active inventory: 161
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,763 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$169 /mo · $2,022/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $324

Break-even live

Break-even rent $1,353

Max offer price $159,000

Occupancy floor 77%

Sensitivity live

Price	-10% $414	-5% $369	+0% $324	+5% $279	+10% $234
Rent	-10% $185	-5% $255	+0% $324	+5% $394	+10% $464
Rate	-1.0pp $404	-0.5pp $365	base $324	+0.5pp $283	+1.0pp $241

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Mountain Mint LN Pendleton, SC	1.0–3.0	1.0–2.0	954	$1,765	$1.85	4d	20	0.35mi
804 S Mechanic St Unit 3A Pendleton, SC	3.0	2.5	1320	$1,675	$1.27	25d	1	0.56mi
319 Noble Ln Unit 319 Pendleton, SC	3.0	2.5	1234	$1,600	$1.30	25d	1	1.01mi
435 W Queen St Pendleton, SC	2.0	1.0	1100	$1,200	$1.09	25d	1	1.02mi

Listing history 14 events

1. 2026-05-15
   status Pending
2. 2026-04-27
   listed $159,000 Active
3. 2025-10-22
   historical $1,300
4. 2025-09-24
   listed $1,300
5. 2025-09-05
   historical $1,300
6. 2025-08-21
   listed $1,300
7. 2025-07-16
   historical
8. 2025-06-25
   price $179,000
9. 2025-04-25
   price $199,000
10. 2025-02-03
    listed $215,000 Active
11. 2024-10-25
    historical $1,300
12. 2024-09-24
    listed $1,300
13. 2017-02-21
    soldstatus $135,000
14. 1987-03-17
    soldstatus $17,000

ⓘ 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: $2,022 · $169/mo
• Projected year-2 tax: $2,022 · $169/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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $21,158
• − Mortgage interest: −$8,906
• − Property taxes: −$2,022
• − Insurance: −$795
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − Depreciation: −$4,625
• Taxable income: $1,423
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $3,550/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: Anderson 04
• NCES district ID: 4500870
• Math proficiency: 56% ▼ -5.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $48,338
• Composite: 49.25/100
• National rank: #2030
• State rank: #4 of 80 in SC

Livability — Pendleton

• Score: 68/100
• State rank: #82
• US rank: #9399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pendleton, SC
• County: Anderson County · 99,076 people
• City population: 11,084
• Metro: Greenville-Anderson, SC
• Population (ZIP): 11,084
• Household income: $72,445
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 280.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 15% Two or more races 5% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 5% Lithuanian 5% Serbian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -10.11%
• Current HPI: 348.1373
• Rent YoY: —
• 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

+835.3% since first listed

14 events — show timeline

• 2026-05-15 Pending — WUMLS
• 2026-04-27 Listed $159,000 WUMLS
• 2025-10-22 Rental Removed $1,300 APPFOLIO
• 2025-09-24 Listed for Rent $1,300 APPFOLIO
• 2025-09-05 Rental Removed $1,300 APPFOLIO
• 2025-08-21 Listed for Rent $1,300 APPFOLIO
• 2025-07-16 Listing Removed — WUMLS
• 2025-06-25 Price Changed $179,000 WUMLS
• 2025-04-25 Price Changed $199,000 WUMLS
• 2025-02-03 Listed $215,000 WUMLS
• 2024-10-25 Rental Removed $1,300 APPFOLIO
• 2024-09-24 Listed for Rent $1,300 APPFOLIO
• 2017-02-21 Sold (Public Records) $135,000 Public Records
• 1987-03-17 Sold (Public Records) $17,000 Public Records

Property tax history

+7.2%/yr

Latest (2022): $2,022 · +11.4% YoY. Source: county tax records.