114 Pacific Mill Pl #5 · Lyman, SC 29365

$189,990

3 bd · 2.5 ba · 1,305 sqft · Townhouse · 89 Days on market

Built 2026 Good condition $146/sqft · 13% below area Est $219k · 13% under

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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 +14.4/30.0
• ARV discount +13.5/15.0
• Schools +5.3/10.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Exterior Home! Price Improvement! Move-In Ready! The Aspen welcomes you with an open, connected main level and gives you more privacy upstairs. With 3 bedrooms, 2.5 bathrooms, and 1,305 square feet of beautifully designed living space, this two-story home offers a comfortable layout designed for everyday life. Step inside through the foyer and into the main living area, where the kitchen and dining area open to the great room. The kitchen features a center island that's perfect for meal prep, casual dining, or gathering with family and friends, along with a pantry for extra storage. A powder bathroom is located nearby for added convenience.

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 $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $40 ($480/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 $171k (9.9% below list).
• Recommended offer: $171k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.5% in Lyman — 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 (#83 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Duncan Elementary School of The Arts (math 30% / reading 37%, grade F, #362 of 597 statewide, top 61%, 689 students, 100% FRL); D. R. Hill Middle (math 28% / reading 38%, grade F, #116 of 229 statewide, top 51%, 702 students, 80% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL) — zoned schools average 79% FRL vs 39% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 294 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

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 $171,264 (9.9% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.90% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $219,200
• List price: $189,990
• Delta: -13.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Pacific Mill Pl	0.58mi	3/2.5	1,305 (0%)	1mo	$189,990	$146	72
106 Pacific Mill Pl	0.60mi	3/2.5	1,305 (0%)	2mo	$189,990	$146	70
845 Ernest Ln	0.53mi	3/2.5	1,276 (-2%)	5mo	$189,900	$149	67
857 Ernest Ln	0.55mi	3/2.5	1,276 (-2%)	5mo	$187,900	$147	67
865 Ernest Ln	0.56mi	3/2.5	1,276 (-2%)	5mo	$199,900	$157	66
819 Ernest Ln	0.51mi	3/2.5	1,480 (+13%)	5mo	$199,900	$135	50
855 Ernest Ln	0.54mi	3/2.5	1,480 (+13%)	5mo	$214,900	$145	48
847 Ernest Ln	0.53mi	3/2.5	1,480 (+13%)	6mo	$224,900	$152	48
867 Ernest Ln	0.56mi	3/2.5	1,480 (+13%)	4mo	$214,900	$145	48
863 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	5mo	$224,900	$152	48
851 Ernest Ln	0.54mi	3/2.5	1,480 (+13%)	6mo	$203,500	$138	48
859 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	6mo	$222,400	$150	47

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-28,213
• Equity at exit: $28,328

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-21,181
• Equity at exit: $16,427

Cash invested: $53,197 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 6 under contract
• Months of supply: 5.1 mo (20%/mo absorbed)
• Median asking: $189,990 ($146/sqft)
• Median days on market: 77 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +15.4% above current asking $/sqft

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

ZIP-level market 29365

• Home prices YoY: -18.1%
• Active inventory: 294
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,713 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $40

Break-even live

Break-even rent $1,662

Max offer price $189,990

Occupancy floor 93%

Sensitivity live

Price	-10% $171	-5% $106	+0% $40	+5% $-26	+10% $-91
Rent	-10% $-95	-5% $-28	+0% $40	+5% $108	+10% $175
Rate	-1.0pp $136	-0.5pp $88	base $40	+0.5pp $-9	+1.0pp $-59

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: $47,498
• Closing costs: $5,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	117d	1	0.51mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	109d	1	0.52mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	117d	1	0.53mi
610 Universal Dr Lyman, SC	1.0–2.0	1.0–1.5	852	$1,685	$1.98	0d	7	1.02mi
527 Nova Ln Duncan, SC	3.0	2.5	1404	$1,645	$1.17	117d	1	1.04mi
1042 Westergard Way Lyman, SC	3.0	2.5	1480	$1,500	$1.01	6d	1	1.11mi
Paradise Pl Wellford, SC	2.0	2.5	990	$1,395	$1.41	6d	1	1.32mi
Angelic Pl Wellford, SC	3.0	2.5	1280	$1,520	$1.19	117d	2	1.34mi
Halo Dr Wellford, SC	2.0–3.0	1.5–2.5	1135	$1,445	$1.27	6d	3	1.35mi
244 Halo Dr Wellford, SC	2.0–3.0	1.5–2.5	1137	$1,595	$1.40	6d	5	1.35mi
266 Christopher Street Ext Duncan, SC	3.0	2.5	1606	$1,825	$1.14	6d	1	1.37mi
266 Christopher Street Ext Duncan, SC	3.0	2.5	1606	$1,825	$1.14	117d	1	1.37mi
342 Honor Rd Duncan, SC	3.0	2.0	1176	$1,695	$1.44	6d	1	1.49mi

Property features AI

Finance

• Financial info: List price $204,990

Exterior

• Home design: Condominium/townhome unit (unit #5)Active listing
• Construction: Built as part of the Aspen plan (new construction inventory type: Spec)
• Exterior features: Located at 114 Pacific Mill Pl #5, Lyman, SC 29365

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Spec home, Aspen planLiving area approximately 1,305

Listing history 50 events

1. 2026-09-14
   days on market $189,990 Active 89 DOM
2. 2026-09-13
   days on market $189,990 Active 88 DOM
3. 2026-09-12
   days on market $189,990 Active 87 DOM
4. 2026-09-11
   days on market $189,990 Active 86 DOM
5. 2026-09-05
   pricedays on market $189,990 Active 80 DOM
6. 2026-09-04
   days on market $192,990 Active 79 DOM
7. 2026-09-03
   days on market $192,990 Active 78 DOM
8. 2026-08-31
   days on market $192,990 Active 75 DOM
9. 2026-08-30
   days on market $192,990 Active 74 DOM
10. 2026-08-29
    days on market $192,990 Active 73 DOM
11. 2026-08-28
    days on market $192,990 Active 72 DOM
12. 2026-08-27
    days on market $192,990 Active 71 DOM
13. 2026-08-25
    days on market $192,990 Active 69 DOM
14. 2026-08-24
    days on market $192,990 Active 68 DOM
15. 2026-08-23
    days on market $192,990 Active 67 DOM
16. 2026-08-22
    days on market $192,990 Active 66 DOM
17. 2026-08-21
    days on market $192,990 Active 65 DOM
18. 2026-08-19
    days on market $192,990 Active 64 DOM
19. 2026-08-18
    days on market $192,990 Active 63 DOM
20. 2026-08-17
    days on market $192,990 Active 62 DOM
21. 2026-08-16
    days on market $192,990 Active 61 DOM
22. 2026-08-15
    days on market $192,990 Active 60 DOM
23. 2026-08-14
    days on market $192,990 Active 59 DOM
24. 2026-08-13
    days on market $192,990 Active 58 DOM
25. 2026-08-12
    days on market $192,990 Active 57 DOM
26. 2026-08-11
    days on market $192,990 Active 56 DOM
27. 2026-08-10
    days on market $192,990 Active 55 DOM
28. 2026-08-09
    days on market $192,990 Active 54 DOM
29. 2026-08-08
    days on market $192,990 Active 53 DOM
30. 2026-08-07
    days on market $192,990 Active 52 DOM
31. 2026-08-06
    days on market $192,990 Active 51 DOM
32. 2026-08-05
    days on market $192,990 Active 50 DOM
33. 2026-08-04
    days on market $192,990 Active 49 DOM
34. 2026-08-03
    days on market $192,990 Active 48 DOM
35. 2026-07-31
    pricedays on market $192,990 Active 45 DOM
36. 2026-07-30
    days on market $199,990 Active 44 DOM
37. 2026-07-29
    days on market $199,990 Active 43 DOM
38. 2026-07-27
    days on market $199,990 Active 41 DOM
39. 2026-07-25
    days on market $199,990 Active 39 DOM
40. 2026-07-23
    days on market $199,990 Active 37 DOM
41. 2026-07-22
    days on market $199,990 Active 36 DOM
42. 2026-07-21
    days on market $199,990 Active 35 DOM
43. 2026-07-18
    days on market $199,990 Active 32 DOM
44. 2026-07-16
    days on market $199,990 Active 30 DOM
45. 2026-07-16
    pricedays on market $199,990 Active 29 DOM
46. 2026-07-14
    days on market $194,990 Active 28 DOM
47. 2026-07-13
    days on market $194,990 Active 27 DOM
48. 2026-07-12
    days on market $194,990 Active 26 DOM
49. 2026-07-11
    days on market $194,990 Active 25 DOM
50. 2026-07-10
    days on market $194,990 Active 24 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,552
• − Mortgage interest: −$10,642
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$5,527
• Taxable loss: −$2,706
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $1,129/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

Good 80/100 None rehab

This townhouse is in excellent condition with a good condition score of 80. It is move-in ready with minimal updates needed to maximize its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms — Modernizes bathrooms and improves aesthetics ↑
• Both New kitchen appliances — Modernizes kitchen and improves functionality ↑

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Duncan Elementary School Of The Arts F SC #362/597 Nat'l #24,455/41,679 Middle Beech Springs Intermediate F SC #78/229 Nat'l #6,005/14,009 High James Byrnes Freshman Academy A SC #12/196 Nat'l #704/17,239

Schools (NCES district)

• District: Spartanburg 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

C Composite livability gradescore 68/100

Livability — Lyman

• Score: 68/100
• State rank: #83
• US rank: #9705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyman, SC
• County: Spartanburg County · 325,495 people
• City population: 14,068
• Metro: Spartanburg, SC
• Population (ZIP): 14,068
• Household income: $76,966
• Rent vs Own: 13.1% rent · 86.9% own
• Severe rent burden: 33% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Serbian 4% Slovak 2%
• Foreign-born: 9% · Canada, Philippines, Jamaica
• Languages at home: 83% English-only · Russian/Polish/Slavic 8% Spanish 7% Other Asian/Pacific 1%

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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: ▼ -56.35%
• Current HPI: 254.6167
• Rent YoY: —
• Metro: Spartanburg, 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

Property features AI

Finance

• Financial info: List price $204,990

Exterior

• Home design: Condominium/townhome unit (unit #5)Active listing
• Construction: Built as part of the Aspen plan (new construction inventory type: Spec)
• Exterior features: Located at 114 Pacific Mill Pl #5, Lyman, SC 29365

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Spec home, Aspen planLiving area approximately 1,305