114 Pacific Mill Pl #5 · Lyman, SC 29365

$192,990

3 bd · 2.5 ba · 1,305 sqft · Townhouse · 53 Days on market

Built 2026 Good condition $148/sqft · 12% below area Est $219k · 12% 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 +14.1/30.0
• ARV discount +12.9/15.0
• Schools +5.3/10.0
• DSCR +4.3/10.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• 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 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.

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 $193k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $30 ($355/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 $173k (10.6% below list).
• Recommended offer: $173k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% 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: 261 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 53 days — a 3% lower offer ($187k) 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 $172,566 (10.6% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 11% 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. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (median comp): $219,200
• List price: $192,990
• Delta: -11.96%
• 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
106 Pacific Mill Pl	0.60mi	3/2.5	1,305 (0%)	0mo	$189,990	$146	72
845 Ernest Ln	0.53mi	3/2.5	1,276 (-2%)	4mo	$189,900	$149	68
857 Ernest Ln	0.55mi	3/2.5	1,276 (-2%)	3mo	$187,900	$147	68
865 Ernest Ln	0.56mi	3/2.5	1,276 (-2%)	4mo	$199,900	$157	67
819 Ernest Ln	0.51mi	3/2.5	1,480 (+13%)	3mo	$199,900	$135	51
855 Ernest Ln	0.54mi	3/2.5	1,480 (+13%)	3mo	$214,900	$145	50
847 Ernest Ln	0.53mi	3/2.5	1,480 (+13%)	4mo	$224,900	$152	49
827 Ernest Ln	0.52mi	3/2.5	1,480 (+13%)	5mo	$227,900	$154	49
867 Ernest Ln	0.56mi	3/2.5	1,480 (+13%)	3mo	$214,900	$145	49
863 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	3mo	$224,900	$152	49
851 Ernest Ln	0.54mi	3/2.5	1,480 (+13%)	4mo	$203,500	$138	49
859 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	4mo	$222,400	$150	49

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-29,364
• Equity at exit: $28,775

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-23,039
• Equity at exit: $16,686

Cash invested: $54,037 (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: 12 active · 4 under contract
• Months of supply: 4.8 mo (21%/mo absorbed)
• Median asking: $191,490 ($147/sqft)
• Median days on market: 45 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +14.5% 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: 261
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,726 high
• Mortgage (P&I): −$1,012
• Tax est. 1.5%: −$241 /mo · $2,895/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $30

Break-even live

Break-even rent $1,688

Max offer price $192,990

Occupancy floor 93%

Sensitivity live

Price	-10% $163	-5% $96	+0% $30	+5% $-37	+10% $-104
Rent	-10% $-107	-5% $-39	+0% $30	+5% $98	+10% $166
Rate	-1.0pp $127	-0.5pp $79	base $30	+0.5pp $-20	+1.0pp $-71

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: $48,248
• Closing costs: $5,790
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	70d	1	0.51mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	63d	1	0.52mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	70d	1	0.53mi
610 Universal Dr Lyman, SC	1.0–3.0	1.0–2.5	1060	$1,799	$1.70	63d	11	1.02mi
527 Nova Ln Duncan, SC	3.0	2.5	1404	$1,645	$1.17	70d	1	1.04mi
Paradise Pl Wellford, SC	2.0–3.0	2.5	1135	$1,595	$1.41	70d	2	1.32mi
Angelic Pl Wellford, SC	3.0	2.5	1280	$1,520	$1.19	70d	2	1.34mi
Halo Dr Wellford, SC	2.0	1.5	995	$1,295	$1.30	63d	1	1.35mi
244 Halo Dr Wellford, SC	2.0–3.0	2.5	1137	$1,595	$1.40	70d	4	1.35mi
266 Christopher Street Ext Duncan, SC	3.0	2.5	1606	$1,825	$1.14	70d	1	1.37mi

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 42 events

1. 2026-08-08
   days on market $192,990 Active 53 DOM
2. 2026-08-07
   days on market $192,990 Active 52 DOM
3. 2026-08-06
   days on market $192,990 Active 51 DOM
4. 2026-08-05
   days on market $192,990 Active 50 DOM
5. 2026-08-04
   days on market $192,990 Active 49 DOM
6. 2026-08-03
   days on market $192,990 Active 48 DOM
7. 2026-07-31
   pricedays on market $192,990 Active 45 DOM
8. 2026-07-30
   days on market $199,990 Active 44 DOM
9. 2026-07-29
   days on market $199,990 Active 43 DOM
10. 2026-07-27
    days on market $199,990 Active 41 DOM
11. 2026-07-25
    days on market $199,990 Active 39 DOM
12. 2026-07-23
    days on market $199,990 Active 37 DOM
13. 2026-07-22
    days on market $199,990 Active 36 DOM
14. 2026-07-21
    days on market $199,990 Active 35 DOM
15. 2026-07-18
    days on market $199,990 Active 32 DOM
16. 2026-07-16
    days on market $199,990 Active 30 DOM
17. 2026-07-16
    pricedays on market $199,990 Active 29 DOM
18. 2026-07-14
    days on market $194,990 Active 28 DOM
19. 2026-07-13
    days on market $194,990 Active 27 DOM
20. 2026-07-12
    days on market $194,990 Active 26 DOM
21. 2026-07-11
    days on market $194,990 Active 25 DOM
22. 2026-07-10
    days on market $194,990 Active 24 DOM
23. 2026-07-09
    days on market $194,990 Active 23 DOM
24. 2026-07-08
    days on market $194,990 Active 22 DOM
25. 2026-07-07
    days on market $194,990 Active 21 DOM
26. 2026-07-06
    days on market $194,990 Active 20 DOM
27. 2026-07-05
    days on market $194,990 Active 19 DOM
28. 2026-07-04
    days on market $194,990 Active 18 DOM
29. 2026-07-03
    days on market $194,990 Active 17 DOM
30. 2026-07-02
    days on market $194,990 Active 16 DOM
31. 2026-07-01
    days on market $194,990 Active 15 DOM
32. 2026-06-30
    days on market $194,990 Active 14 DOM
33. 2026-06-29
    days on market $194,990 Active 13 DOM
34. 2026-06-28
    days on market $194,990 Active 12 DOM
35. 2026-06-28
    days on market $194,990 Active 11 DOM
36. 2026-06-27
    days on market $194,990 Active 10 DOM
37. 2026-06-25
    pricedays on market $194,990 Active 8 DOM
38. 2026-06-23
    days on market $204,990 Active 6 DOM
39. 2026-06-22
    days on market $204,990 Active 5 DOM
40. 2026-06-18
    days on market $204,990 Active 2 DOM
41. 2026-06-16
    remarks 699-char remark
42. 2026-06-16
    listed $204,990 Active 1 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: $20,708
• − Mortgage interest: −$10,810
• − Property taxes: −$2,895
• − Insurance: −$965
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$5,614
• Taxable loss: −$2,890
• Est. tax savings @ 24.0%: +$694
• After-tax cash flow: $1,048/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