1422 Penrith Ct · Valley Falls, SC 29334

$302,000

5 bd · 2.5 ba · 2,328 sqft · SingleFamily public records · 99 Days on market

Built 2023 4,356 sqft lot Est $310k · at est. $47/mo HOA · 2% of rent ↓ 37% since listing

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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 +11.3/30.0
• ARV discount +8.6/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• Rent growth +2.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to the beautiful Dickenson!! As you enter the home you will notice the beautiful foyer that leads into stunning kitchen with large island and breakfast bar. Sunlit breakfast nook great for coffee in the morning. Beautiful quartz countertops and tile backsplash. Frigidaire gas range is ready for all you chef's out there. Great room right off kitchen. .. fantastic space for entertaining. Find a guest suite with a full bath on main level. .. great for guests. Upstairs you will find a beautiful loft with an abundance of natural light. Large owner's suite with spa like en suite. This home is a must see. Come check it out!! Standing Rock is located just minutes from I-85, easy access to anything you could possibly need. 10 minute drive to downtown Spartanburg, 20 minutes to the airport, only 5 minutes to any shopping and dining you need. This desirable location offers easy access to Greenville and Spartanburg's unique boutiques, great galleries and terrific restaurants, breweries and wineries. In Spartanburg County, where Boiling Springs is located, you’ll find six lakes for fishing and boating – including the 1,534-acre Lake Bowen with 33 miles of shoreline.

Key facts

• Cul-de-sac location
• Community pool
• Community playground

Tags

• CUL-DE-SAC LOCATION
• OUTDOOR KITCHEN
• COMMUNITY PLAYGROUND
• COMMUNITY POOL
• OWNER'S SUITE
• SPACIOUS LOFT

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $560 (about $46.67/month); Community amenities include street lights, playground, and pool

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; Two stories; Residential property
• Construction: Stone and vinyl siding exterior; Slab foundation; Built as part of a two-story design
• Exterior features: Deck; Patio; Outdoor kitchen with barbecue and outdoor grill; Located on a cul-de-sac

Interior

• Kitchen: Gas cooktop; Gas oven; Dishwasher; Microwave; Refrigerator; Disposal; Electric water heater
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating with forced air; Central electric air conditioning; Ceiling fans
• Interior features: Walk-in closets; Ceiling fans; Open floor plan; Pantry; Window treatments; Outside fireplace
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $302k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (23.6% below list).
• Recommended offer: $231k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.9% in Valley Falls — 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 69/100 on livability (#72 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, amenities F, employment D-.
• Spartanburg 02 (suburban): math 49% / reading 56% proficiency, ranked #6 of 80 in SC (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James H. Hendrix Elementary (math 55% / reading 45%, grade D+, #163 of 597 statewide, top 28%, 694 students, 89% FRL); Boiling Springs Middle (math 39% / reading 50%, grade D, #52 of 229 statewide, top 23%, 1,068 students, 70% FRL); Boiling Springs High (math 62% / reading 88%, grade A-, #37 of 196 statewide, top 18%, 2,671 students, 60% FRL) — zoned schools average 73% FRL vs 44% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 144 active listings in the ZIP; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• This rent runs 34% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $9k 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 99 days — a 9% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,798 (23.6% 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 99 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $309,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Barreto Ct	0.36mi	4/2.5 (-1)	2,345 (+1%)	2mo	$364,000	$155	76
1226 Kilead	0.20mi	5/2.5	2,306 (-1%)	22mo	$264,999	$115	71
1743 Southwold Ln	0.09mi	5/3.0	2,648 (+14%)	2mo	$300,000	$113	69
1917 Landrow Ln	0.13mi	5/3.0	2,671 (+15%)	2mo	$300,000	$112	66
1730 Southwold Ln	0.09mi	4/2.5 (-1)	2,066 (-11%)	13mo	$268,000	$130	61
7014 New Horizons Ln	0.30mi	4/2.5 (-1)	2,083 (-10%)	5mo	$319,000	$153	60
1950 Landrow Ln	0.19mi	4/2.5 (-1)	2,029 (-13%)	13mo	$259,900	$128	54
522 Hemlock Dr	0.75mi	4/3.0 (-1)	2,368 (+2%)	8mo	$255,000	$108	49
878 Deepwood Ct	0.69mi	4/3.0 (-1)	2,140 (-8%)	10mo	$285,000	$133	39
423 Stepstones Dr	0.69mi	4/3.0 (-1)	2,444 (+5%)	16mo	$340,000	$139	39
636 Highgarden Ln	0.74mi	5/3.0	2,588 (+11%)	9mo	$350,000	$135	37
849 Deepwood Ct	0.66mi	5/3.0	2,561 (+10%)	21mo	$350,000	$137	33

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 · 1.52% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.30×
• Total profit: $-59,538
• Equity at exit: $45,029

10-year hold

• IRR: -17.1%
• Equity multiple: 0.12×
• Total profit: $-74,786
• Equity at exit: $26,111

Cash invested: $84,560 (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 29334

• Home prices YoY: -21.7%
• Rents YoY: 1.5%
• Active inventory: 144
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,308 medium
• Mortgage (P&I): −$1,584
• Tax from tax record: −$179 /mo · $2,149/yr
• Insurance: −$126
• HOA: −$47
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-112

Break-even live

Break-even rent $2,450

Max offer price $282,153

Occupancy floor 100%

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: $75,500
• Closing costs: $9,060
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $47 · $564/yr
• Likely covers: gas

Listing history 16 events

1. 2026-06-09
   days on market $302,000 Active 99 DOM
2. 2026-06-08
   days on market $302,000 Active 98 DOM
3. 2026-06-07
   days on market $302,000 Active 97 DOM
4. 2026-06-05
   days on market $302,000 Active 94 DOM
5. 2026-06-02
   days on market $302,000 Active 92 DOM
6. 2026-06-01
   days on market $302,000 Active 91 DOM
7. 2026-05-31
   days on market $302,000 Active 90 DOM
8. 2026-05-30
   days on market $302,000 Active 89 DOM
9. 2026-04-30
   price $302,000
10. 2026-03-26
    price $306,000
11. 2026-03-02
    listed $315,000 Active
12. 2023-06-29
    soldstatus $299,999 Sold In-House 1198-char remark

    Show marketing remark (1198 chars)

    Welcome home to the beautiful Dickenson!! As you enter the home you will notice the beautiful foyer that leads into stunning kitchen with large island and breakfast bar. Sunlit breakfast nook great for coffee in the morning. Beautiful quartz countertops and tile backsplash. Frigidaire gas range is ready for all you chef's out there. Great room right off kitchen. .. fantastic space for entertaining. Find a guest suite with a full bath on main level. .. great for guests. Upstairs you will find a beautiful loft with an abundance of natural light. Large owner's suite with spa like en suite. This home is a must see. Come check it out!! Standing Rock is located just minutes from I-85, easy access to anything you could possibly need. 10 minute drive to downtown Spartanburg, 20 minutes to the airport, only 5 minutes to any shopping and dining you need. This desirable location offers easy access to Greenville and Spartanburg's unique boutiques, great galleries and terrific restaurants, breweries and wineries. In Spartanburg County, where Boiling Springs is located, you’ll find six lakes for fishing and boating – including the 1,534-acre Lake Bowen with 33 miles of shoreline.

13. 2023-04-14
    status Pending 1198-char remark

    Show marketing remark (1198 chars)

    Welcome home to the beautiful Dickenson!! As you enter the home you will notice the beautiful foyer that leads into stunning kitchen with large island and breakfast bar. Sunlit breakfast nook great for coffee in the morning. Beautiful quartz countertops and tile backsplash. Frigidaire gas range is ready for all you chef's out there. Great room right off kitchen. .. fantastic space for entertaining. Find a guest suite with a full bath on main level. .. great for guests. Upstairs you will find a beautiful loft with an abundance of natural light. Large owner's suite with spa like en suite. This home is a must see. Come check it out!! Standing Rock is located just minutes from I-85, easy access to anything you could possibly need. 10 minute drive to downtown Spartanburg, 20 minutes to the airport, only 5 minutes to any shopping and dining you need. This desirable location offers easy access to Greenville and Spartanburg's unique boutiques, great galleries and terrific restaurants, breweries and wineries. In Spartanburg County, where Boiling Springs is located, you’ll find six lakes for fishing and boating – including the 1,534-acre Lake Bowen with 33 miles of shoreline.

14. 2023-04-01
    price $292,999 1198-char remark

    Show marketing remark (1198 chars)

    Welcome home to the beautiful Dickenson!! As you enter the home you will notice the beautiful foyer that leads into stunning kitchen with large island and breakfast bar. Sunlit breakfast nook great for coffee in the morning. Beautiful quartz countertops and tile backsplash. Frigidaire gas range is ready for all you chef's out there. Great room right off kitchen. .. fantastic space for entertaining. Find a guest suite with a full bath on main level. .. great for guests. Upstairs you will find a beautiful loft with an abundance of natural light. Large owner's suite with spa like en suite. This home is a must see. Come check it out!! Standing Rock is located just minutes from I-85, easy access to anything you could possibly need. 10 minute drive to downtown Spartanburg, 20 minutes to the airport, only 5 minutes to any shopping and dining you need. This desirable location offers easy access to Greenville and Spartanburg's unique boutiques, great galleries and terrific restaurants, breweries and wineries. In Spartanburg County, where Boiling Springs is located, you’ll find six lakes for fishing and boating – including the 1,534-acre Lake Bowen with 33 miles of shoreline.

15. 2023-03-24
    listed $319,459 Active 1198-char remark

    Show marketing remark (1198 chars)

    Welcome home to the beautiful Dickenson!! As you enter the home you will notice the beautiful foyer that leads into stunning kitchen with large island and breakfast bar. Sunlit breakfast nook great for coffee in the morning. Beautiful quartz countertops and tile backsplash. Frigidaire gas range is ready for all you chef's out there. Great room right off kitchen. .. fantastic space for entertaining. Find a guest suite with a full bath on main level. .. great for guests. Upstairs you will find a beautiful loft with an abundance of natural light. Large owner's suite with spa like en suite. This home is a must see. Come check it out!! Standing Rock is located just minutes from I-85, easy access to anything you could possibly need. 10 minute drive to downtown Spartanburg, 20 minutes to the airport, only 5 minutes to any shopping and dining you need. This desirable location offers easy access to Greenville and Spartanburg's unique boutiques, great galleries and terrific restaurants, breweries and wineries. In Spartanburg County, where Boiling Springs is located, you’ll find six lakes for fishing and boating – including the 1,534-acre Lake Bowen with 33 miles of shoreline.

16. 2023-02-21
    soldstatus $477,000

ⓘ 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: $2,149 · $179/mo
• Projected year-2 tax: $2,149 · $179/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 5/10 Major 6 d/yr ≥104°F today · 13 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,696
• − Mortgage interest: −$16,917
• − Property taxes: −$2,149
• − Insurance: −$1,510
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − HOA: −$564
• − Depreciation: −$8,785
• Taxable loss: −$6,661
• Est. tax savings @ 24.0%: +$1,599
• After-tax cash flow: $250/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: Spartanburg 02
• NCES district ID: 4503510
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $49,591
• Composite: 44.79/100
• National rank: #2742
• State rank: #6 of 80 in SC

Livability — Valley Falls

• Score: 69/100
• State rank: #72
• US rank: #8644

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valley Falls, SC
• County: Spartanburg County · 258,607 people
• City population: 28,009
• Metro: Spartanburg, SC
• Population (ZIP): 18,575
• Household income: $81,413
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 300.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 22% Hispanic / Latino 9% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Lithuanian 2% Serbian 1% Italian 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -63.74%
• Current HPI: 230.2483
• Rent YoY: ▲ 1.52%
• Metro: Spartanburg, 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

-36.7% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $302,000 SPMLS
• 2026-03-26 Price Changed $306,000 SPMLS
• 2026-03-02 Listed $315,000 SPMLS
• 2023-06-29 Sold (MLS) $299,999 SPMLS
• 2023-04-14 Pending — SPMLS
• 2023-04-01 Price Changed $292,999 SPMLS
• 2023-03-24 Listed $319,459 SPMLS
• 2023-02-21 Sold (Public Records) $477,000 Public Records

Property tax history

+227.9%/yr

Latest (2025): $2,149 · +0.5% YoY. Source: county tax records.