631 Riveroak Cir · Boiling Springs, SC 29349

$259,000

3 bd · 2.0 ba · 1,576 sqft · SingleFamily public records · 3 Days on market

Built 1973 1.04 ac lot Est $299k · 14% under

---

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).

• ARV discount +13.6/15.0
• Cash flow +12.5/30.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• 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

Location, privacy, potential - 631 Riveroak Circle has it all! Sitting on over an acre, this all brick 3 bedroom 2 full bath ranch home features a large rear patio, a walkout basement, and a barn/workshop out back. The home features an open floor plan with 1570 sq ft on the main floor with an updated HVAC and roof. In the basement, you'll find an additional large finished room and fireplace along with an unfinished room, bathroom, and walkout garage. Outside, you'll find a barn/workshop with power and a water well. This home is located on a quiet street but still conveniently close to schools, stores, Hwy 9, Lake Bowen, and more. The possibilities are endless on this home!

Key facts

• Walkout basement
• Barn workshop
• Finished room

Tags

• LARGE REAR PATIO
• WALKOUT BASEMENT
• BARN WORKSHOP
• UPDATED HVAC
• UPDATED ROOF
• FINISHED ROOM

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Attached 1-car garage; Attached carport for 2 cars; Basement-level garage/workshop with yard door; Gravel driveway; Garage and additional outbuilding with electricity for storage
• Utilities: Public water and well; Septic system; Electric water heater; Electric power available; No garbage pickup
• Home design: Single story with basement; Older home (50+ years)
• Construction: Architectural roof; Crawl space/slab and basement foundation
• Exterior features: Front porch; Patio; Vinyl/aluminum trim; Brick veneer (full)

Interior

• Kitchen: Dishwasher; Wall oven; Electric cooktop; Electric oven; Electric freestanding range; Range hood
• Bedrooms: Primary bedroom on main level with full bath and walk-in closet (13 x 10); Second bedroom (12 x 11); Third bedroom (11 x 11)
• Flooring: Carpet; Laminate flooring
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Electric heating; Heat pump; Central forced cooling; Heat pump cooling
• Interior features: Ceiling fan; Walk-in closet; Laminate countertops; Attic fan; Woodstove and wood-burning fireplace; Partial finished, walkout basement with interior access; Workshop
• Laundry & utility: First-floor laundry with walk-in area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $-40 ($-479/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (23.6% below list).
• Recommended offer: $198k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% in Boiling Springs — 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 78/100 on livability (#17 in SC, #2,429 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• 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: Oakland Elementary (math 64% / reading 57%, grade B-, #84 of 597 statewide, top 14%, 784 students, 63% FRL) — zoned schools average 63% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 699 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• This rent runs 31% of the median local income ($76k/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 $8k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

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 $197,819 (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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 6.11%
• Cash-on-cash: -0.66%
• DSCR: 0.97
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $299,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
837 Alley Ridge Dr	0.65mi	3/2.0	1,576 (0%)	13mo	$255,000	$162	59
313 Trail Crossing Ln	0.54mi	3/2.0	1,474 (-6%)	13mo	$256,500	$174	53
821 Alley Ridge Dr	0.61mi	3/2.0	1,456 (-8%)	8mo	$265,000	$182	52
410 Sunburst Ln	0.59mi	3/2.5	1,631 (+4%)	18mo	$399,900	$245	50
12018 Mahogany Cir	0.65mi	3/2.0	1,777 (+13%)	12mo	$351,170	$198	38
12050 Mahogany Cir	0.67mi	3/2.0	1,787 (+13%)	10mo	$305,000	$171	38
12091 Mahogany Cir	0.61mi	3/2.0	1,787 (+13%)	14mo	$379,697	$212	38
15015 Juglans Ct	0.57mi	4/3.0 (+1)	1,809 (+15%)	3mo	$337,990	$187	37
14026 Satinwood Way	0.74mi	3/3.0	1,809 (+15%)	7mo	$370,990	$205	31
12116 Mahogany Cir	0.65mi	4/3.0 (+1)	1,809 (+15%)	8mo	$352,990	$195	30
13021 Black Walnut Way	0.74mi	4/3.0 (+1)	1,809 (+15%)	17mo	$343,200	$190	17
14011 Satinwood Way	0.74mi	4/3.0 (+1)	1,809 (+15%)	18mo	$316,990	$175	16

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-46,976
• Equity at exit: $38,618

10-year hold

• IRR: -13.5%
• Equity multiple: 0.25×
• Total profit: $-54,056
• Equity at exit: $22,394

Cash invested: $72,520 (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 29349

• Home prices YoY: -31.8%
• Rents YoY: 1.8%
• Active inventory: 699
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,978 medium
• Mortgage (P&I): −$1,358
• Tax from tax record: −$137 /mo · $1,638/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $-40

Break-even live

Break-even rent $2,029

Max offer price $251,950

Occupancy floor 97%

Sensitivity live

Price	-10% $107	-5% $33	+0% $-40	+5% $-113	+10% $-187
Rent	-10% $-196	-5% $-118	+0% $-40	+5% $38	+10% $116
Rate	-1.0pp $91	-0.5pp $26	base $-40	+0.5pp $-107	+1.0pp $-175

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Trail Crossing Ln Inman, SC	3.0	2.0	1456	$1,899	$1.30	24d	1	0.51mi
524 Seays Crest Dr Inman, SC	3.0	2.0	1200	$1,450	$1.21	22d	1	0.93mi

Listing history 4 events

1. 2026-06-21
   days on market $259,000 Active 3 DOM
2. 2026-06-19
   pricestatusdays on marketlisting id $259,000 Active 1 DOM
3. 2026-05-15
   status Pending
4. 2026-05-11
   listed $540,000 Active

ⓘ 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: $1,638 · $137/mo
• Projected year-2 tax: $1,638 · $137/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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,738
• − Mortgage interest: −$14,508
• − Property taxes: −$1,638
• − Insurance: −$1,295
• − Repairs & maintenance: −$1,899
• − Management: −$1,899
• − Depreciation: −$7,535
• Taxable loss: −$5,036
• Est. tax savings @ 24.0%: +$1,209
• After-tax cash flow: $730/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 — Boiling Springs

• Score: 78/100
• State rank: #17
• US rank: #2429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• City population: 33,104
• Metro: Spartanburg, SC
• Population (ZIP): 39,083
• Household income: $76,168
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 271.0

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: Predominantly White (80%)
• Race & ethnicity: White 80% Black 9% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Subsaharan African 6% Serbian 3% Scotch-Irish 3%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Russian/Polish/Slavic 7% Spanish 3% Other Asian/Pacific 2%

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: ▼ -113.67%
• Current HPI: 244.0359
• Rent YoY: ▲ 1.79%
• 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

2 events — show timeline

• 2026-05-15 Pending — Greater Greenville MLS
• 2026-05-11 Listed $540,000 Greater Greenville MLS

Property tax history

+3.4%/yr

Latest (2025): $1,638 · +4.9% YoY. Source: county tax records.