224 Riverrun Dr · Valley Falls, SC 29303

$299,900

4 bd · 3.0 ba · 2,147 sqft · SingleFamily public records · 78 Days on market

Built 2001 7,840 sqft lot Est $292k · at est. $13/mo HOA · 1% of rent

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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 +13.4/30.0
• ARV discount +6.3/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great family home in River Run with 3 bedrooms, 3 baths, bonus room, formal dining room, fenced yard, pool and motivated seller.

Key facts

• Large deck
• Flex room
• 7,840 sq ft lot

Tags

• PRIMARY BEDROOM ON MAIN LEVEL
• 2ND BEDROOM WITH FULL BATH
• FLEX ROOM
• LARGE DECK
• PRIVACY FENCED-IN BACK YARD
• RAISED CEILINGS IN GARAGE

Property features AI

Finance

• Other: Lot located on a cul-de-sac with fenced yard, mostly level to gently sloped terrain with some trees; Lot size is 1/2 acre or less; Bonus/rec room (approx. 34 x 7)
• HOA & community: Property is part of a homeowners association; HOA maintains street lights; Community has lighting

Exterior

• Parking: Attached 2-car garage; Paved concrete driveway
• Utilities: Public water; Public sewer; Private garbage pickup; Underground utilities on lot
• Home design: Two-story residential home; Built in 2001; Crawl space foundation; Storage in attic and garage
• Construction: Architectural roof
• Exterior features: Deck; Tilt-out windows; Partially brick veneer and vinyl siding

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator; Electric oven; Electric range; Built-in microwave
• Bedrooms: Primary bedroom on main level with double sink, full bath, separate shower, jetted tub, walk-in closet and multiple closets (master approx. 16 x 12); Second bedroom approx. 12 x 12; Third bedroom approx. 12 x 14; Fourth bedroom approx. 14 x 13
• Flooring: Carpet; Ceramic tile; Luxury vinyl tile/plank
• Bathrooms: Three full bathrooms total, two full baths on the main level
• Heating & cooling: Electric forced air heating; Central forced electric cooling; Electric water heater
• Interior features: Attic stairs (disappearing); Ceiling fans; Smooth ceilings; Solid surface countertops; Garden tub
• Laundry & utility: First-floor laundry in closet-style space; Washer connection with multiple hookups; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $7 ($84/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 $230k (23.2% below list).
• Recommended offer: $230k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Shoally Creek Elementary (math 60% / reading 59%, grade B-, #90 of 597 statewide, top 15%, 670 students, 80% 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 70% FRL vs 44% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 380 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• At $2,303/mo this rent would consume 57% of the median local household income ($48k/yr) (locally 1218% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 78 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $132k; list at $300k implies a 127% gain — meaningful room to come down on a strong offer.

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 $230,348 (23.2% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $291,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 N Hill Dr	0.44mi	4/3.0	2,099 (-2%)	5mo	$319,000	$152	72
308 Bentley Ct	0.22mi	3/2.5 (-1)	2,196 (+2%)	9mo	$300,000	$137	71
2323 Springview Ct	0.65mi	4/2.5	2,174 (+1%)	10mo	$299,900	$138	57
2239 Springview Ct	0.73mi	4/2.5	2,174 (+1%)	7mo	$288,900	$133	56
2248 Springview Ct	0.74mi	4/2.5	2,174 (+1%)	9mo	$289,900	$133	54
125 N River Hills Dr	0.47mi	3/3.0 (-1)	2,316 (+8%)	10mo	$293,000	$127	51
404 Shamrock Dr Dr	0.72mi	4/3.0	2,399 (+12%)	0mo	$355,000	$148	47
2235 Springview Ct	0.74mi	4/2.5	1,927 (-10%)	8mo	$297,000	$154	40
2252 Springview Ct	0.67mi	5/3.0 (+1)	2,361 (+10%)	10mo	$320,000	$136	39
2243 Springview Ct	0.73mi	5/3.0 (+1)	2,368 (+10%)	9mo	$311,900	$132	37
2255 Springview Ct Lot 0009	0.71mi	5/3.0 (+1)	2,368 (+10%)	11mo	$317,900	$134	36
2252 Springview Ct Lot 0541	0.74mi	5/3.0 (+1)	2,368 (+10%)	10mo	$320,000	$135	35

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 · 3.69% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.44×
• Total profit: $-46,667
• Equity at exit: $44,716

10-year hold

• IRR: -6.1%
• Equity multiple: 0.60×
• Total profit: $-33,871
• Equity at exit: $25,930

Cash invested: $83,972 (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 29303

• Home prices YoY: -14.1%
• Rents YoY: 3.7%
• Active inventory: 380
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,303 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$125
• HOA: −$13
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $7

Break-even live

Break-even rent $2,295

Max offer price $299,900

Occupancy floor 95%

Sensitivity live

Price	-10% $177	-5% $92	+0% $7	+5% $-78	+10% $-163
Rent	-10% $-175	-5% $-84	+0% $7	+5% $98	+10% $189
Rate	-1.0pp $158	-0.5pp $83	base $7	+0.5pp $-71	+1.0pp $-150

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
246 Lynhaven Dr Spartanburg, SC	4.0	3.0	1892	$2,750	$1.45	23d	1	0.15mi
1004 Blanton Pl Spartanburg, SC	3.0	2.0	1608	$1,725	$1.07	16d	1	0.59mi
409 Shamrock Dr Boiling Springs, SC	3.0	3.0	1571	$1,756	$1.12	16d	1	0.76mi
4028 Cedar Falls Ln Spartanburg, SC	3.0	2.0	1404	$1,645	$1.17	16d	1	0.80mi
207 Wild Fern Dr Boiling Springs, SC	2.0–3.0	2.5	1618	$1,808	$1.12	16d	7	1.25mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: pool

Listing history 25 events

1. 2026-06-21
   days on market $299,900 Active 78 DOM
2. 2026-06-18
   days on market $299,900 Active 75 DOM
3. 2026-06-17
   days on market $299,900 Active 74 DOM
4. 2026-06-16
   days on market $299,900 Active 73 DOM
5. 2026-06-15
   days on market $299,900 Active 72 DOM
6. 2026-06-14
   days on market $299,900 Active 70 DOM
7. 2026-06-13
   days on market $299,900 Active 69 DOM
8. 2026-06-10
   days on market $299,900 Active 67 DOM
9. 2026-06-09
   days on market $299,900 Active 66 DOM
10. 2026-06-08
    days on market $299,900 Active 65 DOM
11. 2026-06-07
    days on market $299,900 Active 64 DOM
12. 2026-06-05
    days on market $299,900 Active 61 DOM
13. 2026-06-02
    days on market $299,900 Active 59 DOM
14. 2026-06-01
    days on market $299,900 Active 58 DOM
15. 2026-05-31
    days on market $299,900 Active 57 DOM
16. 2026-05-30
    days on market $299,900 Active 56 DOM
17. 2026-04-04
    listed $314,900 Active
18. 2015-12-31
    soldstatus $132,000
19. 2015-12-15
    soldstatus $132,000 128-char remark

    Show marketing remark (128 chars)

    Great family home in River Run with 3 bedrooms, 3 baths, bonus room, formal dining room, fenced yard, pool and motivated seller.

20. 2015-08-25
    listed $134,900 128-char remark

    Show marketing remark (128 chars)

    Great family home in River Run with 3 bedrooms, 3 baths, bonus room, formal dining room, fenced yard, pool and motivated seller.

21. 2006-08-31
    soldstatus $125,000
22. 2006-08-04
    historical
23. 2006-05-04
    listed $134,900
24. 2006-05-04
    listed $134,900
25. 2001-08-01
    soldstatus $150,000

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $1,709 · $142/mo
• Expected delta: +$484/yr (+$40/mo · 39.5%)

ⓘ 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 100% 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: $27,642
• − Mortgage interest: −$16,799
• − Property taxes: −$1,225
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − HOA: −$156
• − Depreciation: −$8,724
• Taxable loss: −$5,185
• Est. tax savings @ 24.0%: +$1,244
• After-tax cash flow: $1,328/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): 28,381
• Household income: $48,295
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1218.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 42% Black 36% Hispanic / Latino 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Subsaharan African 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 2% Other Asian/Pacific 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: ▼ -45.19%
• Current HPI: 274.443
• Rent YoY: ▲ 3.69%
• 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

+109.9% since first listed

9 events — show timeline

• 2026-04-04 Listed $314,900 Greater Greenville MLS
• 2015-12-31 Sold (Public Records) $132,000 Public Records
• 2015-12-15 Sold (MLS) $132,000 SPMLS
• 2015-08-25 Listed $134,900 SPMLS
• 2006-08-31 Sold (MLS) $125,000 SPMLS
• 2006-08-04 Listing Removed — Greater Greenville MLS
• 2006-05-04 Listed $134,900 Greater Greenville MLS
• 2006-05-04 Listed $134,900 SPMLS
• 2001-08-01 Sold (Public Records) $150,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,225 · +0.8% YoY. Source: county tax records.