39 Heritage Oak Way · Simpsonville, SC 29681

$289,900

3 bd · 3.0 ba · 2,440 sqft · Townhouse public records · 9 Days on market

Built 2006 1,742 sqft lot $145/mo HOA · 6% 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 +10.8/30.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +3.5/5.0
• DSCR +3.1/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * OPEN HOUSE SUNDAY JUNE 2 FROM 2-4 PM: SNACKS AND GIFT CARD GIVEAWAYS!!! * * * Welcome to Oak Park in downtown Simpsonville. From this home it's a quick half mile walk to the Ice Cream Station, Vaughn's Food Hall, the Slice (with its new rooftop) and more! With easy access to I-385, you're only 15 minutes from downtown Greenville. This charming 3-story townhome features 3 beds and 2.5 baths with beautiful hardwoods throughout. The first floor features a spacious multi-purpose guest bedroom, office or entertainment room that leads out to a private fully-fenced and turfed back yard. Up on the second floor, the main living area offers an open concept dining and living room that leads out to a spacious deck surrounded by lush trees. Sitting out in the morning or evening, you'll feel privacy like no other townhome in the area. The kitchen boasts oak cabinets and granite countertops with an island. On the third floor, you'll find the laundry room, the primary bedroom complete with private bathroom and a gorgeous double vanity, and the third bedroom with its own private bathroom as well. This home is spacious, full of natural light, no carpet, and is a smoke and pet-free home.

Key facts

• Semi-private deck
• 3 story townhouse
• Kitchen pass through

Tags

• 3 STORY TOWNHOUSE
• OPEN-CONCEPT LIVING
• KITCHEN PASS THROUGH
• GRANITE COUNTERTOPS
• WATER FILTRATION SYSTEM
• SEMI-PRIVATE DECK

Property features AI

Finance

• Other: Lot on a cul-de-sac with fenced yard, level terrain, sidewalk access, some trees, and underground utilities; Lot is 1/2 acre or less; Community features include lighting, some sidewalks, and pet-friendly policies
• HOA & community: Homeowners association present; HOA covers common area insurance and electricity, lawn maintenance, street lights, parking, and enforces bylaws and restrictive covenants

Exterior

• Parking: Attached 1-car garage; Driveway parking (paved)
• Utilities: Public water; Gas water heater; Public sewer; Public garbage pickup; Attached garage (power referenced with utilities)
• Home design: Residential property; Three or more stories; Built in 2006; Attic and garage storage; Slab foundation
• Construction: Architectural roof
• Exterior features: Deck; Patio; Tilt-out windows; Vinyl/aluminum trim; Vinyl siding

Interior

• Kitchen: Dishwasher; Garbage disposal; Self-cleaning oven; Refrigerator; Electric oven / range; Built-in microwave
• Bedrooms: Main level bedroom: 1; Primary bedroom with double sink, full bath, tub/shower, and walk-in closet; Master bedroom approximately 11 x 17; Second bedroom approximately 14 x 15; Third bedroom approximately 19 x 15
• Flooring: Ceramic tile; Hardwood
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central forced cooling (electric)
• Interior features: Built-in bookcase; Cable available; 9-foot (or higher) ceilings; Ceiling fans; Smooth ceilings; Granite countertops; Open floor plan; Smoke detector; Walk-in closet; Dual master bedrooms; Pantry closet; Water purification system
• Laundry & utility: Closet-style laundry; Washer connection; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $290k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (21.0% below list).
• Recommended offer: $229k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.9% in Simpsonville — 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 87/100 on livability (#1 in SC, #295 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Simpsonville Elementary (math 52% / reading 52%, grade C-, #145 of 597 statewide, top 26%, 744 students, 71% FRL) — zoned schools average 71% FRL vs 42% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 523 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).

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.
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 18y 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 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $229,098 (21.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.79% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.35×
• Total profit: $-52,777
• Equity at exit: $43,225

10-year hold

• IRR: -8.7%
• Equity multiple: 0.43×
• Total profit: $-46,053
• Equity at exit: $25,065

Cash invested: $81,172 (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 29681

• Rents YoY: 4.1%
• Active inventory: 523
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,291 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$155 /mo · $1,857/yr
• Insurance: −$121
• HOA: −$145
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-131

Break-even live

Break-even rent $2,457

Max offer price $266,777

Occupancy floor —

Sensitivity live

Price	-10% $33	-5% $-49	+0% $-131	+5% $-213	+10% $-295
Rent	-10% $-312	-5% $-221	+0% $-131	+5% $-40	+10% $50
Rate	-1.0pp $15	-0.5pp $-57	base $-131	+0.5pp $-206	+1.0pp $-282

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Edwards St Simpsonville, SC	4.0	4.0	1800	$1,850	$1.03	15d	1	0.31mi
125 Wilbon Cir Simpsonville, SC	4.0	3.0	2950	$3,500	$1.19	15d	1	0.77mi
202 Newgate Dr Simpsonville, SC	4.0	2.0	1656	$1,795	$1.08	15d	1	1.09mi
7001 Wiley Dr Simpsonville, SC	1.0–3.0	1.0–2.0	1517	$2,100	$1.38	4d	39	1.33mi

HOA detail

• Monthly dues: $145 · $1,740/yr

Listing history 8 events

1. 2026-06-18
   days on market $289,900 Active 9 DOM
2. 2026-06-17
   days on market $289,900 Active 8 DOM
3. 2026-06-16
   days on market $289,900 Active 7 DOM
4. 2026-06-15
   days on market $289,900 Active 6 DOM
5. 2026-06-13
   days on market $289,900 Active 4 DOM
6. 2026-06-13
   days on market $289,900 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $289,900 Active 1 DOM

ⓘ 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: $1,857 · $155/mo
• Projected year-2 tax: $1,857 · $155/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°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: $27,492
• − Mortgage interest: −$16,239
• − Property taxes: −$1,857
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,199
• − Management: −$2,199
• − HOA: −$1,740
• − Depreciation: −$8,433
• Taxable loss: −$6,625
• Est. tax savings @ 24.0%: +$1,590
• After-tax cash flow: $19/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Simpsonville

• Score: 87/100
• State rank: #1
• US rank: #295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Simpsonville, SC
• County: Greenville County · 573,815 people
• City population: 104,420
• Metro: Greenville-Anderson, SC
• Population (ZIP): 68,650
• Household income: $114,986
• Rent vs Own: 15.4% rent · 84.6% own
• Severe rent burden: 865.0

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 3% Slovak 3%
• Foreign-born: 8% · Canada, Jamaica, South Korea
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Greenville

• 2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
• 2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.64%
• Current HPI: 226.5252
• Rent YoY: ▲ 4.09%
• Metro: Greenville-Anderson, 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

+133.8% since first listed

46 events — show timeline

• 2026-06-09 Listed $289,900 Greater Greenville MLS
• 2024-07-25 Sold (Public Records) $269,900 Public Records
• 2024-07-19 Sold (MLS) $269,900 SPMLS
• 2024-07-19 Sold (MLS) $269,900 Greater Greenville MLS
• 2024-07-19 Sold (MLS) $269,900 WUMLS
• 2024-06-15 Pending — WUMLS
• 2024-06-15 Pending — SPMLS
• 2024-06-15 Contingent — Greater Greenville MLS
• 2024-06-09 Price Changed $269,900 Greater Greenville MLS
• 2024-06-09 Price Changed $269,900 SPMLS
• 2024-05-30 Price Changed $279,900 Greater Greenville MLS
• 2024-05-30 Price Changed $279,900 SPMLS
• 2024-05-30 Price Changed $279,900 WUMLS
• 2024-05-19 Price Changed $285,000 SPMLS
• 2024-05-19 Price Changed $285,000 WUMLS
• 2024-05-18 Listed $289,500 SPMLS
• 2024-05-18 Listed $285,000 Greater Greenville MLS
• 2024-05-18 Listed $285,000 WUMLS
• 2024-05-17 Delisted — SPMLS
• 2024-05-16 Listing Removed — Greater Greenville MLS
• 2024-05-16 Listing Removed — WUMLS
• 2024-03-26 Listed $289,500 WUMLS
• 2024-03-25 Listed $289,500 Greater Greenville MLS
• 2024-03-25 Listed $289,500 SPMLS
• 2020-05-15 Sold (Public Records) $179,900 Public Records
• 2020-05-15 Sold (MLS) $179,900 Greater Greenville MLS
• 2020-04-30 Contingent — Greater Greenville MLS
• 2020-04-20 Listed $179,900 Greater Greenville MLS
• 2018-10-29 Sold (Public Records) $163,000 Public Records
• 2018-10-19 Sold (MLS) $163,000 Greater Greenville MLS
• 2018-09-27 Contingent — Greater Greenville MLS
• 2018-07-14 Price Changed $169,900 Greater Greenville MLS
• 2018-07-11 Price Changed $169,500 Greater Greenville MLS
• 2018-04-27 Listed $171,500 Greater Greenville MLS
• 2018-04-21 Listing Removed — Greater Greenville MLS
• 2018-03-20 Listed $171,500 Greater Greenville MLS
• 2017-02-21 Listing Removed — Greater Greenville MLS
• 2017-01-31 Listed $175,000 Greater Greenville MLS
• 2015-01-14 Sold (Public Records) $144,000 Public Records
• 2015-01-09 Sold (MLS) $144,000 Greater Greenville MLS
• 2014-12-11 Listed — Greater Greenville MLS
• 2011-01-02 Listing Removed — Greater Greenville MLS
• 2010-07-01 Listed $159,000 Greater Greenville MLS
• 2009-03-27 Listing Removed — Greater Greenville MLS
• 2008-09-26 Listed $164,900 Greater Greenville MLS
• 2006-07-12 Sold (Public Records) $124,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,857 · +29.5% YoY. Source: county tax records.