703 N Franklin Rd · Sans Souci, SC 29617

$125,000

2 bd · 2.0 ba · 1,446 sqft · SingleFamily public records · 29 Days on market

Built 1963

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Why this score? — see what drove the B- 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 +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property was once Morgan& apos; s Grocery Store, with an attached apartment. This property is listed as is and will need repairs. There is a detached 30x30 garage on the property. Located 1/2 a mile from Cherrydale and less than 3.5 miles to Main Street. I will post additional pictures this week.

Key facts

• Attached apartment
• Detached garage
• Built 1963

Tags

• ATTACHED APARTMENT
• DETACHED GARAGE
• 1/2 A MILE FROM CHERRYDALE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.5% in Sans Souci — 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 74/100 on livability (#30 in SC, #4,635 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime D-, amenities D-.
• 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.
• Market conditions: Rents rising (+1.2%/yr); 170 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/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 $864 of loan paydown is wiped out by about $4k 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

• It's been on market 29 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $312,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 Berkley Ave	0.32mi	3/2.0 (+1)	1,359 (-6%)	4mo	$247,000	$182	67
216 Rodney Ave	0.23mi	3/1.5 (+1)	1,361 (-6%)	8mo	$375,000	$276	66
204 Rogers Ave	0.17mi	3/2.0 (+1)	1,270 (-12%)	4mo	$235,000	$185	64
2409 Poinsett Hwy	0.59mi	3/2.0 (+1)	1,460 (+1%)	4mo	$264,000	$181	62
9 Callahan Ave	0.38mi	3/1.0 (+1)	1,340 (-7%)	1mo	$277,500	$207	60
11 Perry Rd	0.60mi	3/2.0 (+1)	1,531 (+6%)	4mo	$350,000	$229	54
8 N Franklin Rd	0.50mi	3/2.0 (+1)	1,577 (+9%)	7mo	$349,900	$222	51
119 E Decatur St	0.33mi	3/1.0 (+1)	1,270 (-12%)	7mo	$210,000	$165	50
102 Donnybrook Ave	0.64mi	3/1.5 (+1)	1,390 (-4%)	8mo	$300,000	$216	50
52 Montis Dr	0.69mi	3/1.5 (+1)	1,350 (-7%)	1mo	$180,000	$133	49
101 Duke St	0.44mi	3/2.0 (+1)	1,291 (-11%)	10mo	$310,000	$240	48
35 Burgess Ave	0.55mi	3/2.0 (+1)	1,277 (-12%)	4mo	$340,000	$266	46

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 · 1.22% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $974
• Equity at exit: $18,638

10-year hold

• IRR: 8.4%
• Equity multiple: 1.59×
• Total profit: $20,663
• Equity at exit: $10,808

Cash invested: $35,000 (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 29617

• Rents YoY: 1.2%
• Active inventory: 170
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$656
• Tax from tax record: −$204 /mo · $2,444/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $378

Break-even live

Break-even rent $1,154

Max offer price $125,000

Occupancy floor 72%

Sensitivity live

Price	-10% $448	-5% $413	+0% $378	+5% $342	+10% $307
Rent	-10% $249	-5% $313	+0% $378	+5% $442	+10% $506
Rate	-1.0pp $441	-0.5pp $409	base $378	+0.5pp $345	+1.0pp $312

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 E Blue Ridge Dr Greenville, SC	2.0	2.0	1400	$1,950	$1.39	24d	1	0.10mi
1 Callahan Ave Greenville, SC	2.0	1.0	1182	$1,100	$0.93	3d	1	0.33mi
119 Merrilat Ave Greenville, SC	2.0	2.0	1100	$1,595	$1.45	24d	1	0.41mi
206 Von Hollen Dr Greenville, SC	3.0	1.0	1100	$1,549	$1.41	22d	1	0.48mi
221 Church St Greenville, SC	2.0	1.0	900	$1,395	$1.55	4d	1	0.62mi
108 Hillandale Rd Greenville, SC	2.0	1.0	1000	$1,195	$1.20	15d	1	0.72mi
357 Hillandale Rd Greenville, SC	1.0–2.0	1.0	807	$940	$1.16	4d	5	0.82mi
216 Lester Ave Greenville, SC	2.0	1.0	1000	$1,175	$1.18	4d	1	0.95mi
31 Victor St Unit 201 Greenville, SC	2.0	1.0	895	$1,700	$1.90	24d	1	1.10mi
31 Victor St Unit 331 Greenville, SC	2.0	1.0	995	$2,204	$2.22	24d	1	1.10mi
31 Victor St Unit 339 Greenville, SC	2.0	1.0	975	$1,853	$1.90	24d	1	1.10mi
110 Worley Rd Greenville, SC	3.0	2.0	1100	$1,595	$1.45	24d	1	1.21mi
9 Gilreath St Greenville, SC	3.0	2.0	1244	$1,495	$1.20	22d	1	1.26mi
215 Duncan Chapel Rd Greenville, SC	2.0–3.0	2.5	1450	$1,295	$0.89	4d	3	1.37mi
113 Bankside Ln Greenville, SC	3.0	2.5	1550	$1,780	$1.15	24d	1	1.44mi
4 Hall Rd Greenville, SC	3.0	2.0	1100	$1,700	$1.55	15d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $125,000 Active 29 DOM
2. 2026-06-17
   days on market $125,000 Active 28 DOM
3. 2026-06-16
   days on market $125,000 Active 27 DOM
4. 2026-06-15
   days on market $125,000 Active 26 DOM
5. 2026-06-13
   days on market $125,000 Active 24 DOM
6. 2026-06-13
   days on market $125,000 Active 23 DOM
7. 2026-06-10
   days on market $125,000 Active 21 DOM
8. 2026-06-09
   days on market $125,000 Active 20 DOM
9. 2026-06-08
   days on market $125,000 Active 19 DOM
10. 2026-06-07
    days on market $125,000 Active 18 DOM
11. 2026-06-03
    days on market $125,000 Active 14 DOM
12. 2026-06-03
    days on market $125,000 Active 13 DOM
13. 2026-06-01
    days on market $125,000 Active 12 DOM
14. 2026-05-31
    days on market $125,000 Active 11 DOM
15. 2026-05-21
    listed $125,000 Active
16. 2006-10-05
    historical
17. 2006-07-15
    listed $104,500

ⓘ 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: $2,444 · $204/mo
• Projected year-2 tax: $2,444 · $204/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 5/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $19,577
• − Mortgage interest: −$7,002
• − Property taxes: −$2,444
• − Insurance: −$625
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$3,636
• Taxable income: $2,737
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $3,874/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 — Sans Souci

• Score: 74/100
• State rank: #30
• US rank: #4635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sans Souci, SC
• County: Greenville County · 573,815 people
• Metro: Greenville-Anderson, SC
• Population (ZIP): 26,582
• Household income: $55,403
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 1209.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 13% Two or more races 10% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 17% · Canada, Jamaica, Guatemala
• Languages at home: 74% English-only · Spanish 23% Other Indo-European 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: ▼ -194.04%
• Current HPI: 238.8343
• Rent YoY: ▲ 1.22%
• 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

+19.6% since first listed

3 events — show timeline

• 2026-05-21 Listed $125,000 FSBO.com
• 2006-10-05 Listing Removed — Greater Greenville MLS
• 2006-07-15 Listed $104,500 Greater Greenville MLS

Property tax history

+1.0%/yr

Latest (2025): $2,444 · +3.6% YoY. Source: county tax records.