1014 E Oneal St · Gaffney, SC 29340

$85,000

2 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 177 Days on market

Built 1940 1.00 ac lot ↓ 14% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

GAFFNEY COTTAGE ON 1 ACRE! Rare opportunity to own a full acre with exceptional potential. This 2BR/1BA home is centrally located near schools and I-85, making it a perfect candidate for a renovation project or an addition to your rental portfolio. The property boasts a spacious, level yard with room for gardening, expansion, or workshops. Skip the cookie-cutter neighborhoods and create something unique on this generous piece of land. Sold as-is, this home is a blank slate ready for your creative touch. Value-add properties at this price point don't last—schedule your showing today!

Key facts

• Sizable yard
• Close to i-85
• Close to dining

Tags

• 1 ACRE PROPERTY
• SIZABLE YARD
• CONVENIENT LOCATION
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO I-85

Property features AI

Exterior

• Utilities: Septic tank for sewer
• Home design: Single-family residence; Residential property
• Construction: Above-grade finished area approximately 1,140
• Exterior features: Lot dimensions approximately 114 x 269 x 100 x 305

Interior

• Bathrooms: 1 full bathroom
• Interior features: One-level living

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 2.6% in Gaffney — 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 66/100 on livability (#112 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, crime D, commute F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Limestone-Central Elementary (math 27% / reading 32%, grade F, #399 of 597 statewide, top 69%, 490 students, 100% FRL); John E. Ewing Middle (math 18% / reading 30%, grade F, #167 of 229 statewide, top 74%, 486 students, 100% FRL); Gaffney High (math 40% / reading 75%, grade C, #116 of 196 statewide, top 59%, 1,838 students, 84% FRL) — zoned schools average 95% FRL vs 64% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-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. 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?
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: 1.24% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.39%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $207,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Wilkinsville Hwy	0.32mi	3/2.0 (+1)	1,120 (-2%)	2mo	$223,000	$199	72
108 N Sparks Street St	0.22mi	3/2.0 (+1)	1,100 (-4%)	10mo	$199,900	$182	67
516 Stephenson St	0.22mi	3/1.0 (+1)	1,248 (+10%)	8mo	$188,900	$151	63
2068 Union Hwy Hwy	0.27mi	3/2.0 (+1)	1,238 (+9%)	2mo	$100,000	$81	62
715 Union St St	0.72mi	2/1.0	1,050 (-8%)	2mo	$145,000	$138	51
326 Hetty Hill St St	0.53mi	3/1.0 (+1)	1,091 (-4%)	16mo	$81,500	$75	50
147 Stagecoach Rd Rd	0.68mi	3/1.0 (+1)	1,092 (-4%)	14mo	$156,000	$143	45
310 Eden Dr	0.56mi	3/2.0 (+1)	1,300 (+14%)	5mo	$249,900	$192	38
116 Anthony St	0.75mi	3/1.0 (+1)	992 (-13%)	3mo	$155,000	$156	36
129 Worthmore Dr	0.70mi	3/2.0 (+1)	1,259 (+10%)	9mo	$244,900	$195	34
101 Worthmore Dr	0.67mi	3/2.0 (+1)	1,234 (+8%)	16mo	$233,900	$190	33
117 Worthmore Dr	0.66mi	3/2.0 (+1)	1,276 (+12%)	15mo	$239,900	$188	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.29×
• Total profit: $6,901
• Equity at exit: $12,674

10-year hold

• IRR: 16.7%
• Equity multiple: 2.37×
• Total profit: $32,536
• Equity at exit: $7,349

Cash invested: $23,800 (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 29340

• Home prices YoY: -29.7%
• Active inventory: 158
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$25 /mo · $299/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $325

Break-even live

Break-even rent $641

Max offer price $85,000

Occupancy floor 64%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 Goldmine Springs Rd Gaffney, SC	2.0	1.0	730	$1,099	$1.51	24d	1	1.44mi

Listing history 10 events

1. 2026-06-02
   days on market $85,000 Active 177 DOM
2. 2026-06-01
   days on market $85,000 Active 176 DOM
3. 2026-05-31
   days on market $85,000 Active 175 DOM
4. 2026-05-30
   days on market $85,000 Active 174 DOM
5. 2026-03-29
   price $85,000
6. 2026-03-06
   price $90,000
7. 2026-01-30
   price $95,000
8. 2026-01-10
   status Active
9. 2026-01-06
   status Pending
10. 2025-12-04
    listed $99,000 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: $299 · $25/mo
• Projected year-2 tax: $484 · $40/mo
• Expected delta: +$185/yr (+$15/mo · 61.9%)

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,627
• − Mortgage interest: −$4,761
• − Property taxes: −$299
• − Insurance: −$425
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$2,473
• Taxable income: $2,648
• Est. tax owed @ 24.0%: −$636
• After-tax cash flow: $3,266/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: Cherokee 01
• NCES district ID: 4501500
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $34,262
• Composite: 28.39/100
• National rank: #6768
• State rank: #47 of 80 in SC

Livability — Gaffney

• Score: 66/100
• State rank: #112
• US rank: #11549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cherokee County · 41,410 people
• City population: 41,410
• Metro: Gaffney, SC
• Population (ZIP): 20,763
• Household income: $44,123
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 257.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 58,602 people
• By 2030: 59,336 · +1.3%
• By 2040: 60,266 · +2.8%
• By 2050: 60,314 · +2.9%
• By 2075: 59,276 · +1.2%
• By 2100: 53,788 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -29.3pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+43.8 2016: R+41.7 2012: R+29.3 2008: R+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.24%
• Current HPI: 201.4272
• Rent YoY: —
• Metro: Gaffney, 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

-14.1% since first listed

6 events — show timeline

• 2026-03-29 Price Changed $85,000 SPMLS
• 2026-03-06 Price Changed $90,000 SPMLS
• 2026-01-30 Price Changed $95,000 SPMLS
• 2026-01-10 Relisted — SPMLS
• 2026-01-06 Pending — SPMLS
• 2025-12-04 Listed $99,000 SPMLS

Property tax history

+3.9%/yr

Latest (2025): $299 · +16.5% YoY. Source: county tax records.