2 3rd St · Inman Mills, SC 29349

$99,000

2 bd · 1.0 ba · 944 sqft · SingleFamily public records · 30 Days on market

Built 1922 0.30 ac lot Est $157k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity in the heart of Inman, super close to downtown and just steps from the Inman Mills Lofts area. This 2 bedroom, 1 bathroom home offers strong potential for investors or buyers looking to renovate and add value. The property is clean and livable but ready for updates and remodeling to maximize its full potential. A major improvement has already been completed with a new roof installed in 2024, giving you a great head start on your project. Cash or conventional financing only. Property will not qualify for FHA, VA, or USDA financing. Ideal for a fix and flip, rental property, or long term investment in a growing and highly desirable location. Seller's spouse is a real es

Key facts

• Heart of inman
• New roof installed
• 0.3 acre lot

Tags

• INVESTMENT OPPORTUNITY
• HEART OF INMAN
• STEPS FROM INMAN MILLS LOFTS
• NEW ROOF INSTALLED

Property features AI

Finance

• Other: Property listed as residential single-family

Exterior

• Parking: On-street parking; Driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Shingle siding; Slab foundation; Built above grade (finished area provided)
• Exterior features: Porch; Outbuilding; Corner lot; Level lot; Wooded lot

Interior

• Kitchen: Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating listed; Ceiling fan(s); Window air unit(s); Electric cooling
• Interior features: Ceiling fan(s); Electric water heater; Refrigerator
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 4.5% in Inman Mills — 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 59/100 on livability (#237 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D+, employment D, crime F.
• Spartanburg 01 (rural): math 44% / reading 53% proficiency, ranked #14 of 80 in SC (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Inman Elementary (math 57% / reading 47%, grade C-, #145 of 597 statewide, top 26%, 615 students, 100% FRL); T.E. Mabry Middle (math 31% / reading 43%, grade F, #97 of 229 statewide, top 42%, 444 students, 73% FRL); Chapman High (math 42% / reading 88%, grade B, #85 of 196 statewide, top 45%, 1,046 students, 59% FRL) — zoned schools average 77% FRL vs 45% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 703 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• 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 $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — 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 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?
4. Crime grade is F 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: 1.50% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.58%
• DSCR: 1.83
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $156,704
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 2nd St	0.14mi	2/2.0	944 (0%)	6mo	$204,900	$217	85
16 2nd St	0.13mi	2/1.0	944 (0%)	16mo	$196,500	$208	80
408 4 th St	0.18mi	2/1.0	992 (+5%)	11mo	$165,000	$166	74
24 1st St	0.18mi	2/1.0	1,024 (+8%)	8mo	$170,000	$166	71
20 E St	0.36mi	2/1.0	912 (-3%)	11mo	$145,000	$159	69
15 H St	0.39mi	2/1.0	1,030 (+9%)	1mo	$194,900	$189	66
15 3rd St	0.14mi	2/1.0	1,021 (+8%)	17mo	$155,000	$152	66
591 Cothran Creek Rd	0.50mi	2/1.0	996 (+6%)	13mo	$139,900	$140	57
10 G	0.32mi	2/2.0	1,056 (+12%)	10mo	$165,000	$156	53
54 Lyman Rd	0.55mi	2/1.0	859 (-9%)	8mo	$49,000	$57	53
83 Blackstock Rd	0.72mi	2/1.0	867 (-8%)	6mo	$187,000	$216	48
60 N Humphrey St	0.70mi	2/1.0	824 (-13%)	11mo	$154,000	$187	37

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $9,564
• Equity at exit: $14,761

10-year hold

• IRR: 17.0%
• Equity multiple: 2.32×
• Total profit: $36,616
• Equity at exit: $8,560

Cash invested: $27,720 (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: 703
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,482 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$182 /mo · $2,178/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $429

Break-even live

Break-even rent $939

Max offer price $99,000

Occupancy floor 66%

Sensitivity live

Price	-10% $485	-5% $457	+0% $429	+5% $401	+10% $373
Rent	-10% $312	-5% $371	+0% $429	+5% $488	+10% $546
Rate	-1.0pp $479	-0.5pp $454	base $429	+0.5pp $403	+1.0pp $377

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 4th St Inman, SC	1.0–3.0	1.0–2.0	1356	$1,482	$1.09	5d	12	0.15mi
400 Timberlake View Cir Inman, SC	2.0–3.0	2.0	1050	$1,040	$0.99	21d	1	0.81mi
3 Pine Ln Inman, SC	2.0	1.0	864	$1,300	$1.50	13d	1	1.08mi

Listing history 5 events

1. 2026-04-29
   status Active
2. 2026-04-29
   price $99,000
3. 2026-04-14
   status Pending
4. 2026-04-14
   listed $115,000 Active
5. 2024-07-19
   soldstatus $90,000

ⓘ 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: $2,178 · $182/mo
• Projected year-2 tax: $2,178 · $182/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 ≥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 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,788
• − Mortgage interest: −$5,546
• − Property taxes: −$2,178
• − Insurance: −$495
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − Depreciation: −$2,880
• Taxable income: $3,844
• Est. tax owed @ 24.0%: −$922
• After-tax cash flow: $4,227/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 01
• NCES district ID: 4503480
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $44,612
• Composite: 41.0/100
• National rank: #3590
• State rank: #14 of 80 in SC

Livability — Inman Mills

• Score: 59/100
• State rank: #237
• US rank: #19819

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inman Mills, SC
• County: Spartanburg County · 258,607 people
• 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

+10.0% since first listed

5 events — show timeline

• 2026-04-29 Relisted — SPMLS
• 2026-04-29 Price Changed $99,000 SPMLS
• 2026-04-14 Pending — SPMLS
• 2026-04-14 Listed $115,000 SPMLS
• 2024-07-19 Sold (Public Records) $90,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $2,178 · +784.3% YoY. Source: county tax records.