152 Washington Rd · Cowpens, SC 29330

$169,900

3 bd · 1.0 ba · 1,035 sqft · SingleFamily public records · 13 Days on market

Built 1978 0.80 ac lot Est $168k · at est.

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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 +14.2/30.0
• ARV discount +6.9/15.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CASH BUYERS (or portfolio loan) ONLY! Great 2 BDRM, 1 full bath, brick, 1035 square foot home in convenient location. Large . 08 acre lot with shed. Home does not have heat or an oven/range, hence most loans are not possible. The home has great flow, is partially upgraded, has a walk in pantry and laundry room. Home was part of the church (164 Washington Rd. ) next door. Buy one property or both together. The church has several acres and is available also separately. Close to downtown Cowpens and near Spartanburg. Buyer agent to verify square footage. Owners selling 'as is'. Check out this deal now!

Key facts

• 0.8 acre lot
• Built 1978
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $27 ($320/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 $152k (10.5% below list).
• Recommended offer: $152k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Cowpens — 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 61/100 on livability (#213 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Spartanburg 03 (suburban): math 39% / reading 49% proficiency, ranked #28 of 80 in SC (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cowpens Elementary (math 57% / reading 52%, grade C, #123 of 597 statewide, top 22%, 461 students, 100% FRL); Clifdale Middle (695 students, 78% FRL); Broome High (math 42% / reading 80%, grade C+, #105 of 196 statewide, top 54%, 825 students, 68% FRL) — zoned schools average 82% FRL vs 57% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 58% at this address vs 44% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Spartanburg 03 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 68 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $105k; list at $170k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,997 (10.5% below list)

Questions for the listing agent

1. Built in 1978 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $167,670
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
152 Washington Rd	0.00mi	2/1.0 (-1)	1,035 (0%)	0mo	$168,000	$162	95
126 Washington Rd	0.13mi	2/1.0 (-1)	1,004 (-3%)	6mo	$142,000	$141	79
107 Marion St	0.20mi	2/1.5 (-1)	1,060 (+2%)	4mo	$160,000	$151	76
185 Washington Rd	0.19mi	3/2.0	1,080 (+4%)	12mo	$206,500	$191	70
123 Washington Rd	0.14mi	2/2.0 (-1)	1,100 (+6%)	9mo	$132,000	$120	66
4963 S Main St	0.41mi	2/1.0 (-1)	1,008 (-3%)	6mo	$125,000	$124	66
125 S Linda St	0.62mi	2/1.0 (-1)	1,020 (-1%)	3mo	$162,500	$159	61
110 Washington Ct	0.20mi	4/1.5 (+1)	1,186 (+15%)	2mo	$181,500	$153	57
143 Greenway Dr	0.40mi	2/1.0 (-1)	980 (-5%)	14mo	$219,000	$223	56
363 W Church St	0.52mi	2/2.0 (-1)	1,061 (+2%)	12mo	$210,000	$198	53
209 Brimfield Dr	0.58mi	3/2.0	1,137 (+10%)	12mo	$247,000	$217	42
132 S Linda St	0.59mi	2/1.0 (-1)	896 (-13%)	10mo	$165,000	$184	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-25,812
• Equity at exit: $25,333

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-20,199
• Equity at exit: $14,690

Cash invested: $47,572 (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 29330

• Home prices YoY: -9.2%
• Active inventory: 68
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,520 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $27

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 93%

Sensitivity live

Price	-10% $144	-5% $85	+0% $27	+5% $-32	+10% $-91
Rent	-10% $-93	-5% $-33	+0% $27	+5% $87	+10% $147
Rate	-1.0pp $112	-0.5pp $70	base $27	+0.5pp $-17	+1.0pp $-62

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5365 N Main St Apt 202 Cowpens, SC	2.0	2.0	810	$1,540	$1.90	23d	1	0.63mi
115 Anile St Unit B Cowpens, SC	2.0	2.0	1050	$1,495	$1.42	15d	1	0.99mi

Listing history 14 events

1. 2026-04-14
   status Pending
2. 2026-04-01
   listed $169,900 Active
3. 2026-02-20
   status Pending
4. 2026-02-05
   price $169,900
5. 2026-01-27
   status Active
6. 2026-01-27
   historical
7. 2026-01-12
   price $174,900
8. 2025-12-01
   price $179,900
9. 2025-11-13
   listed $189,900 Active
10. 2025-10-14
    soldstatus $105,000 Closed 606-char remark

    Show marketing remark (606 chars)

    CASH BUYERS (or portfolio loan) ONLY! Great 2 BDRM, 1 full bath, brick, 1035 square foot home in convenient location. Large . 08 acre lot with shed. Home does not have heat or an oven/range, hence most loans are not possible. The home has great flow, is partially upgraded, has a walk in pantry and laundry room. Home was part of the church (164 Washington Rd. ) next door. Buy one property or both together. The church has several acres and is available also separately. Close to downtown Cowpens and near Spartanburg. Buyer agent to verify square footage. Owners selling 'as is'. Check out this deal now!

11. 2025-10-14
    soldstatus $105,000

    Show marketing remark (606 chars)

    CASH BUYERS (or portfolio loan) ONLY! Great 2 BDRM, 1 full bath, brick, 1035 square foot home in convenient location. Large . 08 acre lot with shed. Home does not have heat or an oven/range, hence most loans are not possible. The home has great flow, is partially upgraded, has a walk in pantry and laundry room. Home was part of the church (164 Washington Rd. ) next door. Buy one property or both together. The church has several acres and is available also separately. Close to downtown Cowpens and near Spartanburg. Buyer agent to verify square footage. Owners selling 'as is'. Check out this deal now!

12. 2025-09-26
    status Pending 606-char remark

    Show marketing remark (606 chars)

    CASH BUYERS (or portfolio loan) ONLY! Great 2 BDRM, 1 full bath, brick, 1035 square foot home in convenient location. Large . 08 acre lot with shed. Home does not have heat or an oven/range, hence most loans are not possible. The home has great flow, is partially upgraded, has a walk in pantry and laundry room. Home was part of the church (164 Washington Rd. ) next door. Buy one property or both together. The church has several acres and is available also separately. Close to downtown Cowpens and near Spartanburg. Buyer agent to verify square footage. Owners selling 'as is'. Check out this deal now!

13. 2025-09-25
    listed $114,500 Active 606-char remark

    Show marketing remark (606 chars)

    CASH BUYERS (or portfolio loan) ONLY! Great 2 BDRM, 1 full bath, brick, 1035 square foot home in convenient location. Large . 08 acre lot with shed. Home does not have heat or an oven/range, hence most loans are not possible. The home has great flow, is partially upgraded, has a walk in pantry and laundry room. Home was part of the church (164 Washington Rd. ) next door. Buy one property or both together. The church has several acres and is available also separately. Close to downtown Cowpens and near Spartanburg. Buyer agent to verify square footage. Owners selling 'as is'. Check out this deal now!

14. 1994-09-01
    soldstatus $35,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $18,240
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$4,943
• Taxable loss: −$2,536
• Est. tax savings @ 24.0%: +$609
• After-tax cash flow: $928/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 03
• NCES district ID: 4503540
• Math proficiency: 39% ▼ -5.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $36,898
• Composite: 36.52/100
• National rank: #4645
• State rank: #28 of 80 in SC

Livability — Cowpens

• Score: 61/100
• State rank: #213
• US rank: #17912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cowpens, SC
• Population (ZIP): 8,720

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 2% Serbian 1%
• Foreign-born: 4% · Canada, South Korea, Jamaica
• Languages at home: 91% English-only · Spanish 6% Chinese 1% 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: ▼ -26.81%
• Current HPI: 263.1439
• Rent YoY: —
• Metro: —
• 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

+378.6% since first listed

14 events — show timeline

• 2026-04-14 Pending — SPMLS
• 2026-04-01 Listed $169,900 SPMLS
• 2026-02-20 Pending — SPMLS
• 2026-02-05 Price Changed $169,900 SPMLS
• 2026-01-27 Relisted — SPMLS
• 2026-01-27 Delisted — SPMLS
• 2026-01-12 Price Changed $174,900 SPMLS
• 2025-12-01 Price Changed $179,900 SPMLS
• 2025-11-13 Listed $189,900 SPMLS
• 2025-10-14 Sold (Public Records) $105,000 Public Records
• 2025-10-14 Sold (MLS) $105,000 SPMLS
• 2025-09-26 Pending — SPMLS
• 2025-09-25 Listed $114,500 SPMLS
• 1994-09-01 Sold (Public Records) $35,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $84 · +13.5% YoY. Source: county tax records.