104 Pacific Mill Pl · Lyman, SC 29635

$199,990

3 bd · 2.5 ba · 1,305 sqft · Townhouse · 128 Days on market

Built 2026 Excellent condition 1,306 sqft lot $153/sqft · 5% below area Est $211k · 5% under $135/mo HOA · 8% of rent ↓ 10% since listing

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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).

• ARV discount +9.9/15.0
• Cash flow +7.6/30.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Price Improvement! Exterior Home! Move-In Ready! The Aspen offers a beautifully designed living space that maximizes space while keeping everyday living comfortable. From the front entry, the foyer opens into an open kitchen, dining area, and great room, creating a main living space that feels open but connected. The kitchen includes an island and pantry storage, with clear sightlines into the dining and living areas. A rear patio extends the living space outdoors, while a conveniently placed powder room and storage closet completes the main level. This floor plan features 1,305 square feet, 3 bedrooms, and 2.

Key facts

• Private yard
• Modern kitchen
• Conveniently located

Tags

• MODERN KITCHEN
• PRIVATE YARD
• ENERGY-EFFICIENT CONSTRUCTION
• MAINTENANCE-FREE LIVING
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $200k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-240 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (19.1% below list).
• Recommended offer: $162k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.5% in Lyman — 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 68/100 on livability (#83 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Duncan Elementary School of The Arts (math 30% / reading 37%, grade F, #362 of 597 statewide, top 61%, 689 students, 100% FRL); D. R. Hill Middle (math 28% / reading 38%, grade F, #116 of 229 statewide, top 51%, 702 students, 80% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL) — zoned schools average 79% FRL vs 39% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 63 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k 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

• It's been on market 128 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

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 $161,692 (19.1% 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. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.14%
• DSCR: 0.77
• GRM: 10.3

CMA / ARV

• ARV (median comp): $211,450
• List price: $199,990
• Delta: -5.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Pacific Mill Pl	0.00mi	3/2.5	1,305 (0%)	2mo	$189,990	$146	98
116 Pacific Mill Pl	0.02mi	3/2.5	1,305 (0%)	1mo	$189,990	$146	98
1548 Purrington Ln	0.55mi	3/2.5	1,350 (+3%)	4mo	$234,000	$173	65
845 Ernest Ln	0.60mi	3/2.5	1,276 (-2%)	5mo	$189,900	$149	64
857 Ernest Ln	0.62mi	3/2.5	1,276 (-2%)	5mo	$187,900	$147	63
865 Ernest Ln	0.64mi	3/2.5	1,276 (-2%)	5mo	$199,900	$157	62
819 Ernest Ln	0.55mi	3/2.5	1,480 (+13%)	5mo	$199,900	$135	48
847 Ernest Ln	0.60mi	3/2.5	1,480 (+13%)	6mo	$224,900	$152	45
855 Ernest Ln	0.62mi	3/2.5	1,480 (+13%)	5mo	$214,900	$145	45
867 Ernest Ln	0.64mi	3/2.5	1,480 (+13%)	4mo	$214,900	$145	44
863 Ernest Ln	0.64mi	3/2.5	1,480 (+13%)	5mo	$224,900	$152	44
859 Ernest Ln	0.63mi	3/2.5	1,480 (+13%)	6mo	$222,400	$150	44

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: -25.0%
• Equity multiple: 0.15×
• Total profit: $-47,567
• Equity at exit: $29,819

10-year hold

• IRR: -20.6%
• Equity multiple: -0.08×
• Total profit: $-60,645
• Equity at exit: $17,291

Cash invested: $55,997 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 7 under contract
• Months of supply: 4.7 mo (21%/mo absorbed)
• Median asking: $189,990 ($146/sqft)
• Median days on market: 77 d
• This list price: 82% of active listings are priced below it
• ARV vs active asking: +11.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29635

• Home prices YoY: -21.6%
• Active inventory: 63
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$135
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-240

Break-even live

Break-even rent $1,920

Max offer price $165,302

Occupancy floor —

Sensitivity live

Price	-10% $-102	-5% $-171	+0% $-240	+5% $-309	+10% $-378
Rent	-10% $-367	-5% $-304	+0% $-240	+5% $-176	+10% $-112
Rate	-1.0pp $-139	-0.5pp $-189	base $-240	+0.5pp $-292	+1.0pp $-344

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: $49,998
• Closing costs: $6,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	116d	1	0.59mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	109d	1	0.61mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	116d	1	0.62mi
1042 Westergard Way Lyman, SC	3.0	2.5	1480	$1,500	$1.01	6d	1	0.70mi
Angelic Pl Wellford, SC	3.0	2.5	1280	$1,520	$1.19	116d	2	0.94mi
Paradise Pl Wellford, SC	2.0	2.5	990	$1,395	$1.41	6d	1	0.97mi
610 Universal Dr Lyman, SC	1.0–2.0	1.0–1.5	852	$1,685	$1.98	0d	7	0.99mi
244 Halo Dr Wellford, SC	2.0–3.0	1.5–2.5	1137	$1,595	$1.40	6d	5	1.10mi
Halo Dr Wellford, SC	2.0–3.0	1.5–2.5	1135	$1,445	$1.27	6d	3	1.12mi
103 Newman Dr Lyman, SC	3.0	2.0	1508	$1,540	$1.02	6d	1	1.26mi

Listing history 31 events

1. 2026-08-20
   days on market $199,990 Active 128 DOM
2. 2026-08-19
   days on market $199,990 Active 127 DOM
3. 2026-08-18
   days on market $199,990 Active 126 DOM
4. 2026-08-17
   days on market $199,990 Active 125 DOM
5. 2026-08-16
   days on market $199,990 Active 124 DOM
6. 2026-08-15
   days on market $199,990 Active 123 DOM
7. 2026-08-14
   days on market $199,990 Active 122 DOM
8. 2026-08-13
   days on market $199,990 Active 121 DOM
9. 2026-08-12
   days on market $199,990 Active 120 DOM
10. 2026-08-11
    days on market $199,990 Active 119 DOM
11. 2026-08-10
    days on market $199,990 Active 118 DOM
12. 2026-08-09
    days on market $199,990 Active 117 DOM
13. 2026-08-08
    days on market $199,990 Active 116 DOM
14. 2026-08-07
    days on market $199,990 Active 115 DOM
15. 2026-08-06
    days on market $199,990 Active 114 DOM
16. 2026-08-05
    days on market $199,990 Active 113 DOM
17. 2026-08-04
    days on market $199,990 Active 112 DOM
18. 2026-08-03
    days on marketlisting id $199,990 Active 111 DOM
19. 2026-06-09
    days on market $199,990 Active 64 DOM
20. 2026-06-08
    days on market $199,990 Active 63 DOM
21. 2026-06-07
    remarks 699-char remark
22. 2026-06-07
    days on marketlisting id $199,990 Active 62 DOM
23. 2026-06-02
    days on market $199,990 Active 108 DOM
24. 2026-06-01
    days on market $199,990 Active 107 DOM
25. 2026-05-31
    days on market $199,990 Active 106 DOM
26. 2026-05-30
    days on market $199,990 Active 105 DOM
27. 2026-04-06
    listed $199,990 Active 963-char remark
28. 2026-03-24
    price $199,990
29. 2026-03-03
    price $204,990
30. 2026-02-23
    price $214,990
31. 2026-02-14
    listed $220,990 Active

ⓘ 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 6/10 Major 7 d/yr ≥104°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: $19,403
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − HOA: −$1,620
• − Depreciation: −$5,818
• Taxable loss: −$6,342
• Est. tax savings @ 24.0%: +$1,522
• After-tax cash flow: $-1,355/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This move-in ready townhouse is in excellent condition with modern amenities and a well-maintained exterior. Potential buyers and renters will appreciate the curb appeal and the home's location.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Adding smart home features — Improves convenience and can increase both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value. ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Duncan Elementary School Of The Arts F SC #362/597 Nat'l #24,455/41,679 Middle D. R. Hill Middle F SC #116/229 Nat'l #8,059/14,009 High James Byrnes Freshman Academy A SC #12/196 Nat'l #704/17,239

Schools (NCES district)

• District: Spartanburg 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

C Composite livability gradescore 68/100

Livability — Lyman

• Score: 68/100
• State rank: #83
• US rank: #9705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyman, SC
• County: Greenville · 325,495 people
• City population: 14,068
• Metro: Greenville-Anderson-Greer, SC
• Population (ZIP): 1,528
• Household income: $71,579
• Rent vs Own: 5.2% rent · 94.8% own

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Serbian 6% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

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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: ▼ -51.93%
• Current HPI: 188.4631
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-9.5% since first listed

5 events — show timeline

• 2026-06-03 Listing Removed — Greater Greenville MLS
• 2026-03-24 Price Changed $199,990 Greater Greenville MLS
• 2026-03-03 Price Changed $204,990 Greater Greenville MLS
• 2026-02-23 Price Changed $214,990 Greater Greenville MLS
• 2026-02-14 Listed $220,990 Greater Greenville MLS