316 Pullham Rd · Ninety Six, SC 29646

$120,000

3 bd · 1.0 ba · 1,472 sqft · Other public records · 539 Days on market

Built 1930 2.00 ac lot ↓ 20% since listing

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Why this score? — see what drove the C 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Escape to the tranquility of the countryside with this charming 3 bedroom, 1 bath colonial style home. Nestled on a sprawling 2 acre lot, this property offers ample space and privacy, perfect for those looking to embrace a rural lifestyle. This home is sold as-is, offering a fantastic opportunity for buyers to renovate and customize to their liking. With a bit of TLC, this home can be transformed into your dream countryside retreat.

Key facts

• Colonial style home
• 2 acre lot
• 2 acre lot

Tags

• COLONIAL STYLE HOME
• 2 ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.3% in Ninety Six — 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 71/100 on livability (#51 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, health & safety C-, amenities F.
• Greenwood 52 (rural): math 46% / reading 54% proficiency, ranked #8 of 80 in SC (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ninety Six Primary (349 students, 65% FRL) — zoned schools average 65% FRL vs 47% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 168 active listings in the ZIP; 193 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Greenwood County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 539 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 539 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 1930 — 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. 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: 1.08% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,003
• Equity at exit: $17,892

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $18,500
• Equity at exit: $10,375

Cash invested: $33,600 (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 29646

• Active inventory: 168
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$85 /mo · $1,015/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $258

Break-even live

Break-even rent $967

Max offer price $120,000

Occupancy floor 75%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2025-12-12
   status Pending
2. 2025-11-11
   price $120,000
3. 2025-08-27
   price $125,000
4. 2025-07-02
   status Active
5. 2025-07-01
   historical
6. 2024-06-21
   listed $150,000 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: $1,015 · $85/mo
• Projected year-2 tax: $1,015 · $85/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,530
• − Mortgage interest: −$6,722
• − Property taxes: −$1,015
• − Insurance: −$600
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$3,491
• Taxable income: $1,217
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $2,810/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: Greenwood 52
• NCES district ID: 4502400
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $45,562
• Composite: 42.33/100
• National rank: #3255
• State rank: #8 of 80 in SC

Livability — Ninety Six

• Score: 71/100
• State rank: #51
• US rank: #6950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 28,413

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 69,627 people
• By 2030: 68,905 · -1.0%
• By 2040: 66,640 · -4.3%
• By 2050: 63,768 · -8.4%
• By 2075: 55,769 · -19.9%
• By 2100: 47,293 · -32.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 44% Black 43% Hispanic / Latino 10% Two or more races 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Greenwood

• 2024 margin: Strong R (+29.0) · D 34.9% · R 63.8% · Other 1.3%
• 2008→2024 swing: -13.3pp toward R · 2008: -15.7pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+22.8 2016: R+21.8 2012: R+15.4 2008: R+15.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.03%
• Current HPI: 153.1055
• 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

-20.0% since first listed

6 events — show timeline

• 2025-12-12 Pending — Greater Greenville MLS
• 2025-11-11 Price Changed $120,000 Greater Greenville MLS
• 2025-08-27 Price Changed $125,000 Greater Greenville MLS
• 2025-07-02 Relisted — Greater Greenville MLS
• 2025-07-01 Listing Removed — Greater Greenville MLS
• 2024-06-21 Listed $150,000 Greater Greenville MLS

Property tax history

+12.5%/yr

Latest (2025): $1,015 · +0.0% YoY. Source: county tax records.