396 Kingston St · Spartanburg, SC 29303

$49,999

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 43 Days on market

Built 1920 0.33 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all savvy investors this is your chance to restore a piece of Spartanburg's textile heritage back to its former glory. Located in the historic Beaumont Mill Village, this 2-bedroom, 1-bathroom home offers 1,044 square feet of untapped potential waiting for the right visionary to unlock its true value. Beneath the surface lies remarkable original character that deserves to shine again. Beautiful pine floors and classic beadboard ceilings speak to the craftsmanship of a bygone era, providing an authentic foundation for a stunning renovation. These are the kind of architectural details that today's buyers crave and that smart investors know how to leverage for maximum return. The lot size amplifies your investment potential significantly. Expand the living footprint, add outdoor living spaces, or reimagine the property's layout entirely. The possibilities for increasing value are substantial, limited only by your creativity and ambition. Location strengthens the investment case considerably. The Converse College Historic District sits just a short distance away, adding cultural appeal to the neighborhood. The Fresh Market on East Main Street provides convenient access to groceries, while Fifth Third Park offers nearby recreation. These amenities make the finished product highly attractive to future buyers or tenants. Spartanburg continues its upward trajectory as one of South Carolina's most exciting and growing communities, making now the ideal time to invest. Don't let this diamond in the rough slip away schedule your private showing today and seize this renovation opportunity.

Key facts

• Original character
• Pine floors
• Beadboard ceilings

Tags

• HISTORIC BEAUMONT MILL VILLAGE
• ORIGINAL CHARACTER
• PINE FLOORS
• BEADBOARD CEILINGS
• ARCHITECTURAL DETAILS
• LOT SIZE

Property features AI

Finance

• HOA & community: No HOA fees; Community amenities include a playground and some sidewalks

Exterior

• Parking: Driveway (other/see remarks)
• Utilities: Public water; Public sewer; Public garbage pickup; Water heater listed as other (see remarks); No garage
• Home design: Single-story with basement; Built around 1920; Lead-based paint and residential property disclosures required
• Construction: Wood exterior; Composition shingle roof; Basement foundation
• Exterior features: Enclosed porch; Level lot with some trees and wooded areas

Interior

• Kitchen: Kitchen about 13 x 14; No appliances listed
• Bedrooms: Primary bedroom on the main level; Primary bedroom about 17 x 14; Second bedroom about 14 x 14; Two bedrooms located on the main level
• Flooring: Pine floors; Vinyl floors
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: Cable available; One fireplace (none specified as functional)
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#24 in SC, #3,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Spartanburg 07 (urban): math 34% / reading 41% proficiency, ranked #39 of 80 in SC (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Drayton Mills Elementary (math 20% / reading 22%, grade F, #488 of 597 statewide, top 82%, 751 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 38% district-wide (-16 pts) — the specific schools serving this property underperform the Spartanburg 07 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 378 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $345 of loan paydown is wiped out by about $2k 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 + 3.7% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago 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 $7k; list at $50k implies a 614% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $48,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.69% ✓
• Cap rate: 23.14%
• Cash-on-cash: 60.16%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $168,084
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
396 Kingston St	0.00mi	2/1.0	1,044 (0%)	0mo	$42,000	$40	100
456 N Fairview Ave	0.15mi	2/1.0	1,024 (-2%)	4mo	$186,000	$182	86
791 Southern St	0.15mi	2/1.0	975 (-7%)	1mo	$189,999	$195	81
426 Gentry St	0.17mi	2/1.5	1,006 (-4%)	4mo	$189,900	$189	81
469 Barnwell Rd	0.52mi	2/1.0	1,026 (-2%)	2mo	$165,000	$161	71
651 Maywood St	0.17mi	2/1.0	939 (-10%)	5mo	$182,000	$194	71
437 Sloan St	0.13mi	2/1.0	932 (-11%)	6mo	$115,000	$123	71
102 Phifer Dr Dr	0.27mi	2/2.0	1,158 (+11%)	9mo	$200,000	$173	57
260 N Dean St	0.72mi	2/1.0	960 (-8%)	8mo	$80,000	$83	47
229 Grandview Dr	0.74mi	3/1.0 (+1)	1,120 (+7%)	2mo	$169,900	$152	46
484 Barnwell Rd	0.63mi	3/1.5 (+1)	1,161 (+11%)	1mo	$100,000	$86	44
304 Spruce St	0.60mi	3/2.0 (+1)	950 (-9%)	6mo	$108,000	$114	43

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 · 3.69% rent growth · sell at horizon

5-year hold

• IRR: 59.7%
• Equity multiple: 3.68×
• Total profit: $37,572
• Equity at exit: $7,455

10-year hold

• IRR: 64.7%
• Equity multiple: 7.74×
• Total profit: $94,316
• Equity at exit: $4,323

Cash invested: $14,000 (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 29303

• Home prices YoY: -14.1%
• Rents YoY: 3.7%
• Active inventory: 378
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$262
• Tax from tax record: −$78 /mo · $935/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $702

Break-even live

Break-even rent $457

Max offer price $49,999

Occupancy floor 43%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
692 Southern St Spartanburg, SC	2.0	1.0	1000	$1,100	$1.10	13d	1	0.11mi
225 Milliken St Spartanburg, SC	1.0–3.0	1.0–2.0	1020	$1,729	$1.70	13d	20	0.46mi
200 Heywood Ave Spartanburg, SC	1.0–2.0	1.0–2.0	829	$1,425	$1.72	13d	14	0.51mi
152 Avant St Unit B Spartanburg, SC	1.0	1.0	750	$1,450	$1.93	21d	1	0.54mi
152 Avant St Unit A Spartanburg, SC	2.0	1.0	850	$1,250	$1.47	13d	1	0.54mi
135 Oakwood Ave Spartanburg, SC	1.0–2.0	1.0–1.5	850	$995	$1.17	21d	2	0.56mi
320 Spruce St Spartanburg, SC	1.0–3.0	1.0–1.5	830	$962	$1.16	21d	1	0.69mi
121 Garner Rd Spartanburg, SC	1.0–2.0	1.0–2.0	940	$1,465	$1.56	21d	32	0.73mi
196 Silver Hill St Spartanburg, SC	3.0	3.0	1492	$1,900	$1.27	21d	1	0.77mi
103 Drayton Crossing Dr Drayton, SC	1.0–2.0	1.0–2.0	1054	$1,728	$1.64	13d	21	0.77mi
1214 Spring St Spartanburg, SC	3.0	1.0	1362	$1,395	$1.02	13d	1	0.84mi
1000 E Main St Spartanburg, SC	2.0	1.5	938	$950	$1.01	13d	2	0.86mi
201 N Liberty St Spartanburg, SC	3.0	1.0–2.0	1153	$1,982	$1.72	13d	32	0.90mi
3900 Taggart Dr Spartanburg, SC	1.0–3.0	1.0–2.0	854	$1,148	$1.34	21d	3	0.96mi
327 E Kennedy St Spartanburg, SC	1.0–2.0	1.0–2.0	806	$1,654	$2.05	13d	7	1.09mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	13d	8	1.10mi
131 College St Spartanburg, SC	2.0	1.0	700	$1,195	$1.71	21d	1	1.21mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	21d	1	1.27mi
142 Magnolia St Unit 104 Spartanburg, SC	1.0	1.0	892	$1,600	$1.79	21d	1	1.27mi
560 Magnolia St Spartanburg, SC	2.0	1.0	965	$1,113	$1.15	21d	1	1.33mi
119 Bonner Rd Spartanburg, SC	2.0	1.0	900	$845	$0.94	21d	1	1.39mi
500 Howard St Spartanburg, SC	1.0–3.0	1.0–2.0	999	$1,292	$1.29	13d	1	1.40mi
731 Old Whitney Rd Spartanburg, SC	3.0	2.5	1450	$1,700	$1.17	13d	1	1.43mi
149 S Daniel Morgan Ave Unit 2B Spartanburg, SC	1.0	1.0	750	$1,195	$1.59	21d	1	1.44mi
149 S Daniel Morgan Ave Unit 2A Spartanburg, SC	1.0	1.0	800	$1,150	$1.44	21d	1	1.44mi

Listing history 9 events

1. 2026-05-30
   status $49,999 Pending 43 DOM
2. 2026-04-15
   listed $49,999 Active

   Show marketing remark (1611 chars)

   Calling all savvy investors this is your chance to restore a piece of Spartanburg's textile heritage back to its former glory. Located in the historic Beaumont Mill Village, this 2-bedroom, 1-bathroom home offers 1,044 square feet of untapped potential waiting for the right visionary to unlock its true value. Beneath the surface lies remarkable original character that deserves to shine again. Beautiful pine floors and classic beadboard ceilings speak to the craftsmanship of a bygone era, providing an authentic foundation for a stunning renovation. These are the kind of architectural details that today's buyers crave and that smart investors know how to leverage for maximum return. The lot size amplifies your investment potential significantly. Expand the living footprint, add outdoor living spaces, or reimagine the property's layout entirely. The possibilities for increasing value are substantial, limited only by your creativity and ambition. Location strengthens the investment case considerably. The Converse College Historic District sits just a short distance away, adding cultural appeal to the neighborhood. The Fresh Market on East Main Street provides convenient access to groceries, while Fifth Third Park offers nearby recreation. These amenities make the finished product highly attractive to future buyers or tenants. Spartanburg continues its upward trajectory as one of South Carolina's most exciting and growing communities, making now the ideal time to invest. Don't let this diamond in the rough slip away schedule your private showing today and seize this renovation opportunity.

3. 2026-04-15
   listed $49,999 Active 1611-char remark

   Show marketing remark (1611 chars)

   Calling all savvy investors this is your chance to restore a piece of Spartanburg's textile heritage back to its former glory. Located in the historic Beaumont Mill Village, this 2-bedroom, 1-bathroom home offers 1,044 square feet of untapped potential waiting for the right visionary to unlock its true value. Beneath the surface lies remarkable original character that deserves to shine again. Beautiful pine floors and classic beadboard ceilings speak to the craftsmanship of a bygone era, providing an authentic foundation for a stunning renovation. These are the kind of architectural details that today's buyers crave and that smart investors know how to leverage for maximum return. The lot size amplifies your investment potential significantly. Expand the living footprint, add outdoor living spaces, or reimagine the property's layout entirely. The possibilities for increasing value are substantial, limited only by your creativity and ambition. Location strengthens the investment case considerably. The Converse College Historic District sits just a short distance away, adding cultural appeal to the neighborhood. The Fresh Market on East Main Street provides convenient access to groceries, while Fifth Third Park offers nearby recreation. These amenities make the finished product highly attractive to future buyers or tenants. Spartanburg continues its upward trajectory as one of South Carolina's most exciting and growing communities, making now the ideal time to invest. Don't let this diamond in the rough slip away schedule your private showing today and seize this renovation opportunity.

4. 2015-12-30
   soldstatus $7,000 213-char remark

   Show marketing remark (213 chars)

   Property sold in its “AS-IS, WHERE-IS” condition. Seller does not prorate taxes. Buyer pays all closing costs including, but not limited to any and all transfer taxes, title, legal, and recording fees.

5. 2015-07-14
   listed $9,900 213-char remark

   Show marketing remark (213 chars)

   Property sold in its “AS-IS, WHERE-IS” condition. Seller does not prorate taxes. Buyer pays all closing costs including, but not limited to any and all transfer taxes, title, legal, and recording fees.

6. 2015-06-22
   price $16,600
7. 2015-06-19
   status Pending
8. 2015-06-18
   historical
9. 2015-05-14
   listed $19,100 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: $935 · $78/mo
• Projected year-2 tax: $935 · $78/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,144
• − Mortgage interest: −$2,801
• − Property taxes: −$935
• − Insurance: −$250
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$1,455
• Taxable income: $8,121
• Est. tax owed @ 24.0%: −$1,949
• After-tax cash flow: $6,474/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 07
• NCES district ID: 4503660
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $35,825
• Composite: 31.04/100
• National rank: #6087
• State rank: #39 of 80 in SC

Livability — Spartanburg

• Score: 76/100
• State rank: #24
• US rank: #3679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spartanburg, SC
• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 28,381
• Household income: $48,295
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1218.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 42% Black 36% Hispanic / Latino 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Subsaharan African 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 2% 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: ▼ -45.19%
• Current HPI: 274.443
• Rent YoY: ▲ 3.69%
• 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

+161.8% since first listed

8 events — show timeline

• 2026-04-15 Listed $49,999 SPMLS
• 2026-04-15 Listed $49,999 Greater Greenville MLS
• 2015-12-30 Sold (MLS) $7,000 SPMLS
• 2015-07-14 Listed $9,900 SPMLS
• 2015-06-22 Price Changed $16,600 Greater Greenville MLS
• 2015-06-19 Pending — Greater Greenville MLS
• 2015-06-18 Listing Removed — Greater Greenville MLS
• 2015-05-14 Listed $19,100 Greater Greenville MLS

Property tax history

+1.2%/yr

Latest (2025): $935 · +1.2% YoY. Source: county tax records.