1114 Grace Ave · Irwin, SC 29720

$195,000

3 bd · 1.0 ba · 1,258 sqft · SingleFamily public records · 14 Days on market

Built 1948 0.54 ac lot Est $228k · 14% under

---

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 +20.1/30.0
• ARV discount +14.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.0/10.0
• Schools +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the potential of this charming 3-bedroom, 1-bath cottage in the heart of Lancaster! Situated on a spacious lot, this 1948 home offers a great opportunity for first-time buyers to build equity or for investors seeking their next project. The property features a functional layout with classic character, ready for your personal touch. Conveniently located just minutes from local dining, shopping, and downtown amenities. Whether you're searching for a cozy home or a renovation opportunity, 1114 Grace Ave is full of possibilities.

Key facts

• Spacious lot
• Functional layout
• Conveniently located

Tags

• SPACIOUS LOT
• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Zoned MDR
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Residential property; One-story; Entry/main level living
• Construction: Site-built construction; Aluminum and vinyl exterior; Crawl space foundation; Built on one level
• Exterior features: Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Fireplace; 2 total rooms
• Laundry & utility: Mud room laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/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 $176k (9.6% below list).
• Recommended offer: $176k (9.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#292 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Lancaster 01 (rural): math 41% / reading 47% proficiency, ranked #26 of 80 in SC (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 685 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 976 units permitted in Lancaster County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lancaster County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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 $176,373 (9.6% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $227,698
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
951 Confederate Ave	0.19mi	3/2.0	1,250 (-1%)	2mo	$240,000	$192	84
1055 Laurel Ave	0.08mi	3/2.0	1,294 (+3%)	12mo	$245,000	$189	78
1048 Old Thompson Ave	0.23mi	3/1.0	1,161 (-8%)	1mo	$186,000	$160	75
1015 Grace Ave	0.24mi	2/2.0 (-1)	1,283 (+2%)	9mo	$212,000	$165	69
1227 Laurel Ave	0.34mi	3/2.0	1,345 (+7%)	3mo	$190,000	$141	66
949 Grace Ave	0.39mi	3/1.0	1,115 (-11%)	13mo	$135,000	$121	52
1115 Old Thompson Ave	0.29mi	2/2.0 (-1)	1,118 (-11%)	12mo	$270,000	$242	49
1652 Pinewood Ave	0.74mi	3/2.0	1,296 (+3%)	12mo	$225,500	$174	47
1140 Confederate Ave #11	0.44mi	3/1.5	1,106 (-12%)	17mo	$165,000	$149	43
1192 Hampton Grace Ave	0.51mi	3/2.0	1,438 (+14%)	9mo	$260,000	$181	41
1397 Grace Ave	0.66mi	2/1.0 (-1)	1,077 (-14%)	6mo	$201,000	$187	35
1459 Erwin St	0.66mi	2/2.0 (-1)	1,144 (-9%)	15mo	$219,900	$192	32

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-16,253
• Equity at exit: $29,075

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $5,345
• Equity at exit: $16,860

Cash invested: $54,600 (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 29720

• Home prices YoY: -28.2%
• Active inventory: 685
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,764 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$47 /mo · $565/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $242

Break-even live

Break-even rent $1,457

Max offer price $195,000

Occupancy floor 81%

Sensitivity live

Price	-10% $353	-5% $298	+0% $242	+5% $187	+10% $132
Rent	-10% $103	-5% $173	+0% $242	+5% $312	+10% $382
Rate	-1.0pp $341	-0.5pp $292	base $242	+0.5pp $192	+1.0pp $140

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1080 Grace Ave Lancaster, SC	3.0	1.0	1292	$1,800	$1.39	0d	1	0.06mi
1208 Grace Ave Lancaster, SC	2.0	1.0	1344	$1,200	$0.89	0d	1	0.24mi

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-21
   status Active
3. 2026-04-10
   status Pending
4. 2026-04-03
   listed $195,000 Active
5. 2026-03-10
   soldstatus $195,077
6. 2006-07-28
   soldstatus $82,000

ⓘ 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: $565 · $47/mo
• Projected year-2 tax: $1,112 · $93/mo
• Expected delta: +$547/yr (+$46/mo · 96.7%)

ⓘ 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 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,165
• − Mortgage interest: −$10,923
• − Property taxes: −$565
• − Insurance: −$975
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − Depreciation: −$5,673
• Taxable loss: −$357
• Est. tax savings @ 24.0%: +$86
• After-tax cash flow: $2,995/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: Lancaster 01
• NCES district ID: 4502580
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $44,165
• Composite: 37.23/100
• National rank: #4462
• State rank: #26 of 80 in SC

Livability — Irwin

• Score: 56/100
• State rank: #292
• US rank: #22667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irwin, SC
• County: Lancaster County · 91,213 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 53,584
• Household income: $62,969
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 1158.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 105,572 people
• By 2030: 114,865 · +8.8%
• By 2040: 132,268 · +25.3%
• By 2050: 148,252 · +40.4%
• By 2075: 182,540 · +72.9%
• By 2100: 202,237 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 26% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Lancaster

• 2024 margin: Strong R (+24.8) · D 37.0% · R 61.8% · Other 1.2%
• 2008→2024 swing: -9.9pp toward R · 2008: -14.9pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+22.8 2016: R+25.5 2012: R+18.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.90%
• Current HPI: 244.328
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-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

+137.8% since first listed

6 events — show timeline

• 2026-04-28 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-21 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-03 Listed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-10 Sold (Public Records) $195,077 Public Records
• 2006-07-28 Sold (Public Records) $82,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $565 · +9.2% YoY. Source: county tax records.