606 Calhoun Ave, Unit 3 Ave · Greenwood, SC 29649

$127,900

2 bd · 1.0 ba · 1,000 sqft · Condo · 252 Days on market

Built 1968 $215/mo HOA · 11% of rent

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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 +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom condo close to Lander. Downstairs features family room with bay window, eat-in kitchen with electric range, dishwasher, refrigerator, & washer/dryer hookups. Upstairs features 2 bedrooms & full bath with tub/shower combo. 2 parking spaces per unit. HOA fee includes lawncare, exterior paint, water, sewer, & building insurance. Trash pickup provided by city of Greenwood.

Key facts

• Electric range
• Dishwasher
• Family room

Tags

• FAMILY ROOM
• BAY WINDOW
• EAT-IN KITCHEN
• ELECTRIC RANGE
• DISHWASHER
• REFRIGERATOR

Property features AI

Finance

• HOA & community: Homeowners association with $215 monthly fee

Exterior

• Utilities: Sewer connected
• Home design: Condominium; Two-story; Residential property
• Construction: Brick construction; Slab foundation; Built within 1000–1099 sq ft range
• Exterior features: Level lot

Interior

• Kitchen: Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central electric air conditioning
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $128k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $113k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.6% in Greenwood — 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 63/100 on livability (#167 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, schools F, crime F.
• Greenwood 50 (town): math 31% / reading 39% proficiency, ranked #43 of 80 in SC (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 253 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 193 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($55k/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 $884 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 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 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• GRM: 5.5

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $6,847
• Equity at exit: $19,070

10-year hold

• IRR: 14.5%
• Equity multiple: 2.17×
• Total profit: $41,913
• Equity at exit: $11,058

Cash invested: $35,812 (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 29649

• Active inventory: 253
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,936 high
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,918/yr
• Insurance: −$53
• HOA: −$215
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $430

Break-even live

Break-even rent $1,391

Max offer price $127,900

Occupancy floor 73%

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
835 Main St S Greenwood, SC	2.0–3.0	1.0	811	$1,050	$1.29	10d	5	1.17mi
210 Woodhaven Ct Unit 210 Greenwood, SC	2.0	2.0	1305	$2,500	$1.92	23d	1	1.39mi
104 Woodhaven Ct Unit 104 Greenwood, SC	2.0	2.0	1305	$2,500	$1.92	23d	1	1.39mi
218 Woodhaven Ct Unit 218 Greenwood, SC	2.0	2.0	1218	$2,600	$2.13	14d	1	1.41mi
218 Woodhaven Ct Greenwood, SC	2.0	2.0	1218	$2,600	$2.13	23d	1	1.41mi

HOA detail condo

• Monthly dues: $215 · $2,580/yr
• Likely covers: watersewertrashelectricinsurance
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $127,900 Active 252 DOM
2. 2026-06-18
   days on market $127,900 Active 251 DOM
3. 2026-06-17
   days on market $127,900 Active 250 DOM
4. 2026-06-16
   days on market $127,900 Active 249 DOM
5. 2026-06-15
   days on market $127,900 Active 248 DOM
6. 2026-06-14
   days on market $127,900 Active 246 DOM
7. 2026-06-12
   days on market $127,900 Active 245 DOM
8. 2026-06-09
   days on market $127,900 Active 242 DOM
9. 2026-06-08
   days on market $127,900 Active 241 DOM
10. 2026-06-07
    days on market $127,900 Active 240 DOM
11. 2026-06-07
    days on market $127,900 Active 239 DOM
12. 2026-06-03
    days on market $127,900 Active 236 DOM
13. 2026-06-02
    days on market $127,900 Active 235 DOM
14. 2026-06-01
    days on market $127,900 Active 234 DOM
15. 2026-05-31
    days on market $127,900 Active 233 DOM
16. 2026-05-30
    days on market $127,900 Active 232 DOM
17. 2025-10-10
    listed $135,000 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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $23,229
• − Mortgage interest: −$7,164
• − Property taxes: −$1,918
• − Insurance: −$640
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − HOA: −$2,580
• − Depreciation: −$3,721
• Taxable income: $3,489
• Est. tax owed @ 24.0%: −$837
• After-tax cash flow: $4,327/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 50
• NCES district ID: 4502340
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $37,663
• Composite: 29.14/100
• National rank: #6585
• State rank: #43 of 80 in SC

Livability — Greenwood

• Score: 63/100
• State rank: #167
• US rank: #15097

Category grades

Amenities D Commute F 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: Greenwood, SC
• County: Greenwood County · 26,275 people
• City population: 26,275
• Metro: Greenwood, SC
• Population (ZIP): 26,275
• Household income: $54,585
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 566.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 25% Hispanic / Latino 4% Two or more races 4% Asian 2%
• Common ancestry: Serbian 3% Italian 3% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -128.00%
• Current HPI: 167.9262
• Rent YoY: —
• Metro: Greenwood, 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

1 event — show timeline

• 2025-10-10 Listed $135,000 GAOR