108 Shadow Stone Dr · Simpsonville, SC 29680

$399,999

4 bd · 3.5 ba · 2,810 sqft · SingleFamily · 51 Days on market

Built 2026 Est $419k · at est.

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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).

• Cash flow +16.5/30.0
• ARV discount +9.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This new two-story home was designed for gracious living. The first floor features a large family room for shared moments, a modern kitchen, a casual breakfast room to complement a formal dining room and a front porch and covered patio for outdoor living. Upstairs are a loft, three secondary bedrooms with walk-in closets and the owner's suite, which has two of them.

Key facts

• 2 garage spots
• Built 2026
• Listed 51 days

Property features AI

Finance

• Other: Address: 108 Shadow Stone Dr, Simpsonville SC 29680; Status: Active; Last modified: 2026-05-21
• Financial info: List price $413,999
• HOA & community:

Exterior

• Parking: 2 garage spaces (2 total parking spaces)
• Security:
• Utilities:
• Home design: Spec new construction — Hunter plan
• Construction:
• Exterior features: Living area of 2810 (interior size provided)

Interior

• Kitchen:
• Bedrooms: 4 bedrooms
• Flooring:
• Bathrooms: 3 full bathrooms and 1 half bathroom
• Heating & cooling:
• Interior features: Open plan living areas
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $237 ($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 $380k (5.0% below list).
• Recommended offer: $380k (5.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.9% in Simpsonville — 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 87/100 on livability (#1 in SC, #295 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 245 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• At $3,800/mo this rent would consume 53% of the median local household income ($87k/yr) (locally 553% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.

Recommended offer $379,962 (5.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.95% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $418,690
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Lenten Rose Ct	0.41mi	5/3.5 (+1)	2,848 (+1%)	7mo	$425,000	$149	68
202 Seneca Dr	0.10mi	4/2.5	2,694 (-4%)	23mo	$347,350	$129	65
9 Bingham Way	0.73mi	4/3.0	3,111 (+11%)	2mo	$720,000	$231	45

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 · 2.85% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-50,212
• Equity at exit: $59,641

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-26,364
• Equity at exit: $34,585

Cash invested: $112,000 (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 29680

• Home prices YoY: -31.2%
• Rents YoY: 2.9%
• Active inventory: 245
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,800 medium
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $237

Break-even live

Break-even rent $3,499

Max offer price $399,999

Occupancy floor 89%

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Blue Sage Pl Simpsonville, SC	4.0	2.0	1950	$6,000	$3.08	23d	1	0.37mi
101 Chadmore St Simpsonville, SC	5.0	3.0	2400	$2,400	$1.00	23d	1	1.02mi

Listing history 14 events

1. 2026-06-18
   days on market $399,999 Active 51 DOM
2. 2026-06-17
   days on market $399,999 Active 50 DOM
3. 2026-06-16
   days on market $399,999 Active 49 DOM
4. 2026-06-15
   days on market $399,999 Active 48 DOM
5. 2026-06-13
   days on market $399,999 Active 46 DOM
6. 2026-06-13
   days on market $399,999 Active 45 DOM
7. 2026-06-10
   pricedays on market $399,999 Active 43 DOM
8. 2026-06-09
   days on market $409,999 Active 42 DOM
9. 2026-06-08
   days on market $409,999 Active 41 DOM
10. 2026-06-07
    days on market $409,999 Active 40 DOM
11. 2026-06-03
    days on market $409,999 Active 36 DOM
12. 2026-06-03
    pricedays on market $409,999 Active 35 DOM
13. 2026-06-01
    days on market $411,999 Active 34 DOM
14. 2026-05-31
    days on market $411,999 Active 33 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,595
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,648
• − Management: −$3,648
• − Depreciation: −$11,636
• Taxable loss: −$3,742
• Est. tax savings @ 24.0%: +$898
• After-tax cash flow: $3,747/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Simpsonville

• Score: 87/100
• State rank: #1
• US rank: #295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greenville County · 573,815 people
• City population: 104,420
• Metro: Greenville-Anderson, SC
• Population (ZIP): 35,770
• Household income: $86,716
• Rent vs Own: 21.7% rent · 78.3% own
• Severe rent burden: 553.0

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Black 24% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 7% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Greenville

• 2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
• 2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.15%
• Current HPI: 224.9051
• Rent YoY: ▲ 2.85%
• Metro: Greenville-Anderson, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B