129 Kerwin Ct · Greer, SC 29651

$224,900

3 bd · 2.5 ba · 1,367 sqft · Townhouse · 115 Days on market

Built 2026 2,178 sqft lot Est $230k · at est. $130/mo HOA · 7% of rent ↓ 4% since listing

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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 +10.3/30.0
• ARV discount +8.4/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

Key facts

• $130 HOA
• Garage
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association membership required; HOA covers trash service, by-laws and restrictive covenants; Community amenities include playground, pool, and dog park

Exterior

• Parking: Attached 1-car garage; Paved driveway
• Utilities: Public water; Public sewer; Electric power; Private garbage pickup; Tankless water heater
• Home design: Two-story home; Under construction (expected completion in 2026); Built by Meritage Homes
• Construction: Architectural roof; Hardboard siding exterior; Slab foundation; Approximate year built 2026
• Exterior features: Patio; Level lot

Interior

• Kitchen: Dishwasher; Disposal; Built-in microwave; Stand-alone gas range; Refrigerator; Walk-in pantry; Quartz countertops
• Bedrooms: Primary bedroom with double sink, full bath, shower-only and walk-in closet; Second bedroom approximately 10 x 10; Third bedroom approximately 9 x 12; Primary bedroom approximately 13 x 12
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heating; Electric cooling; Tankless water heater
• Interior features: 9-foot (or taller) smooth ceilings; Open floor plan; Smoke detector; Quartz countertops; Walk-in pantry; Walk-in closet(s)
• Laundry & utility: Laundry on 2nd floor in closet-style space; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (12.1% below list).
• Recommended offer: $198k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.2% in Greer — 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 81/100 on livability (#7 in SC, #1,463 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Abner Creek Academy (math 60% / reading 57%, grade B-, #95 of 597 statewide, top 16%, 752 students, 55% FRL) — zoned schools average 55% FRL vs 39% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 503 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,697 (12.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $229,656
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Kerwin Ct	0.05mi	3/2.5	1,367 (0%)	1mo	$229,900	$168	97

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 · 1.62% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.26×
• Total profit: $-46,839
• Equity at exit: $33,533

10-year hold

• IRR: -19.5%
• Equity multiple: 0.03×
• Total profit: $-61,189
• Equity at exit: $19,445

Cash invested: $62,972 (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 29651

• Home prices YoY: -29.4%
• Rents YoY: 1.6%
• Active inventory: 503
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,977 medium
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$130
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $-122

Break-even live

Break-even rent $2,132

Max offer price $207,185

Occupancy floor —

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Embark Cir Greer, SC	3.0	2.0	1740	$1,700	$0.98	13d	1	1.10mi
1456 Donhill Dr Greer, SC	3.0	2.0	1148	$2,100	$1.83	20d	1	1.36mi
1428 Donhill Dr Greer, SC	3.0	2.5	1475	$2,200	$1.49	20d	1	1.41mi
167 Randwick Ln Greer, SC	3.0	2.5	1470	$1,845	$1.26	11d	1	1.50mi

HOA detail

• Monthly dues: $130 · $1,560/yr

Listing history 30 events

1. 2026-06-18
   days on market $224,900 Active 115 DOM
2. 2026-06-17
   days on market $224,900 Active 114 DOM
3. 2026-06-16
   days on market $224,900 Active 113 DOM
4. 2026-06-15
   days on market $224,900 Active 112 DOM
5. 2026-06-14
   days on market $224,900 Active 110 DOM
6. 2026-06-13
   days on market $224,900 Active 109 DOM
7. 2026-06-10
   days on market $224,900 Active 107 DOM
8. 2026-06-09
   days on market $224,900 Active 106 DOM
9. 2026-06-08
   days on market $224,900 Active 105 DOM
10. 2026-06-07
    days on market $224,900 Active 104 DOM
11. 2026-06-02
    days on market $224,900 Active 99 DOM
12. 2026-06-01
    days on market $224,900 Active 98 DOM
13. 2026-05-31
    days on market $224,900 Active 97 DOM
14. 2026-05-30
    days on market $224,900 Active 96 DOM
15. 2026-05-01
    price $229,900 228-char remark

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

16. 2026-05-01
    price $229,900 857-char remark

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

17. 2026-05-01
    price $229,900

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

18. 2026-05-01
    price $229,900

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

19. 2026-04-23
    price $230,900 857-char remark

    Show marketing remark (228 chars)

    Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

20. 2026-04-23
    price $230,900

    Show marketing remark (228 chars)

    Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

21. 2026-04-23
    price $230,900

    Show marketing remark (228 chars)

    Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

22. 2026-04-23
    price $230,900 228-char remark

    Show marketing remark (228 chars)

    Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

23. 2026-04-07
    price $243,500
24. 2026-04-06
    price $243,500 857-char remark

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

25. 2026-04-06
    price $243,500

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

26. 2026-04-05
    price $243,500 228-char remark

    Show marketing remark (228 chars)

    Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

27. 2026-03-02
    listed $239,900 Active
28. 2026-02-23
    listed $239,900 Active 857-char remark

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

29. 2026-02-23
    listed $239,900 Active

    Show marketing remark (857 chars)

    Brand new, energy-efficient home available by Apr 2026! Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Crossing at Abner Creek is a new community coming soon to the Greenville Upstate in peaceful Greer, offering a mix of single-family homes and townhomes. With six energy-efficient floorplans to choose from, this neighborhood combines modern living with a serene atmosphere. Conveniently located near HWY 101, residents will enjoy easy access to local amenities while being tucked away in a quiet, welcoming setting. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

30. 2026-02-20
    listed $239,900 Active 228-char remark

    Show marketing remark (228 chars)

    Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package.

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,724
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − HOA: −$1,560
• − Depreciation: −$6,543
• Taxable loss: −$5,271
• Est. tax savings @ 24.0%: +$1,265
• After-tax cash flow: $-204/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 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

Livability — Greer

• Score: 81/100
• State rank: #7
• US rank: #1463

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greenville County · 573,815 people
• City population: 99,092
• Metro: Greenville-Anderson, SC
• Population (ZIP): 56,599
• Household income: $82,705
• Rent vs Own: 19.2% rent · 80.8% own
• Severe rent burden: 720.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Black 11% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -101.81%
• Current HPI: 243.9051
• Rent YoY: ▲ 1.62%
• 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

Price history

-4.2% since first listed

16 events — show timeline

• 2026-05-01 Price Changed $229,900 Zillow
• 2026-05-01 Price Changed $229,900 SPMLS
• 2026-05-01 Price Changed $229,900 WUMLS
• 2026-05-01 Price Changed $229,900 Greater Greenville MLS
• 2026-04-23 Price Changed $230,900 SPMLS
• 2026-04-23 Price Changed $230,900 WUMLS
• 2026-04-23 Price Changed $230,900 Greater Greenville MLS
• 2026-04-23 Price Changed $230,900 Zillow
• 2026-04-07 Price Changed $243,500 Greater Greenville MLS
• 2026-04-06 Price Changed $243,500 SPMLS
• 2026-04-06 Price Changed $243,500 WUMLS
• 2026-04-05 Price Changed $243,500 Zillow
• 2026-03-02 Listed $239,900 WUMLS
• 2026-02-23 Listed $239,900 SPMLS
• 2026-02-23 Listed $239,900 Greater Greenville MLS
• 2026-02-20 Listed $239,900 Zillow