Is 114 Pacific Mill Pl in Lyman, SC a good investment?

CashFlowRE grades it D with a 5.3% cap rate and $-157/mo modeled cash flow at a $192,990 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 114 Pacific Mill Pl?

The modeled cap rate is 5.3% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,660/month, from CashFlowRE's rent model.

D Composite 43.61

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).

ARV discount +12.8/15.0
Cash flow +8.9/30.0
Schools +5.3/10.0
Condition / age +4.8/5.0
1% rule +3.6/10.0
Livability +3.4/5.0
Rent growth +2.5/5.0
DSCR +2.4/10.0
Appreciation +0.0/10.0

$192,990

114 Pacific Mill Pl · Lyman, SC 29635

3 bd · 2.5 ba · 1,305 sqft · Townhouse · 37 Days on market

Built 2026 Excellent condition 1,306 sqft lot $148/sqft · 12% below area Est $219k · 12% under $135/mo HOA · 8% of rent ↓ 12% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to Lyman's newest townhome community. This beautifully designed 3-bedroom, 2.5-bath townhome offering the perfect blend of affordability, space, and low-maintenance living in the heart of downtown Lyman, South Carolina. This thoughtfully crafted floor plan features a modern kitchen complete with stainless steel appliances, ideal for both everyday living and entertaining. Enjoy your own private yard — perfect for relaxing outdoors or hosting friends and family. Built with energy-efficient construction and designed for maintenance-free living, this community is ideal for first-time homebuyers, downsizers, or anyone seeking convenience without sacrificing comfort.

Key facts

Private yard
Modern kitchen
Conveniently located

What this means for you Summary

Snapshot

This is a 3-bed/2.5-bath townhouse listed at $193k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
To cash-flow at today's rent, offer at most $170k (11.8% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (14.0% below list).
Recommended offer: $166k (14.0% below list) — sets the bar for 1% rule.
Cap rate 5.3% vs local median 3.8% in Lyman — 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 68/100 on livability (#83 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety 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: Duncan Elementary School of The Arts (math 30% / reading 37%, grade F, #362 of 597 statewide, top 61%, 689 students, 100% FRL); D. R. Hill Middle (math 28% / reading 38%, grade F, #116 of 229 statewide, top 51%, 702 students, 80% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL) — zoned schools average 79% FRL vs 39% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: 59 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 37 days — a 3% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
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

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 $166,032 (14.0% below list)

Questions for the listing agent

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?
It's been on market 37 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 0.86% ✗
Cap rate: 5.32%
Cash-on-cash: -3.49%
DSCR: 0.84
GRM: 9.7

CMA / ARV

ARV (median comp): $218,650
List price: $192,990
Delta: -11.74%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Pacific Mill Pl	0.01mi	3/2.5	1,305 (0%)	0mo	$189,990	$146	99
1548 Purrington Ln	0.55mi	3/2.5	1,350 (+3%)	2mo	$234,000	$173	67
845 Ernest Ln	0.58mi	3/2.5	1,276 (-2%)	4mo	$189,900	$149	66
857 Ernest Ln	0.61mi	3/2.5	1,276 (-2%)	3mo	$187,900	$147	65
865 Ernest Ln	0.62mi	3/2.5	1,276 (-2%)	4mo	$199,900	$157	64
819 Ernest Ln	0.53mi	3/2.5	1,480 (+13%)	3mo	$199,900	$135	50
847 Ernest Ln	0.59mi	3/2.5	1,480 (+13%)	4mo	$224,900	$152	47
855 Ernest Ln	0.60mi	3/2.5	1,480 (+13%)	3mo	$214,900	$145	47
851 Ernest Ln	0.59mi	3/2.5	1,480 (+13%)	4mo	$203,500	$138	46
867 Ernest Ln	0.62mi	3/2.5	1,480 (+13%)	3mo	$214,900	$145	46
863 Ernest Ln	0.62mi	3/2.5	1,480 (+13%)	3mo	$224,900	$152	46
859 Ernest Ln	0.61mi	3/2.5	1,480 (+13%)	4mo	$222,400	$150	46

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: -22.1%
Equity multiple: 0.24×
Total profit: $-41,168
Equity at exit: $28,775

10-year hold

IRR: -15.9%
Equity multiple: 0.11×
Total profit: $-48,290
Equity at exit: $16,686

Cash invested: $54,037 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 12 active · 5 under contract
Months of supply: 4.5 mo (22%/mo absorbed)
Median asking: $191,490 ($147/sqft)
Median days on market: 53 d
This list price: 50% of active listings are priced below it
ARV vs active asking: +14.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29635

Home prices YoY: -21.6%
Active inventory: 59
Price-to-rent: 9.7×

Monthly cashflow live

Estimated rent: $1,660 high interval (Pro) →
Mortgage (P&I): −$1,012
Tax est. 1.5%: −$241 /mo · $2,895/yr
Insurance: −$80
HOA: −$135
Lot rent: −$0
Vacancy / Maint / Mgmt: −$349
Net cashflow: $-157

Break-even live

Break-even rent $1,859

Max offer price $170,263

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-90	+0% $-157	+5% $-224	+10% $-290
Rent	-10% $-288	-5% $-223	+0% $-157	+5% $-91	+10% $-26
Rate	-1.0pp $-60	-0.5pp $-108	base $-157	+0.5pp $-207	+1.0pp $-258

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: $48,248
Closing costs: $5,790
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	70d	1	0.59mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	63d	1	0.61mi
867 Ernest Ln Lyman, SC	3.0	2.5	1480	$1,750	$1.18	70d	1	0.62mi
Angelic Pl Wellford, SC	3.0	2.5	1280	$1,520	$1.19	70d	2	0.94mi
Paradise Pl Wellford, SC	2.0–3.0	2.5	1135	$1,595	$1.41	70d	2	0.97mi
610 Universal Dr Lyman, SC	1.0–3.0	1.0–2.5	1060	$1,799	$1.70	63d	11	0.99mi
244 Halo Dr Wellford, SC	2.0–3.0	2.5	1137	$1,595	$1.40	70d	4	1.10mi
Halo Dr Wellford, SC	2.0	1.5	995	$1,295	$1.30	63d	1	1.12mi

Property features AI

Finance

HOA & community: Part of an HOACommunity common areas and lightingLawn and landscape maintenance providedVehicle restrictionsCable TV availablePets allowed

Exterior

Parking: Assigned parking for 2 spaces
Utilities: Public waterPublic sewer availableElectric tankless water heaterPrivate garbage pickup
Home design: Two-story homeModel: AspenUnder construction (approx. completion early 2026)
Construction: Built circa 2026Vinyl sidingComposition shingle roofSlab foundationBuilt by McGuinn Homes
Exterior features: PatioSidewalk

Interior

Kitchen: DishwasherElectric cooktopElectric ovenKitchen size approximately 10 x 12Dining area approximately 9 x 8
Bedrooms: Primary bedroom with double sink, full bath and shower (10 x 14)Second bedroom (10 x 10)Third bedroom (10 x 9)
Flooring: Vinyl flooring
Bathrooms: Two full bathroomsOne half bathroom
Heating & cooling: Natural gas heatingElectric cooling
Interior features: 9-foot+ ceilingsGranite countertopsSmoke detectorWalk-in closetWalk-in pantryRadon mitigation systemKitchenette/second living quarters
Laundry & utility: Laundry on 2nd floor in closet-style areaWasher connectionElectric dryer hookup

Listing history 50 events

2026-08-08

days on market $192,990 Active 37 DOM
2026-08-07

days on market $192,990 Active 36 DOM
2026-08-06

days on market $192,990 Active 35 DOM
2026-08-05

days on market $192,990 Active 34 DOM
2026-08-04

days on market $192,990 Active 33 DOM
2026-08-03

days on market $192,990 Active 32 DOM
2026-07-31

days on market $192,990 Active 29 DOM
2026-07-30

pricedays on market $192,990 Active 28 DOM
2026-07-29

days on market $199,990 Active 27 DOM
2026-07-27

days on market $199,990 Active 25 DOM
2026-07-25

days on market $199,990 Active 23 DOM
2026-07-23

days on market $199,990 Active 21 DOM
2026-07-22

days on market $199,990 Active 20 DOM
2026-07-21

days on market $199,990 Active 19 DOM
2026-07-18

days on market $199,990 Active 16 DOM
2026-07-16

days on market $199,990 Active 14 DOM
2026-07-16

days on market $199,990 Active 13 DOM
2026-07-14

pricedays on market $199,990 Active 12 DOM
2026-07-13

days on market $194,990 Active 11 DOM
2026-07-12

days on market $194,990 Active 10 DOM
2026-07-11

days on market $194,990 Active 9 DOM
2026-07-10

days on market $194,990 Active 8 DOM
2026-07-09

days on market $194,990 Active 7 DOM
2026-07-08

days on market $194,990 Active 6 DOM
2026-07-07

days on market $194,990 Active 5 DOM
2026-07-06

days on market $194,990 Active 4 DOM
2026-07-05

days on market $194,990 Active 3 DOM
2026-07-04

days on market $194,990 Active 2 DOM
2026-07-03

days on marketlisting id $194,990 Active 1 DOM
2026-07-01

days on market $194,990 Active 135 DOM
2026-06-30

days on market $194,990 Active 134 DOM
2026-06-29

days on market $194,990 Active 133 DOM
2026-06-28

days on market $194,990 Active 132 DOM
2026-06-28

days on market $194,990 Active 131 DOM
2026-06-27

days on market $194,990 Active 130 DOM
2026-06-25

pricedays on market $194,990 Active 128 DOM
2026-06-23

days on market $204,990 Active 126 DOM
2026-06-22

days on market $204,990 Active 125 DOM
2026-06-18

days on market $204,990 Active 122 DOM
2026-06-17

days on market $204,990 Active 121 DOM
2026-06-16

days on market $204,990 Active 120 DOM
2026-06-15

days on market $204,990 Active 119 DOM
2026-06-14

days on market $204,990 Active 117 DOM
2026-06-13

days on market $204,990 Active 116 DOM
2026-06-10

days on market $204,990 Active 114 DOM
2026-06-09

days on market $204,990 Active 113 DOM
2026-06-08

days on market $204,990 Active 112 DOM
2026-06-07

days on market $204,990 Active 111 DOM
2026-06-02

days on market $204,990 Active 106 DOM
2026-06-01

days on market $204,990 Active 105 DOM

ⓘ 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 ≥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 · 4 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $19,924
− Mortgage interest: −$10,810
− Property taxes: −$2,895
− Insurance: −$965
− Repairs & maintenance: −$1,594
− Management: −$1,594
− HOA: −$1,620
− Depreciation: −$5,614
Taxable loss: −$5,168

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,240
After-tax cash flow: $-644/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.

Condition & rehab AI · 14 photos

Excellent 95/100 None rehab

This beautifully designed 3-bedroom, 2.5-bath townhome is in excellent condition with no visible repairs needed. It offers a modern kitchen, two full bathrooms, and a well-maintained exterior. The home is move-in ready and would benefit from a fresh coat of paint and landscaping improvements to further enhance its curb appeal and resale value.

Value-add opportunities

Resale Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and overall aesthetic of the home, making it more attractive to potential buyers. ↑
Resale Landscaping improvements — Enhancing the landscaping can make the home more appealing and increase its curb appeal, which can positively impact its resale value. ↑

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Duncan Elementary School Of The Arts F SC #362/597 Nat'l #24,455/41,679 Middle Beech Springs Intermediate F SC #78/229 Nat'l #6,005/14,009 High James Byrnes Freshman Academy A SC #12/196 Nat'l #704/17,239

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

C Composite livability gradescore 68/100

Livability — Lyman

Score: 68/100
State rank: #83
US rank: #9705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Lyman, SC
County: Greenville · 325,495 people
City population: 14,068
Metro: Greenville-Anderson-Greer, SC
Population (ZIP): 1,528
Household income: $71,579
Rent vs Own: 5.2% rent · 94.8% own

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 (99%)
Race & ethnicity: White 99%
Common ancestry: Serbian 6% Italian 2% Lithuanian 2%
Foreign-born: 1%
Languages at home: 99% English-only · Russian/Polish/Slavic 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: ▼ -51.93%
Current HPI: 188.4631
Rent YoY: —
Metro: —
State GDP YoY: ▲ 4.51%
F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
Packaging	1	$7B
#370 Sonoco Products Hartsville $6.8B

Price history

-11.8% since first listed

6 events — show timeline

2026-07-02 Listed $194,990 Greater Greenville MLS
2026-07-01 Listing Removed — Greater Greenville MLS
2026-06-24 Price Changed $194,990 Greater Greenville MLS
2026-03-03 Price Changed $204,990 Greater Greenville MLS
2026-02-23 Price Changed $214,990 Greater Greenville MLS
2026-02-16 Listed $220,990 Greater Greenville MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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