115 Kerwin Ct · Greer, SC 29651

$224,900

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

Built 2026 Excellent condition 2,178 sqft lot Est $230k · at est. $130/mo HOA · 6% of rent

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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 +10.8/30.0
• ARV discount +8.4/15.0
• Condition / age +5.0/5.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• DSCR +3.1/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Brand new, energy-efficient home available by Feb 2026! Prep dinner at the kitchen island while mingling with guests in the open-concept great room. A convenient second-story laundry simplifies the chore. Pebble cabinets with white quartz countertops, EVP flooring, and carpet in our Fresh Package. Now selling in Greer, Crossing at Abner Creek offers energy-efficient single-family homes and townhomes near HWY 101. Enjoy close access to major employers like BMW Manufacturing and Michelin North America, plus a pool, playground, walking trails, and the convenience of being within walking distance to local schools. Modern designs, smart home features, and a peaceful setting make this an ideal Up

Key facts

• Second story laundry
• Evp flooring
• Kitchen island

Tags

• ENERGY EFFICIENT HOME
• KITCHEN ISLAND
• OPEN CONCEPT GREAT ROOM
• SECOND STORY LAUNDRY
• WHITE QUARTZ COUNTERTOPS
• EVP FLOORING

Property features AI

Finance

• HOA & community: Homeowners association present; HOA includes trash service, bylaws, and restrictive covenants; Community amenities include a playground, pool, and dog park

Exterior

• Parking: Attached 1-car garage; Paved driveway
• Utilities: Public water; Public sewer; Tankless water heater; Private garbage pickup; Electric power
• Home design: Two-story home; New construction (2026) by Meritage Homes; New / never lived in; Slab foundation; Hardboard siding exterior; Architectural roof
• Construction: Built in 2026; Hardboard siding; Architectural shingle roof; Slab foundation; Built by Meritage Homes
• Exterior features: Patio; Level lot; Lot approx. 100 x 21

Interior

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

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (11.0% below list).
• Recommended offer: $200k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $200,126 (11.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• GRM: 9.4

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	0.02mi	3/2.5	1,367 (0%)	1mo	$229,900	$168	99

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: -21.2%
• Equity multiple: 0.28×
• Total profit: $-45,650
• Equity at exit: $33,533

10-year hold

• IRR: -18.4%
• Equity multiple: 0.07×
• Total profit: $-58,711
• 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: 9.4×

Monthly cashflow live

• Estimated rent: $2,001 medium
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$130
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-103

Break-even live

Break-even rent $2,132

Max offer price $209,961

Occupancy floor —

Sensitivity live

Price	-10% $52	-5% $-26	+0% $-103	+5% $-181	+10% $-259
Rent	-10% $-261	-5% $-182	+0% $-103	+5% $-24	+10% $55
Rate	-1.0pp $10	-0.5pp $-46	base $-103	+0.5pp $-162	+1.0pp $-221

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Embark Cir Greer, SC	3.0	2.0	1740	$1,700	$0.98	14d	1	1.14mi
1456 Donhill Dr Greer, SC	3.0	2.0	1148	$2,100	$1.83	22d	1	1.41mi
1428 Donhill Dr Greer, SC	3.0	2.5	1475	$2,200	$1.49	22d	1	1.46mi

HOA detail

• Monthly dues: $130 · $1,560/yr
• Likely covers: pool

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $224,900 Active 1 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 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: $24,015
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$1,560
• − Depreciation: −$6,543
• Taxable loss: −$5,026
• Est. tax savings @ 24.0%: +$1,206
• After-tax cash flow: $-33/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 · 2 photos

Excellent 100/100 None rehab

This brand new, energy-efficient townhouse is move-in ready with fresh paint, new flooring, and modern features. Ideal for buyers seeking a modern, efficient home in a convenient location.

Value-add opportunities

• Resale Kitchen island — A kitchen island can increase functionality and appeal for potential buyers.
• Resale Open-concept great room — An open-concept layout enhances the home's appeal and functionality.
• Resale Second-story laundry — A second-story laundry can simplify chores and appeal to buyers with multiple floors.
• Both Energy-efficient features — Energy-efficient features can reduce utility costs and appeal to eco-conscious buyers.
• Both Smart home features — Smart home features can enhance convenience and appeal to tech-savvy buyers.

Renovation cost estimate screening

Value-add ROI direction

• Resale Kitchen island — A kitchen island can increase functionality and appeal for potential buyers. ↑
• Resale Open-concept great room — An open-concept layout enhances the home's appeal and functionality. ↑
• Resale Second-story laundry — A second-story laundry can simplify chores and appeal to buyers with multiple floors. ↑
• Both Energy-efficient features — Energy-efficient features can reduce utility costs and appeal to eco-conscious buyers. ↑
• Both Smart home features — Smart home features can enhance convenience and appeal to tech-savvy buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-18 Listed $224,900 Greater Greenville MLS