201 Chandler Dr Unit 4A · Gaffney, SC 29340

$55,000

2 bd · 1.5 ba · 700 sqft · Condo · 60 Days on market

$111/mo HOA · 10% of rent ↓ 2% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This condo unit is located in the Chandler Oaks community as a single unit within a quadruplex. The area offers convenient access to downtown Gaffney, several parks, and the Frederick Street corridor, and proximity to the university makes this an attractive option for student housing.. This unit is suitable as an affordable entry level primary residence or as a rental investment for the aspiring landlord. Property management of individual units is offered by the community association manager, PMI Upstate SC. Sold as is. All appliances, fixtures, electrical, and plumbing are in good working order. Unit features fresh paint and carpeting and was professionally cleaned. Accounts are in good standing with county, community association dues and public works. Seller is out of state, has never lived in or leased the unit, and has limited information. Buyer should perform adequate inspection prior to closing. All room sizes are approximate.

Key facts

• $111 HOA
• Garage
• Listed 60 days

Property features AI

Finance

• HOA & community: Property is part of a homeowners association; HOA covers common area insurance

Exterior

• Parking: Parking/garage: other (see remarks); see parking features
• Utilities: Public water; Public sewer; Public garbage pickup; Water heater details noted (see remarks)
• Home design: Single-story; Approximate age: 50+ years; Lead-based paint discovery required
• Construction: Foundation details noted (see remarks)
• Exterior features: Concrete plank exterior finish; Roof details noted (see remarks); Lot description noted (see remarks)

Interior

• Kitchen: Kitchen approx. 9 x 10; Refrigerator included
• Bedrooms: One main-level bedroom (approx. 10 x 10) with primary bedroom features noted (see remarks); Second bedroom approx. 9 x 10
• Flooring: Flooring details noted (see remarks)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Heating system details noted (see remarks); Electric cooling
• Interior features: Additional interior features noted (see remarks); No fireplace
• Laundry & utility: No laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 2.6% in Gaffney — 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 66/100 on livability (#112 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, crime D, schools D-.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 158 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 200 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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.
• Current owner paid $47k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.93% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.96%
• DSCR: 2.20
• GRM: 4.3

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: 21.0%
• Equity multiple: 1.86×
• Total profit: $13,211
• Equity at exit: $8,201

10-year hold

• IRR: 29.2%
• Equity multiple: 3.61×
• Total profit: $40,224
• Equity at exit: $4,755

Cash invested: $15,400 (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 29340

• Home prices YoY: -29.7%
• Active inventory: 158
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$111
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $346

Break-even live

Break-even rent $622

Max offer price $55,000

Occupancy floor 62%

Sensitivity live

Price	-10% $384	-5% $365	+0% $346	+5% $327	+10% $308
Rent	-10% $262	-5% $304	+0% $346	+5% $388	+10% $430
Rate	-1.0pp $374	-0.5pp $360	base $346	+0.5pp $332	+1.0pp $317

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 Goldmine Springs Rd Gaffney, SC	2.0	1.0	730	$1,099	$1.51	24d	1	0.65mi
506 S Oliver St Gaffney, SC	1.0–2.0	1.0	900	$955	$1.06	17d	5	1.18mi

HOA detail condo

• Monthly dues: $111 · $1,332/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-23
   historical $795
2. 2026-05-11
   status Pending
3. 2026-04-24
   price $795
4. 2026-03-26
   price $825
5. 2026-03-14
   status Active
6. 2026-02-02
   status Pending
7. 2026-01-31
   price $900
8. 2026-01-31
   listed $55,000 Active
9. 2026-01-17
   listed $800
10. 2024-10-22
    soldstatus $47,000 Sold 957-char remark

    Show marketing remark (957 chars)

    This condo unit is located in the Chandler Oaks community as a single unit within a quadruplex. The area offers convenient access to downtown Gaffney, several parks, and the Frederick Street corridor, and proximity to the university makes this an attractive option for student housing.. This unit is suitable as an affordable entry level primary residence or as a rental investment for the aspiring landlord. Property management of individual units is offered by the community association manager, PMI Upstate SC. Sold as is. All appliances, fixtures, electrical, and plumbing are in good working order. Unit features fresh paint and carpeting and was professionally cleaned. Accounts are in good standing with county, community association dues and public works. Seller is out of state, has never lived in or leased the unit, and has limited information. Buyer should perform adequate inspection prior to closing. All room sizes are approximate.

11. 2024-09-20
    status Pending 957-char remark

    Show marketing remark (957 chars)

    This condo unit is located in the Chandler Oaks community as a single unit within a quadruplex. The area offers convenient access to downtown Gaffney, several parks, and the Frederick Street corridor, and proximity to the university makes this an attractive option for student housing.. This unit is suitable as an affordable entry level primary residence or as a rental investment for the aspiring landlord. Property management of individual units is offered by the community association manager, PMI Upstate SC. Sold as is. All appliances, fixtures, electrical, and plumbing are in good working order. Unit features fresh paint and carpeting and was professionally cleaned. Accounts are in good standing with county, community association dues and public works. Seller is out of state, has never lived in or leased the unit, and has limited information. Buyer should perform adequate inspection prior to closing. All room sizes are approximate.

12. 2024-09-13
    price $51,000 957-char remark

    Show marketing remark (957 chars)

    This condo unit is located in the Chandler Oaks community as a single unit within a quadruplex. The area offers convenient access to downtown Gaffney, several parks, and the Frederick Street corridor, and proximity to the university makes this an attractive option for student housing.. This unit is suitable as an affordable entry level primary residence or as a rental investment for the aspiring landlord. Property management of individual units is offered by the community association manager, PMI Upstate SC. Sold as is. All appliances, fixtures, electrical, and plumbing are in good working order. Unit features fresh paint and carpeting and was professionally cleaned. Accounts are in good standing with county, community association dues and public works. Seller is out of state, has never lived in or leased the unit, and has limited information. Buyer should perform adequate inspection prior to closing. All room sizes are approximate.

13. 2024-08-13
    listed $56,000 Active 957-char remark

    Show marketing remark (957 chars)

    This condo unit is located in the Chandler Oaks community as a single unit within a quadruplex. The area offers convenient access to downtown Gaffney, several parks, and the Frederick Street corridor, and proximity to the university makes this an attractive option for student housing.. This unit is suitable as an affordable entry level primary residence or as a rental investment for the aspiring landlord. Property management of individual units is offered by the community association manager, PMI Upstate SC. Sold as is. All appliances, fixtures, electrical, and plumbing are in good working order. Unit features fresh paint and carpeting and was professionally cleaned. Accounts are in good standing with county, community association dues and public works. Seller is out of state, has never lived in or leased the unit, and has limited information. Buyer should perform adequate inspection prior to closing. All room sizes are approximate.

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,716
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − HOA: −$1,332
• − Depreciation: −$1,600
• Taxable income: $3,568
• Est. tax owed @ 24.0%: −$856
• After-tax cash flow: $3,296/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: Cherokee 01
• NCES district ID: 4501500
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $34,262
• Composite: 28.39/100
• National rank: #6768
• State rank: #47 of 80 in SC

Livability — Gaffney

• Score: 66/100
• State rank: #112
• US rank: #11549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gaffney, SC
• County: Cherokee County · 41,410 people
• City population: 41,410
• Metro: Gaffney, SC
• Population (ZIP): 20,763
• Household income: $44,123
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 257.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 58,602 people
• By 2030: 59,336 · +1.3%
• By 2040: 60,266 · +2.8%
• By 2050: 60,314 · +2.9%
• By 2075: 59,276 · +1.2%
• By 2100: 53,788 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -29.3pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+43.8 2016: R+41.7 2012: R+29.3 2008: R+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.24%
• Current HPI: 201.4272
• Rent YoY: —
• Metro: Gaffney, 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

-1.8% since first listed

13 events — show timeline

• 2026-05-23 Rental Removed $795 TENANTTURNER2
• 2026-05-11 Pending — Greater Greenville MLS
• 2026-04-24 Price Changed $795 TENANTTURNER2
• 2026-03-26 Price Changed $825 TENANTTURNER2
• 2026-03-14 Relisted — Greater Greenville MLS
• 2026-02-02 Pending — Greater Greenville MLS
• 2026-01-31 Price Changed $900 TENANTTURNER2
• 2026-01-31 Listed $55,000 Greater Greenville MLS
• 2026-01-17 Listed for Rent $800 TENANTTURNER2
• 2024-10-22 Sold (MLS) $47,000 Greater Greenville MLS
• 2024-09-20 Pending — Greater Greenville MLS
• 2024-09-13 Price Changed $51,000 Greater Greenville MLS
• 2024-08-13 Listed $56,000 Greater Greenville MLS