510 Sierra Ridge Ct · Spartanburg, SC 29369

$218,000

2 bd · 2.0 ba · 1,201 sqft · SingleFamily public records · 121 Days on market

Built 1998 Est $226k · 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 +12.8/30.0
• ARV discount +9.1/15.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.9/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 2 BR 2 bath home situated on a quiet cul de sac. This home is in immaculate condition and ready to move in to. Gas heat and central air. The fenced yard offers privacy and quiet. Laminate flooring in all the main areas and carpet in the 2 bedrooms. The kitchen offers stainless appliances, granite countertops, ceramic back splash and pantry, All appliances remain. Single carport with a storage room attached. The furniture can remain if it is needed.

Key facts

• Fenced-in backyard
• Built 1998
• Listed 121 days

Tags

• FENCED-IN BACKYARD
• PEACEFUL NEIGHBORHOOD SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $-18 ($-220/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (22.5% below list).
• Recommended offer: $169k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.9% in Spartanburg — 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 76/100 on livability (#24 in SC, #3,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• Spartanburg 06 (suburban): math 33% / reading 42% proficiency, ranked #35 of 80 in SC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.8%/yr); 355 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 121 days — a 12% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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.

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 $169,045 (22.5% 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 121 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 F 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. 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: 0.78% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $225,788
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Peccole Pass Ln	0.07mi	2/2.0	1,229 (+2%)	5mo	$215,000	$175	89
2285 Davenport Ct	0.27mi	3/2.0 (+1)	1,224 (+2%)	1mo	$250,000	$204	78
2141 Pomerol Dr	0.24mi	3/2.0 (+1)	1,268 (+6%)	0mo	$238,000	$188	74
708 Larado Ct	0.05mi	2/2.0	1,369 (+14%)	3mo	$215,000	$157	72
2240 Davenport Court Ct	0.37mi	3/2.0 (+1)	1,247 (+4%)	2mo	$244,575	$196	70
728 Cerons St	0.17mi	3/2.0 (+1)	1,345 (+12%)	1mo	$268,000	$199	66
2224 Davenport Court Ct	0.38mi	3/2.0 (+1)	1,247 (+4%)	7mo	$247,075	$198	65
58 Arbours West Ln	0.37mi	2/2.0	1,300 (+8%)	7mo	$228,000	$175	63
2209 Davenport Court Ct	0.40mi	3/2.0 (+1)	1,368 (+14%)	2mo	$260,065	$190	52
214 Ashton Dr	0.51mi	3/2.0 (+1)	1,346 (+12%)	1mo	$229,000	$170	51
2208 Davenport Court Ct	0.38mi	3/2.0 (+1)	1,368 (+14%)	6mo	$254,900	$186	49
2185 Davenport Ct	0.39mi	3/2.0 (+1)	1,368 (+14%)	7mo	$253,240	$185	47

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 · 1.75% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.37×
• Total profit: $-38,661
• Equity at exit: $32,505

10-year hold

• IRR: -12.9%
• Equity multiple: 0.28×
• Total profit: $-43,849
• Equity at exit: $18,849

Cash invested: $61,040 (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 29369

• Home prices YoY: -27.4%
• Rents YoY: 1.8%
• Active inventory: 355
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,690 medium
• Mortgage (P&I): −$1,143
• Tax from tax record: −$120 /mo · $1,437/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-18

Break-even live

Break-even rent $1,714

Max offer price $214,763

Occupancy floor 96%

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2180 Davenport Ct Moore, SC	3.0	2.0	1456	$2,000	$1.37	13d	1	0.36mi
202 Tower Dr Moore, SC	3.0	2.0	1008	$1,700	$1.69	21d	1	0.90mi
460 E Blackstock Rd Spartanburg, SC	3.0	1.5	1020	$1,275	$1.25	3d	1	1.15mi
430 E Blackstock Rd Spartanburg, SC	1.0–2.0	1.0	721	$915	$1.27	11d	1	1.31mi

Listing history 22 events

1. 2026-06-18
   days on market $218,000 Active 121 DOM
2. 2026-06-17
   days on market $218,000 Active 120 DOM
3. 2026-06-16
   days on market $218,000 Active 119 DOM
4. 2026-06-15
   days on market $218,000 Active 118 DOM
5. 2026-06-14
   days on market $218,000 Active 116 DOM
6. 2026-06-13
   days on market $218,000 Active 115 DOM
7. 2026-06-10
   days on market $218,000 Active 113 DOM
8. 2026-06-09
   days on market $218,000 Active 112 DOM
9. 2026-06-08
   days on market $218,000 Active 111 DOM
10. 2026-06-07
    days on market $218,000 Active 110 DOM
11. 2026-06-02
    days on market $218,000 Active 105 DOM
12. 2026-06-01
    days on market $218,000 Active 104 DOM
13. 2026-05-31
    days on market $218,000 Active 103 DOM
14. 2026-05-30
    days on market $218,000 Active 102 DOM
15. 2026-02-13
    listed $218,000 Active
16. 2024-07-26
    soldstatus $198,000
17. 2024-06-09
    listed $199,900 Active 461-char remark

    Show marketing remark (461 chars)

    Adorable 2 BR 2 bath home situated on a quiet cul de sac. This home is in immaculate condition and ready to move in to. Gas heat and central air. The fenced yard offers privacy and quiet. Laminate flooring in all the main areas and carpet in the 2 bedrooms. The kitchen offers stainless appliances, granite countertops, ceramic back splash and pantry, All appliances remain. Single carport with a storage room attached. The furniture can remain if it is needed.

18. 2016-04-26
    soldstatus $99,000
19. 2016-04-25
    soldstatus $99,000 116-char remark

    Show marketing remark (116 chars)

    2BR 2BA patio home in Cypress Ridge in District 6. New flooring, lights, fans and paint. Beautiful. A real must see!

20. 2016-03-22
    listed $99,000 116-char remark

    Show marketing remark (116 chars)

    2BR 2BA patio home in Cypress Ridge in District 6. New flooring, lights, fans and paint. Beautiful. A real must see!

21. 2016-01-28
    soldstatus $56,000
22. 2015-12-06
    listed $75,000

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

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $1,437 · $120/mo
• Projected year-2 tax: $1,437 · $120/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $20,285
• − Mortgage interest: −$12,211
• − Property taxes: −$1,437
• − Insurance: −$1,090
• − Repairs & maintenance: −$1,623
• − Management: −$1,623
• − Depreciation: −$6,342
• Taxable loss: −$4,040
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $750/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 06
• NCES district ID: 4503630
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $46,110
• Composite: 32.02/100
• National rank: #5827
• State rank: #35 of 80 in SC

Livability — Spartanburg

• Score: 76/100
• State rank: #24
• US rank: #3679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 16,503
• Household income: $82,924
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 199.0

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 (65%)
• Race & ethnicity: White 65% Black 20% Hispanic / Latino 11% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 4% Cuban 3%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada, Jamaica, Dominican Republic
• Languages at home: 87% English-only · Spanish 10% Other Indo-European 1% 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: ▼ -80.31%
• Current HPI: 212.4242
• Rent YoY: ▲ 1.75%
• Metro: Spartanburg, 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

+190.7% since first listed

8 events — show timeline

• 2026-02-13 Listed $218,000 Fizber.com
• 2024-07-26 Sold (Public Records) $198,000 Public Records
• 2024-06-09 Listed $199,900 SPMLS
• 2016-04-26 Sold (Public Records) $99,000 Public Records
• 2016-04-25 Sold (MLS) $99,000 SPMLS
• 2016-03-22 Listed $99,000 SPMLS
• 2016-01-28 Sold (MLS) $56,000 SPMLS
• 2015-12-06 Listed $75,000 SPMLS

Property tax history

+8.1%/yr

Latest (2025): $1,437 · +135.1% YoY. Source: county tax records.