507 Cedar Lane Rd · Parker, SC 29611

$299,900

4 bd · 2.0 ba · 1,558 sqft · MultiFamily public records · 13 Days on market

Built 1950 9,147 sqft lot

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Why this score? — see what drove the C- 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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Location! Potential to convert to Commercial if you wish. Duplex Home with 2 bedrooms, one bath on each side. All the possibilities with this property. Live in one unit, flip little by little, and rent out the other unit along with a storage opportunity at the rear of the home. Or INVESTORS, come add your vision to this growing location! Only 8 min to Downtown Greenville! Fix, Hold, and Flip! Sold As- Is. Driven by strong rental demand, this property offers investors the potential for steady cash flow today while building long-term equity and appreciation over time. Investors looking for a 1031 Exchange, here is your opportunity. Tenant occupied on a month-to-month basis.

Key facts

• 9,147 sq ft lot
• 2 parking spots
• Listed 13 days

Property features AI

Finance

• HOA & community: No community amenities listed

Exterior

• Parking: Paved driveway
• Utilities: Public water; Electric water heater; Public sewer (also listed as private sewer); Public garbage pickup
• Home design: Single-story building; Duplex (2 total units)
• Construction: Crawl space foundation; Year built unknown
• Exterior features: Brick veneer exterior; Architectural roof

Interior

• Kitchen: Unit 2: Kitchen/Breakfast Room
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Forced air heating; Central forced cooling
• Interior features: Two separate units (duplex); Unit 2 includes a balcony, kitchen/breakfast area, and a living/great room

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive. Per door: $193/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (4.1% below list).
• Recommended offer: $288k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.2% in Parker — 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 74/100 on livability (#31 in SC, #4,642 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monaview Elementary (math 40% / reading 24%, grade F, #369 of 597 statewide, top 64%, 615 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 49% district-wide (-17 pts) — the specific schools serving this property underperform the Greenville 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 278 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).
• At $2,875/mo this rent would consume 67% of the median local household income ($52k/yr) (locally 1754% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; list at $300k implies a 253% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $287,500 (4.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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: 0.96% ✗
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-27,710
• Equity at exit: $44,716

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-7,347
• Equity at exit: $25,930

Cash invested: $83,972 (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 29611

• Home prices YoY: -34.6%
• Rents YoY: 1.7%
• Active inventory: 278
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $2,875 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $386

Break-even live

Break-even rent $2,386

Max offer price $299,900

Occupancy floor 82%

Sensitivity live

Price	-10% $556	-5% $471	+0% $386	+5% $302	+10% $217
Rent	-10% $159	-5% $273	+0% $386	+5% $500	+10% $614
Rate	-1.0pp $538	-0.5pp $463	base $386	+0.5pp $309	+1.0pp $230

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,874
Total (2 units)			$2,875

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Frost St Greenville, SC	3.0	2.0	1450	$1,900	$1.31	25d	1	0.37mi
25 Louise Ave Greenville, SC	3.0	3.0	1600	$1,999	$1.25	25d	1	0.67mi
103 Fernside Ct Greenville, SC	3.0	2.5	1210	$1,750	$1.45	5d	1	0.74mi
14 Pine Thicket Dr Greenville, SC	3.0	2.5	1475	$1,595	$1.08	25d	1	0.75mi
12 Catawba Ave Greenville, SC	3.0	2.5	1399	$1,650	$1.18	16d	1	0.77mi
5 Zarline St Greenville, SC	3.0	1.0	1060	$1,095	$1.03	20d	1	0.79mi
525 Hampton Townes Dr Unit 1 Greenville, SC	3.0	2.5	1286	$1,775	$1.38	13d	1	0.79mi
39 E 7th St Greenville, SC	3.0	2.0	1120	$1,750	$1.56	5d	1	0.90mi
31 Victor St Unit 326 Greenville, SC	4.0	2.0	1315	$2,499	$1.90	25d	1	1.03mi
1 E Main St Greenville, SC	1.0–3.0	1.0–2.0	1241	$2,600	$2.10	5d	28	1.20mi
9 Gilreath St Greenville, SC	3.0	2.0	1244	$1,495	$1.20	23d	1	1.21mi
5 Charles St Greenville, SC	3.0	2.0	1492	$1,800	$1.21	25d	1	1.22mi
34 3rd St Greenville, SC	4.0	3.0	2100	$2,650	$1.26	16d	1	1.33mi
420 Oscar St Greenville, SC	3.0	2.0	1400	$1,800	$1.29	5d	1	1.39mi
7 Iola St Greenville, SC	3.0	2.0	1165	$2,500	$2.15	16d	1	1.42mi

Listing history 10 events

1. 2026-06-22
   days on market $299,900 Active 13 DOM
2. 2026-06-18
   days on market $299,900 Active 10 DOM
3. 2026-06-17
   days on market $299,900 Active 9 DOM
4. 2026-06-16
   days on market $299,900 Active 8 DOM
5. 2026-06-15
   days on market $299,900 Active 7 DOM
6. 2026-06-13
   days on market $299,900 Active 5 DOM
7. 2026-06-13
   days on market $299,900 Active 4 DOM
8. 2026-06-10
   days on market $299,900 Active 2 DOM
9. 2026-06-09
   remarks 680-char remark
10. 2026-06-09
    listed $299,900 Active 1 DOM

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

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $2,245 · $187/mo
• Projected year-2 tax: $2,245 · $187/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,500
• − Mortgage interest: −$16,799
• − Property taxes: −$2,245
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,760
• − Management: −$2,760
• − Depreciation: −$8,724
• Taxable loss: −$288
• Est. tax savings @ 24.0%: +$69
• After-tax cash flow: $4,707/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Parker

• Score: 74/100
• State rank: #31
• US rank: #4642

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parker, SC
• County: Greenville County · 573,815 people
• Metro: Greenville-Anderson, SC
• Population (ZIP): 32,365
• Household income: $51,565
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1754.0

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Black 29% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 79% English-only · Spanish 19% Russian/Polish/Slavic 1%

Political lean MEDSL · Greenville

• 2024 margin: Strong R (+22.2) · D 38.0% · R 60.2% · Other 1.8%
• 2008→2024 swing: +1.7pp toward D · 2008: -23.9pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+18.2 2016: R+24.7 2012: R+27.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.58%
• Current HPI: 264.2891
• Rent YoY: ▲ 1.72%
• 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

+224.2% since first listed

3 events — show timeline

• 2026-06-09 Listed $299,900 Greater Greenville MLS
• 2006-08-04 Sold (Public Records) $85,000 Public Records
• 1993-04-25 Sold (Public Records) $92,500 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,245 · +2.9% YoY. Source: county tax records.