922 N Logan St · Gaffney, SC 29341

$120,000

3 bd · 3.0 ba · 1,498 sqft · SingleFamily public records · 1 Days on market

Built 1965 7,840 sqft lot Est $162k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• 1% rule +4.6/10.0
• DSCR +4.5/10.0
• 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

* * * PLEASE USE CAUTION DURING SHOWINGS * * *   Ideal opportunity! INVESTORS, HERE IS YOUR NEXT OPPORTUNITY TO ADD TO YOUR PORTFOLIO.   If you’re an investor or buyer looking for a full renovation or rebuild, this is your project! Seller has priced this home for a quick sale, giving the buyer the opportunity for a fix and flip, buy and hold, or owner-occupant looking for equity. Location! Opportunity! This spacious 3 bed/3 bath home offers a spacious layout with excellent flow and functionality. Per the seller, lot extends to the second fence in the rear.  When showing/viewing the property, enter at your own risk, and please walk through with caution. &

Key facts

• 7,840 sq ft lot
• Built 1965

Property features AI

Finance

• HOA & community: No HOA fees or community amenities

Exterior

• Parking: Driveway parking (unpaved); No garage
• Utilities: Public water; Private sewer; Public garbage pickup; Water heater: other (see remarks)
• Home design: Single-story home; Built around 1965; Crawl space foundation
• Construction: Vinyl siding exterior; Architectural roof
• Exterior features: Front porch; Thermal windows; Level lot; Approximate lot dimensions 78 x 99; Lot is 1/2 acre or less; Lead-based paint disclosure required

Interior

• Kitchen: Kitchen approx. 15 x 13
• Bedrooms: 3 bedrooms on the main level; Primary bedroom approx. 13 x 15; Second bedroom approx. 11 x 13; Third bedroom approx. 11 x 13
• Flooring: Other flooring (see remarks)
• Bathrooms: 3 full bathrooms (all on main level)
• Heating & cooling: Heating system: other (see remarks); Cooling system: other (see remarks)
• Interior features: Other interior features (see remarks); No fireplace
• Laundry & utility: No laundry room listed

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $33 ($399/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (3.8% below list).
• Recommended offer: $115k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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, commute F.
• 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.
• Zoned schools: John E. Ewing Middle (math 18% / reading 30%, grade F, #167 of 229 statewide, top 74%, 486 students, 100% FRL); Gaffney High (math 40% / reading 75%, grade C, #116 of 196 statewide, top 59%, 1,838 students, 84% FRL) — zoned schools average 92% FRL vs 64% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 199 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $20k; list at $120k implies a 491% gain — meaningful room to come down on a strong offer.

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 $115,451 (3.8% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $161,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 E Robinson St	0.41mi	3/2.0	1,452 (-3%)	7mo	$199,900	$138	66
306 Martin St St	0.16mi	3/2.0	1,302 (-13%)	4mo	$167,000	$128	63
207 Magnolia St	0.50mi	4/3.0 (+1)	1,624 (+8%)	2mo	$224,500	$138	56
1355 N Limestone St	0.52mi	3/1.5	1,485 (-1%)	15mo	$162,500	$109	56
314 Providence Rd	0.16mi	3/2.0	1,294 (-14%)	12mo	$65,000	$50	56
203 Poplar St	0.72mi	3/1.0	1,550 (+4%)	1mo	$62,500	$40	52
401 Elm St	0.51mi	3/1.0	1,374 (-8%)	10mo	$75,000	$55	46
508 W Frederick St	0.41mi	2/1.0 (-1)	1,316 (-12%)	6mo	$72,000	$55	42
102 Beech St St	0.53mi	4/2.0 (+1)	1,624 (+8%)	14mo	$174,900	$108	41
823 W Smith Street St	0.67mi	2/1.0 (-1)	1,440 (-4%)	11mo	$160,000	$111	40
510 W Frederick St	0.42mi	4/2.0 (+1)	1,656 (+10%)	18mo	$85,000	$51	38
109 Washington Ave	0.67mi	3/1.0	1,300 (-13%)	1mo	$118,500	$91	38

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: -14.4%
• Equity multiple: 0.49×
• Total profit: $-17,277
• Equity at exit: $17,892

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-12,120
• Equity at exit: $10,375

Cash invested: $33,600 (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 29341

• Home prices YoY: -24.1%
• Active inventory: 199
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,155 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$199 /mo · $2,394/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $33

Break-even live

Break-even rent $1,112

Max offer price $120,000

Occupancy floor 92%

Sensitivity live

Price	-10% $101	-5% $67	+0% $33	+5% $-1	+10% $-35
Rent	-10% $-58	-5% $-12	+0% $33	+5% $79	+10% $124
Rate	-1.0pp $94	-0.5pp $64	base $33	+0.5pp $2	+1.0pp $-29

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 S Oliver St Gaffney, SC	1.0–2.0	1.0	900	$955	$1.06	18d	5	0.93mi
112 Martin Ln Gaffney, SC	2.0	1.5	921	$975	$1.06	7d	1	1.47mi

Listing history 2 events

1. 2026-06-21
   remarks 668-char remark
2. 2026-06-21
   listed $120,000 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: $2,394 · $199/mo
• Projected year-2 tax: $2,394 · $199/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 2/10 Low
• 🌡 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: $13,854
• − Mortgage interest: −$6,722
• − Property taxes: −$2,394
• − Insurance: −$600
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$3,491
• Taxable loss: −$1,569
• Est. tax savings @ 24.0%: +$377
• After-tax cash flow: $776/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): 20,647
• Household income: $58,029
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 452.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6% Other Indo-European 1%

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: ▼ -64.62%
• Current HPI: 203.8038
• 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

+100.7% since first listed

13 events — show timeline

• 2026-06-20 Listed $120,000 Greater Greenville MLS
• 2023-01-30 Delisted — SPMLS
• 2021-11-22 Pending — SPMLS
• 2021-10-26 Price Changed $89,900 SPMLS
• 2021-08-21 Price Changed $99,900 SPMLS
• 2021-08-20 Relisted — SPMLS
• 2021-08-09 Pending — SPMLS
• 2021-07-28 Listed $109,900 SPMLS
• 2021-05-26 Delisted — SPMLS
• 2020-10-30 Delisted — SPMLS
• 2019-09-11 Listed $49,900 SPMLS
• 2006-06-30 Sold (Public Records) $20,295 Public Records
• 2000-03-01 Sold (Public Records) $59,800 Public Records

Property tax history

+11.6%/yr

Latest (2025): $2,394 · +320.7% YoY. Source: county tax records.