203 Poplar St · Gaffney, SC 29341

$62,500

3 bd · 1.0 ba · 1,530 sqft · SingleFamily public records · 18 Days on market

Built 1950 9,148 sqft lot ↓ 22% 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

Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

Key facts

• 9,148 sq ft lot
• Built 1950
• Listed 18 days

Property features AI

Exterior

• Parking: Gravel driveway
• Utilities: Public water
• Home design: Single family residence; Two levels
• Construction: Vinyl siding
• Exterior features: Porch; Corner lot; Level lot; Wooded lot; Outbuilding

Interior

• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air (electric); Natural gas forced air heating
• Interior features: Insulated windows; Fireplace; Partial unfinished basement
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% 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: Gaffney Middle (math 25% / reading 37%, grade F, #128 of 229 statewide, top 58%, 921 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: 196 active listings in the ZIP; 1 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 $432 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $61,562 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 1.84% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.72%
• DSCR: 2.37
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $183,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Poplar St	0.00mi	3/1.0	1,550 (+1%)	1mo	$62,500	$40	97
823 W Smith Street St	0.11mi	2/1.0 (-1)	1,440 (-6%)	11mo	$160,000	$111	71
1168 W Rutledge Ave	0.70mi	3/2.0	1,580 (+3%)	4mo	$309,900	$196	55
103 Calton Dr	0.68mi	3/2.0	1,548 (+1%)	10mo	$185,000	$120	54
508 W Frederick St	0.31mi	2/1.0 (-1)	1,316 (-14%)	6mo	$72,000	$55	52
510 W Frederick St	0.30mi	4/2.0 (+1)	1,656 (+8%)	18mo	$85,000	$51	48
1172 W Rutledge Ave	0.71mi	3/2.0	1,757 (+15%)	3mo	$330,000	$188	36
933 N Granard St	0.70mi	4/2.5 (+1)	1,622 (+6%)	21mo	$205,000	$126	29

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: 25.5%
• Equity multiple: 2.05×
• Total profit: $18,446
• Equity at exit: $9,319

10-year hold

• IRR: 33.2%
• Equity multiple: 4.03×
• Total profit: $52,955
• Equity at exit: $5,404

Cash invested: $17,500 (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: 196
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,152 medium
• Mortgage (P&I): −$328
• Tax from tax record: −$109 /mo · $1,302/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $448

Break-even live

Break-even rent $585

Max offer price $62,500

Occupancy floor 56%

Sensitivity live

Price	-10% $483	-5% $466	+0% $448	+5% $430	+10% $413
Rent	-10% $357	-5% $403	+0% $448	+5% $494	+10% $539
Rate	-1.0pp $480	-0.5pp $464	base $448	+0.5pp $432	+1.0pp $415

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	17d	5	0.41mi

Listing history 10 events

1. 2026-05-05
   status Pending
2. 2026-04-28
   price $62,500
3. 2026-04-23
   price $67,500
4. 2026-04-17
   listed $72,500 Active
5. 2025-04-02
   soldstatus $64,900 Sold 598-char remark

   Show marketing remark (598 chars)

   Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

6. 2025-03-17
   status Pending 598-char remark

   Show marketing remark (598 chars)

   Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

7. 2025-03-12
   price $64,900 598-char remark

   Show marketing remark (598 chars)

   Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

8. 2025-03-01
   price $69,900 598-char remark

   Show marketing remark (598 chars)

   Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

9. 2025-02-19
   price $74,900 598-char remark

   Show marketing remark (598 chars)

   Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

10. 2025-02-11
    listed $79,900 Active 598-char remark

    Show marketing remark (598 chars)

    Near Downtown Gaffney; 3 Bedroom and 1 Bath approx 1550 sqft 2-Story Home (rooms on 2nd level have lower ceiling height); Home Needs A Lot of Work (per the prior owner Some Electrical and Some Plumbing Updated in 2010; HVAC was replaced in 2021 is not working); Vinyl Windows; Large Kitchen with Breakfast Area; Nice Front Porch; Level Lot; To Be Sold AS-IS; Seller Does not Want to Make Any Repairs; Cash Purchase or Private Finance (such as LOC or similar with no appraisal or finance contingencies); Seller Prefers to Close with Michael Warren Atty; Seller is South Carolina Real Estate Licensee

ⓘ 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: $1,302 · $109/mo
• Projected year-2 tax: $1,302 · $109/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 3/10 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,829
• − Mortgage interest: −$3,501
• − Property taxes: −$1,302
• − Insurance: −$312
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − Depreciation: −$1,818
• Taxable income: $4,682
• Est. tax owed @ 24.0%: −$1,124
• After-tax cash flow: $4,253/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

-21.8% since first listed

10 events — show timeline

• 2026-05-05 Pending — SPMLS
• 2026-04-28 Price Changed $62,500 SPMLS
• 2026-04-23 Price Changed $67,500 SPMLS
• 2026-04-17 Listed $72,500 SPMLS
• 2025-04-02 Sold (MLS) $64,900 Greater Greenville MLS
• 2025-03-17 Pending — Greater Greenville MLS
• 2025-03-12 Price Changed $64,900 Greater Greenville MLS
• 2025-03-01 Price Changed $69,900 Greater Greenville MLS
• 2025-02-19 Price Changed $74,900 Greater Greenville MLS
• 2025-02-11 Listed $79,900 Greater Greenville MLS

Property tax history

+8.5%/yr

Latest (2025): $1,302 · +4.2% YoY. Source: county tax records.