Troy Plan · Greer, SC 29651

$239,900

3 bd · 2.5 ba · 1,367 sqft · SingleFamily · 30 Days on market

Good condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• Cash flow +3.8/30.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Prep dinner at the kitchen island while mingling with guests in the open-concept great room. Upstairs, the spacious primary suite features dual sinks and a walk-in closet. A convenient second-story laundry simplifies the chore.

Key facts

• Dual sinks
• Walk-in closet
• Primary suite

Tags

• KITCHEN ISLAND
• OPEN-CONCEPT GREAT ROOM
• PRIMARY SUITE
• DUAL SINKS
• WALK-IN CLOSET
• SECOND-STORY LAUNDRY

🏗️ New construction. The $239,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $362,799.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (22.9% below list).
• Recommended offer: $185k (22.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#7 in SC, #1,463 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute F.
• Spartanburg 05 (suburban): math 45% / reading 51% proficiency, ranked #13 of 80 in SC (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Abner Creek Academy (math 60% / reading 57%, grade B-, #95 of 597 statewide, top 16%, 752 students, 55% FRL); Berry Shoals Intermediate (math 54% / reading 48%, grade C, #36 of 229 statewide, top 16%, 902 students, 56% FRL); James F. Byrnes High (math 31% / reading 75%, grade C-, #140 of 196 statewide, top 72%, 2,217 students, 56% FRL) — zoned schools average 56% FRL vs 39% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 679 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $3k of loan paydown is wiped out by about $11k 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 30 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

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 $184,962 (22.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.51% ✗
• Cap rate: 2.83%
• Cash-on-cash: -12.36%
• DSCR: 0.45
• GRM: 16.3

CMA / ARV

• ARV (median comp): $362,799
• List price: $239,900
• Delta: -33.88%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Kerwin Ct	0.02mi	3/2.5	1,367 (0%)	0mo	$234,000	$171	99
820 Embark Cir	1.13mi	3/2.5	1,416 (+4%)	0mo	$209,900	$148	59
780 Embark Cir	1.18mi	3/2.5	1,416 (+4%)	2mo	$207,900	$147	58
807 Embark Cir	1.17mi	3/2.5	1,429 (+4%)	0mo	$219,900	$154	57
781 Embark Cir	1.19mi	3/2.5	1,429 (+4%)	0mo	$210,000	$147	57
779 Embark Cir	1.20mi	3/2.5	1,429 (+4%)	1mo	$220,900	$155	57
784 Embark Cir	1.18mi	3/2.5	1,416 (+4%)	2mo	$207,900	$147	57
764 Embark Cir	1.20mi	3/2.5	1,418 (+4%)	2mo	$207,000	$146	57
770 Embark Cir	1.19mi	3/2.5	1,418 (+4%)	2mo	$208,900	$147	57
822 Embark Cir	1.13mi	3/2.5	1,443 (+6%)	0mo	$225,400	$156	56
791 Embark Cir	1.18mi	3/2.5	1,443 (+6%)	0mo	$226,450	$157	55
316 Bucklebury Rd	1.08mi	3/2.0	1,550 (+13%)	1mo	$305,000	$197	40

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 · 1.62% rent growth · sell at horizon

5-year hold

• IRR: -40.6%
• Equity multiple: -0.26×
• Total profit: $-127,917
• Equity at exit: $54,095

10-year hold

• IRR: -76.1%
• Equity multiple: -1.04×
• Total profit: $-207,172
• Equity at exit: $31,368

Cash invested: $101,584 (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 →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $284,900 ($198/sqft)
• Median days on market: 68 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +34.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29651

• Home prices YoY: -29.4%
• Rents YoY: 1.6%
• Active inventory: 679
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$1,903
• Tax est. 1.5%: −$453 /mo · $5,442/yr
• Insurance: −$151
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-1,046

Break-even live

Break-even rent $3,174

Max offer price $211,438

Occupancy floor —

Sensitivity live

Price	-10% $-795	-5% $-921	+0% $-1,046	+5% $-1,171	+10% $-1,297
Rent	-10% $-1,192	-5% $-1,119	+0% $-1,046	+5% $-973	+10% $-900
Rate	-1.0pp $-863	-0.5pp $-954	base $-1,046	+0.5pp $-1,140	+1.0pp $-1,236

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: $90,700
• Closing costs: $10,884
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Embark Cir Greer, SC	3.0	2.0	1740	$1,700	$0.98	109d	1	1.15mi
784 Embark Cir Greer, SC	3.0	2.5	1492	$1,990	$1.33	6d	1	1.18mi
766 Embark Cir Greer, SC	3.0	2.5	1416	$1,600	$1.13	1d	1	1.20mi
773 Embark Cir Greer, SC	3.0	2.5	1462	$1,650	$1.13	6d	1	1.21mi
769 Embark Cir Greer, SC	3.0	2.5	1462	$1,650	$1.13	6d	1	1.21mi
753 Embark Cir Greer, SC	3.0	2.5	1429	$1,650	$1.15	6d	1	1.23mi
1456 Donhill Dr Greer, SC	3.0	2.0	1148	$2,100	$1.83	117d	1	1.34mi
377 Echo Cir Greer, SC	2.0	2.5	1073	$1,449	$1.35	6d	1	1.37mi
1428 Donhill Dr Greer, SC	3.0	2.5	1475	$2,200	$1.49	117d	1	1.39mi

Property features AI

Finance

• Other: Address: 117 Kerwin Ct, Greer, SC 29651Listing status: Active
• Financial info: List price $239,900

Exterior

• Home design: Single-family home (Troy plan)Plan inventory type
• Construction: New construction (plan)Living area approximately 1,367

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom (2.5 total)
• Interior features: Active new construction plan (Troy)

Listing history 50 events

1. 2026-08-14
   days on market $239,900 Active 30 DOM
2. 2026-08-13
   days on market $239,900 Active 29 DOM
3. 2026-08-12
   days on market $239,900 Active 28 DOM
4. 2026-08-11
   days on market $239,900 Active 27 DOM
5. 2026-08-10
   days on market $239,900 Active 26 DOM
6. 2026-08-09
   days on market $239,900 Active 25 DOM
7. 2026-08-08
   days on market $239,900 Active 24 DOM
8. 2026-08-07
   pricedays on market $239,900 Active 23 DOM
9. 2026-08-06
   days on market $234,900 Active 22 DOM
10. 2026-08-05
    days on market $234,900 Active 21 DOM
11. 2026-08-04
    days on market $234,900 Active 20 DOM
12. 2026-08-03
    days on market $234,900 Active 19 DOM
13. 2026-07-31
    days on market $234,900 Active 16 DOM
14. 2026-07-30
    days on market $234,900 Active 15 DOM
15. 2026-07-29
    pricedays on market $234,900 Active 14 DOM
16. 2026-07-27
    days on market $239,900 Active 12 DOM
17. 2026-07-25
    days on market $239,900 Active 10 DOM
18. 2026-07-23
    days on market $239,900 Active 8 DOM
19. 2026-07-22
    days on market $239,900 Active 7 DOM
20. 2026-07-21
    days on market $239,900 Active 6 DOM
21. 2026-07-18
    days on market $239,900 Active 3 DOM
22. 2026-07-16
    days on marketlisting id $239,900 Active 1 DOM
23. 2026-07-14
    days on market $239,900 Active 223 DOM
24. 2026-07-13
    days on market $239,900 Active 222 DOM
25. 2026-07-12
    days on market $239,900 Active 221 DOM
26. 2026-07-11
    days on market $239,900 Active 220 DOM
27. 2026-07-10
    days on market $239,900 Active 219 DOM
28. 2026-07-09
    days on market $239,900 Active 218 DOM
29. 2026-07-08
    days on market $239,900 Active 217 DOM
30. 2026-07-07
    days on market $239,900 Active 216 DOM
31. 2026-07-06
    pricedays on market $239,900 Active 215 DOM
32. 2026-07-05
    days on market $224,900 Active 214 DOM
33. 2026-07-04
    days on market $224,900 Active 213 DOM
34. 2026-07-03
    days on market $224,900 Active 212 DOM
35. 2026-07-02
    days on market $224,900 Active 211 DOM
36. 2026-07-01
    days on market $224,900 Active 210 DOM
37. 2026-06-30
    days on market $224,900 Active 209 DOM
38. 2026-06-29
    days on market $224,900 Active 208 DOM
39. 2026-06-28
    days on market $224,900 Active 207 DOM
40. 2026-06-28
    days on market $224,900 Active 206 DOM
41. 2026-06-27
    days on market $224,900 Active 205 DOM
42. 2026-06-25
    days on market $224,900 Active 203 DOM
43. 2026-06-23
    days on market $224,900 Active 201 DOM
44. 2026-06-22
    days on market $224,900 Active 200 DOM
45. 2026-06-18
    days on market $224,900 Active 197 DOM
46. 2026-06-17
    days on market $224,900 Active 196 DOM
47. 2026-06-16
    days on market $224,900 Active 195 DOM
48. 2026-06-15
    days on market $224,900 Active 194 DOM
49. 2026-06-14
    days on market $224,900 Active 192 DOM
50. 2026-06-13
    days on market $224,900 Active 191 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $22,195
• − Mortgage interest: −$20,322
• − Property taxes: −$5,442
• − Insurance: −$1,814
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$10,554
• Taxable loss: −$19,488
• Est. tax savings @ 24.0%: +$4,677
• After-tax cash flow: $-7,875/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.

Condition & rehab AI · 4 photos

Good 75/100 Cosmetic rehab Est. rehab $6,835–$20,505 screening

This home is in good condition with a modern and well-maintained interior and exterior. It has the potential for minor updates to further enhance its value and appeal to potential buyers/renters.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring to a more modern style — Modern flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances to the latest models — Modern appliances can increase the home's appeal and functionality. ↑
• Both Adding smart home features — Smart home features can enhance convenience and appeal to potential buyers/renters. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 64/100

Zoned Schools

Elementary Abner Creek Academy B- SC #95/597 Nat'l #8,158/41,679 Middle Florence Chapel Middle C- SC #42/229 Nat'l #4,042/14,009 High James Byrnes Freshman Academy A SC #12/196 Nat'l #704/17,239

Schools (NCES district)

• District: Spartanburg 05
• NCES district ID: 4503600
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $52,127
• Composite: 41.31/100
• National rank: #3512
• State rank: #13 of 80 in SC

A Composite livability gradescore 81/100

Livability — Greer

• Score: 81/100
• State rank: #7
• US rank: #1463

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greenville County · 325,495 people
• City population: 99,092
• Metro: Greenville-Anderson, SC
• Population (ZIP): 56,599
• Household income: $82,705
• Rent vs Own: 19.2% rent · 80.8% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Black 11% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 1%

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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: ▼ -101.81%
• Current HPI: 243.9051
• Rent YoY: ▲ 1.62%
• Metro: Greenville-Anderson, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Property features AI

Finance

• Other: Address: 117 Kerwin Ct, Greer, SC 29651Listing status: Active
• Financial info: List price $239,900

Exterior

• Home design: Single-family home (Troy plan)Plan inventory type
• Construction: New construction (plan)Living area approximately 1,367

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom (2.5 total)
• Interior features: Active new construction plan (Troy)