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404 Alicat Dr
D+ Composite 45.43
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 +10.9/30.0
  • ARV discount +10.5/15.0
  • Condition / age +5.0/5.0
  • Schools +4.7/10.0
  • Livability +4.4/5.0
  • 1% rule +3.7/10.0
  • DSCR +3.2/10.0
  • Rent growth +3.2/5.0
  • Appreciation +0.0/10.0

$243,990

404 Alicat Dr · Simpsonville, SC 29680
3 bd · 2.5 ba · 1,600 sqft · Townhouse · 99 Days on market
Built 2026 Excellent condition 1,742 sqft lot 1-car garage $152/sqft · 7% below area Est $261k · 7% under $100/mo HOA · 5% of rent ↓ 7% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Modern Comfort, Open Spaces, Effortless Living Spacious, open concept kitchen with a 9 foot centered island sits adjacent to the airy family room and breakfast room Main level powder room and coat closet in entryway with 9 foot ceilings The roomy primary suite boasts a spacious walk-in closet and an en suite primary bathroom with a dual vanity, water closet, and walk-in shower Oak stairs The second level includes two secondary bedrooms, each with walk-in closets, a secondary bathroom, and the laundry room Easy outdoor access with built-in shed Home includes 1 car garage with 2 car parking pad Step into modern living designed for you-schedule your private showing today!

Key facts

  • Outdoor living patio
  • Upstairs laundry
  • $100 HOA

Tags

EASY ACCESS TO INTERSTATESLIGHT FILLED OPEN FLOOR PLANLARGE ISLAND IN KITCHENOUTDOOR LIVING PATIOOUTDOOR STORAGE CLOSETUPSTAIRS LAUNDRY

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.5-bath townhouse listed at $244k. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
  • To cash-flow at today's rent, offer at most $228k (6.4% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (12.9% below list).
  • Recommended offer: $212k (12.9% below list) — sets the bar for 1% rule.
  • Cap rate 5.8% vs local median 4.0% in Simpsonville — 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 87/100 on livability (#1 in SC, #295 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
  • 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: Ellen Woodside Elementary (math 46% / reading 44%, grade D-, #224 of 597 statewide, top 38%, 1,020 students, 78% FRL) — zoned schools average 78% FRL vs 42% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Market conditions: Rents rising (+2.9%/yr); 345 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 78d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 5,595 units permitted in Greenville County in 2024 (566 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.
  • Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

  • It's been on market 99 days — a 9% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
  • 2 sale attempts 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 $212,483 (12.9% 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. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
  3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  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
0.87%
Cap rate
5.76%
Cash-on-cash
-1.89%
DSCR
0.92
GRM
9.6

CMA / ARV

ARV (median comp)
$261,174
List price
$243,990
Delta
-6.58%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
412 Alicat Dr 0.01mi 3/2.5 1,600 (0%) 1mo $266,990 $167 98
5 Starks Cir 0.01mi 3/2.5 1,600 (0%) 2mo $239,990 $150 98
414 Alicat Dr 0.01mi 3/2.5 1,587 (-1%) 1mo $258,990 $163 97
11 Starks Cir 0.01mi 3/2.5 1,616 (+1%) 2mo $280,490 $174 96
408 Alicat Dr 0.02mi 3/2.5 1,616 (+1%) 2mo $283,990 $176 96
101 Starks Cir 0.01mi 3/2.5 1,587 (-1%) 3mo $250,990 $158 96
103 Starks Cir 0.01mi 3/2.5 1,616 (+1%) 3mo $263,990 $163 96
7 Starks Cir 0.01mi 3/2.5 1,587 (-1%) 4mo $273,990 $173 95
9 Starks Cir 0.01mi 3/2.5 1,616 (+1%) 4mo $284,990 $176 95
13 Starks Cir 0.01mi 3/2.5 1,651 (+3%) 3mo $256,990 $156 92
17 Beachley Pl 0.49mi 3/2.5 1,606 (+0%) 19mo $223,000 $139 60
9 Beachley Pl 0.48mi 3/2.5 1,542 (-4%) 19mo $238,000 $154 56

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 · 2.85% rent growth · sell at horizon

5-year hold
IRR
-19.6%
Equity multiple
0.32×
Total profit
$-46,613
Equity at exit
$36,380
10-year hold
IRR
-12.6%
Equity multiple
0.26×
Total profit
$-50,340
Equity at exit
$21,096

Cash invested: $68,317 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
7 active · 12 under contract
Months of supply
4.2 mo (24%/mo absorbed)
Median asking
$240,990 ($157/sqft)
Median days on market
52 d
This list price
57% of active listings are priced below it
ARV vs active asking
+3.9% vs current asking $/sqft

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

ZIP-level market 29680

Home prices YoY
-31.2%
Rents YoY
2.9%
Active inventory
345
Price-to-rent
9.6×

Monthly cashflow live

Estimated rent
$2,125 high interval (Pro) →
Mortgage (P&I)
$1,280
Tax est. 1.5%
$305 /mo · $3,660/yr
Insurance
$102
HOA
$100
Vacancy / Maint / Mgmt
$446
Net cashflow
$-108

Break-even live

Break-even rent $2,261
Max offer price $228,428
Occupancy floor

Sensitivity live

Price -10% $61 -5% $-23 +0% $-108 +5% $-192 +10% $-276
Rent -10% $-275 -5% $-191 +0% $-108 +5% $-24 +10% $60
Rate -1.0pp $15 -0.5pp $-45 base $-108 +0.5pp $-171 +1.0pp $-235

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
$60,998
Closing costs
$7,320
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 24 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
2 Winding Rock Rd Simpsonville, SC 4.0 3.0 2142 $2,295 $1.07 9d 1 0.03mi
1 Oxbow Ct Simpsonville, SC 4.0 2.5 1810 $2,110 $1.17 9d 1 0.31mi
123 Carruth St Simpsonville, SC 3.0 2.5 2056 $2,245 $1.09 99d 1 0.33mi
306 Ellis Mill St Simpsonville, SC 3.0 2.5 1400 $1,731 $1.24 4d 1 0.48mi
4 Beachley Pl Simpsonville, SC 3.0 2.5 1400 $1,650 $1.18 9d 1 0.51mi
508 Goatsbeard Ct Simpsonville, SC 4.0 2.5 2200 $2,430 $1.10 1d 1 0.54mi
35 Beachley Pl Simpsonville, SC 3.0 2.5 1601 $2,000 $1.25 80d 1 0.55mi
41 Beachley Pl Simpsonville, SC 3.0 2.5 1400 $1,650 $1.18 99d 1 0.56mi
44 Beachley Pl Simpsonville, SC 3.0 2.5 1400 $1,695 $1.21 107d 1 0.57mi
208 Riverdale Rd Simpsonville, SC 3.0 2.5 1985 $1,945 $0.98 93d 1 0.66mi
113 Blue Springs Way Simpsonville, SC 4.0 2.0 1764 $1,850 $1.05 9d 1 0.67mi
113 Riverport Dr Simpsonville, SC 4.0 2.5 2200 $2,200 $1.00 119d 1 0.68mi
135 Bayridge Rd , SC 3.0 2.0 1700 $1,950 $1.15 99d 1 0.73mi
9 Garden Hill Rd Simpsonville, SC 4.0 2.5 2207 $2,311 $1.05 9d 1 0.80mi
218 Marefair Ln Simpsonville, SC 4.0 3.0 2157 $2,300 $1.07 115d 1 0.96mi
519 Crowder Pl Piedmont, SC 4.0 3.0 2100 $2,075 $0.99 93d 1 1.00mi
3204 Fork Shoals Rd Simpsonville, SC 3.0 2.0 1456 $1,850 $1.27 9d 1 1.07mi
3 Semmelrock Dr Simpsonville, SC 4.0 2.5 2248 $2,310 $1.03 5d 1 1.09mi
101 Brentmoor Pl Simpsonville, SC 4.0 2.0 2053 $2,250 $1.10 119d 1 1.15mi
200 Groton Ct Simpsonville, SC 4.0 2.5 2194 $2,400 $1.09 78d 1 1.22mi
100 Nut Leaf Ln Greenville, SC 3.0 2.5 2148 $2,195 $1.02 2d 1 1.32mi
211 Night Heron Dr Simpsonville, SC 3.0 3.0 2000 $2,075 $1.04 9d 1 1.45mi
8 Bucklick Creek Ct Simpsonville, SC 4.0 3.0 1944 $2,200 $1.13 73d 1 1.47mi
517 Spokane Dr Simpsonville, SC 3.0 2.0 1601 $2,199 $1.37 88d 1 1.49mi

Property features AI

Finance

Other
Approximate finished living area in range 1,600–1,799 sq ft (approx. 1,600 sq ft)Storage space in garage and additional storage (see remarks)
HOA & community
Homeowners association presentHOA covers lawn maintenance and street lightsCommunity amenities include street lights and lawn maintenance

Exterior

Parking
Attached 1-car garage with door openerPaved driveway
Security
Smoke detector (interior)
Utilities
Public waterPublic sewerElectric water heaterPrivate garbage pickupAttached garage (power available)
Home design
Two-story single-family homeModel: LitchfieldUnder construction, approx. completion Sept 30, 2026Built by DRB HomesEntry facing direction not specified
Construction
Approximate year built 2026Slab foundationArchitectural roof
Exterior features
Front porchPatioTilt-out windowsVinyl sidingLevel lot

Interior

Kitchen
DishwasherDisposalGas range (stand-alone)Gas oven (self-cleaning)Built-in microwaveRefrigeratorGranite countertopsKitchen approx. 9 x 10
Bedrooms
Primary bedroom on second level with double sink, full bath, shower-only and walk-in closetBedroom sizes: Primary ~12 x 15; Second ~14 x 10; Third ~14 x 10
Flooring
CarpetLuxury vinyl tile/plank
Bathrooms
Two full baths and one half bath
Heating & cooling
Natural gas heatingElectric cooling
Interior features
Attic pull-down stairsCable available9+ ft smooth ceilingsGranite countertopsOpen floor planSmoke detectorPantry closetSmart systems pre-wiringNo fireplace listed
Laundry & utility
Laundry on 2nd floor in closet-style with electric dryer hookupWasher and dryer includedElectric water heater

HOA detail $100/mo · $1,200/yr

Likely covers
water

Listing history 50 events

  1. 2026-09-24
    days on market $243,990 Active 99 DOM
  2. 2026-09-23
    days on market $243,990 Active 98 DOM
  3. 2026-09-22
    days on market $243,990 Active 97 DOM
  4. 2026-09-21
    days on market $243,990 Active 96 DOM
  5. 2026-09-20
    days on market $243,990 Active 95 DOM
  6. 2026-09-19
    days on market $243,990 Active 94 DOM
  7. 2026-09-18
    days on market $243,990 Active 93 DOM
  8. 2026-09-17
    days on market $243,990 Active 92 DOM
  9. 2026-09-16
    days on market $243,990 Active 91 DOM
  10. 2026-09-15
    days on market $243,990 Active 90 DOM
  11. 2026-09-14
    days on market $243,990 Active 89 DOM
  12. 2026-09-13
    days on market $243,990 Active 88 DOM
  13. 2026-09-12
    days on market $243,990 Active 87 DOM
  14. 2026-09-11
    days on market $243,990 Active 86 DOM
  15. 2026-09-06
    days on market $243,990 Active 80 DOM
  16. 2026-09-04
    days on market $243,990 Active 79 DOM
  17. 2026-09-03
    days on market $243,990 Active 78 DOM
  18. 2026-08-31
    days on market $243,990 Active 75 DOM
  19. 2026-08-30
    days on market $243,990 Active 74 DOM
  20. 2026-08-29
    days on market $243,990 Active 73 DOM
  21. 2026-08-28
    days on market $243,990 Active 72 DOM
  22. 2026-08-27
    days on market $243,990 Active 71 DOM
  23. 2026-08-25
    days on market $243,990 Active 69 DOM
  24. 2026-08-24
    days on market $243,990 Active 68 DOM
  25. 2026-08-23
    days on market $243,990 Active 67 DOM
  26. 2026-08-22
    days on market $243,990 Active 66 DOM
  27. 2026-08-21
    days on market $243,990 Active 65 DOM
  28. 2026-08-20
    days on market $243,990 Active 64 DOM
  29. 2026-08-19
    days on market $243,990 Active 63 DOM
  30. 2026-08-18
    days on market $243,990 Active 62 DOM
  31. 2026-08-17
    days on market $243,990 Active 61 DOM
  32. 2026-08-16
    days on market $243,990 Active 60 DOM
  33. 2026-08-15
    days on market $243,990 Active 59 DOM
  34. 2026-08-15
    days on market $243,990 Active 58 DOM
  35. 2026-08-13
    days on market $243,990 Active 57 DOM
  36. 2026-08-12
    days on market $243,990 Active 56 DOM
  37. 2026-08-11
    days on market $243,990 Active 55 DOM
  38. 2026-08-10
    days on market $243,990 Active 54 DOM
  39. 2026-08-09
    days on market $243,990 Active 53 DOM
  40. 2026-08-08
    days on market $243,990 Active 52 DOM
  41. 2026-08-07
    days on market $243,990 Active 51 DOM
  42. 2026-08-06
    days on market $243,990 Active 50 DOM
  43. 2026-08-05
    days on market $243,990 Active 49 DOM
  44. 2026-08-04
    days on market $243,990 Active 48 DOM
  45. 2026-08-03
    days on market $243,990 Active 47 DOM
  46. 2026-07-31
    days on market $243,990 Active 44 DOM
  47. 2026-07-30
    days on market $243,990 Active 43 DOM
  48. 2026-07-30
    days on market $243,990 Active 42 DOM
  49. 2026-07-28
    days on market $243,990 Active 41 DOM
  50. 2026-07-26
    days on market $243,990 Active 39 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 1/10 Low
  • 🌡 Heat 6/10 Major 7 d/yr ≥104°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 3 unhealthy d/yr today · 4 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$25,498
− Mortgage interest
−$13,667
− Property taxes
−$3,660
− Insurance
−$1,220
− Repairs & maintenance
−$2,040
− Management
−$2,040
− HOA
−$1,200
− Depreciation
−$7,098
Taxable loss
−$5,427
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,302
After-tax cash flow
$12/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 · 6 photos

Excellent 100/100 None rehab

This modern townhouse is move-in ready with excellent condition and no visible repairs needed. It offers a spacious layout, modern finishes, and a well-maintained exterior, making it an attractive investment.

Value-add opportunities

  • Both Painting exterior siding — Enhances curb appeal and value.
  • Both Landscaping improvements — Enhances curb appeal and value.
  • Both Interior touch-ups — Enhances interior aesthetics and value.
F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Ellen Woodside Elementary D- SC #224/597 Nat'l #15,897/41,679 Middle Woodmont Middle F SC #139/229 Nat'l #9,020/14,009 High Woodmont High B SC #85/196 Nat'l #2,785/17,239

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
A Composite livability gradescore 87/100

Livability — Simpsonville

Score
87/100
State rank
#1
US rank
#295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County
Greenville County · 574,580 people
City population
104,420
Metro
Greenville-Anderson, SC
Population (ZIP)
35,770
Household income
$86,716
Rent vs Own
21.7% rent · 78.3% own
Severe rent burden
14% of renters

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
Diverse neighborhood (Simpson 0.60)
Race & ethnicity
White 57% Black 24% Two or more races 10% Hispanic / Latino 9% Asian 2%
Hispanic origin (detail)
Mexican 2% Puerto Rican 2%
Common ancestry
Lithuanian 2% Slovak 2% Italian 2%
Foreign-born
8% · Canada, Jamaica
Languages at home
89% English-only · Spanish 7% French/Haitian/Cajun 1% Other Indo-European 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

Price history

-7.2% since first listed
4 events — show timeline
  • 2026-06-19 Price Changed $243,990 Zillow
  • 2026-06-19 Price Changed $243,990 Greater Greenville MLS
  • 2026-06-17 Listed $242,990 Zillow
  • 2026-06-17 Listed $262,990 Greater Greenville MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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