126 W Church St · Cowpens, SC 29330

$109,000

2 bd · 1.0 ba · 868 sqft · SingleFamily public records · 40 Days on market

Built 1930 0.30 ac lot Est $148k · 26% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property Sold AS Is. Buyers agent to verify all information for accuracy. A prequal letter and $1000 earnest money to accompany all offers.

Key facts

• Private bedroom
• 0.3 acre lot
• Built 1930

Tags

• QUICK ACCESS TO LOCAL DINING
• PRIVATE BEDROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#213 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Spartanburg 03 (suburban): math 39% / reading 49% proficiency, ranked #28 of 80 in SC (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cowpens Elementary (math 57% / reading 52%, grade C, #123 of 597 statewide, top 22%, 461 students, 100% FRL); Clifdale Middle (695 students, 78% FRL); Broome High (math 42% / reading 80%, grade C+, #105 of 196 statewide, top 54%, 825 students, 68% FRL) — zoned schools average 82% FRL vs 57% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 58% at this address vs 44% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Spartanburg 03 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 69 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $754 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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 $14k; list at $109k implies a 679% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.41% ✓
• Cap rate: 12.12%
• Cash-on-cash: 20.82%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $147,560
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
132 S Linda St	0.37mi	2/1.0	896 (+3%)	10mo	$165,000	$184	69
133 Washington Rd	0.53mi	2/1.0	864 (-0%)	13mo	$47,500	$55	64
143 Greenway Dr	0.15mi	2/1.0	980 (+13%)	14mo	$219,000	$223	60
115 Rutledge St	0.43mi	2/1.0	794 (-8%)	20mo	$135,000	$170	49
197 Washington Rd	0.66mi	2/1.0	939 (+8%)	16mo	$100,000	$106	42

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $16,039
• Equity at exit: $16,252

10-year hold

• IRR: 22.0%
• Equity multiple: 2.88×
• Total profit: $57,306
• Equity at exit: $9,424

Cash invested: $30,520 (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 29330

• Home prices YoY: -9.2%
• Active inventory: 69
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,533 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $529

Break-even live

Break-even rent $863

Max offer price $109,000

Occupancy floor 60%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5365 N Main St Apt 202 Cowpens, SC	2.0	2.0	810	$1,540	$1.90	21d	1	0.13mi
115 Anile St Unit B Cowpens, SC	2.0	2.0	1050	$1,495	$1.42	14d	1	0.65mi

Listing history 7 events

1. 2025-11-03
   status Pending
2. 2025-10-06
   status Active
3. 2025-09-09
   status Pending
4. 2025-08-28
   listed $109,000 Active
5. 2008-04-08
   soldstatus $14,000 139-char remark

   Show marketing remark (139 chars)

   Property Sold AS Is. Buyers agent to verify all information for accuracy. A prequal letter and $1000 earnest money to accompany all offers.

6. 2008-03-04
   listed $20,000 139-char remark

   Show marketing remark (139 chars)

   Property Sold AS Is. Buyers agent to verify all information for accuracy. A prequal letter and $1000 earnest money to accompany all offers.

7. 1985-10-01
   soldstatus $25,000

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $779 · $65/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $18,401
• − Mortgage interest: −$6,106
• − Property taxes: −$779
• − Insurance: −$545
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$3,171
• Taxable income: $4,856
• Est. tax owed @ 24.0%: −$1,166
• After-tax cash flow: $5,188/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: Spartanburg 03
• NCES district ID: 4503540
• Math proficiency: 39% ▼ -5.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $36,898
• Composite: 36.52/100
• National rank: #4645
• State rank: #28 of 80 in SC

Livability — Cowpens

• Score: 61/100
• State rank: #213
• US rank: #17912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cowpens, SC
• Population (ZIP): 8,720

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 2% Serbian 1%
• Foreign-born: 4% · Canada, South Korea, Jamaica
• Languages at home: 91% English-only · Spanish 6% Chinese 1% Other Asian/Pacific 1%

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: ▼ -26.81%
• Current HPI: 263.1439
• Rent YoY: —
• Metro: —
• 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

+336.0% since first listed

7 events — show timeline

• 2025-11-03 Pending — SPMLS
• 2025-10-06 Relisted — SPMLS
• 2025-09-09 Pending — SPMLS
• 2025-08-28 Listed $109,000 SPMLS
• 2008-04-08 Sold (MLS) $14,000 SPMLS
• 2008-03-04 Listed $20,000 SPMLS
• 1985-10-01 Sold (Public Records) $25,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $779 · +1.5% YoY. Source: county tax records.