1612 Chestnut Grove Way Unit CMD 352 Crane A · Wellford, SC 29303

$254,999

4 bd · 2.5 ba · 1,955 sqft · SingleFamily · 73 Days on market

Built 2026 Excellent condition 6,534 sqft lot Est $278k · 8% under $31/mo HOA · 1% of rent ↓ 2% since listing

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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 +11.8/30.0
• ARV discount +11.2/15.0
• Condition / age +4.8/5.0
• 1% rule +3.6/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home features a stunning kitchen with a large quartz island, lots of cabinets and counter space great for prepping those delicious meals. The great room is right off the kitchen and is a wonderful place for entertaining. Beautiful open railing leads the way upstairs to the loft, walk in laundry room, 3 additional bedrooms and owner's suite. Cleveland Meadows is a pool community conveniently located with easy access to I-85 and I-26. A quick drive to Greenville and Spartanburg's unique boutiques, great galleries, terrific restaurants, breweries and wineries, GSP International Airport, BMW and many other industries makes this a great location to live and play.

Key facts

• Spacious great room
• Laundry room
• Large island

Tags

• QUARTZ COUNTER TOPS
• LARGE ISLAND
• TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES
• SPACIOUS GREAT ROOM
• LAUNDRY ROOM

Property features AI

Finance

• Other: Community amenities: pool, playground, lights
• HOA & community: Homeowners association present; HOA includes pool, playground, community lights, and enforces pet restrictions and restrictive covenants

Exterior

• Parking: Attached 2-car garage; Paved concrete driveway; Garage provides storage space
• Security: Smoke detector
• Utilities: Public water; Public sewer; Electric water heater; Private garbage pickup; Electric power
• Home design: Single-story home; Model: Crane; Under construction (approximate completion 2025), year built listed 2026; Slab foundation
• Construction: Composition shingle roof; Stone and vinyl siding construction; Slab foundation; Approximate year built 2026 (under construction)
• Exterior features: Tilt-out windows; Stone and vinyl siding exterior; Underground utilities

Interior

• Kitchen: Dishwasher; Garbage disposal; Gas range (stand-alone); Built-in microwave; Pantry closet
• Bedrooms: Primary bedroom on main level with double sink, shower-only bath, and walk-in closet (master approx. 19 x 13); Second bedroom approx. 11 x 10; Third bedroom approx. 11 x 10; Fourth bedroom approx. 10 x 10
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central electric cooling; Electric water heater
• Interior features: Disappearing attic stairs; Smooth ceilings; Solid surface countertops; Quartz countertops; Open floor plan; Pantry closet; Smoke detector
• Laundry & utility: Laundry on first floor

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $255k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-69 ($-823/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (14.4% below list).
• Recommended offer: $218k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.9% in Wellford — 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 70/100 on livability (#59 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Spartanburg 06 (suburban): math 33% / reading 42% proficiency, ranked #35 of 80 in SC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairforest Elementary (math 32% / reading 32%, grade F, #369 of 597 statewide, top 64%, 782 students, 82% FRL) — zoned schools average 82% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 378 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• At $2,183/mo this rent would consume 54% of the median local household income ($48k/yr) (locally 1218% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 73 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $218,308 (14.4% 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 73 days. Have you received any prior offers? Is the seller open to a 14% 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 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?
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: 0.86% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $277,610
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1396 Hugh Mack Ct Unit CMD 305 Crane A	0.10mi	4/2.5	1,955 (0%)	1mo	$267,604	$137	94
1393 Hugh Mack Ct Unit CMD 371 Crane B	0.10mi	4/2.5	1,955 (0%)	1mo	$266,500	$136	94
1057 Gagmon Dr	0.42mi	4/2.5	1,991 (+2%)	0mo	$282,900	$142	77
1037 Gagmon Dr	0.42mi	4/2.5	1,991 (+2%)	3mo	$287,990	$145	75
1048 Gagmon Dr	0.46mi	4/2.5	1,991 (+2%)	1mo	$282,500	$142	74
16 Fort Prince Ct	0.43mi	3/2.5 (-1)	1,873 (-4%)	2mo	$351,888	$188	66
100 Brandon Dr	0.37mi	3/2.0 (-1)	2,070 (+6%)	1mo	$349,000	$169	65
1053 Gagmon Dr	0.42mi	4/2.0	1,764 (-10%)	2mo	$279,000	$158	61
1045 Gagmon Dr	0.42mi	4/2.5	2,163 (+11%)	3mo	$290,900	$134	60
1052 Gagmon Dr	0.46mi	4/2.5	2,164 (+11%)	1mo	$290,900	$134	60
1044 Gagmon Dr	0.46mi	4/2.0	1,764 (-10%)	2mo	$279,900	$159	59
1032 Gagmon Dr	0.46mi	4/2.5	2,164 (+11%)	3mo	$290,000	$134	58

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 · 3.69% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.38×
• Total profit: $-44,112
• Equity at exit: $38,021

10-year hold

• IRR: -8.1%
• Equity multiple: 0.48×
• Total profit: $-37,478
• Equity at exit: $22,048

Cash invested: $71,400 (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 29303

• Home prices YoY: -14.1%
• Rents YoY: 3.7%
• Active inventory: 378
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,183 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA: −$31
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $-69

Break-even live

Break-even rent $2,270

Max offer price $245,071

Occupancy floor 98%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1368 Hugh Mack Ct Spartanburg, SC	5.0	3.0	2577	$2,250	$0.87	21d	1	0.12mi
1007 Cleveland Meadows Trl Spartanburg, SC	4.0	2.5	1955	$2,079	$1.06	14d	1	0.19mi
2122 Brechin Rd Spartanburg, SC	5.0	3.0	2577	$2,250	$0.87	21d	1	0.24mi
693 Grays Creek Rd Spartanburg, SC	4.0	3.0	2200	$2,050	$0.93	21d	1	1.31mi

HOA detail

• Monthly dues: $31 · $372/yr
• Likely covers: pool

Listing history 20 events

1. 2026-06-18
   days on market $254,999 Active 73 DOM
2. 2026-06-17
   days on market $254,999 Active 72 DOM
3. 2026-06-16
   days on market $254,999 Active 71 DOM
4. 2026-06-15
   price $254,999 Active 70 DOM
5. 2026-06-15
   days on market $249,999 Active 70 DOM
6. 2026-06-14
   days on market $249,999 Active 68 DOM
7. 2026-06-13
   pricedays on market $249,999 Active 67 DOM
8. 2026-06-10
   days on market $251,999 Active 65 DOM
9. 2026-06-09
   days on market $251,999 Active 64 DOM
10. 2026-06-09
    price $251,999 Active 63 DOM
11. 2026-06-08
    days on market $263,999 Active 63 DOM
12. 2026-06-07
    days on market $263,999 Active 62 DOM
13. 2026-06-02
    days on market $263,999 Active 57 DOM
14. 2026-06-01
    days on market $263,999 Active 56 DOM
15. 2026-05-31
    days on market $263,999 Active 55 DOM
16. 2026-05-30
    days on market $263,999 Active 54 DOM
17. 2026-05-21
    price $264,999

    Show marketing remark (671 chars)

    This home features a stunning kitchen with a large quartz island, lots of cabinets and counter space great for prepping those delicious meals. The great room is right off the kitchen and is a wonderful place for entertaining. Beautiful open railing leads the way upstairs to the loft, walk in laundry room, 3 additional bedrooms and owner's suite. Cleveland Meadows is a pool community conveniently located with easy access to I-85 and I-26. A quick drive to Greenville and Spartanburg's unique boutiques, great galleries, terrific restaurants, breweries and wineries, GSP International Airport, BMW and many other industries makes this a great location to live and play.

18. 2026-05-21
    price $264,999 671-char remark

    Show marketing remark (671 chars)

    This home features a stunning kitchen with a large quartz island, lots of cabinets and counter space great for prepping those delicious meals. The great room is right off the kitchen and is a wonderful place for entertaining. Beautiful open railing leads the way upstairs to the loft, walk in laundry room, 3 additional bedrooms and owner's suite. Cleveland Meadows is a pool community conveniently located with easy access to I-85 and I-26. A quick drive to Greenville and Spartanburg's unique boutiques, great galleries, terrific restaurants, breweries and wineries, GSP International Airport, BMW and many other industries makes this a great location to live and play.

19. 2026-04-06
    listed $269,604 Active 671-char remark

    Show marketing remark (671 chars)

    This home features a stunning kitchen with a large quartz island, lots of cabinets and counter space great for prepping those delicious meals. The great room is right off the kitchen and is a wonderful place for entertaining. Beautiful open railing leads the way upstairs to the loft, walk in laundry room, 3 additional bedrooms and owner's suite. Cleveland Meadows is a pool community conveniently located with easy access to I-85 and I-26. A quick drive to Greenville and Spartanburg's unique boutiques, great galleries, terrific restaurants, breweries and wineries, GSP International Airport, BMW and many other industries makes this a great location to live and play.

20. 2026-04-06
    listed $269,604 Active

    Show marketing remark (671 chars)

    This home features a stunning kitchen with a large quartz island, lots of cabinets and counter space great for prepping those delicious meals. The great room is right off the kitchen and is a wonderful place for entertaining. Beautiful open railing leads the way upstairs to the loft, walk in laundry room, 3 additional bedrooms and owner's suite. Cleveland Meadows is a pool community conveniently located with easy access to I-85 and I-26. A quick drive to Greenville and Spartanburg's unique boutiques, great galleries, terrific restaurants, breweries and wineries, GSP International Airport, BMW and many other industries makes this a great location to live and play.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,197
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,096
• − Management: −$2,096
• − HOA: −$372
• − Depreciation: −$7,418
• Taxable loss: −$5,169
• Est. tax savings @ 24.0%: +$1,240
• After-tax cash flow: $417/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 · 12 photos

Excellent 95/100 None rehab

This well-maintained single-family home in Cleveland Meadows offers a beautiful kitchen, spacious living areas, and a desirable location. It is move-in ready and ready for a fresh coat of paint and some minor updates to maximize its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace light fixtures — Modern light fixtures improve the home's curb appeal and interior ambiance
• Both Add outdoor lighting — Outdoor lighting enhances safety and curb appeal
• Both Upgrade HVAC system — A new HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace light fixtures — Modern light fixtures improve the home's curb appeal and interior ambiance ↑
• Both Add outdoor lighting — Outdoor lighting enhances safety and curb appeal ↑
• Both Upgrade HVAC system — A new HVAC system improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Spartanburg 06
• NCES district ID: 4503630
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $46,110
• Composite: 32.02/100
• National rank: #5827
• State rank: #35 of 80 in SC

Livability — Wellford

• Score: 70/100
• State rank: #59
• US rank: #7484

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• City population: 422
• Metro: Spartanburg, SC
• Population (ZIP): 28,381
• Household income: $48,295
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1218.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 42% Black 36% Hispanic / Latino 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Subsaharan African 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 2% 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: ▼ -45.19%
• Current HPI: 274.443
• Rent YoY: ▲ 3.69%
• Metro: Spartanburg, 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

-1.7% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $264,999 Greater Greenville MLS
• 2026-05-21 Price Changed $264,999 SPMLS
• 2026-04-06 Listed $269,604 SPMLS
• 2026-04-06 Listed $269,604 Greater Greenville MLS