213 Caulder Cir · Spartanburg, SC 29306

$89,000

2 bd · 1.0 ba · 952 sqft · SingleFamily public records · 114 Days on market

Built 1962 7,840 sqft lot Est $154k · 42% under

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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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +9.0/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! This home is waiting for it's new owner to make it one-of-a-kind! 213 Caulder Circle has recently built and renovated homes all around it. ~5 minute drive to Downtown Spartanburg and a short walk or bike ride on the new Mary Wright Greenway bike trail to Rumley and S Converse Parks! Sold as-is. No appraisal required repairs will be made, discuss this with the lender prior to offer submissions.

Key facts

• 7,840 sq ft lot
• Garage
• Listed 114 days

Tags

• SHORT WALK TO RUMLEY PARK
• SHORT WALK TO S CONVERSE PARKS

Property features AI

Finance

• Other: Lead-based paint disclosure required; Residential property disclosure required
• HOA & community: No HOA fees

Exterior

• Parking: See remarks for parking/garage details
• Utilities: Public water; Electric water heater; Public sewer; Public garbage pickup; Electric power
• Home design: Single-story home; Older home (approx. 50+ years); Crawl space foundation
• Construction: Block and wood exterior; Composition shingle roof
• Exterior features: Front porch; Lot gently sloped with some trees; Lot size: 1/2 acre or less

Interior

• Kitchen: Kitchen approximately 13 x 13; Appliances: See remarks
• Bedrooms: Primary bedroom on main level; Two bedrooms on the main level (both approximately 13 x 13)
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: One full bathroom (on main level)
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Laminate countertops; See remarks for additional interior features
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.9% in Spartanburg — 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 76/100 on livability (#24 in SC, #3,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Spartanburg 07 (urban): math 34% / reading 41% proficiency, ranked #39 of 80 in SC (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mary H. Wright Elementary (math 22% / reading 22%, grade F, #475 of 597 statewide, top 81%, 455 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 38% district-wide (-16 pts) — the specific schools serving this property underperform the Spartanburg 07 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.5%/yr); 234 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $615 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 + 3.5% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• 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 $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is F 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?
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: 1.40% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $154,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208B Collins Ave	0.29mi	2/2.0	954 (+0%)	1mo	$166,000	$174	82
308 Appian Dr	0.15mi	2/2.0	961 (+1%)	11mo	$203,000	$211	78
106 Nevada St	0.15mi	3/1.0 (+1)	1,041 (+9%)	1mo	$119,900	$115	72
270 Rev Wilson Dr	0.21mi	2/1.0	832 (-13%)	1mo	$119,900	$144	68
128 Owens St	0.38mi	3/2.0 (+1)	960 (+1%)	10mo	$155,000	$161	64
382 Caulder Ave Ave	0.21mi	2/1.0	1,080 (+13%)	9mo	$72,500	$67	61
102 Arlo Ct	0.55mi	2/1.0	881 (-8%)	3mo	$142,500	$162	60
163 East Columbia Avenue Ave	0.21mi	3/1.0 (+1)	1,064 (+12%)	11mo	$167,000	$157	57
119 George St	0.40mi	3/1.0 (+1)	1,017 (+7%)	12mo	$178,000	$175	55
201 South Carolina Ave	0.49mi	2/1.5	1,050 (+10%)	4mo	$167,000	$159	54
609 S Irwin Ave Ave	0.61mi	2/1.0	1,034 (+9%)	8mo	$185,000	$179	50
139 Carolina Ave	0.41mi	3/2.0 (+1)	1,089 (+14%)	3mo	$179,500	$165	45

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $3,367
• Equity at exit: $13,270

10-year hold

• IRR: 13.6%
• Equity multiple: 2.11×
• Total profit: $27,726
• Equity at exit: $7,695

Cash invested: $24,920 (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 29306

• Home prices YoY: -29.9%
• Rents YoY: 3.5%
• Active inventory: 234
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,250 high
• Mortgage (P&I): −$467
• Tax from tax record: −$215 /mo · $2,580/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $269

Break-even live

Break-even rent $910

Max offer price $89,000

Occupancy floor 73%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
938 Logan St Unit A Spartanburg, SC	2.0	2.5	980	$1,600	$1.63	21d	1	0.47mi
118 Morningside Dr Spartanburg, SC	2.0	1.0	800	$850	$1.06	21d	1	0.56mi
116 Morningside Dr Spartanburg, SC	2.0	1.0	800	$850	$1.06	21d	1	0.57mi
88 W Park Dr Unit H Spartanburg, SC	2.0	1.0	950	$875	$0.92	21d	1	0.64mi
630 S Converse St Spartanburg, SC	2.0	1.0	912	$995	$1.09	21d	1	0.69mi
111 Timothy St Spartanburg, SC	2.0	1.0	1100	$1,600	$1.45	21d	1	0.78mi
102 Harvard Dr Spartanburg, SC	2.0	1.0	1000	$1,300	$1.30	13d	1	0.81mi
334 W Hampton Ave Unit 1 Spartanburg, SC	2.0	1.0	895	$1,100	$1.23	21d	1	0.81mi
624 Crescent Ave Unit 1 Spartanburg, SC	2.0	1.0	819	$1,000	$1.22	21d	1	0.82mi
300 Amherst Dr Spartanburg, SC	2.0	1.0	763	$975	$1.28	13d	1	1.08mi
327 E Kennedy St Spartanburg, SC	1.0–2.0	1.0–2.0	806	$1,654	$2.05	13d	7	1.09mi
149 S Daniel Morgan Ave Unit 2A Spartanburg, SC	1.0	1.0	800	$1,150	$1.44	21d	1	1.11mi
149 S Daniel Morgan Ave Unit 2B Spartanburg, SC	1.0	1.0	750	$1,195	$1.59	21d	1	1.11mi
174 E Main St Spartanburg, SC	1.0–2.0	1.0–2.0	760	$2,295	$3.02	13d	8	1.23mi
142 Magnolia St Unit 104 Spartanburg, SC	1.0	1.0	892	$1,600	$1.79	21d	1	1.30mi
142 Magnolia St Unit 301 Spartanburg, SC	2.0	2.0	937	$1,850	$1.97	21d	1	1.30mi
1097 Union St Spartanburg, SC	1.0–2.0	1.0–2.0	951	$2,009	$2.11	13d	21	1.35mi
142 Magnolia St Unit 101 Spartanburg, SC	1.0	1.0	680	$1,400	$2.06	21d	1	1.36mi

Listing history 20 events

1. 2026-06-18
   days on market $89,000 Active 114 DOM
2. 2026-06-17
   days on market $89,000 Active 113 DOM
3. 2026-06-16
   days on market $89,000 Active 112 DOM
4. 2026-06-15
   days on market $89,000 Active 111 DOM
5. 2026-06-14
   days on market $89,000 Active 109 DOM
6. 2026-06-13
   days on market $89,000 Active 108 DOM
7. 2026-06-10
   days on market $89,000 Active 106 DOM
8. 2026-06-09
   days on market $89,000 Active 105 DOM
9. 2026-06-08
   days on market $89,000 Active 104 DOM
10. 2026-06-07
    days on market $89,000 Active 103 DOM
11. 2026-06-02
    days on market $89,000 Active 98 DOM
12. 2026-06-01
    days on market $89,000 Active 97 DOM
13. 2026-05-31
    days on market $89,000 Active 96 DOM
14. 2026-05-30
    days on market $89,000 Active 95 DOM
15. 2026-02-24
    listed $89,000 Active 414-char remark

    Show marketing remark (414 chars)

    INVESTOR SPECIAL! This home is waiting for it's new owner to make it one-of-a-kind! 213 Caulder Circle has recently built and renovated homes all around it. ~5 minute drive to Downtown Spartanburg and a short walk or bike ride on the new Mary Wright Greenway bike trail to Rumley and S Converse Parks! Sold as-is. No appraisal required repairs will be made, discuss this with the lender prior to offer submissions.

16. 2026-02-24
    listed $89,000 Active

    Show marketing remark (414 chars)

    INVESTOR SPECIAL! This home is waiting for it's new owner to make it one-of-a-kind! 213 Caulder Circle has recently built and renovated homes all around it. ~5 minute drive to Downtown Spartanburg and a short walk or bike ride on the new Mary Wright Greenway bike trail to Rumley and S Converse Parks! Sold as-is. No appraisal required repairs will be made, discuss this with the lender prior to offer submissions.

17. 2022-04-20
    historical
18. 2022-04-11
    historical Contingency Contract
19. 2022-03-24
    listed $99,000 Active
20. 2021-09-14
    soldstatus $80,000

ⓘ 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: $2,580 · $215/mo
• Projected year-2 tax: $2,580 · $215/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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $15,002
• − Mortgage interest: −$4,985
• − Property taxes: −$2,580
• − Insurance: −$445
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,589
• Taxable income: $2,003
• Est. tax owed @ 24.0%: −$481
• After-tax cash flow: $2,746/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 07
• NCES district ID: 4503660
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $35,825
• Composite: 31.04/100
• National rank: #6087
• State rank: #39 of 80 in SC

Livability — Spartanburg

• Score: 76/100
• State rank: #24
• US rank: #3679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spartanburg, SC
• County: Spartanburg County · 258,607 people
• City population: 120,406
• Metro: Spartanburg, SC
• Population (ZIP): 16,714
• Household income: $41,356
• Rent vs Own: 54.5% rent · 45.5% own
• Severe rent burden: 1064.0

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 0.61)
• Race & ethnicity: Black 50% White 36% Hispanic / Latino 10% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 1% Serbian 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -90.67%
• Current HPI: 213.1266
• Rent YoY: ▲ 3.46%
• 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

+11.2% since first listed

6 events — show timeline

• 2026-02-24 Listed $89,000 Greater Greenville MLS
• 2026-02-24 Listed $89,000 SPMLS
• 2022-04-20 Listing Removed — Greater Greenville MLS
• 2022-04-11 Contingent — Greater Greenville MLS
• 2022-03-24 Listed $99,000 Greater Greenville MLS
• 2021-09-14 Sold (Public Records) $80,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,580 · +0.6% YoY. Source: county tax records.