2042 Evergreen Dr · Valley Falls, SC 29316

$170,000

3 bd · 2.0 ba · 2,088 sqft · SingleFamily public records · 20 Days on market

Built 1969 0.41 ac lot Est $282k · 40% under

---

Why this score? — see what drove the C+ 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

Key facts

• Large backyard
• Cozy fireplace
• Workshop

Tags

• BRICK RANCH
• COZY FIREPLACE
• LARGE BACKYARD
• PATIO
• WORKSHOP
• EASY ACCESS TO SPARTANBURG

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (0.7% below list).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.9% in Valley Falls — 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 69/100 on livability (#72 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, amenities F, employment D-.
• Spartanburg 02 (suburban): math 49% / reading 56% proficiency, ranked #6 of 80 in SC (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James H. Hendrix Elementary (math 55% / reading 45%, grade D+, #163 of 597 statewide, top 28%, 694 students, 89% FRL); Boiling Springs Middle (math 39% / reading 50%, grade D, #52 of 229 statewide, top 23%, 1,068 students, 70% FRL); Boiling Springs High (math 62% / reading 88%, grade A-, #37 of 196 statewide, top 18%, 2,671 students, 60% FRL) — zoned schools average 73% FRL vs 44% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 460 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 20 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $116k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $281,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Shadow Dance Ln Ln	0.40mi	3/2.5	2,172 (+4%)	1mo	$275,000	$127	72
3038 Elmhurst Dr	0.18mi	3/2.0	1,860 (-11%)	7mo	$251,000	$135	67
120 Woodshire Dr	0.37mi	4/2.5 (+1)	1,998 (-4%)	4mo	$185,000	$93	65
157 Stonewood Crossing Dr	0.56mi	3/2.5	2,066 (-1%)	11mo	$305,000	$148	61
161 Stonewood Crossing Dr	0.54mi	3/2.5	2,240 (+7%)	1mo	$275,000	$123	60
522 Hemlock Dr	0.07mi	4/3.0 (+1)	2,368 (+13%)	8mo	$255,000	$108	59
415 Standing Rock Dr	0.67mi	3/2.5	2,052 (-2%)	6mo	$253,500	$124	59
273 Stonewood Crossing Dr	0.58mi	3/2.5	1,882 (-10%)	2mo	$265,000	$141	53
272 Stonewood Crossing Dr	0.56mi	3/2.5	1,886 (-10%)	5mo	$250,000	$133	51
746 Tinder Box Ct	0.53mi	3/2.5	2,287 (+10%)	10mo	$318,900	$139	49
662 Branch View Dr	0.52mi	4/2.0 (+1)	1,893 (-9%)	8mo	$310,000	$164	49
535 Branch Wood Dr	0.59mi	3/2.5	1,861 (-11%)	10mo	$297,500	$160	44

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 · 0.69% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-13,210
• Equity at exit: $25,348

10-year hold

• IRR: -1.1%
• Equity multiple: 0.93×
• Total profit: $-3,272
• Equity at exit: $14,698

Cash invested: $47,600 (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 29316

• Home prices YoY: -18.9%
• Rents YoY: 0.7%
• Active inventory: 460
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,687 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$85 /mo · $1,015/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $286

Break-even live

Break-even rent $1,325

Max offer price $170,000

Occupancy floor 78%

Sensitivity live

Price	-10% $382	-5% $334	+0% $286	+5% $238	+10% $190
Rent	-10% $153	-5% $219	+0% $286	+5% $353	+10% $419
Rate	-1.0pp $372	-0.5pp $329	base $286	+0.5pp $242	+1.0pp $197

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-02-02
   status Pending
2. 2026-01-13
   listed $170,000 Active
3. 2017-02-22
   soldstatus $115,500 Sold 346-char remark

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

4. 2017-02-21
   soldstatus $115,500 346-char remark

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

5. 2017-02-21
   soldstatus $115,500

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

6. 2017-02-02
   status Pending 346-char remark

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

7. 2017-01-02
   historical Contingency Contract 346-char remark

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

8. 2016-12-15
   price $119,500 346-char remark

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

9. 2016-12-03
   price $122,900 346-char remark

   Show marketing remark (346 chars)

   Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

10. 2016-11-15
    price $123,000 346-char remark

    Show marketing remark (346 chars)

    Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

11. 2016-10-29
    price $123,900 346-char remark

    Show marketing remark (346 chars)

    Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

12. 2016-10-04
    price $124,000 346-char remark

    Show marketing remark (346 chars)

    Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

13. 2016-09-19
    listed $124,900 Active 346-char remark

    Show marketing remark (346 chars)

    Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

14. 2016-09-12
    listed $119,500 346-char remark

    Show marketing remark (346 chars)

    Lots of home for the money. Home has 4 bedrooms 2 full baths, bonus room, sun room and office room! Many update including new roof, new paint, new carpet, laminated flooring. Large kitchen with granite countertops. Walk in laundry room. Open great room with wood fireplace. Outside storage building to remain (sold as-is). Large private backyard.

15. 2011-02-22
    soldstatus $40,000
16. 2010-12-06
    listed $54,900
17. 1999-09-01
    soldstatus $83,000

ⓘ 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: $1,015 · $85/mo
• Projected year-2 tax: $1,015 · $85/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 ≥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 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,249
• − Mortgage interest: −$9,523
• − Property taxes: −$1,015
• − Insurance: −$850
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$4,945
• Taxable income: $676
• Est. tax owed @ 24.0%: −$162
• After-tax cash flow: $3,271/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 02
• NCES district ID: 4503510
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $49,591
• Composite: 44.79/100
• National rank: #2742
• State rank: #6 of 80 in SC

Livability — Valley Falls

• Score: 69/100
• State rank: #72
• US rank: #8644

Category grades

Amenities F Commute C Cost of living A+ Crime C- Employment D- 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: 28,009
• Metro: Spartanburg, SC
• Population (ZIP): 33,104
• Household income: $74,735
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 524.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Black 15% Two or more races 6% Hispanic / Latino 5% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Subsaharan African 3% Scotch-Irish 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 84% English-only · Russian/Polish/Slavic 7% Spanish 5% Other Asian/Pacific 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: ▼ -51.42%
• Current HPI: 220.8438
• Rent YoY: ▲ 0.69%
• 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

+104.8% since first listed

17 events — show timeline

• 2026-02-02 Pending — SPMLS
• 2026-01-13 Listed $170,000 SPMLS
• 2017-02-22 Sold (MLS) $115,500 Greater Greenville MLS
• 2017-02-21 Sold (Public Records) $115,500 Public Records
• 2017-02-21 Sold (MLS) $115,500 SPMLS
• 2017-02-02 Pending — Greater Greenville MLS
• 2017-01-02 Contingent — Greater Greenville MLS
• 2016-12-15 Price Changed $119,500 Greater Greenville MLS
• 2016-12-03 Price Changed $122,900 Greater Greenville MLS
• 2016-11-15 Price Changed $123,000 Greater Greenville MLS
• 2016-10-29 Price Changed $123,900 Greater Greenville MLS
• 2016-10-04 Price Changed $124,000 Greater Greenville MLS
• 2016-09-19 Listed $124,900 Greater Greenville MLS
• 2016-09-12 Listed $119,500 SPMLS
• 2011-02-22 Sold (MLS) $40,000 SPMLS
• 2010-12-06 Listed $54,900 SPMLS
• 1999-09-01 Sold (Public Records) $83,000 Public Records

Property tax history

-7.4%/yr

Latest (2025): $1,015 · +1.0% YoY. Source: county tax records.