193 Dogwood Rd · Fingerville, SC 29349

$279,900

4 bd · 2.0 ba · 1,823 sqft · Land · 182 Days on market

Built 2025 0.80 ac lot

---

Why this score? — see what drove the F 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 +10.4/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Livability +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

COOLEY SPRINGS - 4 Bedroom, 2 Bath OPEN FLOOR PLAN with no HOA fees. New & Never lived in. Enjoy a spacious, level yard w/ trees in this new home ready for a family to make this home! Split floor plan - 3 bedrooms share hall bath - Each w/ sizeable closets. Primary bedroom has private bath and 2 walk in closets, double vanity and garden tub. Living room with accent wall is open to the kitchen, dining & den. The kitchen has a large island for more seating and space as you cook. Stainless appliances and fan hood over range make for an attractive kitchen with backsplash accent. For the coffee lover, there is a coffee bar! Laundry w/ extra flex space. Oversized deck. A must to see at this price! UNDER CONSTRUCTION. Drive by this one and let us make an appointment for your private showing. Please be aware that some photos are virtually staged.

Key facts

• Open floor plan
• Spacious level yard
• Private bath

Tags

• OPEN FLOOR PLAN
• SPACIOUS LEVEL YARD
• SPLIT FLOOR PLAN
• PRIVATE BATH
• WALK IN CLOSETS
• LARGE ISLAND

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $280k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (31.7% below list).
• Recommended offer: $191k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.4% in Fingerville — 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 32/100 on livability (#396 in SC) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• 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: Cooley Springs-Fingerville Elementary (math 67% / reading 67%, grade B+, #45 of 597 statewide, top 8%, 391 students, 77% FRL); Rainbow Lake Middle (math 37% / reading 46%, grade F, #68 of 229 statewide, top 31%, 1,009 students, 69% FRL); Boiling Springs High (math 62% / reading 88%, grade A-, #37 of 196 statewide, top 18%, 2,671 students, 60% FRL) — zoned schools average 68% FRL vs 44% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 700 active listings in the ZIP; solid renter incomes; 3,129 units permitted in Spartanburg County in 2024 (40 in 5+ unit buildings).
• This rent runs 30% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 182 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $43k; list at $280k implies a 547% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,207 (31.7% 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 182 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.68% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.27×
• Total profit: $-57,241
• Equity at exit: $41,734

10-year hold

• IRR: -17.6%
• Equity multiple: 0.08×
• Total profit: $-71,788
• Equity at exit: $24,201

Cash invested: $78,372 (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 29349

• Home prices YoY: -31.8%
• Rents YoY: 1.8%
• Active inventory: 700
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,912 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-148

Break-even live

Break-even rent $2,100

Max offer price $253,705

Occupancy floor —

Sensitivity live

Price	-10% $10	-5% $-69	+0% $-148	+5% $-228	+10% $-307
Rent	-10% $-299	-5% $-224	+0% $-148	+5% $-73	+10% $3
Rate	-1.0pp $-7	-0.5pp $-77	base $-148	+0.5pp $-221	+1.0pp $-295

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-07
   status Pending 862-char remark

   Show marketing remark (862 chars)

   COOLEY SPRINGS - 4 Bedroom, 2 Bath OPEN FLOOR PLAN with no HOA fees. New & Never lived in. Enjoy a spacious, level yard w/ trees in this new home ready for a family to make this home! Split floor plan - 3 bedrooms share hall bath - Each w/ sizeable closets. Primary bedroom has private bath and 2 walk in closets, double vanity and garden tub. Living room with accent wall is open to the kitchen, dining & den. The kitchen has a large island for more seating and space as you cook. Stainless appliances and fan hood over range make for an attractive kitchen with backsplash accent. For the coffee lover, there is a coffee bar! Laundry w/ extra flex space. Oversized deck. A must to see at this price! UNDER CONSTRUCTION. Drive by this one and let us make an appointment for your private showing. Please be aware that some photos are virtually staged.

2. 2026-04-07
   status Pending

   Show marketing remark (862 chars)

   COOLEY SPRINGS - 4 Bedroom, 2 Bath OPEN FLOOR PLAN with no HOA fees. New & Never lived in. Enjoy a spacious, level yard w/ trees in this new home ready for a family to make this home! Split floor plan - 3 bedrooms share hall bath - Each w/ sizeable closets. Primary bedroom has private bath and 2 walk in closets, double vanity and garden tub. Living room with accent wall is open to the kitchen, dining & den. The kitchen has a large island for more seating and space as you cook. Stainless appliances and fan hood over range make for an attractive kitchen with backsplash accent. For the coffee lover, there is a coffee bar! Laundry w/ extra flex space. Oversized deck. A must to see at this price! UNDER CONSTRUCTION. Drive by this one and let us make an appointment for your private showing. Please be aware that some photos are virtually staged.

3. 2025-10-17
   price $279,900
4. 2025-10-16
   price $279,900 862-char remark

   Show marketing remark (862 chars)

   COOLEY SPRINGS - 4 Bedroom, 2 Bath OPEN FLOOR PLAN with no HOA fees. New & Never lived in. Enjoy a spacious, level yard w/ trees in this new home ready for a family to make this home! Split floor plan - 3 bedrooms share hall bath - Each w/ sizeable closets. Primary bedroom has private bath and 2 walk in closets, double vanity and garden tub. Living room with accent wall is open to the kitchen, dining & den. The kitchen has a large island for more seating and space as you cook. Stainless appliances and fan hood over range make for an attractive kitchen with backsplash accent. For the coffee lover, there is a coffee bar! Laundry w/ extra flex space. Oversized deck. A must to see at this price! UNDER CONSTRUCTION. Drive by this one and let us make an appointment for your private showing. Please be aware that some photos are virtually staged.

5. 2025-10-07
   listed $269,900 Active 862-char remark

   Show marketing remark (862 chars)

   COOLEY SPRINGS - 4 Bedroom, 2 Bath OPEN FLOOR PLAN with no HOA fees. New & Never lived in. Enjoy a spacious, level yard w/ trees in this new home ready for a family to make this home! Split floor plan - 3 bedrooms share hall bath - Each w/ sizeable closets. Primary bedroom has private bath and 2 walk in closets, double vanity and garden tub. Living room with accent wall is open to the kitchen, dining & den. The kitchen has a large island for more seating and space as you cook. Stainless appliances and fan hood over range make for an attractive kitchen with backsplash accent. For the coffee lover, there is a coffee bar! Laundry w/ extra flex space. Oversized deck. A must to see at this price! UNDER CONSTRUCTION. Drive by this one and let us make an appointment for your private showing. Please be aware that some photos are virtually staged.

6. 2025-10-07
   listed $269,900 Active

   Show marketing remark (862 chars)

   COOLEY SPRINGS - 4 Bedroom, 2 Bath OPEN FLOOR PLAN with no HOA fees. New & Never lived in. Enjoy a spacious, level yard w/ trees in this new home ready for a family to make this home! Split floor plan - 3 bedrooms share hall bath - Each w/ sizeable closets. Primary bedroom has private bath and 2 walk in closets, double vanity and garden tub. Living room with accent wall is open to the kitchen, dining & den. The kitchen has a large island for more seating and space as you cook. Stainless appliances and fan hood over range make for an attractive kitchen with backsplash accent. For the coffee lover, there is a coffee bar! Laundry w/ extra flex space. Oversized deck. A must to see at this price! UNDER CONSTRUCTION. Drive by this one and let us make an appointment for your private showing. Please be aware that some photos are virtually staged.

7. 2024-07-16
   soldstatus $43,250
8. 2024-03-15
   soldstatus $50,000

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,595 · $133/mo
• Expected delta: +$703/yr (+$59/mo · 78.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,945
• − Mortgage interest: −$15,679
• − Property taxes: −$892
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$8,143
• Taxable loss: −$6,840
• Est. tax savings @ 24.0%: +$1,641
• After-tax cash flow: $-138/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 — Fingerville

• Score: 32/100
• State rank: #396
• US rank: #27829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spartanburg County · 258,607 people
• City population: 66
• Metro: Spartanburg, SC
• Population (ZIP): 39,083
• Household income: $76,168
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 271.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Subsaharan African 6% Serbian 3% Scotch-Irish 3%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Russian/Polish/Slavic 7% Spanish 3% 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: ▼ -113.67%
• Current HPI: 244.0359
• Rent YoY: ▲ 1.79%
• 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

+459.8% since first listed

8 events — show timeline

• 2026-04-07 Pending — SPMLS
• 2026-04-07 Pending — Greater Greenville MLS
• 2025-10-17 Price Changed $279,900 Greater Greenville MLS
• 2025-10-16 Price Changed $279,900 SPMLS
• 2025-10-07 Listed $269,900 SPMLS
• 2025-10-07 Listed $269,900 Greater Greenville MLS
• 2024-07-16 Sold (Public Records) $43,250 Public Records
• 2024-03-15 Sold (Public Records) $50,000 Public Records

Property tax history

+17.2%/yr

Latest (2025): $892 · +407.3% YoY. Source: county tax records.