24 Alice Farr Dr · Berea, SC 29617-1502

$250,000

3 bd · 2.0 ba · 2,542 sqft · SingleFamily public records · 13 Days on market

Built 1960 Est $336k · 25% under ↓ 9% since listing

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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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• Appreciation +5.0/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Three Bedroom 2 Bath house on the main floor. Beautiful hardwood floors. Large kitchen with plenty of cabinets. A full basement allows many possibilities for a recreation room, bonus room or a fourth bedroom. Some TLC is needed which allows for instant equity. Relax on the front porch or enjoy a cookout on the back deck.

Key facts

• Front porch
• Large kitchen
• Full basement

Tags

• HARDWOOD FLOORS
• LARGE KITCHEN
• FULL BASEMENT
• FRONT PORCH
• BACK DECK

Property features AI

Finance

• HOA & community: No HOA fees; No community amenities

Exterior

• Parking: Attached 1-car garage; 1-car carport; Paved concrete driveway; Additional garage and an outbuilding with electricity for storage
• Utilities: Public water; Public sewer; Public garbage pickup; Electric power
• Home design: Single-story with basement (1 + basement); Architectural roof; Brick veneer exterior; Lead-based paint disclosure required
• Construction: Basement foundation; Home approx. 50+ years old
• Exterior features: Front porch; Deck; Patio; Some storm doors; Tilt-out windows; Fenced yard; Mostly level lot with gentle slopes and some trees

Interior

• Kitchen: Kitchen approx. 12 x 10; Electric stand-alone range
• Bedrooms: Three bedrooms on the main level; Primary bedroom on main level with full bath and shower only (approx. 13 x 12); Second bedroom approx. 12 x 11; Third bedroom approx. 12 x 11
• Flooring: Carpet; Hardwood
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric forced air heating; Central forced cooling; Electric water heater
• Interior features: Attic with disappearing stairs; Cable available; Ceiling fan(s); Laminate countertops; Wood-burning fireplace (1)
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/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 $230k (8.0% below list).
• Recommended offer: $230k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.9% in Berea — 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 72/100 on livability (#44 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: crime F, amenities F, employment F.
• Greenville 01 (suburban): math 44% / reading 54% proficiency, ranked #10 of 80 in SC (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Berea Elementary (math 44% / reading 38%, grade F, #276 of 597 statewide, top 48%, 462 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,595 units permitted in Greenville County in 2024 (566 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Greenville County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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

• 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 $229,900 (8.0% below list)

Questions for the listing agent

1. Built in 1960 — 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 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?
4. 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?
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: 0.92% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $335,544
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 Berea Forest Cir	0.41mi	3/2.0	2,329 (-8%)	24mo	$308,000	$132	48

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: 12.9%
• Equity multiple: 1.74×
• Total profit: $51,500
• Equity at exit: $112,411

10-year hold

• IRR: 14.8%
• Equity multiple: 3.19×
• Total profit: $153,076
• Equity at exit: $173,238

Cash invested: $70,000 (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 29617-1502

• Active inventory: 1
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,299 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$63 /mo · $761/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $338

Break-even live

Break-even rent $1,872

Max offer price $250,000

Occupancy floor 80%

Sensitivity live

Price	-10% $479	-5% $408	+0% $338	+5% $267	+10% $196
Rent	-10% $156	-5% $247	+0% $338	+5% $428	+10% $519
Rate	-1.0pp $463	-0.5pp $401	base $338	+0.5pp $273	+1.0pp $207

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Torrington Dr Greenville, SC	4.0	2.5	1920	$2,299	$1.20	16d	1	0.76mi

Listing history 10 events

1. 2026-06-03
   days on market $250,000 Active 13 DOM
2. 2026-06-03
   days on market $250,000 Active 12 DOM
3. 2026-06-01
   days on market $250,000 Active 11 DOM
4. 2026-05-31
   days on market $250,000 Active 10 DOM
5. 2026-05-21
   historical
6. 2026-05-21
   listed $250,000 Active
7. 2026-05-08
   historical Contingency Contract
8. 2026-05-06
   price $250,000
9. 2026-04-15
   price $265,000
10. 2026-04-01
    listed $275,000 Active

ⓘ 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: $761 · $63/mo
• Projected year-2 tax: $1,425 · $119/mo
• Expected delta: +$664/yr (+$55/mo · 87.3%)

ⓘ 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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,588
• − Mortgage interest: −$14,004
• − Property taxes: −$761
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,207
• − Management: −$2,207
• − Depreciation: −$7,273
• Taxable loss: −$114
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $4,078/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: Greenville 01
• NCES district ID: 4502310
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $49,596
• Composite: 41.88/100
• National rank: #3370
• State rank: #10 of 80 in SC

Livability — Berea

• Score: 72/100
• State rank: #44
• US rank: #6173

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berea, SC

Population outlook (Greenville County) Hauer SSP2

• Today (2025): 574,580 people
• By 2030: 615,615 · +7.1%
• By 2040: 695,373 · +21.0%
• By 2050: 769,367 · +33.9%
• By 2075: 933,296 · +62.4%
• By 2100: 1,029,196 · +79.1%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-9.1% since first listed

6 events — show timeline

• 2026-05-21 Listed $250,000 Greater Greenville MLS
• 2026-05-21 Listing Removed — Greater Greenville MLS
• 2026-05-08 Contingent — Greater Greenville MLS
• 2026-05-06 Price Changed $250,000 Greater Greenville MLS
• 2026-04-15 Price Changed $265,000 Greater Greenville MLS
• 2026-04-01 Listed $275,000 Greater Greenville MLS

Property tax history

+1.5%/yr

Latest (2025): $761 · +11.7% YoY. Source: county tax records.