235 Meadowlark Dr · Walhalla, SC 29691

$169,000

3 bd · 1.5 ba · 1,008 sqft · SingleFamily public records · 86 Days on market

Built 1977 0.37 ac lot Est $147k · 15% over ↓ 6% since listing

---

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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +5.9/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 235 Meadowlark Drive, Walhalla. Built in 1977, this 1,008-square-foot home features three bedrooms, one full bath on a 0.37-acre lot. Located on a quiet cul-de-sac within the Walhalla city limits, this property offers a perfect balance of privacy and convenient access to local schools, shopping, and employment. The home has served as a rental property for many years and is being sold with limited disclosure. Buyers are encouraged to perform all inspections and necessary due diligence. This property presents an excellent opportunity for first-time homebuyers, investors, or anyone looking to add value through personalization and renovation. Don’t miss your chance to unlock th

Key facts

• Rental property
• Quiet cul-de-sac
• Employment

Tags

• QUIET CUL-DE-SAC
• LOCAL SCHOOLS
• SHOPPING
• EMPLOYMENT
• RENTAL PROPERTY

Property features AI

Finance

• HOA & community: HOA fees assessed annually

Exterior

• Parking: Attached carport; 1-car garage
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone service available
• Home design: Single-story home; Over 50 years old; Vinyl siding
• Construction: Vinyl siding construction; Crawlspace foundation; Built over 50 years ago
• Exterior features: Located on a cul-de-sac; City lot; Gentle sloping lot within a subdivision; Sloped terrain

Interior

• Bedrooms: 3 main-level bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Vinyl flooring; Crawl space basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $159k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.9% in Walhalla — 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 63/100 on livability (#171 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools D-, amenities F, commute F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 648 units permitted in Oconee 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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $147,168
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Bonnie Brae Ln	0.41mi	2/1.0 (-1)	961 (-5%)	10mo	$140,000	$146	57
115 Hillcrest Ct	0.62mi	3/2.0	1,040 (+3%)	23mo	$235,000	$226	45
102 Hillcrest Ct	0.55mi	3/2.0	1,137 (+13%)	12mo	$80,000	$70	41

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,331
• Equity at exit: $25,198

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $30,126
• Equity at exit: $14,612

Cash invested: $47,320 (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 29691

• Home prices YoY: -27.8%
• Active inventory: 87
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,841 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$104 /mo · $1,248/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $394

Break-even live

Break-even rent $1,343

Max offer price $169,000

Occupancy floor 74%

Sensitivity live

Price	-10% $490	-5% $442	+0% $394	+5% $346	+10% $298
Rent	-10% $249	-5% $321	+0% $394	+5% $467	+10% $539
Rate	-1.0pp $479	-0.5pp $437	base $394	+0.5pp $350	+1.0pp $306

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $169,000 Active 86 DOM
2. 2026-06-17
   days on market $169,000 Active 85 DOM
3. 2026-06-16
   days on market $169,000 Active 84 DOM
4. 2026-06-15
   days on market $169,000 Active 83 DOM
5. 2026-06-13
   days on market $169,000 Active 81 DOM
6. 2026-06-10
   days on market $169,000 Active 78 DOM
7. 2026-06-09
   days on market $169,000 Active 77 DOM
8. 2026-06-08
   days on market $169,000 Active 76 DOM
9. 2026-06-07
   days on market $169,000 Active 75 DOM
10. 2026-06-05
    days on market $169,000 Active 72 DOM
11. 2026-06-03
    days on market $169,000 Active 71 DOM
12. 2026-06-03
    days on market $169,000 Active 70 DOM
13. 2026-06-01
    days on market $169,000 Active 69 DOM
14. 2026-05-31
    days on market $169,000 Active 68 DOM
15. 2026-04-28
    price $169,000
16. 2026-04-07
    price $174,000
17. 2026-03-24
    listed $179,000 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: $1,248 · $104/mo
• Projected year-2 tax: $1,248 · $104/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 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,096
• − Mortgage interest: −$9,467
• − Property taxes: −$1,248
• − Insurance: −$845
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − Depreciation: −$4,916
• Taxable income: $2,085
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $4,227/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: Oconee 01
• NCES district ID: 4503060
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $42,074
• Composite: 37.03/100
• National rank: #4516
• State rank: #27 of 80 in SC

Livability — Walhalla

• Score: 63/100
• State rank: #171
• US rank: #15277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walhalla, SC
• Population (ZIP): 12,248

Population outlook (Oconee County) Hauer SSP2

• Today (2025): 77,950 people
• By 2030: 78,551 · +0.8%
• By 2040: 78,628 · +0.9%
• By 2050: 77,052 · -1.2%
• By 2075: 71,098 · -8.8%
• By 2100: 61,216 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Oconee

• 2024 margin: Solid R (+51.5) · D 23.6% · R 75.2% · Other 1.2%
• 2008→2024 swing: -14.0pp toward R · 2008: -37.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+47.4 2016: R+48.1 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.05%
• Current HPI: 207.8251
• 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

-5.6% since first listed

3 events — show timeline

• 2026-04-28 Price Changed $169,000 WUMLS
• 2026-04-07 Price Changed $174,000 WUMLS
• 2026-03-24 Listed $179,000 WUMLS

Property tax history

-0.0%/yr

Latest (2025): $1,248 · +0.7% YoY. Source: county tax records.