1797 Drywood Cir · Irwin, SC 29720

$190,000

4 bd · 2.0 ba · 1,325 sqft · SingleFamily public records · 67 Days on market

Built 1978 0.32 ac lot Est $240k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• 1% rule +4.6/10.0
• DSCR +4.5/10.0
• Schools +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodeled to perfection! This beautiful 4 bedroom 2 bath Ranch is sure to WOW. Upon entering you will be quick to notice the fresh paint, brand new carpets & large airy kitchen! The 4th bedroom is brand new to this beauty and can easily make a second master or the perfect game room for entertaining! The possibilities are endless! This home also features a peaceful fenced in back yard as well as additional parking for guests! Enjoy the perks of owning a home on a corner lot with a brand new water heater and HVAC system! Schedule your showings today, this one won’t last long!

Key facts

• Spacious backyard
• Remodeled ranch
• Open layout

Tags

• REMODELED RANCH
• OPEN LAYOUT
• UPDATED KITCHEN
• SPACIOUS BACKYARD
• NO HOA

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: County water; County sewer
• Home design: Single-family residence; Site-built construction; One story; Residential property
• Construction: Partial brick and wood exterior; Crawl space foundation
• Exterior features: Rear porch; Publicly maintained road; Road surface is gravel and paved

Interior

• Kitchen: Electric cooktop; Microwave; Wall oven
• Bedrooms: 4 bedrooms on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floor plan; Kitchen island; Pantry; 9 total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $55 ($655/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 $182k (4.5% below list).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#292 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Lancaster 01 (rural): math 41% / reading 47% proficiency, ranked #26 of 80 in SC (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Erwin Elementary (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 411 students, 100% FRL); Lancaster High (math 17% / reading 70%, grade F, #171 of 196 statewide, top 87%, 1,463 students, 86% FRL) — zoned schools average 93% FRL vs 47% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 44% district-wide (-14 pts) — the specific schools serving this property underperform the Lancaster 01 average; the district grade overstates school quality for this exact location.
• Market conditions: 684 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 976 units permitted in Lancaster County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lancaster County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $35k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $163k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 40% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1978 — 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 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. 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: 0.96% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $239,825
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1631 Oakdale Dr	0.21mi	3/2.0 (-1)	1,438 (+8%)	8mo	$270,000	$188	65
1762 Old Carter St	0.54mi	3/2.0 (-1)	1,346 (+2%)	11mo	$180,000	$134	58
1652 Pinewood Ave	0.53mi	3/2.0 (-1)	1,296 (-2%)	12mo	$225,500	$174	57
1535 Maplewood Ave	0.51mi	3/1.5 (-1)	1,296 (-2%)	10mo	$225,000	$174	57
1447 Carmel Rd	0.64mi	3/2.0 (-1)	1,435 (+8%)	7mo	$285,000	$199	45
1192 Hampton Grace Ave	0.63mi	3/2.0 (-1)	1,438 (+8%)	9mo	$260,000	$181	44
1211 Belmont Circle Dr	0.75mi	4/2.0	1,417 (+7%)	22mo	$272,000	$192	35
1441 Victoria St	0.61mi	4/2.5	1,508 (+14%)	20mo	$259,997	$172	30

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-27,241
• Equity at exit: $28,330

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-18,964
• Equity at exit: $16,428

Cash invested: $53,200 (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 29720

• Home prices YoY: -28.2%
• Active inventory: 684
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,815 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$304 /mo · $3,647/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $55

Break-even live

Break-even rent $1,746

Max offer price $190,000

Occupancy floor 92%

Sensitivity live

Price	-10% $162	-5% $108	+0% $55	+5% $1	+10% $-53
Rent	-10% $-89	-5% $-17	+0% $55	+5% $126	+10% $198
Rate	-1.0pp $150	-0.5pp $103	base $55	+0.5pp $5	+1.0pp $-45

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1080 Grace Ave Lancaster, SC	3.0	1.0	1292	$1,800	$1.39	0d	1	1.20mi

Listing history 26 events

1. 2026-06-21
   days on market $190,000 Active 67 DOM
2. 2026-06-18
   days on market $190,000 Active 64 DOM
3. 2026-06-17
   days on market $190,000 Active 63 DOM
4. 2026-06-16
   days on market $190,000 Active 62 DOM
5. 2026-06-15
   days on market $190,000 Active 61 DOM
6. 2026-06-13
   pricedays on market $190,000 Active 59 DOM
7. 2026-06-09
   days on market $200,000 Active 55 DOM
8. 2026-06-08
   days on market $200,000 Active 54 DOM
9. 2026-06-07
   days on market $200,000 Active 53 DOM
10. 2026-06-04
    days on market $200,000 Active 50 DOM
11. 2026-06-03
    days on market $200,000 Active 49 DOM
12. 2026-06-02
    days on market $200,000 Active 48 DOM
13. 2026-06-01
    days on market $200,000 Active 47 DOM
14. 2026-05-31
    days on market $200,000 Active 46 DOM
15. 2026-04-29
    price $200,000
16. 2026-04-15
    listed $225,000 Active
17. 2025-11-24
    price $239,000
18. 2025-11-10
    price $243,000
19. 2025-10-28
    price $249,000
20. 2025-08-24
    listed $260,000 Active
21. 2021-03-19
    soldstatus $163,000 Closed 590-char remark

    Show marketing remark (590 chars)

    Remodeled to perfection! This beautiful 4 bedroom 2 bath Ranch is sure to WOW. Upon entering you will be quick to notice the fresh paint, brand new carpets & large airy kitchen! The 4th bedroom is brand new to this beauty and can easily make a second master or the perfect game room for entertaining! The possibilities are endless! This home also features a peaceful fenced in back yard as well as additional parking for guests! Enjoy the perks of owning a home on a corner lot with a brand new water heater and HVAC system! Schedule your showings today, this one won’t last long!

22. 2021-03-19
    soldstatus $163,000

    Show marketing remark (590 chars)

    Remodeled to perfection! This beautiful 4 bedroom 2 bath Ranch is sure to WOW. Upon entering you will be quick to notice the fresh paint, brand new carpets & large airy kitchen! The 4th bedroom is brand new to this beauty and can easily make a second master or the perfect game room for entertaining! The possibilities are endless! This home also features a peaceful fenced in back yard as well as additional parking for guests! Enjoy the perks of owning a home on a corner lot with a brand new water heater and HVAC system! Schedule your showings today, this one won’t last long!

23. 2021-02-11
    historical Active Under Contract 590-char remark

    Show marketing remark (590 chars)

    Remodeled to perfection! This beautiful 4 bedroom 2 bath Ranch is sure to WOW. Upon entering you will be quick to notice the fresh paint, brand new carpets & large airy kitchen! The 4th bedroom is brand new to this beauty and can easily make a second master or the perfect game room for entertaining! The possibilities are endless! This home also features a peaceful fenced in back yard as well as additional parking for guests! Enjoy the perks of owning a home on a corner lot with a brand new water heater and HVAC system! Schedule your showings today, this one won’t last long!

24. 2021-02-06
    price $179,900 590-char remark

    Show marketing remark (590 chars)

    Remodeled to perfection! This beautiful 4 bedroom 2 bath Ranch is sure to WOW. Upon entering you will be quick to notice the fresh paint, brand new carpets & large airy kitchen! The 4th bedroom is brand new to this beauty and can easily make a second master or the perfect game room for entertaining! The possibilities are endless! This home also features a peaceful fenced in back yard as well as additional parking for guests! Enjoy the perks of owning a home on a corner lot with a brand new water heater and HVAC system! Schedule your showings today, this one won’t last long!

25. 2021-02-04
    listed $190,000 Active 590-char remark

    Show marketing remark (590 chars)

    Remodeled to perfection! This beautiful 4 bedroom 2 bath Ranch is sure to WOW. Upon entering you will be quick to notice the fresh paint, brand new carpets & large airy kitchen! The 4th bedroom is brand new to this beauty and can easily make a second master or the perfect game room for entertaining! The possibilities are endless! This home also features a peaceful fenced in back yard as well as additional parking for guests! Enjoy the perks of owning a home on a corner lot with a brand new water heater and HVAC system! Schedule your showings today, this one won’t last long!

26. 2017-03-11
    price $67,900

ⓘ 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: $3,647 · $304/mo
• Projected year-2 tax: $3,647 · $304/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,784
• − Mortgage interest: −$10,643
• − Property taxes: −$3,647
• − Insurance: −$950
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − Depreciation: −$5,527
• Taxable loss: −$2,469
• Est. tax savings @ 24.0%: +$593
• After-tax cash flow: $1,248/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: Lancaster 01
• NCES district ID: 4502580
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $44,165
• Composite: 37.23/100
• National rank: #4462
• State rank: #26 of 80 in SC

Livability — Irwin

• Score: 56/100
• State rank: #292
• US rank: #22667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irwin, SC
• County: Lancaster County · 91,213 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 53,584
• Household income: $62,969
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 1158.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 105,572 people
• By 2030: 114,865 · +8.8%
• By 2040: 132,268 · +25.3%
• By 2050: 148,252 · +40.4%
• By 2075: 182,540 · +72.9%
• By 2100: 202,237 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 26% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Lancaster

• 2024 margin: Strong R (+24.8) · D 37.0% · R 61.8% · Other 1.2%
• 2008→2024 swing: -9.9pp toward R · 2008: -14.9pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+22.8 2016: R+25.5 2012: R+18.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.90%
• Current HPI: 244.328
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-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

+194.6% since first listed

12 events — show timeline

• 2026-04-29 Price Changed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Listed $225,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-24 Price Changed $239,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-10 Price Changed $243,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-28 Price Changed $249,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-24 Listed $260,000 CANOPYMLS as Distributed by MLS Grid
• 2021-03-19 Sold (Public Records) $163,000 Public Records
• 2021-03-19 Sold (MLS) $163,000 CANOPYMLS as Distributed by MLS Grid
• 2021-02-11 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2021-02-06 Price Changed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2021-02-04 Listed $190,000 CANOPYMLS as Distributed by MLS Grid
• 2017-03-11 Price Changed $67,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+20.5%/yr

Latest (2025): $3,647 · +13.7% YoY. Source: county tax records.