500 State Park Rd · Sans Souci, SC 29609-2922

$214,900

3 bd · 1.0 ba · 2,645 sqft · SingleFamily public records · 36 Days on market

Built 1966 0.34 ac lot

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Why this score? — see what drove the B 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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

3 bedroom 1 bath home with 1144 sqft detached garage with separate electric very near Cherrydale; Needs complete renovation; This home is owned by a trust and agent is a trustee of this trust. Seller has very limited knowledge of the property as far as condition or other details. The heat for this home is a central gas furnace. Rooms do not have ducts but it does appear that there is a vent/duct that goes to the upstairs loft room. This room could be used as a bedroom but would be best for a child as it has lower ceilings. It does have a closet in this space. Small basement room is included in the footage. There is no A/C. Previous occupants used a window unit. THE STEPS THAT LEAD TO THE LO

Key facts

• 0.34 acre lot
• 2 garage spots
• Listed 36 days

Property features AI

Finance

• HOA & community: No HOA fees or community amenities reported

Exterior

• Parking: Detached 2-car garage with workshop; Driveway parking on paved concrete
• Utilities: Public water; Public sewer; Electric water heater; Natural gas heating
• Home design: 1 1/2 stories; Approximately 50+ years old; Lead based paint disclosure required; Residential property disclosure required
• Construction: Basement foundation
• Exterior features: Corner lot; Approximate lot dimensions 105 x 143; Lot size: 1/2 acre or less; Asbestos shingle exterior finish; Architectural roof; Attic storage; Basement storage (unfinished, interior access)

Interior

• Kitchen: Kitchen approximately 10 x 13
• Bedrooms: Primary bedroom on main level (12 x 14); Second bedroom (11 x 13); Third bedroom (10 x 27); Two bedrooms on main level
• Flooring: Hardwood; Vinyl; Other (see remarks)
• Bathrooms: One full bathroom (on main level)
• Heating & cooling: Floor furnace (natural gas); No cooling system reported; Electric water heater
• Interior features: Cable available; Sun room; Unfinished space (basement access)
• Laundry & utility: No laundry room reported

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $208k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.5% in Sans Souci — 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 74/100 on livability (#30 in SC, #4,635 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D-, amenities D-, 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: Summit Drive Elementary (math 58% / reading 60%, grade B-, #93 of 597 statewide, top 16%, 504 students, 53% FRL).
• 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 $8k of equity ($1k loan paydown + $6k 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 $60k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($208k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $208,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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: 1.30% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.1%
• Equity multiple: 2.25×
• Total profit: $75,474
• Equity at exit: $96,628

10-year hold

• IRR: 23.1%
• Equity multiple: 4.31×
• Total profit: $199,249
• Equity at exit: $148,916

Cash invested: $60,172 (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 29609-2922

• Active inventory: 1
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$217 /mo · $2,605/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $778

Break-even live

Break-even rent $1,815

Max offer price $214,900

Occupancy floor 67%

Sensitivity live

Price	-10% $900	-5% $839	+0% $778	+5% $718	+10% $657
Rent	-10% $557	-5% $668	+0% $778	+5% $889	+10% $1,000
Rate	-1.0pp $887	-0.5pp $833	base $778	+0.5pp $723	+1.0pp $666

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2076 Howlong Ave Greenville, SC	3.0	2.5	1800	$2,800	$1.56	15d	1	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $214,900 Active 36 DOM
2. 2026-06-17
   days on market $214,900 Active 35 DOM
3. 2026-06-16
   days on market $214,900 Active 34 DOM
4. 2026-06-15
   days on market $214,900 Active 33 DOM
5. 2026-06-13
   days on market $214,900 Active 31 DOM
6. 2026-06-13
   days on market $214,900 Active 30 DOM
7. 2026-06-10
   days on market $214,900 Active 28 DOM
8. 2026-06-09
   days on market $214,900 Active 27 DOM
9. 2026-06-08
   days on market $214,900 Active 26 DOM
10. 2026-06-07
    days on market $214,900 Active 25 DOM
11. 2026-06-03
    days on market $214,900 Active 21 DOM
12. 2026-06-03
    days on market $214,900 Active 20 DOM
13. 2026-06-01
    days on market $214,900 Active 19 DOM
14. 2026-05-31
    days on market $214,900 Active 18 DOM
15. 2026-05-11
    listed $214,900 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: $2,605 · $217/mo
• Projected year-2 tax: $2,605 · $217/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 ≥102°F today · 16 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: $33,600
• − Mortgage interest: −$12,038
• − Property taxes: −$2,605
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$6,252
• Taxable income: $6,255
• Est. tax owed @ 24.0%: −$1,501
• After-tax cash flow: $7,839/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 — Sans Souci

• Score: 74/100
• State rank: #30
• US rank: #4635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

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

1 event — show timeline

• 2026-05-11 Listed $214,900 Greater Greenville MLS

Property tax history

+3.2%/yr

Latest (2025): $2,605 · +3.3% YoY. Source: county tax records.