Real Estate Investing in Waterloo, South Carolina (29384)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29384 (Waterloo, SC)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 35.8% of homes vacant — above national norms.
- Declining values: -2.5% 5-year CAGR — values have moved lower.
- 1-year downturn: Values declined 6.1% in the last year.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waterloo, SC (29384)?
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Market Analysis: 29384 Waterloo
Not every below-median market is a bargain. Waterloo's 29384 ZIP comes in at signals that favor experienced operators who can absorb the risk $185K pricing implies.
In practical terms, the numbers look inviting — $185K purchase price, 0.0% nominal cap — the work to hit that pro forma in 29384 is substantial and deserves full respect.
Statewide comparisons place 29384 among SC's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 29384 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 29384 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Waterloo:
Property Strategy for 29384
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $211,714 | $930 | 3.2% | — | $105,857 |
| 3BR | $284,483 | $1,120 | 2.8% | +9.9% | $94,828 |
Market Trends
Home Value History (with trend line)
📊 How Does 29384 Compare?
| Metric | 29384 | Waterloo | Greenville-Anderson, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $184,643 | $184,643 | N/A | $299,690 |
| 5-Year CAGR | N/A | N/A | N/A | 7.3% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29384 (Waterloo, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $184,643 |
| Monthly Rent | $837 |
| Price-to-Rent | 18.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 1.0% |
📈 Home Appreciation
| 1-Year | -6.1% ▼ |
| 3-Year CAGR | -8.7% ▼ |
| 5-Year CAGR | -2.5% ▼ |
| 10-Year CAGR | +2.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 29384
Population: 3,440
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 29384
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,003 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do landlords charge for rent in Waterloo, SC?
Expect rents around $837/mo per month in Waterloo, SC. With home values at $185K, the yield math works out to reasonable levels for rental investors.
How much should I expect to pay for a home in Waterloo, SC?
Typical homes in Waterloo, SC go for around $185K. The 5-year CAGR of 0.0% predictable price movement.
What kind of market is Waterloo, SC for investors?
Investors tracking Waterloo, SC will find a 2.0/5 rating supported by $185K median home values and $837/mo rents. That profile suits long-term holders targeting steady returns.
Is the tenant base reliable in Waterloo, SC?
Tenant demand in Waterloo, SC is solid. The local workforce $837/mo rents across most rental classes.
How tight is the rental market in Waterloo, SC?
Waterloo, SC carries elevated vacancy risk. Expect stable absorption at market rents of $837/mo.
You know 29384 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 29384 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 29384 ranks in Greenville-Anderson, SC
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