525 Fulwer St · Anderson, SC 29624

$99,900

2 bd · 1.0 ba · 450 sqft · Other public records · 214 Days on market

Built 1940 5,227 sqft 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Appreciation +4.0/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

FRESH UPDATES & ENDLESS POTENTIAL. Looking for a home that’s already had the heavy lifting done? This Anderson ranch is a must-see. With the majority of the renovations already complete, you can move right in and focus on the fun part personalizing the space to your style. The standout front porch has been recently refreshed, adding immediate curb appeal and a welcoming outdoor living space. Whether you are looking for a high-performing rental or a cozy primary residence, this property offers a solid foundation in a convenient location. A rare chance to secure a nearly-finished project at an accessible price point! Sold AS IS.

Key facts

• Easy access
• Front porch
• Mostly redone

Tags

• FRONT PORCH
• MOSTLY REDONE
• EASY ACCESS

Property features AI

Finance

• Other: Lead-based paint disclosure required; Residential property disclosure required
• HOA & community: No HOA fees (none listed); No community amenities

Exterior

• Parking: Driveway parking; No garage
• Utilities: Public water; Electric water heater; Public sewer; Electric power
• Home design: Single-story home; Approximate age 50+ years; Crawl space foundation
• Construction: Vinyl siding exterior; Roof — other (see remarks)
• Exterior features: Front porch; Vinyl siding; Lot slopes gently; Half acre or smaller lot

Interior

• Kitchen: Kitchen approximately 11 x 8; Refrigerator; Electric cooktop; Electric standalone range
• Bedrooms: 2 bedrooms on the main level; Primary bedroom on main level (approximately 13 x 13); Second bedroom approximately 11 x 8
• Flooring: Other — see remarks
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Electric heating system; Central forced cooling
• Interior features: Other — see remarks; No fireplace
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.3% in Anderson — 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 67/100 on livability (#98 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime F, commute F.
• Anderson 05 (suburban): math 44% / reading 49% proficiency, ranked #20 of 80 in SC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Homeland Park Primary (427 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 117 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $691 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Anderson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago 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.
• Current owner paid $33k; list at $100k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.20%
• DSCR: 1.68
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.37×
• Total profit: $10,362
• Equity at exit: $19,129

10-year hold

• IRR: 16.6%
• Equity multiple: 2.49×
• Total profit: $41,622
• Equity at exit: $16,089

Cash invested: $27,972 (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 29624

• Home prices YoY: -0.5%
• Active inventory: 117
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $354

Break-even live

Break-even rent $833

Max offer price $99,900

Occupancy floor 67%

Sensitivity live

Price	-10% $411	-5% $383	+0% $354	+5% $326	+10% $298
Rent	-10% $253	-5% $304	+0% $354	+5% $405	+10% $456
Rate	-1.0pp $405	-0.5pp $380	base $354	+0.5pp $328	+1.0pp $302

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 N Main St Anderson, SC	2.0	1.0–1.5	526	$2,195	$4.17	3d	5	0.97mi

Listing history 30 events

1. 2026-06-21
   days on market $99,900 Active 214 DOM
2. 2026-06-18
   days on market $99,900 Active 211 DOM
3. 2026-06-17
   days on market $99,900 Active 210 DOM
4. 2026-06-16
   days on market $99,900 Active 209 DOM
5. 2026-06-15
   days on market $99,900 Active 208 DOM
6. 2026-06-13
   days on market $99,900 Active 206 DOM
7. 2026-06-10
   days on market $99,900 Active 203 DOM
8. 2026-06-09
   days on market $99,900 Active 202 DOM
9. 2026-06-08
   days on market $99,900 Active 201 DOM
10. 2026-06-07
    days on market $99,900 Active 200 DOM
11. 2026-06-05
    days on market $99,900 Active 197 DOM
12. 2026-06-03
    days on market $99,900 Active 196 DOM
13. 2026-06-03
    days on market $99,900 Active 195 DOM
14. 2026-06-01
    days on market $99,900 Active 194 DOM
15. 2026-05-31
    days on market $99,900 Active 193 DOM
16. 2026-04-24
    price $99,900
17. 2026-04-23
    status Active

    Show marketing remark (646 chars)

    FRESH UPDATES & ENDLESS POTENTIAL. Looking for a home that’s already had the heavy lifting done? This Anderson ranch is a must-see. With the majority of the renovations already complete, you can move right in and focus on the fun part personalizing the space to your style. The standout front porch has been recently refreshed, adding immediate curb appeal and a welcoming outdoor living space. Whether you are looking for a high-performing rental or a cozy primary residence, this property offers a solid foundation in a convenient location. A rare chance to secure a nearly-finished project at an accessible price point! Sold AS IS.

18. 2026-04-23
    listed $99,900 Active 646-char remark

    Show marketing remark (646 chars)

    FRESH UPDATES & ENDLESS POTENTIAL. Looking for a home that’s already had the heavy lifting done? This Anderson ranch is a must-see. With the majority of the renovations already complete, you can move right in and focus on the fun part personalizing the space to your style. The standout front porch has been recently refreshed, adding immediate curb appeal and a welcoming outdoor living space. Whether you are looking for a high-performing rental or a cozy primary residence, this property offers a solid foundation in a convenient location. A rare chance to secure a nearly-finished project at an accessible price point! Sold AS IS.

19. 2026-03-28
    historical
20. 2026-03-27
    historical
21. 2025-12-31
    price $115,000
22. 2025-12-30
    price $115,000
23. 2025-11-11
    status Active
24. 2025-10-27
    historical
25. 2025-10-23
    listed $120,000 Active
26. 2025-10-08
    listed $120,000 Active
27. 2022-01-07
    soldstatus $33,000 Sold
28. 2021-12-20
    status Pending
29. 2021-12-07
    price $39,900
30. 2021-11-16
    listed $49,000 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: $1,114 · $93/mo
• Projected year-2 tax: $1,114 · $93/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 · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,382
• − Mortgage interest: −$5,596
• − Property taxes: −$1,114
• − Insurance: −$500
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$2,906
• Taxable income: $2,806
• Est. tax owed @ 24.0%: −$673
• After-tax cash flow: $3,579/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: Anderson 05
• NCES district ID: 4500900
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $39,718
• Composite: 38.89/100
• National rank: #4098
• State rank: #20 of 80 in SC

Livability — Anderson

• Score: 67/100
• State rank: #98
• US rank: #10772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anderson, SC
• County: Anderson County · 99,076 people
• City population: 87,992
• Metro: Greenville-Anderson, SC
• Population (ZIP): 13,498
• Household income: $30,549
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 843.0

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 210,546 people
• By 2030: 217,791 · +3.4%
• By 2040: 230,643 · +9.5%
• By 2050: 240,220 · +14.1%
• By 2075: 259,518 · +23.3%
• By 2100: 258,696 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Hispanic / Latino 10% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 1% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -14.1pp toward R · 2008: -33.3pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+42.0 2016: R+43.7 2012: R+36.4 2008: R+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.06%
• Current HPI: 406.0533
• Rent YoY: —
• Metro: Greenville-Anderson, 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

+103.9% since first listed

15 events — show timeline

• 2026-04-24 Price Changed $99,900 Greater Greenville MLS
• 2026-04-23 Relisted — Greater Greenville MLS
• 2026-04-23 Listed $99,900 WUMLS
• 2026-03-28 Listing Removed — Greater Greenville MLS
• 2026-03-27 Listing Removed — WUMLS
• 2025-12-31 Price Changed $115,000 Greater Greenville MLS
• 2025-12-30 Price Changed $115,000 WUMLS
• 2025-11-11 Relisted — WUMLS
• 2025-10-27 Listing Removed — WUMLS
• 2025-10-23 Listed $120,000 Greater Greenville MLS
• 2025-10-08 Listed $120,000 WUMLS
• 2022-01-07 Sold (MLS) $33,000 WUMLS
• 2021-12-20 Pending — WUMLS
• 2021-12-07 Price Changed $39,900 WUMLS
• 2021-11-16 Listed $49,000 WUMLS

Property tax history

+26.6%/yr

Latest (2025): $1,114 · +772.7% YoY. Source: county tax records.