2203 Powderhouse Rd SE · Aiken, SC 29803

$225,000

4 bd · 1.5 ba · 1,478 sqft · SingleFamily public records · 37 Days on market

Built 1956 Est $248k · 9% 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).

• Cash flow +19.4/30.0
• ARV discount +11.7/15.0
• DSCR +6.1/10.0
• 1% rule +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Many updates to this 4 bedroom 1.5 bath home situated on . 42 of an acre. Shopping or eating, only 1 mile from home. Sold AS-IS. Come take a look

Key facts

• Built 1956
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/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 $200k (11.1% below list).
• Recommended offer: $200k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.1% in Aiken — 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 (#93 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, commute F.
• Aiken 01 (suburban): math 31% / reading 44% proficiency, ranked #36 of 80 in SC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 516 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,500 units permitted in Aiken County in 2024 (1,023 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Aiken County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $115k; list at $225k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,021 (11.1% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.89% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.78%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $248,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Vanderbilt Dr	0.13mi	4/2.0	1,312 (-11%)	1mo	$230,000	$175	72
18 Winthrop Dr	0.35mi	3/2.0 (-1)	1,455 (-2%)	5mo	$269,900	$185	70
72 Converse Dr	0.20mi	3/2.5 (-1)	1,416 (-4%)	6mo	$245,000	$173	70
410 Heathwood Dr	0.47mi	3/2.0 (-1)	1,482 (+0%)	5mo	$225,000	$152	67
34 Clemson Dr	0.22mi	3/1.5 (-1)	1,338 (-10%)	3mo	$210,000	$157	66
302 Vanderbilt Dr	0.18mi	3/2.0 (-1)	1,645 (+11%)	6mo	$250,000	$152	61
25 Vanderbilt Dr	0.31mi	3/2.0 (-1)	1,538 (+4%)	13mo	$243,000	$158	61
37 Vanderbilt Dr	0.21mi	3/2.0 (-1)	1,638 (+11%)	6mo	$240,000	$147	60
11 Converse Dr	0.49mi	3/2.0 (-1)	1,502 (+2%)	11mo	$253,000	$168	59
920 Speckled Teal Path	0.52mi	3/2.0 (-1)	1,648 (+12%)	5mo	$310,000	$188	45
57 Citadel Dr	0.54mi	3/2.0 (-1)	1,634 (+11%)	6mo	$273,500	$167	45
949 Speckled Teal Path	0.50mi	3/2.0 (-1)	1,681 (+14%)	7mo	$324,900	$193	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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-17,678
• Equity at exit: $33,548

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $17,063
• Equity at exit: $19,454

Cash invested: $63,000 (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 29803

• Rents YoY: 4.4%
• Active inventory: 516
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$56 /mo · $669/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $251

Break-even live

Break-even rent $1,683

Max offer price $225,000

Occupancy floor 82%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2211 Powderhouse Rd SE Aiken, SC	4.0	3.0	1702	$1,900	$1.12	21d	1	0.04mi
839 Speckled Teal Path Aiken, SC	3.0	2.0	1648	$2,335	$1.42	13d	1	0.59mi

Listing history 22 events

1. 2026-06-18
   days on market $225,000 Active 37 DOM
2. 2026-06-17
   days on market $225,000 Active 36 DOM
3. 2026-06-16
   days on market $225,000 Active 35 DOM
4. 2026-06-15
   days on market $225,000 Active 34 DOM
5. 2026-06-14
   days on market $225,000 Active 32 DOM
6. 2026-06-13
   days on market $225,000 Active 31 DOM
7. 2026-06-10
   days on market $225,000 Active 29 DOM
8. 2026-06-09
   days on market $225,000 Active 28 DOM
9. 2026-06-08
   days on market $225,000 Active 27 DOM
10. 2026-06-07
    days on market $225,000 Active 26 DOM
11. 2026-06-03
    days on market $225,000 Active 22 DOM
12. 2026-06-02
    days on market $225,000 Active 21 DOM
13. 2026-06-01
    days on market $225,000 Active 20 DOM
14. 2026-05-31
    days on market $225,000 Active 19 DOM
15. 2026-05-30
    days on market $225,000 Active 18 DOM
16. 2026-05-12
    listed $225,000 Active
17. 2017-09-12
    soldstatus $115,000
18. 2017-09-11
    soldstatus $115,000 145-char remark

    Show marketing remark (145 chars)

    Many updates to this 4 bedroom 1.5 bath home situated on . 42 of an acre. Shopping or eating, only 1 mile from home. Sold AS-IS. Come take a look

19. 2017-06-30
    listed $115,000 145-char remark

    Show marketing remark (145 chars)

    Many updates to this 4 bedroom 1.5 bath home situated on . 42 of an acre. Shopping or eating, only 1 mile from home. Sold AS-IS. Come take a look

20. 2011-11-21
    soldstatus $84,500
21. 2011-11-18
    soldstatus $84,500 151-char remark

    Show marketing remark (151 chars)

    DON'T MISS THIS DEAL. MARKETED AS IS BUT HVAC NEW 6-10. ALL EXCEPT LR PICTURE WINDOW ARE VINYL DOUBLE PANE. REFRIGERATOR STAYS! 5 BURNER GAS COOKTOP.

22. 2010-06-21
    listed $89,900 151-char remark

    Show marketing remark (151 chars)

    DON'T MISS THIS DEAL. MARKETED AS IS BUT HVAC NEW 6-10. ALL EXCEPT LR PICTURE WINDOW ARE VINYL DOUBLE PANE. REFRIGERATOR STAYS! 5 BURNER GAS COOKTOP.

ⓘ 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: $669 · $56/mo
• Projected year-2 tax: $1,282 · $107/mo
• Expected delta: +$614/yr (+$51/mo · 91.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,003
• − Mortgage interest: −$12,603
• − Property taxes: −$669
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$6,545
• Taxable loss: −$781
• Est. tax savings @ 24.0%: +$187
• After-tax cash flow: $3,197/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: Aiken 01
• NCES district ID: 4500720
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $45,081
• Composite: 31.91/100
• National rank: #5857
• State rank: #36 of 80 in SC

Livability — Aiken

• Score: 67/100
• State rank: #93
• US rank: #10443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Aiken County · 116,534 people
• City population: 71,807
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 40,699
• Household income: $86,023
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 641.0

Population outlook (Aiken County) Hauer SSP2

• Today (2025): 178,003 people
• By 2030: 182,876 · +2.7%
• By 2040: 189,970 · +6.7%
• By 2050: 193,840 · +8.9%
• By 2075: 199,453 · +12.1%
• By 2100: 192,403 · +8.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Slovak 3% Serbian 3% Lithuanian 3%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1%

Political lean MEDSL · Aiken

• 2024 margin: Strong R (+25.9) · D 36.4% · R 62.2% · Other 1.4%
• 2008→2024 swing: -1.9pp toward R · 2008: -24.0pp · 2024: -25.9pp
• All cycles: 2024: R+25.9 2020: R+22.7 2016: R+27.5 2012: R+26.0 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -221.02%
• Current HPI: 231.6908
• Rent YoY: ▲ 4.43%
• Metro: Augusta-Richmond County, GA-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

+150.3% since first listed

7 events — show timeline

• 2026-05-12 Listed $225,000 FSBO.com
• 2017-09-12 Sold (Public Records) $115,000 Public Records
• 2017-09-11 Sold (MLS) $115,000 AMLS
• 2017-06-30 Listed $115,000 AMLS
• 2011-11-21 Sold (Public Records) $84,500 Public Records
• 2011-11-18 Sold (MLS) $84,500 AMLS
• 2010-06-21 Listed $89,900 AMLS

Property tax history

+2.1%/yr

Latest (2025): $669 · +0.0% YoY. Source: county tax records.