200 Sullivan Rd · Reed Creek, GA 29643

$172,500

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 236 Days on market

Built 2000 0.50 ac lot Est $224k · 23% 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.0/10.0
• Schools +4.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Seller will contribute to closing costs Official appraisal from 7/2025 is at $220,000 New HVAC, Appliances, Ceiling Fans and Led lighting We have financial experts that will work with you to obtain your financing

Key facts

• 0.5 acre lot
• Garage
• Listed 236 days

Property features AI

Finance

• Other: Property on/near Lake Hartwell; Lot dimensions approximately 100 x 181 x 76 x 181 (about 1/2 acre)
• HOA & community: No HOA fees or community amenities listed

Exterior

• Parking: Gravel driveway
• Utilities: Public water; Septic sewer; Electric power; No garbage pickup listed
• Home design: Single-story home; Corner lot; Approximately 21-30 years old; Slab foundation
• Construction: Vinyl siding construction; Composition shingle roof; Slab foundation; Built approximately 21-30 years ago
• Exterior features: Other/See remarks (additional exterior details referenced in remarks); Composition shingle roof; Vinyl siding

Interior

• Kitchen: Kitchen about 13 x 14; Dishwasher, refrigerator, electric cooktop, electric oven
• Bedrooms: Three main-level bedrooms; Primary bedroom includes a garden tub; Primary bedroom about 13 x 13; two other bedrooms about 10 x 13
• Flooring: Carpet; Laminate flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric heating system; Electric cooling system; Electric water heater
• Interior features: Second living quarters with a kitchen/kitchenette on the main level; Other/See remarks (additional interior details referenced in remarks); No fireplace
• Laundry & utility: No laundry room listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $172k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $152k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 1.5% in Reed Creek — 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 65/100 on livability (#218 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B+; Watch: health & safety C-, employment D, amenities F.
• Anderson 04 (rural): math 56% / reading 60% proficiency, ranked #4 of 80 in SC (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pendleton Elementary (math 32% / reading 37%, grade F, #344 of 597 statewide, top 60%, 479 students, 100% FRL); Riverside Middle (math 48% / reading 55%, grade C, #34 of 229 statewide, top 15%, 426 students, 63% FRL); Pendleton High (math 72% / reading 92%, grade A, #19 of 196 statewide, top 10%, 880 students, 59% FRL) — zoned schools average 74% FRL vs 46% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $18k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $172k implies a 475% gain — meaningful room to come down on a strong offer.

Recommended offer $151,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $224,224
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Viewmont Dr	0.32mi	3/2.0	1,456 (0%)	1mo	$189,900	$130	84
104 Cove Dr	0.05mi	3/2.0	1,400 (-4%)	11mo	$380,000	$271	82
109 Viewmont Dr	0.30mi	3/2.0	1,264 (-13%)	13mo	$195,000	$154	53

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-7,193
• Equity at exit: $25,720

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $20,278
• Equity at exit: $14,915

Cash invested: $48,300 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 29643

• Home prices YoY: -13.3%
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,729 medium
• Mortgage (P&I): −$905
• Tax from tax record: −$62 /mo · $747/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $327

Break-even live

Break-even rent $1,315

Max offer price $172,500

Occupancy floor 76%

Sensitivity live

Price	-10% $425	-5% $376	+0% $327	+5% $278	+10% $229
Rent	-10% $190	-5% $259	+0% $327	+5% $395	+10% $464
Rate	-1.0pp $414	-0.5pp $371	base $327	+0.5pp $282	+1.0pp $237

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: $43,125
• Closing costs: $5,175
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-22
   days on market $172,500 Active 236 DOM
2. 2026-06-18
   days on market $172,500 Active 233 DOM
3. 2026-06-17
   days on market $172,500 Active 232 DOM
4. 2026-06-16
   days on market $172,500 Active 231 DOM
5. 2026-06-15
   days on market $172,500 Active 230 DOM
6. 2026-06-13
   days on market $172,500 Active 228 DOM
7. 2026-06-13
   days on market $172,500 Active 227 DOM
8. 2026-06-10
   days on market $172,500 Active 225 DOM
9. 2026-06-09
   days on market $172,500 Active 224 DOM
10. 2026-06-08
    days on market $172,500 Active 223 DOM
11. 2026-06-07
    days on market $172,500 Active 222 DOM
12. 2026-06-05
    days on market $172,500 Active 219 DOM
13. 2026-06-03
    days on market $172,500 Active 218 DOM
14. 2026-06-03
    days on market $172,500 Active 217 DOM
15. 2026-06-01
    days on market $172,500 Active 216 DOM
16. 2026-05-31
    days on market $172,500 Active 215 DOM
17. 2026-04-29
    price $172,500
18. 2026-04-28
    status Active
19. 2026-04-21
    price $172,500
20. 2026-04-11
    historical
21. 2026-04-09
    price $179,000
22. 2026-03-06
    price $182,000
23. 2026-03-05
    price $180,200
24. 2025-12-30
    price $190,500
25. 2025-12-03
    historical
26. 2025-11-03
    listed $190,500 Active
27. 2025-11-02
    listed $195,000 Active
28. 2025-10-10
    price $195,000
29. 2025-10-10
    listed $195,000,000 Active
30. 2025-10-01
    historical
31. 2025-09-30
    historical
32. 2025-09-22
    price $195,300
33. 2025-07-07
    listed $195,500 Active
34. 2025-07-07
    listed $195,500 Active
35. 2010-11-03
    soldstatus $30,000
36. 2007-09-24
    soldstatus $17,000
37. 2004-03-31
    soldstatus $14,000
38. 1995-06-01
    soldstatus $35,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $747 · $62/mo
• Projected year-2 tax: $1,587 · $132/mo
• Expected delta: +$840/yr (+$70/mo · 112.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,746
• − Mortgage interest: −$9,663
• − Property taxes: −$747
• − Insurance: −$862
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$5,018
• Taxable income: $1,136
• Est. tax owed @ 24.0%: −$273
• After-tax cash flow: $3,652/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 04
• NCES district ID: 4500870
• Math proficiency: 56% ▼ -5.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $48,338
• Composite: 49.25/100
• National rank: #2030
• State rank: #4 of 80 in SC

Livability — Reed Creek

• Score: 65/100
• State rank: #218
• US rank: #12917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,887

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: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Asian 2% Two or more races 1%
• Common ancestry: Serbian 9% Romanian 5% Polish 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1% Korean 1%

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: ▼ -40.87%
• Current HPI: 265.6967
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+392.9% since first listed

22 events — show timeline

• 2026-04-29 Price Changed $172,500 WUMLS
• 2026-04-28 Relisted — Greater Greenville MLS
• 2026-04-21 Price Changed $172,500 Greater Greenville MLS
• 2026-04-11 Listing Removed — Greater Greenville MLS
• 2026-04-09 Price Changed $179,000 Greater Greenville MLS
• 2026-03-06 Price Changed $182,000 Greater Greenville MLS
• 2026-03-05 Price Changed $180,200 WUMLS
• 2025-12-30 Price Changed $190,500 Greater Greenville MLS
• 2025-12-03 Listing Removed — Greater Greenville MLS
• 2025-11-03 Listed $190,500 WUMLS
• 2025-11-02 Listed $195,000 Greater Greenville MLS
• 2025-10-10 Price Changed $195,000 Greater Greenville MLS
• 2025-10-10 Listed $195,000,000 Greater Greenville MLS
• 2025-10-01 Listing Removed — Greater Greenville MLS
• 2025-09-30 Listing Removed — WUMLS
• 2025-09-22 Price Changed $195,300 WUMLS
• 2025-07-07 Listed $195,500 WUMLS
• 2025-07-07 Listed $195,500 Greater Greenville MLS
• 2010-11-03 Sold (Public Records) $30,000 Public Records
• 2007-09-24 Sold (Public Records) $17,000 Public Records
• 2004-03-31 Sold (Public Records) $14,000 Public Records
• 1995-06-01 Sold (Public Records) $35,000 Public Records

Property tax history

+1.6%/yr

Latest (2022): $747 · +7.5% YoY. Source: county tax records.