229 Cub Cove Dr · Walhalla, SC 29691

$325,000

4 bd · 2.0 ba · 1,992 sqft · SingleFamily public records · 107 Days on market

Built 1999 0.35 ac lot Est $329k · at est.

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +8.0/15.0
• 1% rule +5.8/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upon arrival to this family friendly neighborhood you will instantly notice the charm and peaceful setting leading you home. A private paved driveway welcomes you home with pathway leading onto the front porch adorned with botanical features. Step into one of two living areas with a welcoming and updated feel. Once inside you will notice the open and spacious layout with open concept living area for an ideal entertaining space. Easily flow into the updated kitchen featuring bar seating, stainless appliances, lots of counterspace, access to laundry area with private entryway from the attached carport for convenient access when bringing in groceries. A second exterior access from the kitchen leads onto the back patio, ideal for grilling out or relaxing in the private backyard. From the kitchen, a dining area opens to the spacious family room with custom fireplace and french doors leading to the expansive, covered back patio where you will want to relax with guests and spend family time. The privately located master suite features two walk-in closets and a full bathroom with double vanity, walk-in shower and jetted tub for relaxation. Two additional bedrooms and a full bathroom complete the homes spacious layout. Enjoy a peaceful backyard setting with an expansive covered patio, firepit and shade trees. Adjoining lots available to convey with the property making the entire parcel 2.5+/- acres, all close to town. Home is close enough to walk to Sertoma field where kids enjoy playing sports and park setting with multiple playgrounds. This home is conveniently located to nearby shopping, dining, medical centers, and outdoor adventures as well as nearby Clemson University and an easy commute to Hwy 28/11 for quick access to schools, or metro areas including Atlanta, Greenville, Charlotte.

Key facts

• 0.35 acre lot
• Garage
• Built 1999

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: Attached carport; Driveway; 1-car garage
• Utilities: Electricity available; Public water; Public sewer; Underground utilities
• Home design: Single-story home; Built ~21-30 years ago; Entry level primary bedroom; Builder: Chip Lawson
• Construction: Vinyl siding exterior; Architectural shingle roof; Shingle roof; Slab foundation
• Exterior features: Patio; Porch; Cul-de-sac lot; City lot; Gentle sloping; Subdivision setting; Sloped lot; Trees

Interior

• Kitchen: Built-in oven; Dishwasher; Smooth cooktop; Disposal; Electric water heater
• Bedrooms: 3 main-level bedrooms; In-law suite
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Ceiling fans; Dual sinks; French doors / atrium door; Fireplace (gas log, with gas option); Jetted tub; Primary bedroom on main level; Bath in primary bedroom; Separate shower; Walk-in shower; Walk-in closet(s); Window treatments; Breakfast area; Separate/formal living room; In-law floorplan; Low threshold shower; Blinds; Vinyl window features
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $296k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.9% in Walhalla — 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 63/100 on livability (#171 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools D-, amenities F, commute F.
• Oconee 01 (rural): math 41% / reading 47% proficiency, ranked #27 of 80 in SC (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 648 units permitted in Oconee County in 2024 (40 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $178k; list at $325k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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: 1.08% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.16%
• DSCR: 1.50
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $328,680
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Fox Run Rd	0.12mi	4/2.0	2,000 (+0%)	2mo	$330,000	$165	92
327 Fox Run Rd	0.12mi	4/2.0	1,800 (-10%)	4mo	$310,000	$172	75
203 Tulip Dr	0.39mi	3/2.0 (-1)	2,183 (+10%)	4mo	$316,000	$145	58
208 Playground Rd	0.48mi	3/2.0 (-1)	1,866 (-6%)	10mo	$309,000	$166	54
1037 S Greenwich Dr	0.51mi	3/2.0 (-1)	2,112 (+6%)	11mo	$65,000	$31	52
200 Freedom Trl	0.30mi	4/3.0	2,200 (+10%)	24mo	$360,000	$164	45
824 N Andover Dr	0.52mi	4/2.0	2,187 (+10%)	19mo	$265,000	$121	43
54 Abbott Ln	0.60mi	3/2.5 (-1)	1,851 (-7%)	13mo	$377,000	$204	42

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $1,067
• Equity at exit: $48,459

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $69,706
• Equity at exit: $28,100

Cash invested: $91,000 (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 29691

• Home prices YoY: -27.8%
• Active inventory: 87
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $846

Break-even live

Break-even rent $2,429

Max offer price $325,000

Occupancy floor 71%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Playground Rd Walhalla, SC	4.0	4.0	2400	$3,500	$1.46	11d	1	0.63mi

Listing history 27 events

1. 2026-06-18
   days on market $325,000 Active 107 DOM
2. 2026-06-17
   days on market $325,000 Active 106 DOM
3. 2026-06-16
   days on market $325,000 Active 105 DOM
4. 2026-06-15
   days on market $325,000 Active 104 DOM
5. 2026-06-13
   days on market $325,000 Active 102 DOM
6. 2026-06-10
   days on market $325,000 Active 99 DOM
7. 2026-06-09
   days on market $325,000 Active 98 DOM
8. 2026-06-08
   days on market $325,000 Active 97 DOM
9. 2026-06-07
   days on market $325,000 Active 96 DOM
10. 2026-06-05
    days on market $325,000 Active 93 DOM
11. 2026-06-03
    days on market $325,000 Active 92 DOM
12. 2026-06-03
    days on market $325,000 Active 91 DOM
13. 2026-06-01
    days on market $325,000 Active 90 DOM
14. 2026-05-31
    days on market $325,000 Active 89 DOM
15. 2026-05-18
    price $330,000
16. 2026-04-17
    price $338,500
17. 2026-03-03
    listed $345,000 Active
18. 2024-11-09
    historical $2,500
19. 2024-10-09
    listed $2,500
20. 2019-10-18
    soldstatus $178,000
21. 2019-10-17
    soldstatus $178,000 1815-char remark

    Show marketing remark (1815 chars)

    Upon arrival to this family friendly neighborhood you will instantly notice the charm and peaceful setting leading you home. A private paved driveway welcomes you home with pathway leading onto the front porch adorned with botanical features. Step into one of two living areas with a welcoming and updated feel. Once inside you will notice the open and spacious layout with open concept living area for an ideal entertaining space. Easily flow into the updated kitchen featuring bar seating, stainless appliances, lots of counterspace, access to laundry area with private entryway from the attached carport for convenient access when bringing in groceries. A second exterior access from the kitchen leads onto the back patio, ideal for grilling out or relaxing in the private backyard. From the kitchen, a dining area opens to the spacious family room with custom fireplace and french doors leading to the expansive, covered back patio where you will want to relax with guests and spend family time. The privately located master suite features two walk-in closets and a full bathroom with double vanity, walk-in shower and jetted tub for relaxation. Two additional bedrooms and a full bathroom complete the homes spacious layout. Enjoy a peaceful backyard setting with an expansive covered patio, firepit and shade trees. Adjoining lots available to convey with the property making the entire parcel 2.5+/- acres, all close to town. Home is close enough to walk to Sertoma field where kids enjoy playing sports and park setting with multiple playgrounds. This home is conveniently located to nearby shopping, dining, medical centers, and outdoor adventures as well as nearby Clemson University and an easy commute to Hwy 28/11 for quick access to schools, or metro areas including Atlanta, Greenville, Charlotte.

22. 2019-09-09
    listed $180,000 1815-char remark

    Show marketing remark (1815 chars)

    Upon arrival to this family friendly neighborhood you will instantly notice the charm and peaceful setting leading you home. A private paved driveway welcomes you home with pathway leading onto the front porch adorned with botanical features. Step into one of two living areas with a welcoming and updated feel. Once inside you will notice the open and spacious layout with open concept living area for an ideal entertaining space. Easily flow into the updated kitchen featuring bar seating, stainless appliances, lots of counterspace, access to laundry area with private entryway from the attached carport for convenient access when bringing in groceries. A second exterior access from the kitchen leads onto the back patio, ideal for grilling out or relaxing in the private backyard. From the kitchen, a dining area opens to the spacious family room with custom fireplace and french doors leading to the expansive, covered back patio where you will want to relax with guests and spend family time. The privately located master suite features two walk-in closets and a full bathroom with double vanity, walk-in shower and jetted tub for relaxation. Two additional bedrooms and a full bathroom complete the homes spacious layout. Enjoy a peaceful backyard setting with an expansive covered patio, firepit and shade trees. Adjoining lots available to convey with the property making the entire parcel 2.5+/- acres, all close to town. Home is close enough to walk to Sertoma field where kids enjoy playing sports and park setting with multiple playgrounds. This home is conveniently located to nearby shopping, dining, medical centers, and outdoor adventures as well as nearby Clemson University and an easy commute to Hwy 28/11 for quick access to schools, or metro areas including Atlanta, Greenville, Charlotte.

23. 2019-01-24
    soldstatus $165,000
24. 2019-01-18
    soldstatus $165,000 1560-char remark

    Show marketing remark (1560 chars)

    Located at the end of a quiet cul-da-sac. As you walk in the front door there is a formal sitting area just off the updated kitchen. All main living areas have a wood ceiling. A very large living/family room with large gas fireplace wall, and open floor plan to dining room and kitchen is great for entertaining. Huge island with granite/tile. Separate cook top and oven. Stainless steel fridge, oven, dishwasher, microwave etc. Large prep areas allow multiple people plenty of cooking room for holidays and parties. The master suite is private and offers two walk in closets, and a spa retreat bathroom with separate shower and jetted tub. Main full bath with tub/shower also has spa feel . Double access to huge covered patio includes french doors in family room and door in kitchen. The huge covered patio offers a great place to sit by the fire and relax, with lots of trees surrounding property for shade and privacy. Freshly painted and well kept, updated home. Many additions and updates! HVAC system newly installed in 2012. Carpet, new laminate throughout only two years old. New gas fireplace wall as well. Hot water heater is apprx. 3 years old. Most everything has been updated/replaced. Best lot in the neighborhood, at end of cul-de-sac, only one near neighbor, then wooded on other three sides. Also up to 7 wooded acres adjoining the property can be purchased from a separate owner with owner financing at a great price, which would give even more seclusion and privacy. Utility room off patio gives storage for tools, etc.

25. 2018-11-28
    listed $169,900 1560-char remark

    Show marketing remark (1560 chars)

    Located at the end of a quiet cul-da-sac. As you walk in the front door there is a formal sitting area just off the updated kitchen. All main living areas have a wood ceiling. A very large living/family room with large gas fireplace wall, and open floor plan to dining room and kitchen is great for entertaining. Huge island with granite/tile. Separate cook top and oven. Stainless steel fridge, oven, dishwasher, microwave etc. Large prep areas allow multiple people plenty of cooking room for holidays and parties. The master suite is private and offers two walk in closets, and a spa retreat bathroom with separate shower and jetted tub. Main full bath with tub/shower also has spa feel . Double access to huge covered patio includes french doors in family room and door in kitchen. The huge covered patio offers a great place to sit by the fire and relax, with lots of trees surrounding property for shade and privacy. Freshly painted and well kept, updated home. Many additions and updates! HVAC system newly installed in 2012. Carpet, new laminate throughout only two years old. New gas fireplace wall as well. Hot water heater is apprx. 3 years old. Most everything has been updated/replaced. Best lot in the neighborhood, at end of cul-de-sac, only one near neighbor, then wooded on other three sides. Also up to 7 wooded acres adjoining the property can be purchased from a separate owner with owner financing at a great price, which would give even more seclusion and privacy. Utility room off patio gives storage for tools, etc.

26. 2018-06-08
    historical
27. 2018-06-06
    listed $169,500

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: +$901/yr (+$75/mo · 94.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$18,205
• − Property taxes: −$951
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$9,455
• Taxable income: $5,044
• Est. tax owed @ 24.0%: −$1,211
• After-tax cash flow: $8,941/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: Oconee 01
• NCES district ID: 4503060
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $42,074
• Composite: 37.03/100
• National rank: #4516
• State rank: #27 of 80 in SC

Livability — Walhalla

• Score: 63/100
• State rank: #171
• US rank: #15277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walhalla, SC
• Population (ZIP): 12,248

Population outlook (Oconee County) Hauer SSP2

• Today (2025): 77,950 people
• By 2030: 78,551 · +0.8%
• By 2040: 78,628 · +0.9%
• By 2050: 77,052 · -1.2%
• By 2075: 71,098 · -8.8%
• By 2100: 61,216 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Oconee

• 2024 margin: Solid R (+51.5) · D 23.6% · R 75.2% · Other 1.2%
• 2008→2024 swing: -14.0pp toward R · 2008: -37.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+47.4 2016: R+48.1 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.05%
• Current HPI: 207.8251
• 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

+94.7% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $330,000 WUMLS
• 2026-04-17 Price Changed $338,500 WUMLS
• 2026-03-03 Listed $345,000 WUMLS
• 2024-11-09 Rental Removed $2,500 Avail
• 2024-10-09 Listed for Rent $2,500 Avail
• 2019-10-18 Sold (Public Records) $178,000 Public Records
• 2019-10-17 Sold (MLS) $178,000 WUMLS
• 2019-09-09 Listed $180,000 WUMLS
• 2019-01-24 Sold (Public Records) $165,000 Public Records
• 2019-01-18 Sold (MLS) $165,000 Greater Greenville MLS
• 2018-11-28 Listed $169,900 Greater Greenville MLS
• 2018-06-08 Listing Removed — WUMLS
• 2018-06-06 Listed $169,500 WUMLS

Property tax history

-1.7%/yr

Latest (2025): $951 · +1.0% YoY. Source: county tax records.