109 Farmer Street St · Anderson, SC 29621

$184,900

2 bd · 2.0 ba · 1,406 sqft · Other public records · 65 Days on market

Built 1960 0.30 ac lot

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Why this score? — see what drove the D 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 +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Rent growth +4.1/5.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated seller! Charming 2-Bedroom, 2-Bathroom Bungalow with flex space! Step into this beautifully updated bungalow designed for modern, convenient living. Featuring a unique floorplan, this home offers two spacious bedrooms and two full bathrooms, perfect for comfort and functionality. The heart of the home boasts stylish updates throughout, creating a warm and inviting atmosphere. Upstairs, you’ll find a large unfinished flex space—ideal for storage, a future home office, or a creative space to make your own. Outside, enjoy a cozy yard and the charm of a quiet neighborhood. Located just minutes from restaurants, shopping, and parks, this home combines peaceful living with

Key facts

• Cozy yard
• Quiet neighborhood
• Unique floorplan

Tags

• UNIQUE FLOORPLAN
• LARGE UNFINISHED FLEX SPACE
• COZY YARD
• QUIET NEIGHBORHOOD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One level
• Construction: Composition roof
• Exterior features: Porch; Level lot

Interior

• Kitchen: Microwave; Free-standing range; Electric water heater
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Ductless heating; Electric cooling
• Interior features: Laminate counters; Open floorplan; Fireplace (1)
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $185k.

Deal economics

• At list price, monthly cash flow is $30 ($363/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 $143k (22.7% below list).
• Recommended offer: $143k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.2% 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: Calhoun Academy of The Arts (math 41% / reading 37%, grade F, #301 of 597 statewide, top 51%, 473 students, 100% FRL); Glenview Middle (math 38% / reading 45%, grade F, #68 of 229 statewide, top 31%, 733 students, 69% FRL); T. L. Hanna High (math 63% / reading 91%, grade A-, #28 of 196 statewide, top 16%, 1,910 students, 53% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.5%/yr); 685 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $6k 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 65 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $185k implies a 2211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $143,018 (22.7% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.55% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.56×
• Total profit: $-22,831
• Equity at exit: $27,569

10-year hold

• IRR: 1.3%
• Equity multiple: 1.11×
• Total profit: $5,600
• Equity at exit: $15,987

Cash invested: $51,772 (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 29621

• Rents YoY: 6.5%
• Active inventory: 685
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$970
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $30

Break-even live

Break-even rent $1,392

Max offer price $184,900

Occupancy floor 93%

Sensitivity live

Price	-10% $135	-5% $83	+0% $30	+5% $-22	+10% $-74
Rent	-10% $-83	-5% $-26	+0% $30	+5% $87	+10% $143
Rate	-1.0pp $123	-0.5pp $77	base $30	+0.5pp $-18	+1.0pp $-66

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 Pickens St Anderson, SC	2.0	1.0	1185	$1,195	$1.01	25d	1	0.25mi
509 N Fant St Anderson, SC	3.0	1.5	1500	$1,450	$0.97	23d	1	0.98mi
305 Cedar Rdg Anderson, SC	3.0	2.5	1603	$1,745	$1.09	4d	1	1.10mi
611 Bonham Ct Unit A Anderson, SC	2.0	1.0	963	$1,150	$1.19	25d	1	1.11mi
201 S Murray Ave Anderson, SC	1.0–2.0	1.0–2.0	1010	$2,200	$2.18	4d	1	1.13mi
119 Woodland Dr Unit B Anderson, SC	2.0	1.5	1100	$895	$0.81	25d	1	1.19mi
209 Polaris St Anderson, SC	3.0	2.0	1500	$1,500	$1.00	12d	1	1.20mi
226 Islay WAY Anderson, SC	3.0	2.5	1411	$1,695	$1.20	4d	1	1.20mi
1416 Hilltop Dr Anderson, SC	3.0	2.0	1554	$2,050	$1.32	16d	1	1.25mi

Listing history 27 events

1. 2026-06-21
   days on market $184,900 Active 65 DOM
2. 2026-06-18
   days on market $184,900 Active 62 DOM
3. 2026-06-17
   days on market $184,900 Active 61 DOM
4. 2026-06-16
   days on market $184,900 Active 60 DOM
5. 2026-06-15
   days on market $184,900 Active 59 DOM
6. 2026-06-13
   days on market $184,900 Active 57 DOM
7. 2026-06-10
   days on market $184,900 Active 54 DOM
8. 2026-06-09
   days on market $184,900 Active 53 DOM
9. 2026-06-08
   days on market $184,900 Active 52 DOM
10. 2026-06-07
    days on market $184,900 Active 51 DOM
11. 2026-06-05
    days on market $184,900 Active 48 DOM
12. 2026-06-03
    days on market $184,900 Active 47 DOM
13. 2026-06-03
    days on market $184,900 Active 46 DOM
14. 2026-06-01
    days on market $184,900 Active 45 DOM
15. 2026-05-31
    days on market $184,900 Active 44 DOM
16. 2026-05-04
    price $184,900
17. 2026-04-17
    listed $215,000 Active
18. 2026-03-10
    price $215,000
19. 2026-01-19
    price $219,000
20. 2025-12-23
    listed $225,000 Active
21. 2015-07-13
    soldstatus $8,000 SOLD-INNER OFFICE
22. 2015-06-17
    status UNDER CONTRACT
23. 2015-03-28
    listed $11,000 ACTIVE
24. 2015-01-16
    historical
25. 2014-01-15
    listed $12,000
26. 2011-06-28
    soldstatus $8,000
27. 2011-04-05
    listed $9,900

ⓘ 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: $635 · $53/mo
• Projected year-2 tax: $1,054 · $88/mo
• Expected delta: +$419/yr (+$35/mo · 66.1%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $17,162
• − Mortgage interest: −$10,357
• − Property taxes: −$635
• − Insurance: −$924
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$5,379
• Taxable loss: −$2,879
• Est. tax savings @ 24.0%: +$691
• After-tax cash flow: $1,054/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): 46,482
• Household income: $74,256
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 1268.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Serbian 3% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -173.39%
• Current HPI: 233.3422
• Rent YoY: ▲ 6.55%
• 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

+1767.7% since first listed

12 events — show timeline

• 2026-05-04 Price Changed $184,900 SPMLS
• 2026-04-17 Listed $215,000 SPMLS
• 2026-03-10 Price Changed $215,000 SPMLS
• 2026-01-19 Price Changed $219,000 SPMLS
• 2025-12-23 Listed $225,000 SPMLS
• 2015-07-13 Sold (MLS) $8,000 WUMLS
• 2015-06-17 Pending — WUMLS
• 2015-03-28 Listed $11,000 WUMLS
• 2015-01-16 Listing Removed — WUMLS
• 2014-01-15 Listed $12,000 WUMLS
• 2011-06-28 Sold (MLS) $8,000 WUMLS
• 2011-04-05 Listed $9,900 WUMLS

Property tax history

-3.1%/yr

Latest (2025): $635 · +7.0% YoY. Source: county tax records.