505 Cathcart Dr · Anderson, SC 29624

$149,000

2 bd · 1.0 ba · 917 sqft · Other public records · 55 Days on market

5,227 sqft 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 +16.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Appreciation +4.0/10.0
• Schools +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located just minutes from downtown Anderson, this home offers a practical mix of recent updates, solid fundamentals, and room to add value. Fresh paint and new flooring create a clean starting point, while an updated bathroom and newer vinyl windows improve everyday function and efficiency. Big-ticket items are already addressed, with an HVAC approximately 2 years old, a roof around 5 years old, and a water heater about 3 years old. A detached storage building with a concrete floor adds flexible space for storage or projects. The home is livable as-is, with the opportunity to make thoughtful improvements over time. Well priced for its location and condition, this property makes sense for both homeowners and investors looking ahead.

Key facts

• Hvac
• Fresh paint
• Newer vinyl windows

Tags

• DETACHED STORAGE BUILDING
• UPDATED BATHROOM
• NEWER VINYL WINDOWS
• FRESH PAINT
• NEW FLOORING
• HVAC

Property features AI

Finance

• HOA & community: No HOA fees or community amenities

Exterior

• Parking: Paved asphalt driveway; Driveway parking; Workshop in garage/parking area; Other/See Remarks
• Utilities: Public water; Public sewer; Electric water heater; Private garbage pickup; Electric power
• Home design: Single-story residence; Approximately 50+ years old; Lead based paint and residential property disclosures required
• Construction: Vinyl siding exterior; Architectural roof; Crawl space foundation; Attic, garage, and outbuilding storage
• Exterior features: Front porch and additional porch; Patio; Vinyl/aluminum trim; Barn/stall; RV/boat parking; Other/See Remarks

Interior

• Kitchen: Kitchen (approx. 12 x 11); Electric oven
• Bedrooms: Primary bedroom on main level with full bath and tub/shower (approx. 13 x 11); Second bedroom on main level (approx. 12 x 11); Two total main-level bedrooms
• Flooring: Hardwood/pine beneath carpet; Laminate flooring; Vinyl flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Open floor plan; Cable available; Walk-in closet; Window treatments remain; Other/See Remarks
• Laundry & utility: Laundry on the 1st floor; Laundry room listed as a specialty room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $149k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/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 $130k (12.7% below list).
• Recommended offer: $130k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: New Prospect Elementary (math 33% / reading 29%, grade F, #385 of 597 statewide, top 65%, 464 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 46% district-wide (-16 pts) — the specific schools serving this property underperform the Anderson 05 average; the district grade overstates school quality for this exact location.
• Market conditions: 114 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,255 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• At $1,301/mo this rent would consume 51% of the median local household income ($31k/yr) (locally 843% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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 55 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y 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 $76k; list at $149k implies a 96% 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 $130,147 (12.7% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.87% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.69%
• DSCR: 1.12
• GRM: 9.5

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: -7.4%
• Equity multiple: 0.71×
• Total profit: $-12,283
• Equity at exit: $28,531

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $2,104
• Equity at exit: $23,996

Cash invested: $41,720 (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: 114
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$781
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $94

Break-even live

Break-even rent $1,183

Max offer price $149,000

Occupancy floor 88%

Sensitivity live

Price	-10% $178	-5% $136	+0% $94	+5% $51	+10% $9
Rent	-10% $-9	-5% $42	+0% $94	+5% $145	+10% $196
Rate	-1.0pp $169	-0.5pp $132	base $94	+0.5pp $55	+1.0pp $16

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S Murray Ave Anderson, SC	1.0–2.0	1.0–2.0	1010	$2,200	$2.18	3d	1	0.60mi
402 N Main St Anderson, SC	2.0	1.0–1.5	526	$2,195	$4.17	3d	5	0.78mi
121 E Sharpe St Unit 123 Anderson, SC	2.0	1.0	840	$1,075	$1.28	24d	1	0.83mi
121 E Sharpe St Unit 127 Anderson, SC	1.0	1.0	723	$950	$1.31	24d	1	0.83mi
7 O St Anderson, SC	3.0	1.0	1100	$1,275	$1.16	15d	1	1.01mi
611 Bonham Ct Unit A Anderson, SC	2.0	1.0	963	$1,150	$1.19	24d	1	1.06mi
1206 Stephens St Anderson, SC	3.0	1.0	1100	$995	$0.90	24d	1	1.14mi

Listing history 29 events

1. 2026-06-18
   days on market $149,000 Active 55 DOM
2. 2026-06-17
   days on market $149,000 Active 54 DOM
3. 2026-06-16
   days on market $149,000 Active 53 DOM
4. 2026-06-15
   days on market $149,000 Active 52 DOM
5. 2026-06-13
   days on market $149,000 Active 50 DOM
6. 2026-06-10
   days on market $149,000 Active 47 DOM
7. 2026-06-09
   days on market $149,000 Active 46 DOM
8. 2026-06-08
   days on market $149,000 Active 45 DOM
9. 2026-06-07
   days on market $149,000 Active 44 DOM
10. 2026-06-05
    days on market $149,000 Active 41 DOM
11. 2026-06-03
    days on market $149,000 Active 40 DOM
12. 2026-06-03
    days on market $149,000 Active 39 DOM
13. 2026-06-01
    days on market $149,000 Active 38 DOM
14. 2026-05-31
    days on market $149,000 Active 37 DOM
15. 2026-04-24
    listed $149,000 Active
16. 2026-04-19
    listed $149,000 Active 741-char remark

    Show marketing remark (741 chars)

    Located just minutes from downtown Anderson, this home offers a practical mix of recent updates, solid fundamentals, and room to add value. Fresh paint and new flooring create a clean starting point, while an updated bathroom and newer vinyl windows improve everyday function and efficiency. Big-ticket items are already addressed, with an HVAC approximately 2 years old, a roof around 5 years old, and a water heater about 3 years old. A detached storage building with a concrete floor adds flexible space for storage or projects. The home is livable as-is, with the opportunity to make thoughtful improvements over time. Well priced for its location and condition, this property makes sense for both homeowners and investors looking ahead.

17. 2026-03-23
    historical
18. 2026-03-23
    historical
19. 2026-03-17
    historical Active Under Contract
20. 2026-03-17
    historical Contingency Contract
21. 2026-01-08
    listed $135,000 Active
22. 2026-01-08
    listed $135,000 Active
23. 2025-12-24
    historical
24. 2025-12-24
    historical
25. 2025-11-20
    listed $139,000 Active
26. 2025-11-19
    listed $139,000 Active
27. 2025-11-17
    soldstatus $76,000
28. 2013-07-31
    historical
29. 2013-01-10
    listed $37,900

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,093 · $91/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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $15,618
• − Mortgage interest: −$8,346
• − Property taxes: −$1,093
• − Insurance: −$745
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$4,335
• Taxable loss: −$1,400
• Est. tax savings @ 24.0%: +$336
• After-tax cash flow: $1,460/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

+293.1% since first listed

15 events — show timeline

• 2026-04-24 Listed $149,000 Greater Greenville MLS
• 2026-04-19 Listed $149,000 WUMLS
• 2026-03-23 Listing Removed — Greater Greenville MLS
• 2026-03-23 Listing Removed — WUMLS
• 2026-03-17 Contingent — WUMLS
• 2026-03-17 Contingent — Greater Greenville MLS
• 2026-01-08 Listed $135,000 Greater Greenville MLS
• 2026-01-08 Listed $135,000 WUMLS
• 2025-12-24 Listing Removed — WUMLS
• 2025-12-24 Listing Removed — Greater Greenville MLS
• 2025-11-20 Listed $139,000 Greater Greenville MLS
• 2025-11-19 Listed $139,000 WUMLS
• 2025-11-17 Sold (Public Records) $76,000 Public Records
• 2013-07-31 Listing Removed — WUMLS
• 2013-01-10 Listed $37,900 WUMLS

Property tax history

+2.1%/yr

Latest (2025): $1,093 · +4.5% YoY. Source: county tax records.