718 Gary St · Anderson, SC 29624

$50,000

2 bd · 1.0 ba · 812 sqft · Other public records · 6 Days on market

8,712 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.0/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Attention investors, flippers and rehab enthusiasts! This fixer-upper is full of potential and ready for a complete transformation. Situated on a spacious lot, this property offers an excellent opportunity to add value and bring your vision to life. Whether you are looking for your next flip, rental property, or renovation project, the possibilities are endless. This home is ready to be reimagined from top to bottom. Being SOLD AS IS, bring your ideas, your contractor and your creativity to turn this project into your next successful investment.

Key facts

• Spacious lot
• 8,712 sq ft lot
• Listed 6 days

Tags

• SPACIOUS LOT

Property features AI

Finance

• HOA & community: No HOA fees or community amenities listed

Exterior

• Parking: Paved concrete driveway
• Utilities: Public water; Public sewer; Water heater: Other (see remarks); Garbage pickup: None
• Home design: Single-story home; Lead-based paint disclosure required; Residential property disclosure required
• Construction: Composition shingle roof; Crawl space foundation; Approximate age: Unknown
• Exterior features: Enclosed porch; Patio; Partial brick veneer exterior

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: 2 bedrooms on the main level; Primary bedroom approximately 9 x 14; Second bedroom approximately 6 x 14
• Flooring: Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Wall/window units
• Interior features: Ceiling fan; Other interior features (see remarks)
• Laundry & utility: No laundry room listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 22.1% 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: Varennes Elementary (math 18% / reading 18%, grade F, #508 of 597 statewide, top 86%, 370 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 18% at this address vs 46% district-wide (-28 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; 8 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 $1,268/mo this rent would consume 50% 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 $346 of loan paydown is wiped out by about $1k 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.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.54% ✓
• Cap rate: 22.10%
• Cash-on-cash: 56.45%
• DSCR: 3.51
• GRM: 3.3

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: 15.0%
• Equity multiple: 1.64×
• Total profit: $8,946
• Equity at exit: $9,574

10-year hold

• IRR: 22.5%
• Equity multiple: 3.12×
• Total profit: $29,725
• Equity at exit: $8,052

Cash invested: $14,000 (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 29624

• Home prices YoY: -0.5%
• Active inventory: 114
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,268 high
• Mortgage (P&I): −$262
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $232

Break-even live

Break-even rent $974

Max offer price $50,000

Occupancy floor 77%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	2d	1	0.73mi
402 N Main St Anderson, SC	2.0	1.0–1.5	526	$2,195	$4.17	2d	5	0.94mi
121 E Sharpe St Unit 123 Anderson, SC	2.0	1.0	840	$1,075	$1.28	23d	1	0.99mi
121 E Sharpe St Unit 127 Anderson, SC	1.0	1.0	723	$950	$1.31	23d	1	0.99mi
7 O St Anderson, SC	3.0	1.0	1100	$1,275	$1.16	14d	1	1.20mi
611 Bonham Ct Unit A Anderson, SC	2.0	1.0	963	$1,150	$1.19	23d	1	1.22mi
406 Sedona Dr Anderson, SC	1.0	1.0–1.5	474	$1,122	$2.37	2d	8	1.33mi
1206 Stephens St Anderson, SC	3.0	1.0	1100	$995	$0.90	23d	1	1.34mi

Listing history 6 events

1. 2026-06-18
   days on market $50,000 Active 6 DOM
2. 2026-06-17
   days on market $50,000 Active 5 DOM
3. 2026-06-16
   days on market $50,000 Active 4 DOM
4. 2026-06-15
   days on market $50,000 Active 3 DOM
5. 2026-06-13
   remarks 551-char remark
6. 2026-06-13
   listed $50,000 Active 1 DOM

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $722 · $60/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 6/10 Major FEMA zone AE · 75% 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: $15,217
• − Mortgage interest: −$2,801
• − Property taxes: −$722
• − Insurance: −$5,368
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$1,455
• Taxable income: $2,436
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $2,199/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

+177.8% since first listed

3 events — show timeline

• 2026-06-12 Listed $50,000 Greater Greenville MLS
• 2024-04-01 Sold (Public Records) $105,000 Public Records
• 2018-09-25 Sold (Public Records) $18,000 Public Records

Property tax history

+30.1%/yr

Latest (2025): $722 · +16.1% YoY. Source: county tax records.