489 Kippen Ln · Oak Grove, SC 29073

$268,000

3 bd · 2.5 ba · 1,540 sqft · SingleFamily public records · 26 Days on market

Built 2022 4,791 sqft lot Est $265k · at est. $38/mo HOA · 2% of rent

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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 +11.3/30.0
• ARV discount +7.0/15.0
• Schools +4.2/10.0
• DSCR +3.3/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained two-story home in Jessamine Place, offering 3 bedrooms and 2.5 baths with a thoughtfully designed open layout. The main level features seamless flow between the kitchen, dining, and living areas, ideal for everyday living and entertaining, along with stylish and durable LVP flooring and a convenient powder room. The kitchen is equipped with granite countertops, a spacious peninsula, and a pantry for added storage. Upstairs, the primary suite showcases a vaulted ceiling, dual sink vanity with granite countertops, a private bath, and a generous walk-in closet. Two additional bedrooms, a shared full bath, and an upstairs laundry room provide both comfort

Key facts

• Protected tree line
• Open layout
• Lvp flooring

Tags

• OPEN LAYOUT
• LVP FLOORING
• GRANITE COUNTERTOPS
• SPACIOUS PENINSULA
• FENCED BACKYARD
• PROTECTED TREE LINE

Property features AI

Finance

• HOA & community: Homeowner association present; Association fee covers common area maintenance

Exterior

• Parking: Attached garage (1 car) with a total of 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home; Stone and vinyl exterior
• Construction: Slab foundation
• Exterior features: Covered front porch; Covered back porch; Full gutters; Sprinkler system; Rear wood privacy fence

Interior

• Kitchen: Granite countertops; Painted cabinets; Eat-in kitchen with pantry; Smooth surface range; Microwave above range; Dishwasher
• Bedrooms: Master suite with double vanity, separate shower, walk-in closet, vaulted ceiling, and private closet (Second level); Two additional bedrooms with private closets and carpet (Second level)
• Flooring: Luxury vinyl plank flooring in living areas and kitchen; Carpet in bedrooms
• Bathrooms: Two full bathrooms; One half bathroom; Additional full baths: two (second bathrooms listed)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans in living area and master bedroom; Tankless water heater; Disposal
• Laundry & utility: Closet laundry (washer and dryer included) — laundry located on Second level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (25.5% below list).
• Recommended offer: $200k (25.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#114 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D, amenities F, commute F.
• Lexington 01 (suburban): math 42% / reading 53% proficiency, ranked #11 of 80 in SC (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadow Glen Elementary (math 70% / reading 67%, grade B+, #41 of 597 statewide, top 7%, 810 students, 13% FRL); River Bluff High (math 54% / reading 93%, grade B+, #43 of 196 statewide, top 22%, 2,197 students, 19% FRL).
• Zoned-school proficiency averages 71% at this address vs 48% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Lexington 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.2%/yr); 563 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,642 (25.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $264,880
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Duchess Trl	0.52mi	3/2.0	1,381 (-10%)	22mo	$237,900	$172	38

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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.34×
• Total profit: $-49,226
• Equity at exit: $39,960

10-year hold

• IRR: -10.8%
• Equity multiple: 0.34×
• Total profit: $-49,180
• Equity at exit: $23,172

Cash invested: $75,040 (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 29073

• Home prices YoY: -19.1%
• Rents YoY: 3.2%
• Active inventory: 563
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$1,405
• Tax from tax record: −$119 /mo · $1,434/yr
• Insurance: −$112
• HOA: −$38
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-97

Break-even live

Break-even rent $2,120

Max offer price $250,796

Occupancy floor 100%

Sensitivity live

Price	-10% $54	-5% $-22	+0% $-97	+5% $-173	+10% $-249
Rent	-10% $-255	-5% $-176	+0% $-97	+5% $-19	+10% $60
Rate	-1.0pp $38	-0.5pp $-29	base $-97	+0.5pp $-167	+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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Compass Ln Lexington, SC	3.0	2.0	1784	$1,981	$1.11	15d	1	0.46mi
308 Chisolm Ct Lexington, SC	3.0	2.0	1305	$1,800	$1.38	24d	1	0.60mi
3220 Woodsen Cir West Columbia, SC	3.0	2.0	1475	$1,800	$1.22	24d	1	1.24mi
105 Landford Ct Lexington, SC	3.0	2.0	1260	$1,450	$1.15	4d	1	1.34mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 5 events

1. 2026-05-21
   status Pending
2. 2026-05-06
   historical Active - Contingent
3. 2026-04-25
   listed $268,000 Active
4. 2021-11-05
   historical
5. 2021-10-26
   listed $236,744 Active

ⓘ 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: $1,434 · $119/mo
• Projected year-2 tax: $1,528 · $127/mo
• Expected delta: +$94/yr (+$8/mo · 6.6%)

ⓘ 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 ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,957
• − Mortgage interest: −$15,012
• − Property taxes: −$1,434
• − Insurance: −$1,340
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − HOA: −$456
• − Depreciation: −$7,796
• Taxable loss: −$5,914
• Est. tax savings @ 24.0%: +$1,419
• After-tax cash flow: $251/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: Lexington 01
• NCES district ID: 4502700
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $61,298
• Composite: 41.75/100
• National rank: #3399
• State rank: #11 of 80 in SC

Livability — Oak Grove

• Score: 66/100
• State rank: #114
• US rank: #11681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• Metro: Columbia, SC
• Population (ZIP): 53,156
• Household income: $77,229
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 935.0

Population outlook (Lexington County) Hauer SSP2

• Today (2025): 322,999 people
• By 2030: 342,356 · +6.0%
• By 2040: 377,715 · +16.9%
• By 2050: 406,984 · +26.0%
• By 2075: 465,447 · +44.1%
• By 2100: 485,674 · +50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 14% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Lexington

• 2024 margin: Solid R (+33.5) · D 32.5% · R 66.0% · Other 1.4%
• 2008→2024 swing: +4.6pp toward D · 2008: -38.0pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.1 2016: R+36.7 2012: R+37.8 2008: R+38.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.20%
• Current HPI: 249.8957
• Rent YoY: ▲ 3.24%
• Metro: Columbia, 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

+13.2% since first listed

5 events — show timeline

• 2026-05-21 Pending — Consolidated MLS
• 2026-05-06 Contingent — Consolidated MLS
• 2026-04-25 Listed $268,000 Consolidated MLS
• 2021-11-05 Delisted — Consolidated MLS
• 2021-10-26 Listed $236,744 Consolidated MLS

Property tax history

+174.2%/yr

Latest (2024): $1,434 · +4.4% YoY. Source: county tax records.