105 May Morning Ct · Lexington, SC 29073

$249,000

3 bd · 2.0 ba · 1,401 sqft · SingleFamily public records · 49 Days on market

Built 1980 0.38 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 +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated and renovated 3-bedroom, 2 bathroom home in a culdesac on large 0.38 acre lot in Spring Lake, zoned for Meadow Glen and River Bluff! With a whole home update to include fully painted exterior and interior, new LVP flooring throughout, and updated kitchens and bathrooms, this home is move-in ready and packed with desirable features. Covered front porch with room for sitting, large great room with wood burning fireplace. Updated kitchen boasts marble countertops, a tiled backsplash, shaker door cabinets, and stainless appliances including a dishwasher, range hood, and smooth-surface range, as well as sink and faucet. Kitchen also opens to a large eat-in area with new chand

Key facts

• 0.38 acre lot
• 3 parking spots
• Built 1980

Property features AI

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: One-story home; House faces southwest/west
• Construction: Wood fiber/Masonite exterior; Crawlspace foundation
• Exterior features: Covered front porch; Covered back porch; Deck; Rear chain-link fence

Interior

• Kitchen: Eat-in kitchen; Tiled backsplash; Painted cabinets; Marble countertops; Smooth-surface free-standing range; Dishwasher
• Bedrooms: Master bedroom on main level with his-and-hers closets, private bath, separate shower, walk-in closet, and luxury vinyl plank floors; Two additional bedrooms on main level with private closets, shared bath, tub/shower, and luxury vinyl plank floors
• Flooring: Luxury vinyl plank flooring throughout main living areas and bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating and cooling; Heat pump serving first level
• Interior features: Pull-down access attic; Wood-burning fireplace; Fireplace in living area; Ceiling fans in living areas and master bedroom
• Laundry & utility: Main-level laundry in closet (heated space); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/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 $216k (13.1% below list).
• Recommended offer: $216k (13.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#8 in SC, #1,502 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, employment A; Watch: 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); 564 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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 $7k 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 49 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $170k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,432 (13.1% below list)

Questions for the listing agent

1. It's been on market 49 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.87% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-24,211
• Equity at exit: $37,127

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $833
• Equity at exit: $21,529

Cash invested: $69,720 (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 29073

• Home prices YoY: -19.1%
• Rents YoY: 3.2%
• Active inventory: 564
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,164 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$53 /mo · $638/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $247

Break-even live

Break-even rent $1,852

Max offer price $249,000

Occupancy floor 84%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Compass Ln Lexington, SC	3.0	2.0	1784	$1,981	$1.11	14d	1	0.33mi
308 Chisolm Ct Lexington, SC	3.0	2.0	1305	$1,800	$1.38	23d	1	1.19mi

Listing history 32 events

1. 2026-06-18
   days on market $249,000 Active 49 DOM
2. 2026-06-17
   days on market $249,000 Active 48 DOM
3. 2026-06-16
   days on market $249,000 Active 47 DOM
4. 2026-06-15
   days on market $249,000 Active 46 DOM
5. 2026-06-14
   days on market $249,000 Active 44 DOM
6. 2026-06-10
   days on market $249,000 Active 41 DOM
7. 2026-06-09
   days on market $249,000 Active 40 DOM
8. 2026-06-08
   days on market $249,000 Active 39 DOM
9. 2026-06-07
   pricedays on market $249,000 Active 38 DOM
10. 2026-06-03
    days on market $249,900 Active 34 DOM
11. 2026-06-03
    days on market $249,900 Active 33 DOM
12. 2026-06-02
    days on market $249,900 Active 32 DOM
13. 2026-05-31
    days on market $249,900 Active 31 DOM
14. 2026-05-22
    price $249,900
15. 2026-04-30
    listed $255,000 Active
16. 2026-04-22
    price $263,500
17. 2026-04-03
    price $264,500
18. 2026-02-19
    listed $265,000 Active
19. 2025-12-28
    status Pending
20. 2025-12-13
    historical Active - Contingent
21. 2025-12-03
    price $259,000
22. 2025-11-26
    price $264,000
23. 2025-11-21
    price $264,500
24. 2025-11-05
    listed $265,000 Active
25. 2025-09-16
    soldstatus $170,000
26. 2025-09-09
    status Pending
27. 2025-08-25
    historical Active - Contingent
28. 2025-08-18
    price $199,900
29. 2025-07-25
    price $204,900
30. 2025-07-11
    listed $209,000 Active
31. 2004-06-01
    soldstatus $109,900
32. 1994-10-01
    soldstatus $66,700

ⓘ 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: $638 · $53/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$781/yr (+$65/mo · 122.5%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $25,972
• − Mortgage interest: −$13,948
• − Property taxes: −$638
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,078
• − Management: −$2,078
• − Depreciation: −$7,244
• Taxable loss: −$1,258
• Est. tax savings @ 24.0%: +$302
• After-tax cash flow: $3,267/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 — Lexington

• Score: 81/100
• State rank: #8
• US rank: #1502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• City population: 122,563
• 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

+274.7% since first listed

19 events — show timeline

• 2026-05-22 Price Changed $249,900 Consolidated MLS
• 2026-04-30 Listed $255,000 Consolidated MLS
• 2026-04-22 Price Changed $263,500 Consolidated MLS
• 2026-04-03 Price Changed $264,500 Consolidated MLS
• 2026-02-19 Listed $265,000 Consolidated MLS
• 2025-12-28 Pending — Consolidated MLS
• 2025-12-13 Contingent — Consolidated MLS
• 2025-12-03 Price Changed $259,000 Consolidated MLS
• 2025-11-26 Price Changed $264,000 Consolidated MLS
• 2025-11-21 Price Changed $264,500 Consolidated MLS
• 2025-11-05 Listed $265,000 Consolidated MLS
• 2025-09-16 Sold (Public Records) $170,000 Public Records
• 2025-09-09 Pending — Consolidated MLS
• 2025-08-25 Contingent — Consolidated MLS
• 2025-08-18 Price Changed $199,900 Consolidated MLS
• 2025-07-25 Price Changed $204,900 Consolidated MLS
• 2025-07-11 Listed $209,000 Consolidated MLS
• 2004-06-01 Sold (Public Records) $109,900 Public Records
• 1994-10-01 Sold (Public Records) $66,700 Public Records

Property tax history

-10.1%/yr

Latest (2024): $638 · +4.4% YoY. Source: county tax records.