The Bancroft Plan · Red Bank, SC 29073

$242,900

3 bd · 2.0 ba · 1,554 sqft · SingleFamily · 55 Days on market

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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 +12.6/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into The Bancroft, where easy main level living awaits to simplify your lifestyle. Discover the spacious primary suite, boasting an ensuite bathroom and a walk-in closet conveniently located just off the family room, ensuring comfort and convenience at every turn. As you enter through the foyer, you'll be greeted by two generously sized bedrooms that share a full bathroom, providing ample space for relaxation and rejuvenation. Transitioning further into the home, the open concept design seamlessly integrates the kitchen, dining space, and family room, creating a welcoming environment ideal for entertaining and making cherished memories with loved ones. Embrace the functionality and sty

Key facts

• 2 garage spots
• Listed 55 days

Property features AI

Finance

• Other: Address: Lexington, SC 29073
• Financial info: List price $242,900

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family plan (The Bancroft); Active listing
• Exterior features: Living area approximately 1,554

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Plan: The Bancroft (new construction)

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $243k.

Deal economics

• At list price, monthly cash flow is $-30 ($-358/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (14.1% below list).
• Recommended offer: $209k (14.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#121 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment C-, crime D+, schools 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.
• Market conditions: Rents rising (+3.2%/yr); 564 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 32% 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 55 days — a 3% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

Recommended offer $208,713 (14.1% 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. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 0.86% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 9.7

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-40,721
• Equity at exit: $36,217

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-35,692
• Equity at exit: $21,002

Cash invested: $68,012 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,087 high
• Mortgage (P&I): −$1,274
• Tax est. 1.5%: −$304 /mo · $3,644/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-30

Break-even live

Break-even rent $2,125

Max offer price $238,589

Occupancy floor 96%

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: $60,725
• Closing costs: $7,287
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 Lady Liberty Way Lexington, SC	3.0	3.0	1635	$1,995	$1.22	23d	1	0.18mi
464 Lady Liberty Way Lexington, SC	4.0	2.5	2100	$2,150	$1.02	23d	1	0.20mi
110 Darian Dr Lexington, SC	3.0	2.0	1364	$1,949	$1.43	14d	1	0.34mi
1603 Commendable Ct Lexington, SC	3.0	2.0	1399	$2,033	$1.45	3d	1	0.37mi
1607 Commendable Ct Lexington, SC	4.0	2.5	1783	$2,238	$1.26	23d	1	0.38mi
120 W Lake Dr Lexington, SC	3.0	2.0	1476	$1,880	$1.27	3d	1	0.75mi
140 Land of Lakes Cir Lexington, SC	3.0	2.0	1452	$1,925	$1.33	3d	1	0.80mi
212 Pin Oak Dr Lexington, SC	3.0	2.0	1349	$1,710	$1.27	14d	1	0.85mi
290 Browning Ct Unit b Lexington, SC	2.0	1.0	1100	$1,495	$1.36	21d	1	0.96mi
919 Dovefield Ln Lexington, SC	4.0	2.5	2022	$2,299	$1.14	23d	1	1.02mi
847 Dovefield Ln Lexington, SC	3.0	2.0	1302	$1,850	$1.42	14d	1	1.04mi

Listing history 13 events

1. 2026-06-18
   days on market $242,900 Active 55 DOM
2. 2026-06-17
   days on market $242,900 Active 54 DOM
3. 2026-06-16
   days on market $242,900 Active 53 DOM
4. 2026-06-15
   days on market $242,900 Active 52 DOM
5. 2026-06-14
   days on market $242,900 Active 50 DOM
6. 2026-06-10
   days on market $242,900 Active 47 DOM
7. 2026-06-09
   days on market $242,900 Active 46 DOM
8. 2026-06-08
   days on market $242,900 Active 45 DOM
9. 2026-06-07
   days on market $242,900 Active 44 DOM
10. 2026-06-03
    days on market $242,900 Active 40 DOM
11. 2026-06-03
    days on market $242,900 Active 39 DOM
12. 2026-06-02
    days on market $242,900 Active 38 DOM
13. 2026-05-31
    days on market $242,900 Active 37 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,046
• − Mortgage interest: −$13,606
• − Property taxes: −$3,644
• − Insurance: −$1,214
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$7,066
• Taxable loss: −$4,492
• Est. tax savings @ 24.0%: +$1,078
• After-tax cash flow: $721/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 — Red Bank

• Score: 66/100
• State rank: #121
• US rank: #11985

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

• Census place: Red Bank, SC
• 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