573 Canasta Dr · Gilbert, SC 29054

$207,700

3 bd · 2.0 ba · 1,104 sqft · Other public records · 110 Days on market

Built 1984 1.21 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 +12.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Experience Lake Murray with this completely renovated 3-bedroom, 2-bath home on over an acre of land! This wooded lot property offers both privacy and natural beauty. Inside, an open and inviting layout features soft neutral tones and abundant natural light, creating a warm and relaxing atmosphere. The primary bedroom includes a private bath, while updates throughout the home include modern finishes and a tankless hot water heater. Step out onto the private deck to enjoy peaceful wooded views with glimpses of the lake beyond. Whether you're looking for a full-time residence or a tranquil weekend getaway, this home delivers the perfect blend of comfort and serenity. Take a look today! Discl

Key facts

• Private deck
• Wooded lot
• Glimpses of the lake

Tags

• COMPLETELY RENOVATED
• WOODED LOT
• PRIVATE DECK
• PEACEFUL WOODED VIEWS
• GLIMPSES OF THE LAKE

Property features AI

Finance

• Other: Property includes about 1.21 acres; Dirt road access; 252 feet of frontage on Lake Murray

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Deck; Front uncovered porch; Back uncovered porch; Vinyl exterior

Interior

• Kitchen: Kitchen island; Breakfast bar; Tiled backsplash
• Bedrooms: Master bedroom on main level with private bath, separate shower, walk-in closet; Bedroom 2 on main level with shared bath and private closet; Bedroom 3 on main level with shared bath and private closet
• Flooring: Tile flooring throughout main living areas and bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Molding in living room; Ceiling fans; Recessed lighting; Heated laundry/mud room
• Laundry & utility: Laundry on main level in heated mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $208k.

Deal economics

• At list price, monthly cash flow is $-49 ($-591/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (21.9% below list).
• Recommended offer: $162k (21.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#52 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety 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: Gilbert Elementary (math 33% / reading 26%, grade F, #399 of 597 statewide, top 69%, 768 students, 45% FRL); Gilbert Middle (math 26% / reading 36%, grade F, #128 of 229 statewide, top 58%, 822 students, 40% FRL); Gilbert High (math 37% / reading 83%, grade C+, #109 of 196 statewide, top 55%, 1,118 students, 38% FRL).
• Market conditions: 280 active listings in the ZIP; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $58k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $82k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $208k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $162,311 (21.9% 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 110 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.89×
• Total profit: $109,941
• Equity at exit: $187,113

10-year hold

• IRR: 20.9%
• Equity multiple: 6.61×
• Total profit: $326,148
• Equity at exit: $403,515

Cash invested: $58,156 (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 29054

• Home prices YoY: 4.7%
• Active inventory: 280
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,623 medium
• Mortgage (P&I): −$1,089
• Tax from tax record: −$156 /mo · $1,869/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-49

Break-even live

Break-even rent $1,685

Max offer price $198,995

Occupancy floor 98%

Sensitivity live

Price	-10% $68	-5% $10	+0% $-49	+5% $-108	+10% $-167
Rent	-10% $-178	-5% $-113	+0% $-49	+5% $15	+10% $79
Rate	-1.0pp $55	-0.5pp $4	base $-49	+0.5pp $-103	+1.0pp $-158

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: $51,925
• Closing costs: $6,231
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-22
   days on market $207,700 Active 110 DOM
2. 2026-06-18
   days on market $207,700 Active 107 DOM
3. 2026-06-17
   days on market $207,700 Active 106 DOM
4. 2026-06-16
   days on market $207,700 Active 105 DOM
5. 2026-06-15
   days on market $207,700 Active 104 DOM
6. 2026-06-14
   days on market $207,700 Active 102 DOM
7. 2026-06-10
   days on market $207,700 Active 99 DOM
8. 2026-06-09
   days on market $207,700 Active 98 DOM
9. 2026-06-08
   days on market $207,700 Active 97 DOM
10. 2026-06-07
    days on market $207,700 Active 96 DOM
11. 2026-06-03
    days on market $207,700 Active 92 DOM
12. 2026-06-03
    pricedays on market $207,700 Active 91 DOM
13. 2026-06-02
    days on market $219,000 Active 90 DOM
14. 2026-05-31
    days on market $219,000 Active 89 DOM
15. 2026-05-09
    price $219,000
16. 2026-04-13
    price $249,900
17. 2026-03-19
    price $274,900
18. 2026-03-03
    listed $289,900 Active
19. 2026-02-11
    price $289,900
20. 2025-11-05
    price $298,900
21. 2025-09-29
    listed $299,900 Active
22. 2024-04-13
    historical
23. 2023-08-28
    price $220,900
24. 2023-06-13
    price $258,900
25. 2023-04-12
    listed $279,900 Active
26. 2013-10-16
    soldstatus $63,000
27. 2003-02-12
    soldstatus $19,000
28. 1999-09-27
    soldstatus $20,000

ⓘ 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: $1,869 · $156/mo
• Projected year-2 tax: $1,869 · $156/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $19,477
• − Mortgage interest: −$11,634
• − Property taxes: −$1,869
• − Insurance: −$1,038
• − Repairs & maintenance: −$1,558
• − Management: −$1,558
• − Depreciation: −$6,042
• Taxable loss: −$4,224
• Est. tax savings @ 24.0%: +$1,014
• After-tax cash flow: $422/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 — Gilbert

• Score: 71/100
• State rank: #52
• US rank: #7008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,137

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

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: ▲ 20.87%
• Current HPI: 461.9332
• Rent YoY: —
• Metro: —
• 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

+995.0% since first listed

14 events — show timeline

• 2026-05-09 Price Changed $219,000 Consolidated MLS
• 2026-04-13 Price Changed $249,900 Consolidated MLS
• 2026-03-19 Price Changed $274,900 Consolidated MLS
• 2026-03-03 Listed $289,900 Consolidated MLS
• 2026-02-11 Price Changed $289,900 Consolidated MLS
• 2025-11-05 Price Changed $298,900 Consolidated MLS
• 2025-09-29 Listed $299,900 Consolidated MLS
• 2024-04-13 Delisted — Consolidated MLS
• 2023-08-28 Price Changed $220,900 Consolidated MLS
• 2023-06-13 Price Changed $258,900 Consolidated MLS
• 2023-04-12 Listed $279,900 Consolidated MLS
• 2013-10-16 Sold (Public Records) $63,000 Public Records
• 2003-02-12 Sold (Public Records) $19,000 Public Records
• 1999-09-27 Sold (Public Records) $20,000 Public Records

Property tax history

+3.3%/yr

Latest (2024): $1,869 · +1422.4% YoY. Source: county tax records.