12 Southwoode Cir · Chapin, SC 29036

$255,000

2 bd · 2.0 ba · 1,289 sqft · Condo public records · 37 Days on market

Built 2005

---

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 +4.5/10.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

High ceilings in living room and den and bedrooms

Key facts

• High ceilings
• Built 2005
• Listed 37 days

Tags

• HIGH CEILINGS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $-31 ($-377/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (27.3% below list).
• Recommended offer: $185k (27.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#133 in SC) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Lexington 05 (suburban): math 47% / reading 55% proficiency, ranked #5 of 80 in SC (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 434 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).

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 37 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $155k; list at $255k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,362 (27.3% 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 37 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-43,457
• Equity at exit: $38,021

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-40,968
• Equity at exit: $22,048

Cash invested: $71,400 (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 29036

• Active inventory: 434
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,854 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$52 /mo · $627/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-31

Break-even live

Break-even rent $1,893

Max offer price $249,453

Occupancy floor 97%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Columbia Ave Chapin, SC	3.0	2.0	1435	$1,625	$1.13	3d	1	0.56mi
305 Clark St Chapin, SC	3.0	2.0	1650	$1,750	$1.06	3d	1	0.59mi
120 W Horn Ct Chapin, SC	2.0	2.0	1080	$1,995	$1.85	21d	1	0.86mi
129 Fair Haven Way Chapin, SC	2.0	2.0	1080	$1,550	$1.44	3d	1	0.96mi
151 Fair Haven Way Chapin, SC	2.0	2.0	1080	$1,625	$1.50	3d	1	0.98mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $255,000 Active 37 DOM
2. 2026-06-17
   days on market $255,000 Active 36 DOM
3. 2026-06-16
   days on market $255,000 Active 35 DOM
4. 2026-06-15
   days on market $255,000 Active 34 DOM
5. 2026-06-14
   days on market $255,000 Active 32 DOM
6. 2026-06-13
   days on market $255,000 Active 31 DOM
7. 2026-06-10
   days on market $255,000 Active 29 DOM
8. 2026-06-09
   days on market $255,000 Active 28 DOM
9. 2026-06-08
   days on market $255,000 Active 27 DOM
10. 2026-06-07
    days on market $255,000 Active 26 DOM
11. 2026-06-03
    days on market $255,000 Active 22 DOM
12. 2026-06-03
    days on market $255,000 Active 21 DOM
13. 2026-06-01
    days on market $255,000 Active 20 DOM
14. 2026-05-31
    days on market $255,000 Active 19 DOM
15. 2026-05-12
    listed $255,000 Active
16. 2019-05-09
    soldstatus $155,000
17. 2018-11-13
    soldstatus $154,200
18. 2005-08-03
    soldstatus $155,000
19. 2003-10-03
    soldstatus $127,526

ⓘ 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: $627 · $52/mo
• Projected year-2 tax: $1,454 · $121/mo
• Expected delta: +$826/yr (+$69/mo · 131.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $22,243
• − Mortgage interest: −$14,284
• − Property taxes: −$627
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − Depreciation: −$7,418
• Taxable loss: −$4,920
• Est. tax savings @ 24.0%: +$1,181
• After-tax cash flow: $804/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 05
• NCES district ID: 4502820
• Math proficiency: 47% ▼ -7.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $67,732
• Composite: 45.28/100
• National rank: #2656
• State rank: #5 of 80 in SC

Livability — Chapin

• Score: 65/100
• State rank: #133
• US rank: #12994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chapin, SC
• County: Lexington County · 232,571 people
• City population: 26,620
• Metro: Columbia, SC
• Population (ZIP): 26,620
• Household income: $113,986
• Rent vs Own: 8.1% rent · 91.9% own
• Severe rent burden: 212.0

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 (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 4% Italian 2%
• Foreign-born: 6% · Canada, South Korea, China
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Korean 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: ▼ -134.76%
• Current HPI: 248.3807
• Rent YoY: —
• 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

+100.0% since first listed

5 events — show timeline

• 2026-05-12 Listed $255,000 FSBO.com
• 2019-05-09 Sold (Public Records) $155,000 Public Records
• 2018-11-13 Sold (Public Records) $154,200 Public Records
• 2005-08-03 Sold (Public Records) $155,000 Public Records
• 2003-10-03 Sold (Public Records) $127,526 Public Records

Property tax history

-12.4%/yr

Latest (2024): $627 · +1.2% YoY. Source: county tax records.