112 Blackstone Dr · Lake Murray of Richland, SC 29036

$259,000

3 bd · 2.0 ba · 1,434 sqft · SingleFamily public records · 17 Days on market

Built 2003 8,276 sqft lot $29/mo HOA · 1% 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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

What a great house in Waterfall! ZONED FOR CHAPIN SCHOOLS! This one-story, well-mainted home is ready for its next chapter. Current owner has made many improvements, including the addition of a sunroom to take advantage of the beautifully landscaped backyard. The garage and driveway have been professionally sealed, new LVP flooring throughout, gutter guards and a new roof & HVAC installed in 2023. This is a great floorplan, you'll find all the bedrooms on the main floor and there's even room for a dining room in this square footage. The high ceilings in the dining and living areas, as well as in the primary bedroom make it feel even more airy and spacious. The backyard is fully fenced

Key facts

• New lvp flooring
• Gutter guards
• New roof

Tags

• ZONED FOR CHAPIN SCHOOLS
• ADDITION OF A SUNROOM
• PROFESSIONALLY SEALED GARAGE
• NEW LVP FLOORING
• GUTTER GUARDS
• NEW ROOF

Property features AI

Finance

• HOA & community: Homeowners association in place; Association maintains common areas, playground, sidewalks, and green areas

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; House faces northwest
• Construction: Slab foundation
• Exterior features: Partial brick (above foundation) and vinyl exterior; Rear wood fencing; Full gutters; Covered front porch; Automatic sprinkler system; Paved road access

Interior

• Kitchen: Eat-in kitchen with pantry; Tile countertops and tiled backsplash; Stained wood cabinets; Luxury vinyl plank flooring
• Bedrooms: Main-level primary bedroom with double vanity, garden tub, private bath, separate shower, walk-in closet, private closet, separate water closet, and luxury vinyl plank flooring; Main-level bedroom 2 with shared bath, tub/shower, private closet, and luxury vinyl plank flooring; Main-level bedroom 3 with shared bath, tub/shower, ceiling fan, private closet, and luxury vinyl plank flooring
• Flooring: Luxury vinyl plank flooring throughout main living areas and bedrooms; Tile in formal dining room
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating with gas on the first level; Central cooling with heat pump on the first level
• Interior features: Vaulted ceilings in the living room; Ceiling fans in living room and bedroom 3; Formal dining area with high ceilings and tile flooring; Florida room
• Laundry & utility: Heated laundry space; Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $272 ($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 $241k (6.9% below list).
• Recommended offer: $241k (6.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#102 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Lake Murray Elementary (math 78% / reading 82%, grade A+, #4 of 597 statewide, top 1%, 809 students, 18% FRL); Chapin High (math 82% / reading 91%, grade A, #7 of 196 statewide, top 4%, 1,615 students, 100% FRL) — zoned schools average 59% FRL vs 27% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 83% at this address vs 51% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Lexington 05 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 443 active listings in the ZIP; high-income renter base; 3,472 units permitted in Richland County in 2024 (1,096 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.
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $154k; list at $259k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% 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 $241,242 (6.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.93% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 8.9

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-24,736
• Equity at exit: $38,618

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $486
• Equity at exit: $22,394

Cash invested: $72,520 (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: 443
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,412 medium
• Mortgage (P&I): −$1,358
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$108
• HOA: −$29
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $272

Break-even live

Break-even rent $2,069

Max offer price $259,000

Occupancy floor 84%

Sensitivity live

Price	-10% $418	-5% $345	+0% $272	+5% $198	+10% $125
Rent	-10% $81	-5% $176	+0% $272	+5% $367	+10% $462
Rate	-1.0pp $402	-0.5pp $337	base $272	+0.5pp $204	+1.0pp $136

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr
• Likely covers: water

Listing history 4 events

1. 2026-05-23
   status Pending
2. 2026-05-09
   historical Active - Contingent
3. 2026-05-06
   listed $259,000 Active
4. 2017-12-19
   soldstatus $154,000

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $1,670 · $139/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,949
• − Mortgage interest: −$14,508
• − Property taxes: −$1,670
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − HOA: −$348
• − Depreciation: −$7,535
• Taxable loss: −$1,038
• Est. tax savings @ 24.0%: +$249
• After-tax cash flow: $3,507/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 — Lake Murray of Richland

• Score: 67/100
• State rank: #102
• US rank: #10903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• City population: 179
• 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 (Richland County) Hauer SSP2

• Today (2025): 459,667 people
• By 2030: 487,524 · +6.1%
• By 2040: 542,035 · +17.9%
• By 2050: 595,371 · +29.5%
• By 2075: 732,998 · +59.5%
• By 2100: 820,415 · +78.5%

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 · Richland

• 2024 margin: Solid D (+34.6) · D 66.4% · R 31.8% · Other 1.8%
• 2008→2024 swing: +5.7pp toward D · 2008: 28.9pp · 2024: 34.6pp
• All cycles: 2024: D+34.6 2020: D+38.3 2016: D+32.9 2012: D+33.3 2008: D+28.9

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

+68.2% since first listed

4 events — show timeline

• 2026-05-23 Pending — Consolidated MLS
• 2026-05-09 Contingent — Consolidated MLS
• 2026-05-06 Listed $259,000 Consolidated MLS
• 2017-12-19 Sold (Public Records) $154,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,670 · -67.8% YoY. Source: county tax records.