224 Glencrest Dr · Gaston, SC 29053

$124,900

3 bd · 2.0 ba · 924 sqft · Other public records · 23 Days on market

Built 2017 Average condition 0.46 ac lot ↓ 17% since listing

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Why this score? — see what drove the C 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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.9/10.0

Listing remarks

Looking for affordable country living without sacrificing convenience? Welcome to 224 Glencrest Dr where space, privacy, and value come together. Built in 2017, this 3-bedroom, 2-bath home sits on nearly half an acre, offering the perfect blend of privacy and affordability. Inside, you’ll find a functional layout with an open living area, eat-in kitchen, and split-bedroom floor plan for added comfort and convenience. Step outside to enjoy a covered back deck overlooking a fenced backyard—ideal for pets, entertaining, or simply relaxing in a peaceful setting. With no HOA and plenty of yard space, this property gives you the freedom to truly make it your own. Located just minutes

Key facts

• Covered back deck
• Open living area
• Eat-in kitchen

Tags

• COVERED BACK DECK
• FENCED BACKYARD
• OPEN LIVING AREA
• EAT-IN KITCHEN
• SPLIT-BEDROOM FLOOR PLAN
• NO HOA

Property features AI

Exterior

• Utilities: Public water; Septic sewer
• Home design: Single-family property; Main-level living areas
• Construction: Crawlspace foundation
• Exterior features: Covered back porch; Vinyl exterior finish; Rear chain-link fencing

Interior

• Kitchen: Vinyl-floor kitchen; Dishwasher; Refrigerator; Free-standing range
• Bedrooms: Master bedroom on the main level with carpeted floors; Second bedroom on the main level with carpeted floors; Third bedroom on the main level with carpeted floors
• Flooring: Carpet in bedrooms and living areas; Vinyl in kitchen
• Bathrooms: Two full bathrooms (including two full baths on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Carpeted living areas; Vinyl flooring in the kitchen; Dishwasher; Refrigerator; Free-standing range; Central heating; Central cooling
• Laundry & utility: Washer/dryer location on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $125k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#142 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime F, amenities F, commute F.
• Lexington 04 (rural): math 14% / reading 25% proficiency, ranked #70 of 80 in SC (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sandhills Primary (506 students, 100% FRL); Swansea High (math 10% / reading 72%, grade F, #177 of 196 statewide, top 91%, 683 students, 100% FRL) — zoned schools average 100% FRL vs 69% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 20% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Lexington 04 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 137 active listings in the ZIP; 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 $864 of loan paydown is wiped out by about $4k 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 23 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.7

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-3,720
• Equity at exit: $18,623

10-year hold

• IRR: 6.9%
• Equity multiple: 1.51×
• Total profit: $17,996
• Equity at exit: $10,799

Cash invested: $34,972 (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 29053

• Home prices YoY: -2.9%
• Active inventory: 137
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,353 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$102 /mo · $1,223/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $260

Break-even live

Break-even rent $1,024

Max offer price $124,900

Occupancy floor 76%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-21
   status Pending
2. 2026-04-28
   listed $124,900 Active
3. 2025-08-01
   historical
4. 2025-07-06
   price $125,000
5. 2025-03-31
   status Active
6. 2025-03-09
   status Pending
7. 2025-02-23
   historical Active - Contingent
8. 2025-02-03
   listed $129,999 Active
9. 2025-02-01
   historical
10. 2024-09-26
    price $129,999
11. 2024-08-27
    price $139,999
12. 2024-07-27
    listed $150,000 Active

ⓘ 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: $1,223 · $102/mo
• Projected year-2 tax: $1,223 · $102/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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $16,231
• − Mortgage interest: −$6,996
• − Property taxes: −$1,223
• − Insurance: −$624
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$3,633
• Taxable income: $1,156
• Est. tax owed @ 24.0%: −$278
• After-tax cash flow: $2,837/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This mobile home requires moderate repairs and maintenance, with updates to the exterior and interior paint, landscaping, and siding to significantly increase its resale and rental value.

Repairs flagged

• Minor exterior siding — slight wear
• Minor interior paint — light discoloration
• Minor landscaping — bare yard

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both landscaping — improves curb appeal and adds value
• Both update exterior siding — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · slight wear	Minor	$500–3,000
interior paint · light discoloration	Minor	$500–3,000
landscaping · bare yard	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both landscaping — improves curb appeal and adds value ↑
• Both update exterior siding — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lexington 04
• NCES district ID: 4502790
• Math proficiency: 14% ▼ -2.00%
• Reading proficiency: 25% ▼ -1.00%
• Median HH income: $38,722
• Composite: 16.38/100
• National rank: #9198
• State rank: #70 of 80 in SC

Livability — Gaston

• Score: 65/100
• State rank: #142
• US rank: #13451

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 20,818
• Population (ZIP): 20,818

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 21% Two or more races 11%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 81% English-only · Spanish 18%

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: ▼ -8.19%
• Current HPI: 272.1711
• 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

-16.7% since first listed

12 events — show timeline

• 2026-05-21 Pending — Consolidated MLS
• 2026-04-28 Listed $124,900 Consolidated MLS
• 2025-08-01 Delisted — Consolidated MLS
• 2025-07-06 Price Changed $125,000 Consolidated MLS
• 2025-03-31 Relisted — Consolidated MLS
• 2025-03-09 Pending — Consolidated MLS
• 2025-02-23 Contingent — Consolidated MLS
• 2025-02-03 Listed $129,999 Consolidated MLS
• 2025-02-01 Delisted — Consolidated MLS
• 2024-09-26 Price Changed $129,999 Consolidated MLS
• 2024-08-27 Price Changed $139,999 Consolidated MLS
• 2024-07-27 Listed $150,000 Consolidated MLS

Property tax history

-0.3%/yr

Latest (2024): $1,223 · +2.0% YoY. Source: county tax records.