406 Horse Creek Rd · Summit, SC 29070

$195,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 38 Days on market

Built 1979 1.98 ac lot

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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 +21.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investor Special Near Lake Murray - 1.98 Acres with Lake Views! Opportunity is knocking just steps from Lake Murray. Situated on 1.98 acres with peaceful lake views, this property offers incredible potential for investors, builders, or buyers ready to bring their vision to life. With a marina only 2 minutes away, the location alone makes this a standout investment for a future primary residence, vacation getaway, or rental. The existing home features some updates already in place, including quartz countertops, newer cabinetry, new windows, and an HVAC system replaced in 2019. The layout is open and filled with natural light, but the home still requires finishing touches--most notably the unfinished master bathroom--making it ideal for those comfortable with renovation projects. For those looking at the bigger picture, the nearly 2-acre lot provides ample space and flexibility. Whether you choose to complete the current structure, renovate extensively, or remove the mobile home and build your dream home from the ground up, the possibilities are wide open. Serviced by a community well (billed bi-monthly). Property is being sold as-is with cash offers only. If you're searching for land, location, and upside potential near Lake Murray, this is a rare chance to create something truly special.

Key facts

• 1.98 acres
• Quartz countertops
• Marina nearby

Tags

• LAKE VIEWS
• 1.98 ACRES
• MARINA NEARBY
• QUARTZ COUNTERTOPS
• NEWER CABINETRY
• NEW WINDOWS

Property features AI

Finance

• Financial info: Land is leased

Exterior

• Parking: Gravel/unpaved parking
• Utilities: Shared well water; Septic tank; Utilities: see remarks
• Home design: Manufactured home (residential); Single-story / one level; Entry level: 1; Has a view
• Construction: Wood siding; Composition roof; Other foundation
• Exterior features: Deck; Porch with screened area; Front porch; Fenced yard; Lakefront frontage; Wooded lot; Paved road access; Outbuilding

Interior

• Kitchen: Electric water heater
• Bedrooms: Total rooms: 5
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced air heating
• Interior features: Kitchen island; Pantry; Eat-in kitchen; Window coverings
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $196k.

Deal economics

• At list price, monthly cash flow is $290 ($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 $182k (7.1% below list).
• Recommended offer: $182k (7.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#145 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Lexington 03 (rural): math 26% / reading 33% proficiency, ranked #56 of 80 in SC (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Batesburg-Leesville Elementary School (math 35% / reading 26%, grade F, #389 of 597 statewide, top 66%, 431 students, 100% FRL); Batesburg-Leesville Middle School (math 14% / reading 29%, grade F, #176 of 229 statewide, top 77%, 456 students, 100% FRL); Batesburg-Leesville High School (math 22% / reading 72%, grade D-, #158 of 196 statewide, top 82%, 547 students, 100% FRL) — zoned schools average 100% FRL vs 61% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 167 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 $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $196k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% 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 $181,910 (7.1% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 9.0

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: 28.9%
• Equity multiple: 3.28×
• Total profit: $125,044
• Equity at exit: $176,482

10-year hold

• IRR: 25.1%
• Equity multiple: 7.45×
• Total profit: $353,527
• Equity at exit: $380,591

Cash invested: $54,852 (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 29070

• Home prices YoY: 3.2%
• Active inventory: 167
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,819 medium
• Mortgage (P&I): −$1,027
• Tax from tax record: −$38 /mo · $461/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $290

Break-even live

Break-even rent $1,452

Max offer price $195,900

Occupancy floor 79%

Sensitivity live

Price	-10% $401	-5% $345	+0% $290	+5% $234	+10% $179
Rent	-10% $146	-5% $218	+0% $290	+5% $362	+10% $433
Rate	-1.0pp $388	-0.5pp $340	base $290	+0.5pp $239	+1.0pp $187

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: $48,975
• Closing costs: $5,877
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $195,900 Active 38 DOM
2. 2026-06-17
   days on market $195,900 Active 37 DOM
3. 2026-06-16
   days on market $195,900 Active 36 DOM
4. 2026-06-15
   days on market $195,900 Active 35 DOM
5. 2026-06-14
   days on market $195,900 Active 33 DOM
6. 2026-06-10
   days on market $195,900 Active 30 DOM
7. 2026-06-09
   days on market $195,900 Active 29 DOM
8. 2026-06-08
   days on market $195,900 Active 28 DOM
9. 2026-06-07
   days on market $195,900 Active 27 DOM
10. 2026-06-03
    days on market $195,900 Active 23 DOM
11. 2026-06-03
    days on market $195,900 Active 22 DOM
12. 2026-06-01
    days on market $195,900 Active 21 DOM
13. 2026-05-31
    days on market $195,900 Active 20 DOM
14. 2026-05-20
    price $195,900

    Show marketing remark (1311 chars)

    Investor Special Near Lake Murray - 1.98 Acres with Lake Views! Opportunity is knocking just steps from Lake Murray. Situated on 1.98 acres with peaceful lake views, this property offers incredible potential for investors, builders, or buyers ready to bring their vision to life. With a marina only 2 minutes away, the location alone makes this a standout investment for a future primary residence, vacation getaway, or rental. The existing home features some updates already in place, including quartz countertops, newer cabinetry, new windows, and an HVAC system replaced in 2019. The layout is open and filled with natural light, but the home still requires finishing touches--most notably the unfinished master bathroom--making it ideal for those comfortable with renovation projects. For those looking at the bigger picture, the nearly 2-acre lot provides ample space and flexibility. Whether you choose to complete the current structure, renovate extensively, or remove the mobile home and build your dream home from the ground up, the possibilities are wide open. Serviced by a community well (billed bi-monthly). Property is being sold as-is with cash offers only. If you're searching for land, location, and upside potential near Lake Murray, this is a rare chance to create something truly special.

15. 2026-05-20
    price $195,900 1311-char remark

    Show marketing remark (1311 chars)

    Investor Special Near Lake Murray - 1.98 Acres with Lake Views! Opportunity is knocking just steps from Lake Murray. Situated on 1.98 acres with peaceful lake views, this property offers incredible potential for investors, builders, or buyers ready to bring their vision to life. With a marina only 2 minutes away, the location alone makes this a standout investment for a future primary residence, vacation getaway, or rental. The existing home features some updates already in place, including quartz countertops, newer cabinetry, new windows, and an HVAC system replaced in 2019. The layout is open and filled with natural light, but the home still requires finishing touches--most notably the unfinished master bathroom--making it ideal for those comfortable with renovation projects. For those looking at the bigger picture, the nearly 2-acre lot provides ample space and flexibility. Whether you choose to complete the current structure, renovate extensively, or remove the mobile home and build your dream home from the ground up, the possibilities are wide open. Serviced by a community well (billed bi-monthly). Property is being sold as-is with cash offers only. If you're searching for land, location, and upside potential near Lake Murray, this is a rare chance to create something truly special.

16. 2026-05-11
    historical
17. 2026-04-23
    listed $210,000 Active

    Show marketing remark (1311 chars)

    Investor Special Near Lake Murray - 1.98 Acres with Lake Views! Opportunity is knocking just steps from Lake Murray. Situated on 1.98 acres with peaceful lake views, this property offers incredible potential for investors, builders, or buyers ready to bring their vision to life. With a marina only 2 minutes away, the location alone makes this a standout investment for a future primary residence, vacation getaway, or rental. The existing home features some updates already in place, including quartz countertops, newer cabinetry, new windows, and an HVAC system replaced in 2019. The layout is open and filled with natural light, but the home still requires finishing touches--most notably the unfinished master bathroom--making it ideal for those comfortable with renovation projects. For those looking at the bigger picture, the nearly 2-acre lot provides ample space and flexibility. Whether you choose to complete the current structure, renovate extensively, or remove the mobile home and build your dream home from the ground up, the possibilities are wide open. Serviced by a community well (billed bi-monthly). Property is being sold as-is with cash offers only. If you're searching for land, location, and upside potential near Lake Murray, this is a rare chance to create something truly special.

18. 2026-04-23
    listed $210,000 Active 1311-char remark

    Show marketing remark (1311 chars)

    Investor Special Near Lake Murray - 1.98 Acres with Lake Views! Opportunity is knocking just steps from Lake Murray. Situated on 1.98 acres with peaceful lake views, this property offers incredible potential for investors, builders, or buyers ready to bring their vision to life. With a marina only 2 minutes away, the location alone makes this a standout investment for a future primary residence, vacation getaway, or rental. The existing home features some updates already in place, including quartz countertops, newer cabinetry, new windows, and an HVAC system replaced in 2019. The layout is open and filled with natural light, but the home still requires finishing touches--most notably the unfinished master bathroom--making it ideal for those comfortable with renovation projects. For those looking at the bigger picture, the nearly 2-acre lot provides ample space and flexibility. Whether you choose to complete the current structure, renovate extensively, or remove the mobile home and build your dream home from the ground up, the possibilities are wide open. Serviced by a community well (billed bi-monthly). Property is being sold as-is with cash offers only. If you're searching for land, location, and upside potential near Lake Murray, this is a rare chance to create something truly special.

19. 2026-04-23
    listed $210,000 Active

    Show marketing remark (1311 chars)

    Investor Special Near Lake Murray - 1.98 Acres with Lake Views! Opportunity is knocking just steps from Lake Murray. Situated on 1.98 acres with peaceful lake views, this property offers incredible potential for investors, builders, or buyers ready to bring their vision to life. With a marina only 2 minutes away, the location alone makes this a standout investment for a future primary residence, vacation getaway, or rental. The existing home features some updates already in place, including quartz countertops, newer cabinetry, new windows, and an HVAC system replaced in 2019. The layout is open and filled with natural light, but the home still requires finishing touches--most notably the unfinished master bathroom--making it ideal for those comfortable with renovation projects. For those looking at the bigger picture, the nearly 2-acre lot provides ample space and flexibility. Whether you choose to complete the current structure, renovate extensively, or remove the mobile home and build your dream home from the ground up, the possibilities are wide open. Serviced by a community well (billed bi-monthly). Property is being sold as-is with cash offers only. If you're searching for land, location, and upside potential near Lake Murray, this is a rare chance to create something truly special.

20. 2015-03-03
    soldstatus $75,000
21. 1988-12-01
    soldstatus $49,500
22. 1986-05-01
    soldstatus $39,900

ⓘ 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: $461 · $38/mo
• Projected year-2 tax: $1,117 · $93/mo
• Expected delta: +$655/yr (+$55/mo · 142.1%)

ⓘ 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 63% 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: $21,829
• − Mortgage interest: −$10,973
• − Property taxes: −$461
• − Insurance: −$980
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$5,699
• Taxable income: $223
• Est. tax owed @ 24.0%: −$54
• After-tax cash flow: $3,423/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 03
• NCES district ID: 4502760
• Math proficiency: 26% ▼ -18.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $40,709
• Composite: 24.88/100
• National rank: #7586
• State rank: #56 of 80 in SC

Livability — Summit

• Score: 65/100
• State rank: #145
• US rank: #13523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,528

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 (76%)
• Race & ethnicity: White 76% Black 12% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% 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: ▲ 13.72%
• Current HPI: 439.77
• 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

+391.0% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $195,900 Hive MLS
• 2026-05-20 Price Changed $195,900 AMLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-04-23 Listed $210,000 Hive MLS
• 2026-04-23 Listed $210,000 AMLS
• 2026-04-23 Listed $210,000 Hive MLS
• 2015-03-03 Sold (Public Records) $75,000 Public Records
• 1988-12-01 Sold (Public Records) $49,500 Public Records
• 1986-05-01 Sold (Public Records) $39,900 Public Records

Property tax history

-2.8%/yr

Latest (2024): $461 · +2.2% YoY. Source: county tax records.