132 Heather Ridge Dr · Gaston, SC 29053

$150,000

4 bd · 2.0 ba · 2,016 sqft · Manufactured public records · 22 Days on market

Built 1998 0.59 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.9/10.0

Listing remarks

Located in the growing Gaston area, 132 Heather Ridge Dr presents a great opportunity for investors, flippers, or buyers looking to put in some sweat equity and make a property their own. This de-titled manufactured home offers 4 bedrooms, 2 full baths, and over 2,000 square feet of living space on a fully fenced 0.59-acre lot. The home is in need of repairs and updates but offers strong potential for the right buyer with vision. Inside, you'll find spacious living areas, a split floor plan, a sunroom perfect for relaxing or entertaining, and a back deck overlooking the backyard. Whether you're looking for your next flip, rental property, or a home to renovate over time, this property offer

Key facts

• Country living
• Split floor plan
• Sunroom

Tags

• FULLY FENCED LOT
• SPLIT FLOOR PLAN
• SUNROOM
• BACK DECK
• COUNTRY LIVING
• NO HOA

Property features AI

Exterior

• Utilities: Public water; Septic sewer
• Home design: Single-story home
• Construction: Vinyl exterior; Crawlspace foundation
• Exterior features: Wood deck; Wood fencing; Paved road access

Interior

• Kitchen: Eat-in kitchen with Formica countertops; Painted cabinets; Laminate flooring in kitchen; Smooth-surface range; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level with garden tub, private bath, separate shower, ceiling fan and private closet; Bedroom 2 on main level with shared bath, walk-in closet, ceiling fan and private closet; Bedroom 3 on main level with shared bath, walk-in closet, ceiling fan and private closet; Bedroom 4 on main level with shared bath, ceiling fan and private closet
• Flooring: Laminate flooring throughout main living areas and bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Fireplace in living room; Vaulted ceilings in living room; Ceiling fans throughout main rooms; Laminate flooring throughout main areas; Florida room; Office; Mud room/laundry area
• Laundry & utility: Main-level mud room for laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (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 02 (suburban): math 30% / reading 38% proficiency, ranked #45 of 80 in SC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Herbert A. Wood Elementary (math 26% / reading 28%, grade F, #421 of 597 statewide, top 73%, 967 students, 100% FRL); Pine Ridge Middle (math 14% / reading 23%, grade F, #186 of 229 statewide, top 82%, 403 students, 100% FRL); Airport High (math 40% / reading 79%, grade C+, #110 of 196 statewide, top 58%, 1,428 students, 84% FRL) — zoned schools average 95% FRL vs 59% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 140 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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.
• Current owner paid $95k; list at $150k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $147,750 (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: 1.20% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.59%
• DSCR: 1.52
• GRM: 6.9

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,547
• Equity at exit: $22,365

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $34,679
• Equity at exit: $12,969

Cash invested: $42,000 (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: 140
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$167 /mo · $2,006/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $406

Break-even live

Break-even rent $1,286

Max offer price $150,000

Occupancy floor 72%

Sensitivity live

Price	-10% $491	-5% $448	+0% $406	+5% $363	+10% $321
Rent	-10% $263	-5% $335	+0% $406	+5% $477	+10% $548
Rate	-1.0pp $481	-0.5pp $444	base $406	+0.5pp $367	+1.0pp $327

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
331 Woodcote Dr Gaston, SC	3.0	2.0	1455	$1,800	$1.24	4d	1	0.71mi

Listing history 24 events

1. 2026-06-13
   statusdays on market $150,000 Pending 22 DOM
2. 2026-06-10
   days on market $150,000 Active - Contingent 20 DOM
3. 2026-06-09
   days on market $150,000 Active - Contingent 19 DOM
4. 2026-06-08
   days on market $150,000 Active - Contingent 18 DOM
5. 2026-06-07
   days on market $150,000 Active - Contingent 17 DOM
6. 2026-06-05
   days on market $150,000 Active - Contingent 14 DOM
7. 2026-06-03
   days on market $150,000 Active - Contingent 13 DOM
8. 2026-06-03
   days on market $150,000 Active - Contingent 12 DOM
9. 2026-06-02
   days on market $150,000 Active - Contingent 11 DOM
10. 2026-05-31
    days on market $150,000 Active - Contingent 10 DOM
11. 2026-05-21
    listed $150,000 Active
12. 2025-12-04
    status Active
13. 2025-10-19
    status Pending
14. 2025-10-04
    historical Active - Contingent
15. 2025-10-01
    price $170,000
16. 2025-09-23
    price $189,000
17. 2025-09-09
    price $195,000
18. 2025-08-30
    listed $200,000 Active
19. 2019-05-20
    soldstatus $95,000
20. 2019-03-09
    historical
21. 2019-01-25
    price $95,000
22. 2018-11-08
    price $100,000
23. 2018-10-15
    price $110,000
24. 2018-09-25
    listed $115,000 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: $2,006 · $167/mo
• Projected year-2 tax: $2,006 · $167/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 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $21,600
• − Mortgage interest: −$8,402
• − Property taxes: −$2,006
• − Insurance: −$750
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,364
• Taxable income: $2,622
• Est. tax owed @ 24.0%: −$629
• After-tax cash flow: $4,239/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 02
• NCES district ID: 4502730
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $42,532
• Composite: 28.78/100
• National rank: #6669
• State rank: #45 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

+30.4% since first listed

14 events — show timeline

• 2026-05-21 Listed $150,000 Consolidated MLS
• 2025-12-04 Relisted — Consolidated MLS
• 2025-10-19 Pending — Consolidated MLS
• 2025-10-04 Contingent — Consolidated MLS
• 2025-10-01 Price Changed $170,000 Consolidated MLS
• 2025-09-23 Price Changed $189,000 Consolidated MLS
• 2025-09-09 Price Changed $195,000 Consolidated MLS
• 2025-08-30 Listed $200,000 Consolidated MLS
• 2019-05-20 Sold (Public Records) $95,000 Public Records
• 2019-03-09 Delisted — Consolidated MLS
• 2019-01-25 Price Changed $95,000 Consolidated MLS
• 2018-11-08 Price Changed $100,000 Consolidated MLS
• 2018-10-15 Price Changed $110,000 Consolidated MLS
• 2018-09-25 Listed $115,000 Consolidated MLS

Property tax history

+7.1%/yr

Latest (2024): $2,006 · +7.5% YoY. Source: county tax records.