109 Owl Trace Ln · Lake Murray of Richland, SC 29036-8694

$198,000

3 bd · 2.0 ba · 1,163 sqft · SingleFamily public records · 9 Days on market

Built 2005 8,712 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 3BR/2BA patio home in a quiet Chapin cul-de-sac! Features include an eat-in kitchen, a spacious great room, a private primary suite with walk-in closet, and two additional bedrooms with shared bath. Enjoy a fully fenced backyard, outdoor storage, and a fantastic location off Sid Bickley, close to shopping, interstates, and top-rated Chapin schools. No HOA and under $200,000! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Outdoor storage
• Spacious great room
• Walk-in closet

Tags

• EAT-IN KITCHEN
• SPACIOUS GREAT ROOM
• PRIVATE PRIMARY SUITE
• WALK-IN CLOSET
• FULLY FENCED BACKYARD
• OUTDOOR STORAGE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home; Built on a slab foundation
• Construction: Slab foundation
• Exterior features: Patio; Partial gutters; Vinyl exterior finish; Rear wood fencing

Interior

• Kitchen: Wood-natural cabinets; Eat-in kitchen; Solid surface countertops; Vinyl flooring; Dishwasher; Free-standing range; Refrigerator; Freezer
• Bedrooms: Master bedroom on the main level with private bath, walk-in closet, tub/shower and ceiling fan; Two additional main-level bedrooms each with ceiling fan, private closet and luxury vinyl plank flooring
• Flooring: Carpet in great room; Luxury vinyl plank in bedrooms; Vinyl in kitchen
• Bathrooms: Two full bathrooms (including the master bath)
• Heating & cooling: Central heating; Central cooling
• Interior features: Attic with pull-down access; Great room with ceiling fan and carpeted floors
• Laundry & utility: Main-level laundry in a heated closet; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $198k).

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: 1 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

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 $140k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 49% 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 $198,000

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 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?
3. 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.
4. 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.
5. 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: 1.62% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.07%
• DSCR: 1.98
• GRM: 5.2

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: 28.3%
• Equity multiple: 2.60×
• Total profit: $88,914
• Equity at exit: $89,029

10-year hold

• IRR: 28.9%
• Equity multiple: 5.07×
• Total profit: $225,746
• Equity at exit: $137,205

Cash invested: $55,440 (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 29036-8694

• Active inventory: 1
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,200 medium
• Mortgage (P&I): −$1,038
• Tax from tax record: −$388 /mo · $4,653/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $1,019

Break-even live

Break-even rent $1,910

Max offer price $198,000

Occupancy floor 63%

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 Whispering Oak Ln Chapin, SC	3.0	2.0	1375	$3,200	$2.33	11d	1	1.44mi

Listing history 8 events

1. 2026-06-18
   days on market $198,000 Active 9 DOM
2. 2026-06-17
   days on market $198,000 Active 8 DOM
3. 2026-06-16
   days on market $198,000 Active 7 DOM
4. 2026-06-15
   days on market $198,000 Active 6 DOM
5. 2026-06-14
   days on market $198,000 Active 4 DOM
6. 2026-06-13
   days on market $198,000 Active 3 DOM
7. 2026-06-10
   remarks 490-char remark
8. 2026-06-10
   listed $198,000 Active 1 DOM

ⓘ 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: $4,653 · $388/mo
• Projected year-2 tax: $4,653 · $388/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,400
• − Mortgage interest: −$11,091
• − Property taxes: −$4,653
• − Insurance: −$990
• − Repairs & maintenance: −$3,072
• − Management: −$3,072
• − Depreciation: −$5,760
• Taxable income: $9,762
• Est. tax owed @ 24.0%: −$2,343
• After-tax cash flow: $9,890/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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+209.4% since first listed

17 events — show timeline

• 2026-06-09 Listed $198,000 Consolidated MLS
• 2025-04-07 Rental Removed $1,450 APPFOLIO
• 2025-03-14 Price Changed $1,450 APPFOLIO
• 2025-01-14 Price Changed $1,550 APPFOLIO
• 2024-12-05 Listed for Rent $1,650 APPFOLIO
• 2023-12-02 Pending — Consolidated MLS
• 2023-11-17 Contingent — Consolidated MLS
• 2023-11-14 Price Changed $179,000 Consolidated MLS
• 2023-10-27 Price Changed $194,000 Consolidated MLS
• 2023-10-13 Listed $199,900 Consolidated MLS
• 2021-09-01 Sold (Public Records) $140,000 Public Records
• 2021-08-01 Delisted — Consolidated MLS
• 2021-07-30 Listed $147,000 Consolidated MLS
• 2010-06-22 Sold (Public Records) $110,000 Public Records
• 2007-12-28 Sold (Public Records) $113,000 Public Records
• 2006-07-07 Sold (Public Records) $80,000 Public Records
• 2004-07-13 Sold (Public Records) $64,000 Public Records

Property tax history

+10.6%/yr

Latest (2024): $4,653 · +28.1% YoY. Source: county tax records.