The Bancroft Plan · Lake Murray of Richland, SC 29036

$289,900

3 bd · 2.0 ba · 1,554 sqft · SingleFamily · 59 Days on market

Good condition

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into The Bancroft, where easy main level living awaits to simplify your lifestyle. Discover the spacious primary suite, boasting an ensuite bathroom and a walk-in closet conveniently located just off the family room, ensuring comfort and convenience at every turn. As you enter through the foyer, you'll be greeted by two generously sized bedrooms that share a full bathroom, providing ample space for relaxation and rejuvenation. Transitioning further into the home, the open concept design seamlessly integrates the kitchen, dining space, and family room, creating a welcoming environment ideal for entertaining and making cherished memories with loved ones. Embrace the functionality and sty

Key facts

• 2 garage spots
• Listed 59 days

Property features AI

Finance

• Other: Listing status: Active; Listing modified May 21, 2026
• Financial info: List price $294,900

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: New construction plan; Address: Chapin, SC
• Exterior features: Living area of 1,554

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home: The Bancroft

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $280 ($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 $289k (0.3% below list).
• Recommended offer: $281k (3.0% below list) — sets the bar for market timing.

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: schools D, amenities F, commute 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.
• Market conditions: 443 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($114k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 59 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Recommended offer $281,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.00% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.14%
• DSCR: 1.18
• GRM: 8.4

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-29,080
• Equity at exit: $43,225

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-2,158
• Equity at exit: $25,065

Cash invested: $81,172 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,891 medium
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $280

Break-even live

Break-even rent $2,536

Max offer price $289,900

Occupancy floor 85%

Sensitivity live

Price	-10% $481	-5% $380	+0% $280	+5% $180	+10% $80
Rent	-10% $52	-5% $166	+0% $280	+5% $394	+10% $509
Rate	-1.0pp $426	-0.5pp $354	base $280	+0.5pp $205	+1.0pp $129

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	12d	1	1.25mi
222 Indian Creek Cir Chapin, SC	3.0	2.0	1500	$2,750	$1.83	24d	1	1.31mi

Listing history 17 events

1. 2026-06-21
   days on market $289,900 Active 59 DOM
2. 2026-06-18
   days on market $289,900 Active 56 DOM
3. 2026-06-17
   price $289,900 Active 55 DOM
4. 2026-06-17
   pricedays on market $294,900 Active 55 DOM
5. 2026-06-16
   days on market $289,900 Active 54 DOM
6. 2026-06-15
   days on market $289,900 Active 53 DOM
7. 2026-06-14
   days on market $289,900 Active 51 DOM
8. 2026-06-13
   days on market $289,900 Active 50 DOM
9. 2026-06-10
   days on market $289,900 Active 48 DOM
10. 2026-06-09
    days on market $289,900 Active 47 DOM
11. 2026-06-08
    days on market $289,900 Active 46 DOM
12. 2026-06-07
    days on market $289,900 Active 45 DOM
13. 2026-06-03
    days on market $289,900 Active 41 DOM
14. 2026-06-03
    days on market $289,900 Active 40 DOM
15. 2026-06-02
    price $289,900 Active 39 DOM
16. 2026-06-01
    pricedays on market $294,900 Active 39 DOM
17. 2026-05-31
    days on market $289,900 Active 38 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,690
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,775
• − Management: −$2,775
• − Depreciation: −$8,433
• Taxable loss: −$1,331
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $3,683/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 · 11 photos

Good 80/100 None rehab

The home is in excellent condition with modern finishes and a well-maintained exterior. Minor updates to the exterior and interior could further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Resale Replace kitchen appliances — Modern appliances improve functionality and appeal
• Resale Replace bathroom fixtures — Modern fixtures enhance aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale Replace kitchen appliances — Modern appliances improve functionality and appeal ↑
• Resale Replace bathroom fixtures — Modern fixtures enhance aesthetics and functionality ↑

ⓘ 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 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 (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 (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 · 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: ▼ -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