517 Colony Lakes Dr · Red Bank, SC 29073

$290,000

4 bd · 2.5 ba · 1,929 sqft · SingleFamily public records · 10 Days on market

Built 2015 10,018 sqft lot $18/mo HOA · 1% of rent

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Why this score? — see what drove the D 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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 4-bedroom, 2.5-bath home in the desirable Colony Lakes community! Providing a flexible floor plan with a dedicated home office on the main level, this home provides the perfect balance of space, comfort, and functionality. Inside, you’ll find fresh new carpet in bedrooms, spacious living areas, and room for everyone to spread out. The well-designed layout includes four generously sized bedrooms upstairs, while the main-level office is ideal for working from home, studying, or creating a private retreat. Step outside and prepare to be impressed. The newly redesigned backyard is truly an entertainer’s dream, featuring an expansive paver

Key facts

• Custom seating areas
• Home office
• 0.23 acre lot

Tags

• HOME OFFICE
• NEWLY REDESIGNED BACKYARD
• EXPANSIVE PAVER PATIO
• CUSTOM SEATING AREAS
• PROFESSIONAL LANDSCAPING
• DECORATIVE RIVER ROCK BEDS

Property features AI

Finance

• HOA & community: Homeowners association present; Association fee covers common area maintenance

Exterior

• Parking: Attached garage with 2 parking spaces (garage on main level)
• Utilities: Public water; Public sewer
• Home design: Two-story home; Exterior finished in stone and vinyl; Paved road access
• Construction: Slab foundation
• Exterior features: Covered front porch; Covered back porch; Deck; Patio; Shed; Sprinkler system; Landscape lighting; Full gutters; Privacy wood fencing in rear

Interior

• Kitchen: Granite countertops; Stained wood cabinets; Eat-in kitchen with bar and pantry; Tiled backsplash; Recessed lighting; Vinyl flooring in kitchen; Dishwasher; Microwave (above stove); Self-cleaning range with smooth cooktop; Disposal
• Bedrooms: Master suite on second floor with double vanity, garden tub, private bath, separate shower and walk-in closet; Additional bedrooms on second floor with ceiling fans
• Flooring: Carpet in bedrooms; Luxury vinyl plank in living area; Vinyl flooring in kitchen
• Bathrooms: Two full bathrooms; One half bathroom; Second bathrooms include full baths
• Heating & cooling: Heat pump on first level; Heat pump on second level; Cooling via heat pumps
• Interior features: Ceiling fans throughout; Garage opener; Attic access; Tankless hot water
• Laundry & utility: Laundry closet (electric) on second floor; Heated laundry space

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $29 ($349/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 $225k (22.4% below list).
• Recommended offer: $225k (22.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#121 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment C-, crime D+, amenities F.
• Lexington 01 (suburban): math 42% / reading 53% proficiency, ranked #11 of 80 in SC (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Red Bank Elementary (math 36% / reading 45%, grade F, #286 of 597 statewide, top 49%, 568 students, 41% FRL); Carolina Springs Middle (math 25% / reading 39%, grade F, #119 of 229 statewide, top 54%, 914 students, 46% FRL); White Knoll High (math 47% / reading 85%, grade B, #81 of 196 statewide, top 42%, 2,204 students, 45% FRL).
• Market conditions: Rents rising (+3.2%/yr); 572 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($77k/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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $180k; list at $290k implies a 61% 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 $225,096 (22.4% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-44,721
• Equity at exit: $43,240

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-34,812
• Equity at exit: $25,074

Cash invested: $81,200 (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 29073

• Home prices YoY: -19.1%
• Rents YoY: 3.2%
• Active inventory: 572
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$90 /mo · $1,075/yr
• Insurance: −$121
• HOA: −$18
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $29

Break-even live

Break-even rent $2,214

Max offer price $290,000

Occupancy floor 94%

Sensitivity live

Price	-10% $193	-5% $111	+0% $29	+5% $-53	+10% $-135
Rent	-10% $-149	-5% $-60	+0% $29	+5% $118	+10% $207
Rate	-1.0pp $175	-0.5pp $103	base $29	+0.5pp $-46	+1.0pp $-123

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1603 Commendable Ct Lexington, SC	3.0	2.0	1399	$2,033	$1.45	5d	1	0.22mi
1607 Commendable Ct Lexington, SC	4.0	2.5	1783	$2,238	$1.26	25d	1	0.23mi
156 Secretariat St Lexington, SC	4.0	2.5	2591	$2,500	$0.96	16d	1	0.31mi
110 Darian Dr Lexington, SC	3.0	2.0	1364	$1,949	$1.43	16d	1	0.49mi
449 Lady Liberty Way Lexington, SC	3.0	3.0	1635	$1,995	$1.22	25d	1	0.50mi
464 Lady Liberty Way Lexington, SC	4.0	2.5	2100	$2,150	$1.02	25d	1	0.51mi
212 Pin Oak Dr Lexington, SC	3.0	2.0	1349	$1,710	$1.27	16d	1	0.73mi
120 W Lake Dr Lexington, SC	3.0	2.0	1476	$1,880	$1.27	5d	1	0.75mi
919 Dovefield Ln Lexington, SC	4.0	2.5	2022	$2,299	$1.14	25d	1	0.80mi
140 Land of Lakes Cir Lexington, SC	3.0	2.0	1452	$1,925	$1.33	5d	1	0.81mi
847 Dovefield Ln Lexington, SC	3.0	2.0	1302	$1,850	$1.42	16d	1	0.84mi
128 S Wrenwood Dr Lexington, SC	3.0	2.0	1250	$1,695	$1.36	25d	1	1.28mi

HOA detail

• Monthly dues: $18 · $216/yr

Listing history 7 events

1. 2026-06-22
   days on market $290,000 Active 10 DOM
2. 2026-06-18
   days on market $290,000 Active 7 DOM
3. 2026-06-17
   days on market $290,000 Active 6 DOM
4. 2026-06-16
   days on market $290,000 Active 5 DOM
5. 2026-06-15
   days on market $290,000 Active 4 DOM
6. 2026-06-14
   remarks 687-char remark
7. 2026-06-14
   listed $290,000 Active 2 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: $1,075 · $90/mo
• Projected year-2 tax: $1,653 · $138/mo
• Expected delta: +$578/yr (+$48/mo · 53.8%)

ⓘ 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 ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,012
• − Mortgage interest: −$16,245
• − Property taxes: −$1,075
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − HOA: −$216
• − Depreciation: −$8,436
• Taxable loss: −$4,732
• Est. tax savings @ 24.0%: +$1,136
• After-tax cash flow: $1,484/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 01
• NCES district ID: 4502700
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $61,298
• Composite: 41.75/100
• National rank: #3399
• State rank: #11 of 80 in SC

Livability — Red Bank

• Score: 66/100
• State rank: #121
• US rank: #11985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Bank, SC
• County: Lexington County · 232,571 people
• Metro: Columbia, SC
• Population (ZIP): 53,156
• Household income: $77,229
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 935.0

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 (72%)
• Race & ethnicity: White 72% Black 14% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -59.20%
• Current HPI: 249.8957
• Rent YoY: ▲ 3.24%
• 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

Price history

+53.0% since first listed

4 events — show timeline

• 2026-06-11 Listed $290,000 Consolidated MLS
• 2019-07-26 Sold (Public Records) $180,000 Public Records
• 2019-06-23 Delisted — Consolidated MLS
• 2019-06-18 Listed $189,500 Consolidated MLS

Property tax history

+31.4%/yr

Latest (2024): $1,075 · +4.4% YoY. Source: county tax records.