209 Eagle Pointe Dr

Chapin, SC 29036

$275,000C

4 bd · 2.5 ba · 1,936 sqft · Built 2008 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,915/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$193
• HOA: −$31
• Vac / Maint / Mgmt: −$612
• Net cashflow: $637/mo
• Annual: $7,642/yr
• Cap rate: 9.07%
• Cash-on-cash: 9.92%
• DSCR: 1.44
• 1% rule: 1.06%
• Cash to close: $77,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $275k.
• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• It's been on market 17 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#133 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities 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: Chapin Elementary (math 53% / reading 51%, grade C-, #145 of 597 statewide, top 26%, 790 students, 34% FRL); Chapin High (math 82% / reading 91%, grade A, #7 of 196 statewide, top 4%, 1,615 students, 100% FRL) — zoned schools average 67% FRL vs 27% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 69% at this address vs 51% district-wide (+18 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: 434 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $148k; list at $275k implies a 85% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 57% 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.
• This rent runs 31% of the median local income ($114k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.