3257 Driftwood Pt · Summit, SC 29054

$195,000

3 bd · 2.0 ba · 1,792 sqft · SingleFamily public records · 87 Days on market

Built 1999 0.34 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 +17.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.2/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

LAKE MURRAY VIEWS/SOUGHT-AFTER GILBERT/COUNTRY LIVING AT ITS BEST!Don't miss this opportunity to own a beautiful 3 bedroom home in the highly desirable Gilbert area, offering peaceful country living with views of Lake Murray. This home features a formal dining room, spacious living room, and a cozy great room with fireplace. The layout offers comfort, functionality and plenty of natural light throughout. The owner's suite includes a private bath with double sinks and a relaxing garden tub, creating the perfect retreat at the end of the day. Step outside onto the deck and enjoy breathtaking lake views and serene surroundings-ideal for morning coffee or evening relaxation. Disclaimer: CMLS h

Key facts

• Formal dining room
• Lake views
• Private bath

Tags

• LAKE VIEWS
• FORMAL DINING ROOM
• SPACIOUS LIVING ROOM
• COZY GREAT ROOM
• PRIVATE BATH
• GARDEN TUB

Property features AI

Exterior

• Utilities: Public water; Lett sewer system
• Construction: Crawlspace foundation
• Exterior features: Vinyl exterior; Paved road access; 0.34-acre lot

Interior

• Bedrooms: Master bedroom on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central cooling; Heat pump on first level
• Interior features: One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/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 $168k (13.6% below list).
• Recommended offer: $168k (13.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#145 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute 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: Gilbert Elementary (math 33% / reading 26%, grade F, #399 of 597 statewide, top 69%, 768 students, 45% FRL); Gilbert High (math 37% / reading 83%, grade C+, #109 of 196 statewide, top 55%, 1,118 students, 38% FRL).
• Market conditions: 273 active listings in the ZIP; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $55k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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.

Recommended offer $168,392 (13.6% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.86% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 3.13×
• Total profit: $116,168
• Equity at exit: $175,671

10-year hold

• IRR: 23.4%
• Equity multiple: 7.12×
• Total profit: $334,030
• Equity at exit: $378,842

Cash invested: $54,600 (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 29054

• Home prices YoY: 4.7%
• Active inventory: 273
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,684 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$69 /mo · $824/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $158

Break-even live

Break-even rent $1,484

Max offer price $195,000

Occupancy floor 86%

Sensitivity live

Price	-10% $268	-5% $213	+0% $158	+5% $103	+10% $47
Rent	-10% $25	-5% $91	+0% $158	+5% $224	+10% $291
Rate	-1.0pp $256	-0.5pp $207	base $158	+0.5pp $107	+1.0pp $56

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $195,000 Active 87 DOM
2. 2026-06-17
   days on market $195,000 Active 86 DOM
3. 2026-06-16
   days on market $195,000 Active 85 DOM
4. 2026-06-15
   days on market $195,000 Active 84 DOM
5. 2026-06-14
   days on market $195,000 Active 82 DOM
6. 2026-06-10
   days on market $195,000 Active 79 DOM
7. 2026-06-09
   days on market $195,000 Active 78 DOM
8. 2026-06-08
   days on market $195,000 Active 77 DOM
9. 2026-06-07
   days on market $195,000 Active 76 DOM
10. 2026-06-03
    days on market $195,000 Active 72 DOM
11. 2026-06-03
    days on market $195,000 Active 71 DOM
12. 2026-06-02
    days on market $195,000 Active 70 DOM
13. 2026-05-31
    days on market $195,000 Active 69 DOM
14. 2026-05-18
    price $195,000
15. 2026-05-13
    price $210,000
16. 2026-04-06
    price $225,000
17. 2026-03-23
    listed $250,000 Active
18. 2020-06-30
    soldstatus $138,000
19. 2020-04-21
    historical
20. 2020-04-19
    status Active
21. 2020-03-26
    historical
22. 2020-02-17
    listed $142,500 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: $824 · $69/mo
• Projected year-2 tax: $1,112 · $93/mo
• Expected delta: +$287/yr (+$24/mo · 34.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,207
• − Mortgage interest: −$10,923
• − Property taxes: −$824
• − Insurance: −$975
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$5,673
• Taxable loss: −$1,421
• Est. tax savings @ 24.0%: +$341
• After-tax cash flow: $2,234/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 — Summit

• Score: 65/100
• State rank: #145
• US rank: #13523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,137

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% Hispanic / Latino 6% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

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: ▲ 20.87%
• Current HPI: 461.9332
• 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

+36.8% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $195,000 Consolidated MLS
• 2026-05-13 Price Changed $210,000 Consolidated MLS
• 2026-04-06 Price Changed $225,000 Consolidated MLS
• 2026-03-23 Listed $250,000 Consolidated MLS
• 2020-06-30 Sold (Public Records) $138,000 Public Records
• 2020-04-21 Delisted — Consolidated MLS
• 2020-04-19 Relisted — Consolidated MLS
• 2020-03-26 Delisted — Consolidated MLS
• 2020-02-17 Listed $142,500 Consolidated MLS

Property tax history

+15.2%/yr

Latest (2024): $824 · +4.4% YoY. Source: county tax records.