405 Isom St · Lancaster, SC 29720

$119,900

3 bd · 1.0 ba · 932 sqft · SingleFamily public records · 26 Days on market

Built 1971 1,089 sqft lot Est $103k · 17% over

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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 +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +6.6/10.0
• Schools +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity in the heart of Lancaster! This single-story brick home is conveniently located near downtown Lancaster, shopping, restaurants, schools, and major roadways. Home sits on a manageable lot with established surrounding homes and convenient city access.

Key facts

• Conveniently located
• 1,089 sq ft lot
• Garage

Tags

• CONVENIENTLY LOCATED
• NEAR DOWNTOWN LANCASTER
• CONVENIENT CITY ACCESS

Property features AI

Finance

• Other: Property type: Residential single-family; Lot size: 50 acres
• HOA & community: No HOA

Exterior

• Parking: Attached carport; Attached garage (1 garage space); Main level garage
• Utilities: City water; Public sewer
• Home design: Single-family residence; Residential zoning; Site-built construction; Brick exterior; One story; Permanent foundation
• Construction: Brick full construction; Permanent foundation
• Exterior features: Concrete road access; Publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Baseboard heating; Forced air heating; Central air conditioning
• Interior features: One-level home; Room count: 1 (listed)
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.5% in Lancaster — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 55/100 on livability (#301 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, crime F, amenities F.
• Lancaster 01 (rural): math 41% / reading 47% proficiency, ranked #26 of 80 in SC (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 685 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 976 units permitted in Lancaster County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lancaster County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 36% 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 $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
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: 1.16% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $102,520
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Isom St	0.03mi	3/2.0	912 (-2%)	22mo	$170,000	$186	73
609 N Market St	0.10mi	3/1.0	1,025 (+10%)	15mo	$112,900	$110	66
412 N French St	0.55mi	2/1.0 (-1)	994 (+7%)	7mo	$65,000	$65	52
105 Witherspoon St	0.43mi	3/2.0	1,025 (+10%)	19mo	$181,000	$177	43
304 N Market St	0.31mi	2/1.0 (-1)	800 (-14%)	18mo	$45,000	$56	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-808
• Equity at exit: $17,877

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $23,288
• Equity at exit: $10,367

Cash invested: $33,572 (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 29720

• Home prices YoY: -28.2%
• Active inventory: 685
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,386 high
• Mortgage (P&I): −$629
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $292

Break-even live

Break-even rent $1,016

Max offer price $119,900

Occupancy floor 74%

Sensitivity live

Price	-10% $360	-5% $326	+0% $292	+5% $258	+10% $224
Rent	-10% $183	-5% $238	+0% $292	+5% $347	+10% $402
Rate	-1.0pp $353	-0.5pp $323	base $292	+0.5pp $261	+1.0pp $230

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 S Catawba St Lancaster, SC	2.0	1.0	950	$1,350	$1.42	2d	1	0.68mi
3038 Miller St Unit 3016-A Lancaster, SC	2.0	2.0	915	$1,363	$1.49	18d	1	1.13mi
730 Taylor St Lancaster, SC	2.0	1.0	868	$985	$1.13	3d	1	1.22mi
732 Taylor St Lancaster, SC	2.0	1.0	868	$985	$1.13	3d	1	1.23mi
1305 Eula St Lancaster, SC	2.0	1.0	900	$945	$1.05	24d	1	1.32mi

Listing history 15 events

1. 2026-06-21
   days on market $119,900 Active 26 DOM
2. 2026-06-18
   days on market $119,900 Active 23 DOM
3. 2026-06-17
   days on market $119,900 Active 22 DOM
4. 2026-06-16
   days on market $119,900 Active 21 DOM
5. 2026-06-15
   days on market $119,900 Active 20 DOM
6. 2026-06-13
   days on market $119,900 Active 18 DOM
7. 2026-06-09
   days on market $119,900 Active 14 DOM
8. 2026-06-08
   days on market $119,900 Active 13 DOM
9. 2026-06-07
   days on market $119,900 Active 12 DOM
10. 2026-06-04
    days on market $119,900 Active 9 DOM
11. 2026-06-03
    days on market $119,900 Active 8 DOM
12. 2026-06-02
    days on market $119,900 Active 7 DOM
13. 2026-06-01
    days on market $119,900 Active 6 DOM
14. 2026-05-31
    days on market $119,900 Active 5 DOM
15. 2026-05-22
    listed $119,900 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: $1,484 · $124/mo
• Projected year-2 tax: $1,484 · $124/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 36% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,629
• − Mortgage interest: −$6,716
• − Property taxes: −$1,484
• − Insurance: −$600
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$3,488
• Taxable income: $1,680
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $3,104/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: Lancaster 01
• NCES district ID: 4502580
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $44,165
• Composite: 37.23/100
• National rank: #4462
• State rank: #26 of 80 in SC

Livability — Lancaster

• Score: 55/100
• State rank: #301
• US rank: #23178

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, SC
• County: Lancaster County · 91,213 people
• City population: 53,584
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 53,584
• Household income: $62,969
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 1158.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 105,572 people
• By 2030: 114,865 · +8.8%
• By 2040: 132,268 · +25.3%
• By 2050: 148,252 · +40.4%
• By 2075: 182,540 · +72.9%
• By 2100: 202,237 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 26% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Lancaster

• 2024 margin: Strong R (+24.8) · D 37.0% · R 61.8% · Other 1.2%
• 2008→2024 swing: -9.9pp toward R · 2008: -14.9pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+22.8 2016: R+25.5 2012: R+18.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.90%
• Current HPI: 244.328
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-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

1 event — show timeline

• 2026-05-22 Listed $119,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $1,484 · +12.7% YoY. Source: county tax records.