500 Varsity Ct · Chapin, SC 29036

$304,900

4 bd · 2.5 ba · 2,116 sqft · SingleFamily public records · 15 Days on market

Built 2017 0.29 ac lot $56/mo HOA · 2% 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 +13.5/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +4.1/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautiful home in the sought-after Eagles Nest community, ideally positioned on a corner lot in a peaceful cul-de-sac. Designed with both comfort and style in mind, this residence features an open-concept layout complemented with hardwood floors throughout the main level and an abundance of natural light that fills the home, creating a warm and inviting atmosphere. At the heart of the home, the spacious kitchen features stainless steel appliances, a gas range, a generous breakfast bar, and a walk-in pantry—perfect for everyday living and effortless entertaining. Upstairs, the expansive primary suite complete with a cozy sitting area, a large walk-in closet, and the bat

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 2017

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage with 2 garage spaces (2 total parking spaces); Garage on main level
• Utilities: Public water; Public sewer
• Home design: Two-story single-family home; Main-level entry
• Construction: Stone and vinyl exterior; Slab foundation
• Exterior features: Covered front porch; Covered back porch; Sprinkler system; Rear wood fence

Interior

• Kitchen: Eat-in kitchen with bar and pantry; Granite countertops and painted cabinets; Dishwasher; Microwave above range; Garbage disposal
• Bedrooms: Master suite on second floor with double vanity, garden tub, separate shower and walk-in closet; Second bedroom on second floor with private closet and ceiling fan (shares bath); Third bedroom on second floor with walk-in closet and ceiling fan (shares bath); Fourth bedroom on second floor with private closet and ceiling fan (shares bath)
• Flooring: Hardwood floors in great room and kitchen; Carpet in bedrooms
• Bathrooms: Two full bathrooms; One half bathroom; Master bath includes double vanity, garden tub and separate shower
• Heating & cooling: Central air conditioning; Gas heating on both first and second levels
• Interior features: Attic storage with pull-down access; Ceiling fans throughout; Garage door opener; Smoke detector; Hardwood floors in great room; Crown/base molding; Gas fireplace with natural gas log; Gas range
• Laundry & utility: Laundry located on second floor; Heated laundry space; Tankless water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $10 ($115/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 $242k (20.7% below list).
• Recommended offer: $242k (20.7% below list) — sets the bar for 1% rule.

Location & tenants

• 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: Lake Murray Elementary (math 78% / reading 82%, grade A+, #4 of 597 statewide, top 1%, 809 students, 18% FRL); Chapin Middle (math 50% / reading 57%, grade C+, #29 of 229 statewide, top 13%, 991 students, 27% FRL); Chapin High (math 82% / reading 91%, grade A, #7 of 196 statewide, top 4%, 1,615 students, 100% FRL) — zoned schools average 48% FRL vs 27% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 73% at this address vs 51% district-wide (+22 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: 443 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).

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 15 days — a 2% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $42k; list at $305k implies a 617% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% 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 $241,907 (20.7% 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 10.5

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-48,884
• Equity at exit: $45,462

10-year hold

• IRR: -7.9%
• Equity multiple: 0.51×
• Total profit: $-42,144
• Equity at exit: $26,362

Cash invested: $85,372 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,419 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$119 /mo · $1,434/yr
• Insurance: −$127
• HOA: −$56
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $10

Break-even live

Break-even rent $2,407

Max offer price $304,900

Occupancy floor 95%

Sensitivity live

Price	-10% $182	-5% $96	+0% $10	+5% $-77	+10% $-163
Rent	-10% $-181	-5% $-86	+0% $10	+5% $105	+10% $201
Rate	-1.0pp $163	-0.5pp $87	base $10	+0.5pp $-69	+1.0pp $-150

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: $76,225
• Closing costs: $9,147
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Clark St Chapin, SC	3.0	2.0	1650	$1,750	$1.06	5d	1	0.88mi
206 Columbia Ave Chapin, SC	3.0	2.0	1435	$1,625	$1.13	5d	1	0.90mi
164 Pacific Ave Chapin, SC	3.0	2.5	2364	$2,149	$0.91	13d	1	1.16mi
147 Ventnor Ave Chapin, SC	4.0	3.0	2384	$2,400	$1.01	25d	1	1.48mi
147 Ventnor Ave Chapin, SC	4.0	3.0	2384	$2,400	$1.01	16d	1	1.48mi

HOA detail

• Monthly dues: $56 · $672/yr
• Likely covers: gas

Listing history 5 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   status Active
3. 2026-05-12
   historical Active - Contingent
4. 2026-05-06
   listed $304,900 Active
5. 2017-05-18
   soldstatus $42,500

ⓘ 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: $1,434 · $119/mo
• Projected year-2 tax: $1,738 · $145/mo
• Expected delta: +$304/yr (+$25/mo · 21.2%)

ⓘ 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 56% 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: $29,029
• − Mortgage interest: −$17,079
• − Property taxes: −$1,434
• − Insurance: −$1,524
• − Repairs & maintenance: −$2,322
• − Management: −$2,322
• − HOA: −$672
• − Depreciation: −$8,870
• Taxable loss: −$5,195
• Est. tax savings @ 24.0%: +$1,247
• After-tax cash flow: $1,362/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 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 — Chapin

• Score: 65/100
• State rank: #133
• US rank: #12994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chapin, SC
• 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

Price history

+617.4% since first listed

5 events — show timeline

• 2026-05-21 Pending — Consolidated MLS
• 2026-05-18 Relisted — Consolidated MLS
• 2026-05-12 Contingent — Consolidated MLS
• 2026-05-06 Listed $304,900 Consolidated MLS
• 2017-05-18 Sold (Public Records) $42,500 Public Records

Property tax history

+20.7%/yr

Latest (2024): $1,434 · +0.8% YoY. Source: county tax records.