68 Cherry Grove Dr · Oak Grove, SC 29170

$244,900

3 bd · 2.5 ba · 1,690 sqft · SingleFamily public records · 150 Days on market

Built 2003 6,534 sqft lot Est $242k · at est.

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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 +12.0/30.0
• ARV discount +6.9/15.0
• Schools +4.2/10.0
• DSCR +3.6/10.0
• Rent growth +3.6/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Hey there! Get ready to be blown away by this amazing property! Picture this: three spacious bedrooms, two and a half bathrooms - perfect for your family or guests. As you step inside, you'll be greeted by a cozy living room featuring a charming fireplace, just imagine those cozy evenings by the fire!But wait, there's more! How about a galley kitchen that's not only stylish but also functional? And guess what? There's an office downstairs - ideal for those work-from-home days or as a quiet space to focus on your projects. Now, let's talk about the outdoor space - a large deck at the back of the house overlooking a vast, private backyard. Can you imagine the fun BBQs, relaxing mornings with

Key facts

• Large deck
• Galley kitchen
• Private backyard

Tags

• GALLEY KITCHEN
• LARGE DECK
• PRIVATE BACKYARD
• OFFICE DOWNSTAIRS

Property features AI

Finance

• Other: Cable TV available

Exterior

• Parking: Attached garage with 2 garage spaces
• Utilities: Public sewer
• Home design: Two-story home
• Construction: Slab foundation
• Exterior features: Vinyl exterior; Privacy wood fence in the rear; Paved road access; Public water

Interior

• Kitchen: Eat-in kitchen; Formica countertops; Painted cabinets; Free-standing range; Dishwasher
• Bedrooms: Primary bedroom on second floor with private bath, separate shower and walk-in closet; Second bedroom on second floor with shared bath and tub/shower; Third bedroom on second floor with shared bath and tub/shower
• Flooring: Carpet in secondary bedrooms
• Bathrooms: Two full bathrooms; One half bathroom; Additional two full bathrooms listed (see agent for details)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan; Smoke detector; Attic access; Fireplace (1)
• Laundry & utility: Main-level laundry in closet (electric hookup); Heated laundry space; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-57 ($-679/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (28.2% below list).
• Recommended offer: $176k (28.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#114 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; 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: White Knoll Elementary (math 32% / reading 36%, grade F, #359 of 597 statewide, top 60%, 673 students, 41% FRL); White Knoll Middle (math 19% / reading 31%, grade F, #165 of 229 statewide, top 72%, 816 students, 52% FRL); White Knoll High (math 47% / reading 85%, grade B, #81 of 196 statewide, top 42%, 2,204 students, 45% FRL) — zoned schools average 46% FRL vs 30% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 193 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $7k 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 150 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $114k; list at $245k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $175,928 (28.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $241,670
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
930 Laurel Rd	0.30mi	3/2.0	1,613 (-5%)	11mo	$231,000	$143	67

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-40,593
• Equity at exit: $36,515

10-year hold

• IRR: -6.1%
• Equity multiple: 0.58×
• Total profit: $-28,538
• Equity at exit: $21,174

Cash invested: $68,572 (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 29170

• Home prices YoY: -16.9%
• Rents YoY: 4.6%
• Active inventory: 193
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,759 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-57

Break-even live

Break-even rent $1,831

Max offer price $234,898

Occupancy floor 98%

Sensitivity live

Price	-10% $82	-5% $13	+0% $-57	+5% $-126	+10% $-195
Rent	-10% $-196	-5% $-126	+0% $-57	+5% $13	+10% $82
Rate	-1.0pp $67	-0.5pp $6	base $-57	+0.5pp $-120	+1.0pp $-185

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 Carson Ct Lexington, SC	3.0	2.0	1404	$2,095	$1.49	16d	1	0.57mi

Listing history 18 events

1. 2026-06-22
   days on market $244,900 Active 150 DOM
2. 2026-06-18
   days on market $244,900 Active 147 DOM
3. 2026-06-17
   days on market $244,900 Active 146 DOM
4. 2026-06-16
   days on market $244,900 Active 145 DOM
5. 2026-06-15
   days on market $244,900 Active 144 DOM
6. 2026-06-14
   days on market $244,900 Active 142 DOM
7. 2026-06-10
   days on market $244,900 Active 139 DOM
8. 2026-06-09
   days on market $244,900 Active 138 DOM
9. 2026-06-08
   days on market $244,900 Active 137 DOM
10. 2026-06-07
    days on market $244,900 Active 136 DOM
11. 2026-06-03
    days on market $244,900 Active 132 DOM
12. 2026-06-03
    days on market $244,900 Active 131 DOM
13. 2026-06-02
    days on market $244,900 Active 130 DOM
14. 2026-05-31
    days on market $244,900 Active 129 DOM
15. 2026-03-28
    price $244,900
16. 2026-01-20
    listed $249,900 Active
17. 2006-05-19
    soldstatus $114,000
18. 2001-10-05
    soldstatus $952,000

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $1,396 · $116/mo
• Expected delta: +$674/yr (+$56/mo · 93.5%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $21,111
• − Mortgage interest: −$13,718
• − Property taxes: −$722
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − Depreciation: −$7,124
• Taxable loss: −$5,055
• Est. tax savings @ 24.0%: +$1,213
• After-tax cash flow: $534/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 — Oak Grove

• Score: 66/100
• State rank: #114
• US rank: #11681

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

• County: Lexington County · 232,571 people
• Metro: Columbia, SC
• Population (ZIP): 21,247
• Household income: $74,902
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 147.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Hispanic / Latino 10% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, Jamaica, Guatemala
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -52.72%
• Current HPI: 259.713
• Rent YoY: ▲ 4.57%
• 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

-74.3% since first listed

4 events — show timeline

• 2026-03-28 Price Changed $244,900 Consolidated MLS
• 2026-01-20 Listed $249,900 Consolidated MLS
• 2006-05-19 Sold (Public Records) $114,000 Public Records
• 2001-10-05 Sold (Public Records) $952,000 Public Records

Property tax history

-10.5%/yr

Latest (2024): $722 · +4.4% YoY. Source: county tax records.