215 Ridge Terrace Ln · Red Bank, SC 29073

$234,900

3 bd · 2.5 ba · 1,356 sqft · SingleFamily public records · 56 Days on market

Built 2012 5,227 sqft lot Est $239k · at est. $29/mo HOA · 1% 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 +18.0/30.0
• ARV discount +8.2/15.0
• DSCR +5.6/10.0
• Schools +4.2/10.0
• 1% rule +3.8/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Ridge Terrace Subdivision! This charming 3-bedroom, 2.5-bath home offers a thoughtfully designed layout perfect for first-time buyers or those looking to downsize. The bright and functional kitchen features new appliances that were installed in 2025. There are ceiling fans throughout that add comfort and efficiency. Freshly painted with professionally cleaned carpets, this home is truly move-in ready. Enjoy added convenience with a garage, plus relax or entertain in the fenced backyard complete with a sprinkler system. All of this in a desirable location at a great price—don’t miss your opportunity to call this home! Disclaimer: CMLS has not reviewed and, therefore,

Key facts

• Move-in ready
• Ceiling fans
• New appliances

Tags

• BRIGHT AND FUNCTIONAL KITCHEN
• NEW APPLIANCES
• CEILING FANS
• FENCED BACKYARD
• SPRINKLER SYSTEM
• MOVE-IN READY

Property features AI

Finance

• Other: Lot size approximately 0.12 acres
• HOA & community: Property is part of an association

Exterior

• Parking: Attached garage with 1 garage space on the main level
• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Slab foundation
• Exterior features: Vinyl exterior finish; Sprinkler system; Rear wood privacy fence (rear only); Paved road access; Covered front porch; Covered back porch

Interior

• Kitchen: Formica countertops; Stained wood cabinets; Smooth-surface range; Dishwasher; Microwave above the stove; Disposal; Vinyl floor
• Bedrooms: Primary bedroom on second floor with private bath, ceiling fan, and carpet; Second bedroom on second floor with shared bath, ceiling fan, private closet, and carpet; Third bedroom on second floor with shared bath, ceiling fan, private closet, and carpet
• Flooring: Carpet in bedrooms and great room; Vinyl in kitchen and formal dining
• Bathrooms: Two full bathrooms; One half bathroom; Two additional full secondary baths (as listed)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans in bedrooms and great room; Carpeted bedrooms and great room; Formal dining with vinyl flooring; Covered front and back porches; Dishwasher, garbage disposal, and over-the-range microwave; Smooth-surface range; Countertops are Formica with stained wood cabinets; Vinyl kitchen flooring; Heated laundry space
• Laundry & utility: Laundry area in heated space on second level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $200 ($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 $206k (12.2% below list).
• Recommended offer: $206k (12.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#121 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment C-, crime D+, amenities 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 High (math 47% / reading 85%, grade B, #81 of 196 statewide, top 42%, 2,204 students, 45% FRL).
• Market conditions: Rents rising (+3.2%/yr); 564 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 56 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago 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 $142k; list at $235k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $206,294 (12.2% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $238,656
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Megan Ln	0.36mi	3/2.0	1,279 (-6%)	18mo	$225,000	$176	56

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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-24,894
• Equity at exit: $35,024

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-3,546
• Equity at exit: $20,310

Cash invested: $65,772 (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 29073

• Home prices YoY: -19.1%
• Rents YoY: 3.2%
• Active inventory: 564
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,063 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$71 /mo · $848/yr
• Insurance: −$98
• HOA: −$29
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $200

Break-even live

Break-even rent $1,809

Max offer price $234,900

Occupancy floor 85%

Sensitivity live

Price	-10% $333	-5% $267	+0% $200	+5% $134	+10% $67
Rent	-10% $37	-5% $119	+0% $200	+5% $282	+10% $363
Rate	-1.0pp $319	-0.5pp $260	base $200	+0.5pp $139	+1.0pp $78

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 Carson Ct Lexington, SC	3.0	2.0	1404	$2,095	$1.49	15d	1	0.40mi
128 S Wrenwood Dr Lexington, SC	3.0	2.0	1250	$1,695	$1.36	24d	1	1.25mi
290 Browning Ct Unit b Lexington, SC	2.0	1.0	1100	$1,495	$1.36	22d	1	1.37mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 20 events

1. 2026-06-18
   days on market $234,900 Active 56 DOM
2. 2026-06-17
   days on market $234,900 Active 55 DOM
3. 2026-06-16
   days on market $234,900 Active 54 DOM
4. 2026-06-15
   days on market $234,900 Active 53 DOM
5. 2026-06-14
   days on market $234,900 Active 51 DOM
6. 2026-06-10
   days on market $234,900 Active 48 DOM
7. 2026-06-09
   days on market $234,900 Active 47 DOM
8. 2026-06-08
   days on market $234,900 Active 46 DOM
9. 2026-06-07
   days on market $234,900 Active 45 DOM
10. 2026-06-03
    days on market $234,900 Active 41 DOM
11. 2026-06-03
    days on market $234,900 Active 40 DOM
12. 2026-06-02
    days on market $234,900 Active 39 DOM
13. 2026-06-01
    price $234,900 Active 38 DOM
14. 2026-05-31
    days on market $239,900 Active 38 DOM
15. 2026-04-23
    listed $239,900 Active
16. 2019-08-14
    soldstatus $142,000
17. 2019-08-09
    soldstatus $142,000
18. 2019-06-03
    historical
19. 2019-05-31
    listed $139,000 Active
20. 2012-02-28
    soldstatus $200,000

ⓘ 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: $848 · $71/mo
• Projected year-2 tax: $1,339 · $112/mo
• Expected delta: +$491/yr (+$41/mo · 57.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $24,755
• − Mortgage interest: −$13,158
• − Property taxes: −$848
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − HOA: −$348
• − Depreciation: −$6,833
• Taxable loss: −$1,568
• Est. tax savings @ 24.0%: +$376
• After-tax cash flow: $2,780/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 — Red Bank

• Score: 66/100
• State rank: #121
• US rank: #11985

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): 53,156
• Household income: $77,229
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 935.0

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 (72%)
• Race & ethnicity: White 72% Black 14% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -59.20%
• Current HPI: 249.8957
• Rent YoY: ▲ 3.24%
• 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

+20.0% since first listed

6 events — show timeline

• 2026-04-23 Listed $239,900 Consolidated MLS
• 2019-08-14 Sold (Public Records) $142,000 Public Records
• 2019-08-09 Sold (MLS) $142,000 SBOR
• 2019-06-03 Delisted — Consolidated MLS
• 2019-05-31 Listed $139,000 Consolidated MLS
• 2012-02-28 Sold (Public Records) $200,000 Public Records

Property tax history

-7.5%/yr

Latest (2024): $848 · +4.4% YoY. Source: county tax records.