402 Viceroy Path · Gilbert, SC 29054

$301,145

5 bd · 3.5 ba · 2,342 sqft · SingleFamily · 43 Days on market

Built 2026 4,356 sqft lot $44/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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.3/10.0

Listing remarks

Estimated Completion, August 2026. The Devon II offers a thoughtfully designed floor plan featuring modern functionality and comfortable living spaces. The welcoming foyer provides direct access to both the upstairs and the spacious family room, which flows seamlessly into the open-concept kitchen and dining area. The first-floor Owner’s Suite is privately located and includes a walk-in closet and a double vanity bath. A convenient mudroom with access to the laundry room adds everyday practicality. Upstairs, four additional bedrooms and two full baths provide ample space for family or guests. Enjoy outdoor living on the covered back porch, all within a desirable community featuring a

Key facts

• Convenient mudroom
• Open-concept kitchen
• Walk-in closet

Tags

• OPEN-CONCEPT KITCHEN
• WALK-IN CLOSET
• DOUBLE VANITY BATH
• CONVENIENT MUDROOM
• COVERED BACK PORCH
• POOL AND CABANA

Property features AI

Finance

• Other: Directions: Bear right onto Spring Hill Rd. off of Main Street in Downtown Gilbert. Travel on Spring Hill Rd. for 2.5 miles, and Winston Point will be on the right.
• HOA & community: Property is part of an association

Exterior

• Parking: Attached garage with 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Two-story residence; Lot number 95
• Construction: Slab foundation
• Exterior features: Vinyl exterior finish; Paved road access; Lot is approximately 0.1 acre

Interior

• Kitchen: Granite countertops; Luxury vinyl plank flooring
• Bedrooms: Primary/ master bedroom located on the main level
• Flooring: Luxury vinyl plank
• Bathrooms: Three full bathrooms; One half bathroom; Two secondary full bathrooms
• Heating & cooling: Central air conditioning; Gas pack heating
• Interior features: Luxury vinyl plank flooring in living areas; Granite countertops in kitchen
• Laundry & utility: Washer and dryer located on the main level

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $301k.

Deal economics

• At list price, monthly cash flow is $-431 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (28.8% below list).
• Recommended offer: $214k (28.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#52 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety 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 Middle (math 26% / reading 36%, grade F, #128 of 229 statewide, top 58%, 822 students, 40% FRL); Gilbert High (math 37% / reading 83%, grade C+, #109 of 196 statewide, top 55%, 1,118 students, 38% FRL).
• Market conditions: 280 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

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($292k) is reasonable based on typical stale-listing flexibility.

Recommended offer $214,500 (28.8% 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 43 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.71% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.13%
• DSCR: 0.73
• GRM: 11.7

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: 20.0%
• Equity multiple: 2.62×
• Total profit: $136,646
• Equity at exit: $271,295

10-year hold

• IRR: 18.3%
• Equity multiple: 6.03×
• Total profit: $424,085
• Equity at exit: $585,059

Cash invested: $84,321 (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: 280
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,145 medium
• Mortgage (P&I): −$1,579
• Tax est. 1.5%: −$376 /mo · $4,517/yr
• Insurance: −$125
• HOA: −$44
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $-431

Break-even live

Break-even rent $2,690

Max offer price $238,837

Occupancy floor —

Sensitivity live

Price	-10% $-222	-5% $-327	+0% $-431	+5% $-535	+10% $-639
Rent	-10% $-600	-5% $-515	+0% $-431	+5% $-346	+10% $-261
Rate	-1.0pp $-279	-0.5pp $-354	base $-431	+0.5pp $-509	+1.0pp $-588

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: $75,286
• Closing costs: $9,034
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Wild Tulip Ct Gilbert, SC	4.0	2.5	2358	$2,145	$0.91	5d	1	0.48mi

HOA detail

• Monthly dues: $44 · $528/yr

Listing history 15 events

1. 2026-06-22
   days on market $301,145 Active 43 DOM
2. 2026-06-18
   days on market $301,145 Active 40 DOM
3. 2026-06-17
   days on market $301,145 Active 39 DOM
4. 2026-06-16
   days on market $301,145 Active 38 DOM
5. 2026-06-15
   days on market $301,145 Active 37 DOM
6. 2026-06-14
   days on market $301,145 Active 35 DOM
7. 2026-06-10
   days on market $301,145 Active 32 DOM
8. 2026-06-09
   days on market $301,145 Active 31 DOM
9. 2026-06-08
   days on market $301,145 Active 30 DOM
10. 2026-06-07
    days on market $301,145 Active 29 DOM
11. 2026-06-03
    days on market $301,145 Active 25 DOM
12. 2026-06-03
    days on market $301,145 Active 24 DOM
13. 2026-06-02
    days on market $301,145 Active 23 DOM
14. 2026-05-31
    days on market $301,145 Active 22 DOM
15. 2026-05-09
    listed $301,145 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,740
• − Mortgage interest: −$16,869
• − Property taxes: −$4,517
• − Insurance: −$1,506
• − Repairs & maintenance: −$2,059
• − Management: −$2,059
• − HOA: −$528
• − Depreciation: −$8,761
• Taxable loss: −$10,559
• Est. tax savings @ 24.0%: +$2,534
• After-tax cash flow: $-2,633/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 — Gilbert

• Score: 71/100
• State rank: #52
• US rank: #7008

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment B- 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

1 event — show timeline

• 2026-05-09 Listed $301,145 Consolidated MLS