505 Chrome Horse Ln · Red Bank, SC 29073

$244,170

3 bd · 3.0 ba · 1,635 sqft · Townhouse · 78 Days on market

Built 2026 Good condition

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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 +12.6/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Take a look at the Leyla at Copper Crest Townhomes, a townhome neighborhood with easy highway access and minutes from dining, entertainment, and outdoor recreation. This Leyla keeps everything on one level where it counts, with the primary suite, a guest bedroom, and the main living spaces all on the ground floor. The kitchen centers around an island with granite countertops and Luna Pearl cabinetry, GE gas appliances along the wall, and vinyl plank flooring carrying through to the dining and living areas. A covered rear patio extends the living space outward. Upstairs, two additional bedrooms and a flex space round out the second level. At roughly 1,650 square feet, this two-level townhome

Key facts

• Covered rear patio
• Front porch
• Modern kitchen

Tags

• OPEN-CONCEPT LAYOUT
• MODERN KITCHEN
• OUTDOOR SPACES
• FRONT PORCH
• COVERED REAR PATIO
• GUEST BEDROOM

Property features AI

Finance

• Financial info: List price $244,170

Exterior

• Parking: 1-car garage / 1 total parking space
• Home design: Single-family property
• Exterior features: Living area approximately 1,635

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 3 bathrooms
• Interior features: Spec home (The Leyla plan)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $244k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-30 ($-355/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (14.1% below list).
• Recommended offer: $210k (14.1% 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: Red Bank Elementary (math 36% / reading 45%, grade F, #286 of 597 statewide, top 49%, 568 students, 41% FRL); Carolina Springs Middle (math 25% / reading 39%, grade F, #119 of 229 statewide, top 54%, 914 students, 46% 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); 572 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 33% 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 78 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.

Recommended offer $209,855 (14.1% 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 78 days. Have you received any prior offers? Is the seller open to a 14% 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 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?
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: 0.86% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-40,908
• Equity at exit: $36,407

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-35,822
• Equity at exit: $21,111

Cash invested: $68,368 (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: 572
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,099 high
• Mortgage (P&I): −$1,280
• Tax est. 1.5%: −$305 /mo · $3,663/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-30

Break-even live

Break-even rent $2,136

Max offer price $239,894

Occupancy floor 96%

Sensitivity live

Price	-10% $139	-5% $55	+0% $-30	+5% $-114	+10% $-198
Rent	-10% $-195	-5% $-112	+0% $-30	+5% $53	+10% $136
Rate	-1.0pp $93	-0.5pp $33	base $-30	+0.5pp $-93	+1.0pp $-157

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: $61,042
• Closing costs: $7,325
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 Lady Liberty Way Lexington, SC	3.0	3.0	1635	$1,995	$1.22	25d	1	0.11mi
464 Lady Liberty Way Lexington, SC	4.0	2.5	2100	$2,150	$1.02	25d	1	0.12mi
110 Darian Dr Lexington, SC	3.0	2.0	1364	$1,949	$1.43	16d	1	0.39mi
1603 Commendable Ct Lexington, SC	3.0	2.0	1399	$2,033	$1.45	5d	1	0.48mi
1607 Commendable Ct Lexington, SC	4.0	2.5	1783	$2,238	$1.26	25d	1	0.49mi
120 W Lake Dr Lexington, SC	3.0	2.0	1476	$1,880	$1.27	5d	1	0.83mi
140 Land of Lakes Cir Lexington, SC	3.0	2.0	1452	$1,925	$1.33	5d	1	0.87mi
212 Pin Oak Dr Lexington, SC	3.0	2.0	1349	$1,710	$1.27	16d	1	0.95mi
290 Browning Ct Unit b Lexington, SC	2.0	1.0	1100	$1,495	$1.36	23d	1	1.07mi
919 Dovefield Ln Lexington, SC	4.0	2.5	2022	$2,299	$1.14	25d	1	1.13mi
847 Dovefield Ln Lexington, SC	3.0	2.0	1302	$1,850	$1.42	16d	1	1.15mi

Listing history 13 events

1. 2026-06-18
   days on market $244,170 Active 78 DOM
2. 2026-06-17
   days on market $244,170 Active 77 DOM
3. 2026-06-16
   days on market $244,170 Active 76 DOM
4. 2026-06-15
   days on market $244,170 Active 75 DOM
5. 2026-06-14
   days on market $244,170 Active 73 DOM
6. 2026-06-10
   days on market $244,170 Active 70 DOM
7. 2026-06-09
   days on market $244,170 Active 69 DOM
8. 2026-06-08
   days on market $244,170 Active 68 DOM
9. 2026-06-07
   days on market $244,170 Active 67 DOM
10. 2026-06-03
    days on market $244,170 Active 63 DOM
11. 2026-06-03
    days on market $244,170 Active 62 DOM
12. 2026-06-02
    days on market $244,170 Active 61 DOM
13. 2026-05-31
    days on market $244,170 Active 60 DOM

ⓘ 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: $25,183
• − Mortgage interest: −$13,677
• − Property taxes: −$3,663
• − Insurance: −$1,221
• − Repairs & maintenance: −$2,015
• − Management: −$2,015
• − Depreciation: −$7,103
• Taxable loss: −$4,510
• Est. tax savings @ 24.0%: +$1,083
• After-tax cash flow: $728/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This townhome is in good condition with a modern kitchen and bathrooms, well-maintained exterior, and a clean and tidy appearance. It is ready for move-in and would benefit from a fresh coat of paint on the exterior siding and cleaning of the gutters to further enhance its value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for rental properties.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for rental properties. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Red Bank, SC
• County: Lexington County · 232,571 people
• City population: 51,471
• 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