303 South Lake Ct · Red Bank, SC 29073

$224,879

3 bd · 2.5 ba · 1,720 sqft · Townhouse · 1 Days on market

Built 2026 Good condition 3,920 sqft lot $151/mo HOA · 7% 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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

LOT 303 - Low maintenance | Convenient Location | Lexington One Schools. | Life at South Lake Commons is all about simplicity, convenience, and being right where you want to be. Located in a growing area of Lexington, SC just off of I-20, this townhome community gives you the freedom to enjoy your home without the constant upkeep that comes with traditional single-family living. South Lake Townhomes are an ideal setup for busy professionals, first-time buyers, or anyone looking to downsize without giving up comfort or quality. HOA dues include lawncare / landscaping, yearly pressure washing and termite bonding for exterior. Each home at South Lake Commons is thoughtfully designed with moder

Key facts

• $151 HOA
• Garage
• Built 2026

Property features AI

Finance

• Other: New construction builder warranty
• HOA & community: Association present; Association maintains backyard, front yard, landscaping, common areas, exterior and green areas

Exterior

• Parking: Attached garage on main level (1 car); Total of 3 parking spaces
• Utilities: Public water; Public sewer; Thermopane (energy-efficient) windows
• Home design: Two-story house; Vinyl exterior
• Construction: Slab foundation
• Exterior features: Covered front porch; Patio; Partial privacy fencing

Interior

• Kitchen: Eat-in kitchen with island; Pantry; Granite and quartz countertops; Painted cabinets; Recessed lighting; Dishwasher; Disposal; Microwave (above stove); Free-standing, smooth-surface self-cleaning range
• Bedrooms: Master bedroom (second floor) with double vanity, private bath, separate shower, walk-in closet and recessed lighting; Bedroom 2 (second floor) with double vanity, shared bath, tub/shower, private closet and recessed lighting; Bedroom 3 (second floor) with double vanity, shared bath, tub/shower, private closet and recessed lighting
• Flooring: Carpet in bedrooms
• Bathrooms: Two full bathrooms; One half bathroom; Two secondary full baths
• Heating & cooling: Central heating and cooling; Electric and gas heating (levels 1 and 2); Heat pumps on first and second levels; Split system
• Interior features: Garage opener; Smoke detector; Attic access; Recessed lighting in living areas
• Laundry & utility: Laundry located on second floor; Heated laundry space; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-55 ($-663/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (7.1% below list).
• Recommended offer: $209k (7.1% 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 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $208,839 (7.1% 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. 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: 0.93% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 9.0

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-39,330
• Equity at exit: $33,530

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-36,190
• Equity at exit: $19,443

Cash invested: $62,966 (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: 9.0×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,373/yr
• Insurance: −$94
• HOA: −$151
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-55

Break-even live

Break-even rent $2,158

Max offer price $216,883

Occupancy floor 98%

Sensitivity live

Price	-10% $100	-5% $22	+0% $-55	+5% $-133	+10% $-211
Rent	-10% $-220	-5% $-138	+0% $-55	+5% $27	+10% $110
Rate	-1.0pp $58	-0.5pp $2	base $-55	+0.5pp $-114	+1.0pp $-173

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: $56,220
• Closing costs: $6,746
• 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	0.32mi
464 Lady Liberty Way Lexington, SC	4.0	2.5	2100	$2,150	$1.02	25d	1	0.32mi
110 Darian Dr Lexington, SC	3.0	2.0	1364	$1,949	$1.43	16d	1	0.60mi
1603 Commendable Ct Lexington, SC	3.0	2.0	1399	$2,033	$1.45	5d	1	0.60mi
1607 Commendable Ct Lexington, SC	4.0	2.5	1783	$2,238	$1.26	25d	1	0.61mi
120 W Lake Dr Lexington, SC	3.0	2.0	1476	$1,880	$1.27	5d	1	1.02mi
140 Land of Lakes Cir Lexington, SC	3.0	2.0	1452	$1,925	$1.33	5d	1	1.07mi
290 Browning Ct Unit b Lexington, SC	2.0	1.0	1100	$1,495	$1.36	23d	1	1.08mi
212 Pin Oak Dr Lexington, SC	3.0	2.0	1349	$1,710	$1.27	16d	1	1.11mi
919 Dovefield Ln Lexington, SC	4.0	2.5	2022	$2,299	$1.14	25d	1	1.25mi
847 Dovefield Ln Lexington, SC	3.0	2.0	1302	$1,850	$1.42	16d	1	1.28mi

HOA detail

• Monthly dues: $151 · $1,812/yr
• Likely covers: landscaping

Listing history 2 events

1. 2026-05-29
   status Pending
2. 2026-05-29
   listed $224,879 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: $25,061
• − Mortgage interest: −$12,597
• − Property taxes: −$3,373
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − HOA: −$1,812
• − Depreciation: −$6,542
• Taxable loss: −$4,397
• Est. tax savings @ 24.0%: +$1,055
• After-tax cash flow: $392/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 · 12 photos

Good 80/100 None rehab

This newly constructed townhome is in excellent condition with modern finishes and a low-maintenance lifestyle. It's an ideal setup for busy professionals or first-time buyers looking to downsize without giving up comfort or quality.

Value-add opportunities

• Resale Painting the exterior — Enhances curb appeal and can add value
• Resale Landscaping improvements — Enhances curb appeal and can add value
• Both Add a smart home system — Improves convenience and can add value
• Both Install smart locks — Improves security and can add value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Enhances curb appeal and can add value ↑
• Resale Landscaping improvements — Enhances curb appeal and can add value ↑
• Both Add a smart home system — Improves convenience and can add value ↑
• Both Install smart locks — Improves security and can add value ↑

ⓘ 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
• 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

2 events — show timeline

• 2026-05-29 Pending — Consolidated MLS
• 2026-05-29 Listed $224,879 Consolidated MLS