728 Feldspar Ct · Lake Murray of Richland, SC 29036

$344,450

4 bd · 2.0 ba · 1,850 sqft · SingleFamily · 3 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 +13.1/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Meet the Juniper II (2x4) at Chapin Place, a serene wooded neighborhood with swift interstate access and nearby dining, shopping, and water recreation. This Juniper II (2x4) spreads across a single floor with four bedrooms, two full baths, and a two-car garage in roughly 1,850 square feet. The open kitchen, dining area, and family room share one connected space at the heart of the home, where Sparkling White quartz countertops and Marsh Cane cabinetry line the perimeter and GE stainless appliances anchor the cooking wall. Pendant lighting over the island keeps the prep zone bright, and a walk-in pantry holds the overflow. Sliding doors open to a screened patio, pulling the living space outw

Key facts

• Water recreation
• Nearby dining
• Nearby shopping

Tags

• SERENE WOODED NEIGHBORHOOD
• SWIFT INTERSTATE ACCESS
• NEARBY DINING
• NEARBY SHOPPING
• WATER RECREATION
• OPEN KITCHEN

Property features AI

Finance

• Other: Address: 728 Feldspar Ct, Chapin SC 29036; Plan name: The Juniper II; Inventory type: Spec
• Financial info: List price $344,450

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family property; Active listing
• Exterior features: Living area approximately 1,850

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home (The Juniper II plan)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $344k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-11 ($-131/yr) — negative.
• To cash-flow at today's rent, offer at most $343k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (12.9% below list).
• Recommended offer: $300k (12.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#102 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Lexington 05 (suburban): math 47% / reading 55% proficiency, ranked #5 of 80 in SC (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lake Murray Elementary (math 78% / reading 82%, grade A+, #4 of 597 statewide, top 1%, 809 students, 18% FRL); Chapin Middle (math 50% / reading 57%, grade C+, #29 of 229 statewide, top 13%, 991 students, 27% FRL); Chapin High (math 82% / reading 91%, grade A, #7 of 196 statewide, top 4%, 1,615 students, 100% FRL) — zoned schools average 48% FRL vs 27% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 73% at this address vs 51% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Lexington 05 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 443 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($114k/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 $10k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $299,941 (12.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-56,464
• Equity at exit: $51,359

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-49,876
• Equity at exit: $29,782

Cash invested: $96,446 (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 29036

• Active inventory: 443
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,999 medium
• Mortgage (P&I): −$1,806
• Tax est. 1.5%: −$431 /mo · $5,167/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-11

Break-even live

Break-even rent $3,013

Max offer price $342,875

Occupancy floor 95%

Sensitivity live

Price	-10% $227	-5% $108	+0% $-11	+5% $-130	+10% $-249
Rent	-10% $-248	-5% $-129	+0% $-11	+5% $108	+10% $226
Rate	-1.0pp $163	-0.5pp $77	base $-11	+0.5pp $-100	+1.0pp $-191

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: $86,112
• Closing costs: $10,334
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 Whispering Oak Ln Chapin, SC	3.0	2.0	1375	$3,200	$2.33	13d	1	1.20mi
425 Pine Log Run Chapin, SC	5.0	3.0	2588	$2,600	$1.00	13d	1	1.23mi
222 Indian Creek Cir Chapin, SC	3.0	2.0	1500	$2,750	$1.83	25d	1	1.26mi

Listing history 3 events

1. 2026-06-21
   days on market $344,450 Active 3 DOM
2. 2026-06-19
   remarks 699-char remark
3. 2026-06-19
   listed $344,450 Active 1 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: $35,993
• − Mortgage interest: −$19,295
• − Property taxes: −$5,167
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,879
• − Management: −$2,879
• − Depreciation: −$10,020
• Taxable loss: −$5,970
• Est. tax savings @ 24.0%: +$1,433
• After-tax cash flow: $1,302/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 single-family home is in good condition with a fresh paint job and modern finishes. It offers a good balance of curb appeal and interior updates that can enhance its resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value
• Resale Replace countertops — Quartz countertops are durable and can add value
• Both Install smart home devices — Smart home devices can increase convenience and appeal to buyers

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value ↑
• Resale Replace countertops — Quartz countertops are durable and can add value ↑
• Both Install smart home devices — Smart home devices can increase convenience and appeal to buyers ↑

ⓘ 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 05
• NCES district ID: 4502820
• Math proficiency: 47% ▼ -7.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $67,732
• Composite: 45.28/100
• National rank: #2656
• State rank: #5 of 80 in SC

Livability — Lake Murray of Richland

• Score: 67/100
• State rank: #102
• US rank: #10903

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• City population: 179
• Metro: Columbia, SC
• Population (ZIP): 26,620
• Household income: $113,986
• Rent vs Own: 8.1% rent · 91.9% own
• Severe rent burden: 212.0

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 (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 4% Italian 2%
• Foreign-born: 6% · Canada, South Korea, China
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Korean 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: ▼ -134.76%
• Current HPI: 248.3807
• Rent YoY: —
• 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