1158 Ederbach Dr

Lexington, SC 29073

$205,000D

3 bd · 2.5 ba · 1,320 sqft · Built 2022 · Townhouse · Pending · 253 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,169/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$631
• HOA: −$124
• Vac / Maint / Mgmt: −$456
• Net cashflow: $-116/mo
• Annual: $-1,393/yr
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• 1% rule: 1.06%
• Cash to close: $57,400

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $205k.
• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (10.0% below list).
• Meets the 1% rule at list price ($2k rent vs $205k).
• It's been on market 253 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#8 in SC, #1,502 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, employment A; Watch: commute 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: Meadow Glen Elementary (math 70% / reading 67%, grade B+, #41 of 597 statewide, top 7%, 810 students, 13% FRL); Meadow Glen Middle (math 51% / reading 65%, grade B, #17 of 229 statewide, top 7%, 808 students, 20% FRL); River Bluff High (math 54% / reading 93%, grade B+, #43 of 196 statewide, top 22%, 2,197 students, 19% FRL).
• Zoned-school proficiency averages 67% at this address vs 48% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Lexington 01 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 3.2% of price.
• Market conditions: Rents rising (+3.2%/yr); 572 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 34% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?