4656 Augusta Hwy · Summit, SC 29054

$299,000

3 bd · 1.0 ba · 1,315 sqft · SingleFamily public records · 35 Days on market

Built 1970 0.26 ac lot

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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 +7.0/30.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +0.6/10.0

Listing remarks

Welcome to this updated Gilbert home situated on a 0.258 acre lot with no HOA, offering space and functionality. Having 4 bedrooms and 2 bathrooms, this home provides a versatile layout to fit a variety of lifestyles. The large kitchen offers plenty of room for cooking, gathering and includes a large pantry. Spacious living areas and well-sized bedrooms create a comfortable and practical flow throughout. Primary bedroom includes a his and hers closet and walk in shower. Step outside to a fully fenced backyard—perfect for pets, play, or hosting. The back yard is equipped with a workshop and gardend shed perfect for storage. Located on Hwy 1 convenient to schools, Dollar General, Kjs ma

Key facts

• 0.258 acre lot
• Large kitchen
• Large pantry

Tags

• 0.258 ACRE LOT
• NO HOA
• LARGE KITCHEN
• LARGE PANTRY
• FULLY FENCED BACKYARD
• WORKSHOP

Property features AI

Finance

• Other: Property sits on approximately 0.26 acre on a paved road; Located directly on Highway 1 near the intersection of Evans

Exterior

• Parking: Detached or garage information not provided
• Utilities: Public water; Septic sewer
• Home design: Single-story home
• Construction: Partial brick above foundation, hard coat stucco, and wood exterior; Crawlspace foundation
• Exterior features: Covered back porch; Uncovered front porch; Workshop; Rear wood fencing

Interior

• Kitchen: Granite countertops; Bar seating; Pantry; Stained wood cabinets; Tile flooring; Tiled backsplash; Dishwasher; Countertop microwave; Range is free-standing and self-cleaning; Refrigerator included
• Bedrooms: Master bedroom on main level with his-and-hers closets and private bath; Three additional bedrooms on main level with private closets and shared baths
• Flooring: Luxury vinyl plank flooring in bedrooms and living areas; Tile floor in kitchen
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Attic with pull-down access; Wood-burning fireplace; Fireplace in living room; Ceiling fans throughout
• Laundry & utility: Main-level laundry in heated utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-435 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (25.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (44.4% below list).
• Recommended offer: $166k (44.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#145 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, 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: Gilbert Elementary (math 33% / reading 26%, grade F, #399 of 597 statewide, top 69%, 768 students, 45% FRL); Gilbert High (math 37% / reading 83%, grade C+, #109 of 196 statewide, top 55%, 1,118 students, 38% FRL).
• Market conditions: 273 active listings in the ZIP; 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 ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; list at $299k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,102 (44.4% 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 35 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.56% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.24%
• DSCR: 0.72
• GRM: 15.0

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: 19.8%
• Equity multiple: 2.61×
• Total profit: $134,960
• Equity at exit: $269,363

10-year hold

• IRR: 18.2%
• Equity multiple: 6.00×
• Total profit: $418,887
• Equity at exit: $580,891

Cash invested: $83,720 (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: 273
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-435

Break-even live

Break-even rent $2,212

Max offer price $222,135

Occupancy floor —

Sensitivity live

Price	-10% $-266	-5% $-350	+0% $-435	+5% $-520	+10% $-961
Rent	-10% $-566	-5% $-501	+0% $-435	+5% $-370	+10% $-304
Rate	-1.0pp $-285	-0.5pp $-359	base $-435	+0.5pp $-513	+1.0pp $-591

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $299,000 Active 35 DOM
2. 2026-06-17
   days on market $299,000 Active 34 DOM
3. 2026-06-16
   days on market $299,000 Active 33 DOM
4. 2026-06-15
   days on market $299,000 Active 32 DOM
5. 2026-06-14
   days on market $299,000 Active 30 DOM
6. 2026-06-10
   days on market $299,000 Active 27 DOM
7. 2026-06-09
   days on market $299,000 Active 26 DOM
8. 2026-06-08
   days on market $299,000 Active 25 DOM
9. 2026-06-07
   days on market $299,000 Active 24 DOM
10. 2026-06-03
    days on market $299,000 Active 20 DOM
11. 2026-06-03
    days on market $299,000 Active 19 DOM
12. 2026-06-02
    days on market $299,000 Active 18 DOM
13. 2026-05-31
    days on market $299,000 Active 17 DOM
14. 2026-05-14
    listed $299,000 Active
15. 2018-12-18
    soldstatus $110,000
16. 2008-06-06
    soldstatus $85,000
17. 1997-03-01
    soldstatus $65,900
18. 1995-03-01
    soldstatus $49,500
19. 1986-06-01
    soldstatus $40,000

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

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $657 · $55/mo
• Projected year-2 tax: $1,704 · $142/mo
• Expected delta: +$1,047/yr (+$87/mo · 159.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,932
• − Mortgage interest: −$16,749
• − Property taxes: −$657
• − Insurance: −$1,495
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$8,698
• Taxable loss: −$10,856
• Est. tax savings @ 24.0%: +$2,605
• After-tax cash flow: $-2,616/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 — Summit

• Score: 65/100
• State rank: #145
• US rank: #13523

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment C 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

+647.5% since first listed

6 events — show timeline

• 2026-05-14 Listed $299,000 Consolidated MLS
• 2018-12-18 Sold (Public Records) $110,000 Public Records
• 2008-06-06 Sold (Public Records) $85,000 Public Records
• 1997-03-01 Sold (Public Records) $65,900 Public Records
• 1995-03-01 Sold (Public Records) $49,500 Public Records
• 1986-06-01 Sold (Public Records) $40,000 Public Records

Property tax history

-13.6%/yr

Latest (2024): $657 · +4.4% YoY. Source: county tax records.