Property listing for 116 Gates Cir, Lexington, SC 29072
For SaleTownhouse

$237,500

116 Gates Cir, Lexington, SC 29072

Renovated Corner-Lot Townhouse with Private Backyard Near Downtown

2 Bed · 2 Bath · 1,340 Sq Ft

Updated 2BR/2BA, 1-car garage, fenced yard, steps to Old Mill Pond Trail

2

Beds

2

Baths

1,340

Sq Ft

2007

Built

0.11 acres

Lot

1-car attached + 2-car driveway

Garage

About 116 Gates Cir

The first thing that catches your eye at 116 Gates Circle is the corner-lot advantage — wider sight lines, a private side yard and a fenced backyard that feel more like a small single-family home than a typical townhouse. Inside, 1,340 square feet have been thoughtfully updated: luxury vinyl plank floors extend under high ceilings finished with crown molding, modern LED fixtures brighten living spaces, and a gas fireplace anchors the main room for casual evenings.

Recent renovations are practical and modern. Both bathrooms show contemporary upgrades including smart toilets/bidets and LED smart mirrors; finishes are crisp, neutral and intentionally low-maintenance. The floorplan supports everyday living and entertaining — open living and dining areas flow to a private patio through a sliding door, creating an immediate indoor-outdoor connection that expands usable space in warmer months. A one-car attached garage and a two-car driveway provide flexible parking for guests and owners.

This home was built in 2007 and has been maintained to a high standard; paint, flooring and lighting updates mean minimal near-term work for the next owner. The corner position gives extra privacy and a larger yard footprint compared with many units in Gates Commons — a meaningful perk for buyers who value outdoor space or gardeners who want room for planters and lawn. The layout feels intentionally livable for professionals, downsizers, or investors seeking a turnkey rental with proven demand in the area.

Location is a practical highlight. You're roughly one mile from Old Mill Pond Trail for walks and biking, under three miles to Lexington Medical Center, and less than a mile from Lexington Square shopping and restaurants. River Bluff High School (rated 9/10) serves the area, with Lakeside Middle (7/10) and Lexington Elementary (4/10) also in the district. Comparable recent sales in Gates Commons place fair market value between $230K–$245K, and this unit reflects those competitive market conditions while offering the added benefit of a corner lot and updated systems. With a low-maintenance interior and private outdoor space, 116 Gates Circle is ready for immediate occupancy or rental deployment.

Home Highlights

Move-in readyRecently renovated interiorsPrivate patio and fenced backyardSmart bathroom fixtures (toilets/bidets, LED mirrors)1-car attached garage + 2-car drivewayCorner lot for added privacyGas fireplace and high ceilings

Property Features

Interior Features

  • 2 bedrooms, 2 bathrooms
  • 1,340 SF of living space
  • Luxury vinyl plank flooring
  • High ceilings with crown molding
  • Modern LED lighting throughout
  • Upgraded bathrooms with smart toilets/bidets and LED smart mirrors
  • Gas fireplace

Exterior & Lot

  • Corner lot (0.11 acres / 4,791 SF)
  • Private patio
  • Fenced backyard
  • 1-car attached garage
  • 2-car driveway plus street parking
  • Level topography

Location & Neighborhood

  • Gates Commons neighborhood
  • Approximately 1 mile to Old Mill Pond Trail
  • 0.8 miles to Lexington Square shopping
  • Approximately 2.5 miles to Lexington Medical Center
  • Convenient access to Two Notch Road for commuting

Walkability & Recreation

  • Walkability Rating: 45/100 — Some errands on foot; car recommended for most daily tasks
  • Old Mill Pond Trail (1.0 mi) for walking and biking
  • Neighborhood green spaces and nearby parks
  • Local shopping and dining within 1 mile
  • Running/walking paths and community recreation facilities within short drive

Neighborhood & Location

Gates Commons offers a convenient, small-community feel with quick access to downtown Lexington amenities. Local favorites include Lexington Square’s shops and restaurants, while Old Mill Pond Trail (about one mile away) provides easy outdoor recreation. The neighborhood is well located for commutes via Two Notch Road and is close to Lexington Medical Center. Families and professionals appreciate the blend of suburban calm with nearby retail, trails and essential services.

Market Insights

Lexington’s market is currently balanced with a slight tilt toward sellers in well-priced, move-in-ready segments. Inventory sits around 2.5 months — low enough that well-presented homes typically attract activity quickly — and the local median sale price registers near $250,000. Homes in this corridor average roughly 35 days on market, indicating steady demand without frenzied bidding. Recent comparable townhouse sales in Gates Commons closed between $230,000 and $245,000 in the last six months, supporting a midpoint valuation near $237,500 ($177/SF) for an updated 2BR/2BA unit like 116 Gates Circle.

Single-family-style townhouses in this pocket perform reliably: buyers prize outdoor space, updated finishes and proximity to downtown Lexington. Rental demand is also strong — estimated rent around $1,500/month yields a gross return near 7.5% — so this property appeals to both owner-occupants and investors. Key timing considerations: limited inventory and steady year-over-year appreciation (approx. 5% one-year, 25% over five years) make now a reasonable time for sellers to list and buyers to move decisively when properties are updated and priced at market. Still, verify system ages (roof, HVAC) and HOA details during due diligence to avoid surprises.

Nearby Schools

River Bluff High School

High

9/10

Lakeside Middle School

Middle

7/10

Lexington Elementary School

Elementary

4/10

Walkability & Recreation

45
Walkability
75
Recreation

Excellent access to outdoor recreation with Old Mill Pond Trail about 1 mile away, neighborhood green spaces for daily walks, and nearby parks and community recreation facilities for biking and outdoor fitness.

Investment Highlights

  • Recently renovated with modern amenities, reducing near-term maintenance costs
  • Located near downtown Lexington with easy access to shopping, dining, and recreation
  • Corner lot with private patio and fenced backyard offers enhanced outdoor living space
  • Proximity to Old Mill Pond Trail (1.0 mi) provides outdoor recreational opportunities
  • 1-car attached garage plus 2-car driveway accommodates multiple vehicles

Key Findings

  • County assessor shows 2024 purchase at $225,000 ($168/SF) — current estimate $237,500 ($177/SF)
  • Assessed value $8,460 (land $1,800, improvements $6,660) — annual taxes $1,525
  • Zoned R-2 allowing single-family and townhouse use
  • Comparable sales within 1 mile in last 6 months range $230K–$245K
  • Average days on market in Lexington: 35 days (balanced market)

Things to Consider

  • Built in 2007 — roof and HVAC system age should be verified
  • Elementary school rated 4/10 — may impact family buyer interest
  • HOA regulations and fees should be confirmed

Opportunity Analysis

Well-maintained townhouse in a desirable Lexington neighborhood with recent renovations and proximity to downtown amenities. Corner lot and private outdoor space enhance appeal. Balanced market conditions suggest stable investment potential.

Potential Use Scenarios

  • Potential primary residence for buyers seeking modern amenities and proximity to downtown
  • Attractive rental property with estimated monthly rent of $1,500, yielding a gross rental yield of approximately 7.5%
  • Corner lot offers potential for enhanced privacy and outdoor enjoyment

Risk Factors

  • 2007 construction — potential for aging systems requiring maintenance
  • Elementary school rating may deter some family buyers
  • HOA regulations and fees may impact ownership costs

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$230K

Midpoint

$238K

High

$245K

$177/SF estimated price per square foot

85% confidence

Sales comparison approach using 3 comparable sales within 1 mile sold in last 6 months. Adjusted for renovation quality, lot size, and bedroom count. Assessed value of $8,460 appears below market.

As of 2026-03-08

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$250,000
Avg Days on Market35 days
Inventory2.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)15,000
Median Income (1 mi)$75,000

Lexington has experienced steady population growth over the past decade, with increasing demand for residential properties. Walkability Rating estimate: 45/100.

Nearby Points of Interest

  • Old Mill Pond Trail (1.0 mi)
  • Lexington Medical Center (2.5 mi)
  • Lexington County Museum (1.2 mi)
  • Lexington Square Shopping Center (0.8 mi)

Close proximity to downtown Lexington offers access to shopping, dining, and recreational amenities. Old Mill Pond Trail provides outdoor activities within a mile.

School District

DistrictLexington County School District One
ElementaryLexington Elementary School (4/10)
MiddleLakeside Middle School (7/10)
HighRiver Bluff High School (9/10)

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built2007
Constructionwood frame
Stories1
Roofasphalt shingle
Heatinggas
Coolingcentral AC
Basementnone
FireplaceYes
Conditionexcellent

Lot & Site

Lot Size0.11 acres (4,791 SF)
Topographylevel
Parkingattached_garage_and_driveway
Parking Spaces3
FrontageFrontage on Gates Circle

Utilities

Watercommunity
Sewercommunity
ElectricDominion Energy
GasDominion Energy

Zoning & Land Use

Zoning CodeR-2
DescriptionMedium-Density Residential
JurisdictionTown of Lexington

Allowed Uses

single familytownhouse
Current Useresidential
Assessor UseResidential - Single Family

Tax & Sale History

Tax Assessment

Total Assessed$8,460
Land$1,800
Improvements$6,660
Annual Tax (2024)$1,525

Sale History

2024-02-23$225,000

$168/SF

Arm's length transaction

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