228 Kingfield Dr

Columbia, SC 29061

$274,675D-

4 bd · 2.5 ba · 1,939 sqft · Built 2026 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,331/mo
• Mortgage (P&I): −$1,440
• Tax + insurance: −$458
• HOA: −$0
• Vac / Maint / Mgmt: −$490
• Net cashflow: $-56/mo
• Annual: $-676/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $76,909

Investor read

• This is a 4-bed/2.5-bath single-family listed at $275k. Condition is rated good.
• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (15.1% below list).
• It's been on market 35 days — a 3% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $233k (15.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#18 in SC, #2,436 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Richland 01 (urban): math 26% / reading 36% proficiency, ranked #54 of 80 in SC (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Horrell Hill Elementary (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 562 students, 100% FRL); Southeast Middle (math 7% / reading 19%, grade F, #210 of 229 statewide, top 93%, 493 students, 100% FRL); Lower Richland High (math 5% / reading 64%, grade F, #185 of 196 statewide, top 94%, 1,244 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 335 active listings in the ZIP; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.0% vs local median 5.0% in Columbia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,331/mo this rent would consume 46% of the median local household income ($60k/yr) (locally 236% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 35 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is F 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?
• 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?
• 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.
• 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.