721 Vernon St · Columbia, SC 29203

$114,900

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 32 Days on market

Built 1950 0.29 ac lot

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Why this score? — see what drove the C- 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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 1950s stone cottage in the established Belmont subdivision! Offering 960 heated sq ft of comfortable livingspace, this classic 3-bedroom, 1-bathroom home sits on a spacious 0.29-acre lot. The inviting interior features a cozy living area thatflows seamlessly into an eat-in kitchen, maximizing the space and perfect for relaxed daily living. The beautiful stone exterior providestimeless mid-century curb appeal. While there are no covered parking spaces, the generous yard offers ample room for parking, gardening, and outdoor entertaining. Zoned for Richland District One schools and conveniently located in Columbia with easy access toI-20 and US-321. Disclaimer: CMLS h

Key facts

• Generous yard
• Spacious lot
• Eat-in kitchen

Tags

• STONE COTTAGE
• EAT-IN KITCHEN
• SPACIOUS LOT
• GENEROUS YARD
• EASY ACCESS TO I-20 AND US-321

Property features AI

Exterior

• Utilities: Public sewer; Public water
• Home design: Single‑story home
• Construction: Crawlspace foundation
• Exterior features: Brick exterior above foundation; Paved road access; Public water

Interior

• Kitchen: Refrigerator; Free‑standing range
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level; Third bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Refrigerator included; Free‑standing range; Utility / laundry room; Central cooling; Electric heating
• Laundry & utility: Utility room for laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.0% in Columbia — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• 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: W.J. Keenan High (math 54% / reading 77%, grade B, #83 of 196 statewide, top 43%, 725 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 66% at this address vs 31% district-wide (+35 pts) — the actual schools serving this property are materially stronger than the Richland 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.5%/yr); 238 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 33% of the median local income ($46k/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 $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $115k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-8,804
• Equity at exit: $17,132

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $3,339
• Equity at exit: $9,934

Cash invested: $32,172 (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 29203

• Home prices YoY: -31.6%
• Rents YoY: 2.5%
• Active inventory: 238
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,281 high
• Mortgage (P&I): −$603
• Tax from tax record: −$199 /mo · $2,383/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $163

Break-even live

Break-even rent $1,075

Max offer price $114,900

Occupancy floor 82%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5779 Ames Rd Columbia, SC	2.0	1.0	895	$1,000	$1.12	14d	1	0.92mi
5779 Ames Rd Unit 13B Columbia, SC	2.0	1.0	895	$1,000	$1.12	11d	1	0.92mi
5867 Ames Rd Columbia, SC	3.0	1.0	802	$1,200	$1.50	14d	1	1.15mi
1407 Jerome Dr Columbia, SC	2.0	1.0	700	$1,125	$1.61	23d	1	1.25mi
2308 Manse St Columbia, SC	3.0	1.0	999	$1,300	$1.30	14d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $114,900 Active 32 DOM
2. 2026-06-17
   days on market $114,900 Active 31 DOM
3. 2026-06-16
   days on market $114,900 Active 30 DOM
4. 2026-06-15
   days on market $114,900 Active 29 DOM
5. 2026-06-14
   days on market $114,900 Active 27 DOM
6. 2026-06-10
   days on market $114,900 Active 24 DOM
7. 2026-06-09
   days on market $114,900 Active 23 DOM
8. 2026-06-08
   pricestatusdays on market $114,900 Active 22 DOM
9. 2026-06-03
   statusdays on market $129,900 Pending 21 DOM
10. 2026-06-03
    days on market $129,900 Active - Contingent 20 DOM
11. 2026-06-01
    days on market $129,900 Active - Contingent 19 DOM
12. 2026-05-31
    days on market $129,900 Active - Contingent 18 DOM
13. 2026-05-20
    historical Active - Contingent
14. 2026-05-13
    listed $129,900 Active
15. 2006-02-28
    soldstatus $65,000
16. 1988-07-01
    soldstatus $39,900

ⓘ 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: $2,383 · $199/mo
• Projected year-2 tax: $2,383 · $199/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,378
• − Mortgage interest: −$6,436
• − Property taxes: −$2,383
• − Insurance: −$574
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$3,343
• Taxable income: $181
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $1,917/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: Richland 01
• NCES district ID: 4503360
• Math proficiency: 26% ▼ -7.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $38,931
• Composite: 25.94/100
• National rank: #7335
• State rank: #54 of 80 in SC

Livability — Columbia

• Score: 78/100
• State rank: #18
• US rank: #2436

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, SC
• County: Richland County · 389,530 people
• City population: 335,994
• Metro: Columbia, SC
• Population (ZIP): 40,653
• Household income: $46,054
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1980.0

Population outlook (Richland County) Hauer SSP2

• Today (2025): 459,667 people
• By 2030: 487,524 · +6.1%
• By 2040: 542,035 · +17.9%
• By 2050: 595,371 · +29.5%
• By 2075: 732,998 · +59.5%
• By 2100: 820,415 · +78.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (80%)
• Race & ethnicity: Black 80% White 13% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Richland

• 2024 margin: Solid D (+34.6) · D 66.4% · R 31.8% · Other 1.8%
• 2008→2024 swing: +5.7pp toward D · 2008: 28.9pp · 2024: 34.6pp
• All cycles: 2024: D+34.6 2020: D+38.3 2016: D+32.9 2012: D+33.3 2008: D+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.52%
• Current HPI: 168.2114
• Rent YoY: ▲ 2.50%
• 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

Price history

+225.6% since first listed

4 events — show timeline

• 2026-05-20 Contingent — Consolidated MLS
• 2026-05-13 Listed $129,900 Consolidated MLS
• 2006-02-28 Sold (Public Records) $65,000 Public Records
• 1988-07-01 Sold (Public Records) $39,900 Public Records

Property tax history

+7.9%/yr

Latest (2025): $2,383 · +2.1% YoY. Source: county tax records.