2309 Ithica St · Columbia, SC 29204

$224,900

3 bd · 2.0 ba · 1,543 sqft · SingleFamily public records · 23 Days on market

Built 2006 5,662 sqft lot

---

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).

• Cash flow +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Rent growth +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FOR COMP PURPOSES ONLY

Key facts

• Added privacy
• Corner home
• Shady front porch

Tags

• CORNER HOME
• SHADY FRONT PORCH
• REAR PATIO
• ADDED PRIVACY
• OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Slab foundation
• Exterior features: Vinyl exterior; Paved road access; Lot approximately 0.13 acres

Interior

• Bedrooms: Master bedroom on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heat (electric); Central air conditioning
• Interior features: Central heating and central cooling

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $27 ($328/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (12.9% below list).
• Recommended offer: $196k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in Columbia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Carver-Lyon Elementary (math 27% / reading 27%, grade F, #421 of 597 statewide, top 73%, 387 students, 100% FRL); W. A. Perry Middle (math 8% / reading 17%, grade F, #216 of 229 statewide, top 96%, 309 students, 100% FRL); C. A. Johnson High (math 34% / reading 84%, grade C+, #110 of 196 statewide, top 58%, 364 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: Rents rising fast (+4.7%/yr); 115 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• At $1,958/mo this rent would consume 47% of the median local household income ($50k/yr) (locally 1045% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 23 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $195,799 (12.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.73% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.50×
• Total profit: $-31,225
• Equity at exit: $33,533

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-10,175
• Equity at exit: $19,445

Cash invested: $62,972 (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 29204

• Home prices YoY: -34.9%
• Rents YoY: 4.7%
• Active inventory: 115
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$246 /mo · $2,956/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $27

Break-even live

Break-even rent $1,923

Max offer price $224,900

Occupancy floor 94%

Sensitivity live

Price	-10% $155	-5% $91	+0% $27	+5% $-36	+10% $-100
Rent	-10% $-127	-5% $-50	+0% $27	+5% $105	+10% $182
Rate	-1.0pp $141	-0.5pp $85	base $27	+0.5pp $-31	+1.0pp $-90

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3419 Piedmont Ave Columbia, SC	3.0	1.0	1100	$1,195	$1.09	25d	1	0.68mi
1318 House St Columbia, SC	4.0	4.0	1500	$2,900	$1.93	25d	2	0.85mi
1840 Hampton St Unit 3 Columbia, SC	4.0	2.0	1514	$1,895	$1.25	25d	1	0.92mi
1840 Hampton St Unit 1 Columbia, SC	4.0	2.0	1056	$1,795	$1.70	25d	1	0.92mi
3500 Grand St Columbia, SC	3.0	2.0	1300	$2,000	$1.54	16d	1	0.96mi
1121 Zeigler St Unit B Columbia, SC	3.0	2.5	1550	$3,300	$2.13	23d	1	1.07mi
27 Bethune Ct Columbia, SC	3.0	2.0	1523	$1,625	$1.07	25d	1	1.20mi
1018 Laurens St Columbia, SC	3.0	1.0	1500	$2,700	$1.80	25d	1	1.22mi
2928 English Ave Unit NA Columbia, SC	3.0	1.0	1320	$1,590	$1.20	13d	1	1.24mi
2229 Greene St Columbia, SC	3.0	2.0	1050	$1,695	$1.61	21d	1	1.32mi
2241 Hurst St Columbia, SC	4.0	2.0	1980	$1,595	$0.81	25d	1	1.33mi
2617 River Dr Columbia, SC	2.0–3.0	1.0–2.0	1038	$993	$0.96	16d	2	1.40mi
3040 Girardeau Ave Columbia, SC	3.0	1.5	1400	$2,150	$1.54	25d	1	1.40mi
3040 Girardeau Ave Columbia, SC	3.0	1.5	1400	$2,150	$1.54	16d	1	1.40mi

Listing history 14 events

1. 2026-06-21
   days on market $224,900 Active 23 DOM
2. 2026-06-18
   days on market $224,900 Active 20 DOM
3. 2026-06-17
   days on market $224,900 Active 19 DOM
4. 2026-06-16
   days on market $224,900 Active 18 DOM
5. 2026-06-15
   days on market $224,900 Active 17 DOM
6. 2026-06-14
   days on market $224,900 Active 15 DOM
7. 2026-06-10
   days on market $224,900 Active 12 DOM
8. 2026-06-09
   days on market $224,900 Active 11 DOM
9. 2026-06-08
   days on market $224,900 Active 10 DOM
10. 2026-06-07
    days on market $224,900 Active 9 DOM
11. 2026-06-03
    days on market $224,900 Active 5 DOM
12. 2026-06-03
    days on market $224,900 Active 4 DOM
13. 2026-06-01
    days on market $224,900 Active 3 DOM
14. 2026-05-31
    days on market $224,900 Active 2 DOM

ⓘ 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: $2,956 · $246/mo
• Projected year-2 tax: $2,956 · $246/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $23,496
• − Mortgage interest: −$12,598
• − Property taxes: −$2,956
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − Depreciation: −$6,543
• Taxable loss: −$3,484
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $1,165/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): 18,159
• Household income: $50,189
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1045.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 48% White 44% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 2% Tagalog/Filipino 1% Arabic 1%

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: ▼ -104.76%
• Current HPI: 195.2246
• Rent YoY: ▲ 4.73%
• 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

+107.4% since first listed

6 events — show timeline

• 2026-05-29 Listed $224,900 Consolidated MLS
• 2016-07-05 Sold (Public Records) $360,054 Public Records
• 2016-03-14 Sold (Public Records) $85,000 Public Records
• 2016-03-09 Sold (MLS) $85,000 Charleston Trident MLS
• 2016-03-01 Listed $85,000 Charleston Trident MLS
• 2006-07-05 Sold (Public Records) $108,463 Public Records

Property tax history

+12.4%/yr

Latest (2025): $2,956 · +2.1% YoY. Source: county tax records.