2112 Academy St · Columbia, SC 29203

$124,000

3 bd · 1.0 ba · 944 sqft · SingleFamily public records · 59 Days on market

Built 1930

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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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.4/10.0
• 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

Completely renovated and move-in ready, this charming all-brick bungalow is the perfect place to call home or a fantastic investment opportunity! Featuring 3 bedrooms, 1 bath, and just under 1,000 square feet, this home blends classic character with modern updates, including all new windows, a new roof, and new window units installed in 2025. Start your mornings on the inviting front porch, perfect for enjoying a cup of coffee. Inside, you’ll find a spacious living room with durable LVP flooring, abundant natural light, and a welcoming archway that leads into the beautifully updated eat-in kitchen. The kitchen shines with granite countertops, stainless steel appliances, ample cabinetr

Key facts

• Granite countertops
• All brick bungalow
• New roof

Tags

• ALL BRICK BUNGALOW
• NEW WINDOWS
• NEW ROOF
• UPDATED EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story property
• Construction: Brick exterior above foundation; Crawlspace foundation
• Exterior features: Front porch (covered and uncovered areas); Rear chain-link fencing

Interior

• Kitchen: Eat-in kitchen with granite countertops and luxury vinyl plank flooring; Free-standing smooth-surface range; Dishwasher
• Bedrooms: Master bedroom on main level with private closet, ceiling fan, carpeted floors, tub/shower (shared bath); Second bedroom on main level with private closet, ceiling fan, carpeted floors, tub/shower (shared bath); Third bedroom on main level with ceiling fan and carpeted floors, tub/shower (shared bath)
• Flooring: Carpet in bedrooms; Luxury vinyl plank in living room and kitchen
• Bathrooms: One full bathroom (main)
• Heating & cooling: Central heating; Window air conditioning units
• Interior features: Ceiling fan in living areas and bedrooms; Living room with luxury vinyl plank flooring
• Laundry & utility: Main-level laundry in a closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/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 $117k (5.9% below list).
• Recommended offer: $117k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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: Watkins-Nance Elementary (math 17% / reading 27%, grade F, #475 of 597 statewide, top 81%, 383 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 (+2.5%/yr); 238 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 30% 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 $857 of loan paydown is wiped out by about $4k 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 59 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.
• Current owner paid $58k; list at $124k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $116,635 (5.9% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 0.94% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.9

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: -8.6%
• Equity multiple: 0.69×
• Total profit: $-10,933
• Equity at exit: $18,489

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $551
• Equity at exit: $10,721

Cash invested: $34,720 (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 29203

• Home prices YoY: -31.6%
• Rents YoY: 2.5%
• Active inventory: 238
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$650
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $154

Break-even live

Break-even rent $972

Max offer price $124,000

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 Grove St Columbia, SC	2.0	1.0	800	$850	$1.06	23d	1	0.06mi
2710 Howell Ct Columbia, SC	2.0	1.0	700	$825	$1.18	14d	1	0.23mi
2719 Howell Ct Columbia, SC	2.0	1.0	675	$850	$1.26	11d	1	0.25mi
3415 Piedmont Ave Unit A Columbia, SC	2.0	1.0	650	$1,000	$1.54	23d	1	0.34mi
3419 Piedmont Ave Columbia, SC	3.0	1.0	1100	$1,195	$1.09	23d	1	0.34mi
3700 West Ave Columbia, SC	1.0–2.0	1.0	750	$850	$1.13	14d	1	0.36mi
3540 White St Columbia, SC	2.0	1.0	725	$1,300	$1.79	23d	1	0.38mi
3606 Medical Dr Unit B Columbia, SC	2.0	1.5	864	$1,100	$1.27	23d	1	0.54mi
2308 Manse St Columbia, SC	3.0	1.0	999	$1,300	$1.30	14d	1	0.55mi
1319 Hendrix St Columbia, SC	2.0	1.0	900	$1,050	$1.17	23d	1	0.77mi
2225 Waites Rd Unit 2225A Columbia, SC	2.0	1.0	714	$1,100	$1.54	23d	1	0.84mi
1612 Ogden St Columbia, SC	2.0	1.0	680	$1,100	$1.62	14d	2	0.97mi
2511 Chestnut St Columbia, SC	2.0	1.0	928	$1,300	$1.40	14d	1	0.99mi
2413 Laurel St Unit C Columbia, SC	2.0	1.0	800	$900	$1.12	23d	1	1.13mi
2617 River Dr Columbia, SC	2.0–3.0	1.0–2.0	1038	$993	$0.96	14d	2	1.15mi
3015 English Ave Columbia, SC	2.0	1.0	981	$1,250	$1.27	11d	1	1.18mi
2508 Laurel St Unit B Columbia, SC	2.0	1.0	750	$950	$1.27	23d	1	1.19mi
1930 Marion St Columbia, SC	2.0	1.0	612	$1,500	$2.45	11d	31	1.27mi
4030 Gonzales Ave Columbia, SC	2.0	2.0	840	$1,375	$1.64	23d	1	1.27mi
1003 Elmwood Ave Columbia, SC	1.0–2.0	1.0–2.0	937	$1,649	$1.76	11d	4	1.45mi
1840 Hampton St Unit 1 Columbia, SC	4.0	2.0	1056	$1,795	$1.70	23d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $124,000 Active 59 DOM
2. 2026-06-17
   days on market $124,000 Active 58 DOM
3. 2026-06-16
   days on market $124,000 Active 57 DOM
4. 2026-06-15
   days on market $124,000 Active 56 DOM
5. 2026-06-14
   days on market $124,000 Active 54 DOM
6. 2026-06-10
   days on market $124,000 Active 51 DOM
7. 2026-06-09
   days on market $124,000 Active 50 DOM
8. 2026-06-08
   days on market $124,000 Active 49 DOM
9. 2026-06-07
   days on market $124,000 Active 48 DOM
10. 2026-06-03
    days on market $124,000 Active 44 DOM
11. 2026-06-03
    days on market $124,000 Active 43 DOM
12. 2026-06-01
    days on market $124,000 Active 42 DOM
13. 2026-05-31
    days on market $124,000 Active 41 DOM
14. 2026-05-19
    price $124,000
15. 2026-04-20
    listed $130,000 Active
16. 2026-03-20
    listed $130,000 Active
17. 2025-04-02
    soldstatus $58,000
18. 2025-03-07
    price $69,000
19. 2025-03-06
    status Pending
20. 2025-02-28
    status Active
21. 2025-02-19
    status Pending
22. 2025-02-15
    price $69,500
23. 2025-02-06
    listed $75,000 Active
24. 2025-01-27
    soldstatus $27,500

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $791 · $66/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 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $13,996
• − Mortgage interest: −$6,946
• − Property taxes: −$791
• − Insurance: −$620
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$3,607
• Taxable loss: −$207
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $1,893/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

+350.9% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $124,000 Consolidated MLS
• 2026-04-20 Listed $130,000 Consolidated MLS
• 2026-03-20 Listed $130,000 Consolidated MLS
• 2025-04-02 Sold (Public Records) $58,000 Public Records
• 2025-03-07 Price Changed $69,000 Consolidated MLS
• 2025-03-06 Pending — Consolidated MLS
• 2025-02-28 Relisted — Consolidated MLS
• 2025-02-19 Pending — Consolidated MLS
• 2025-02-15 Price Changed $69,500 Consolidated MLS
• 2025-02-06 Listed $75,000 Consolidated MLS
• 2025-01-27 Sold (Public Records) $27,500 Public Records

Property tax history

-1.8%/yr

Latest (2025): $791 · +2.1% YoY. Source: county tax records.