5035 Erwin Ct · Columbia, SC 29045-0000

$295,212

3 bd · 2.5 ba · 1,962 sqft · SingleFamily · 3 Days on market

Built 2026 Good condition 8,712 sqft lot $44/mo HOA · 2% of rent

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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 +9.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.1/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0

Listing remarks

Up to $10,000 in closing costs with our partner lender for a limited time! Situated on a large homesite, this Kershaw plan offers three bedrooms and two- and one-half bathrooms! A welcoming front porch on the elevation greets you into the home, where luxury vinyl plank flooring flows throughout the main living areas. A powder room is located right off the entry, and a formal office with French doors provides the perfect place to work from home or utilize as a flex space. The great room, eat-in area, and kitchen blend seamlessly with an open-concept layout. The kitchen is equipped with a gas cooktop, stone gray cabinetry with crown and hardware, white tile backsplash, and quartz countertops.

Key facts

• Gas cooktop
• Stone gray cabinetry
• Large homesite

Tags

• LARGE HOMESITE
• WELCOMING FRONT PORCH
• LUXURY VINYL PLANK FLOORING
• OPEN-CONCEPT LAYOUT
• GAS COOKTOP
• STONE GRAY CABINETRY

Property features AI

Finance

• HOA & community: Community association (fees apply); HOA covers common area maintenance, pool, sidewalks, street light maintenance and green areas; Community pool; Sidewalks throughout community; New construction builder warranty

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Public sewer; Thermopane windows
• Home design: Two-story home
• Construction: Stone and vinyl exterior; Slab foundation
• Exterior features: Sprinkler system; Covered front porch; Covered back porch; Paved road access

Interior

• Kitchen: Eat-in kitchen with island; Pantry; Painted cabinets; Quartz countertops; Recessed lighting; Dishwasher; Disposal; Microwave above stove; Gas range (self-cleaning)
• Bedrooms: Master bedroom (second level) with double vanity, separate shower and walk-in closet; Bedroom 2 (second level) with shared bath and walk-in closet; Bedroom 3 (second level) with shared bath and walk-in closet
• Flooring: Luxury vinyl plank flooring in great room and kitchen
• Bathrooms: Two full bathrooms; One half bathroom; Two second full bathrooms
• Heating & cooling: Central cooling with zoned control; Gas heating on first level with zoned control
• Interior features: Smoke detector; Pull-down attic access; Vaulted ceilings in master bedroom; Office; Loft
• Laundry & utility: Laundry on second level in heated space; Tankless hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $295k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (19.2% below list).
• Recommended offer: $239k (19.2% below list) — sets the bar for 1% rule.

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 02 (suburban): math 35% / reading 47% proficiency, ranked #29 of 80 in SC (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Catawba Trail Elementary (math 43% / reading 41%, grade F, #256 of 597 statewide, top 45%, 591 students, 59% FRL); Spring Valley High (math 53% / reading 92%, grade B+, #46 of 196 statewide, top 24%, 2,187 students, 49% FRL) — zoned schools average 54% FRL vs 38% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 41% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Richland 02 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 34 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $238,563 (19.2% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.8%
• Equity multiple: 1.28×
• Total profit: $22,920
• Equity at exit: $132,740

10-year hold

• IRR: 7.9%
• Equity multiple: 2.20×
• Total profit: $99,531
• Equity at exit: $204,568

Cash invested: $82,659 (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 29045-0000

• Active inventory: 34
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,386 medium
• Mortgage (P&I): −$1,548
• Tax est. 1.5%: −$369 /mo · $4,428/yr
• Insurance: −$123
• HOA: −$44
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-199

Break-even live

Break-even rent $2,638

Max offer price $266,345

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-97	+0% $-199	+5% $-302	+10% $-404
Rent	-10% $-388	-5% $-294	+0% $-199	+5% $-105	+10% $-11
Rate	-1.0pp $-51	-0.5pp $-124	base $-199	+0.5pp $-276	+1.0pp $-354

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: $73,803
• Closing costs: $8,856
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Ollivander Ln Elgin, SC	4.0	2.5	2440	$2,400	$0.98	25d	1	0.36mi
225 Bails Rd Elgin, SC	3.0	2.0	2176	$2,350	$1.08	4d	1	1.00mi

HOA detail

• Monthly dues: $44 · $528/yr
• Likely covers: gas

Listing history 5 events

1. 2026-06-18
   status $295,212 Pending 3 DOM
2. 2026-06-18
   days on market $295,212 Active 3 DOM
3. 2026-06-17
   days on market $295,212 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $295,212 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,628
• − Mortgage interest: −$16,536
• − Property taxes: −$4,428
• − Insurance: −$1,476
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − HOA: −$528
• − Depreciation: −$8,588
• Taxable loss: −$7,510
• Est. tax savings @ 24.0%: +$1,802
• After-tax cash flow: $-592/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from some landscaping and exterior painting to further enhance its curb appeal.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint exterior — improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint exterior — improves curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Richland 02
• NCES district ID: 4503390
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $59,684
• Composite: 36.2/100
• National rank: #4730
• State rank: #29 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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-15 Listed $295,212 Consolidated MLS