2002 Greene St · Columbia, SC 29205

$194,000

2 bd · 2.0 ba · 61,005 sqft · Condo · 1 Days on market

Built 1984

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Location, location, location! Secure this beautifully updated 2BR/2BA condo situated in Columbia & acirc; & euro; & trade; s most iconic neighborhood. With 960 sqft of freshly renovated space, this unit is an ideal match for those looking to be near the University of South Carolina campus without sacrificing the charm of Five Points. The unit has been completely refreshed with new flooring and a clean coat of paint, making it a standout in the local market. Enjoy being just blocks away from the university, while having immediate access to the boutiques, grocery stores, and cafes that make Five Points unique.

Key facts

• Clean coat of paint
• Updated condo
• New flooring

Tags

• UPDATED CONDO
• FRESHLY RENOVATED SPACE
• NEW FLOORING
• CLEAN COAT OF PAINT
• BLOCKS AWAY FROM UNIVERSITY
• ACCESS TO BOUTIQUES

Property features AI

Finance

• Other: Living area listed as 61,005 (value provided by listing data)

Exterior

• Home design: Built in 1984
• Construction: Built in 1984
• Exterior features: Located in the Midtown - Downtown subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $194k.

Deal economics

• At list price, monthly cash flow is $-25k ($-300k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (13.5% below list).
• Recommended offer: $168k (13.5% below list) — sets the bar for 1% rule.
• Cap rate -148.4% vs local median 5.0% in Columbia — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: schools D+, 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.
• Market conditions: Rents rising fast (+7.0%/yr); 145 active listings in the ZIP; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 31% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 6y 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

• Watch-outs: HOA is 1490% of rent.

Recommended offer $167,764 (13.5% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: -148.44%
• Cash-on-cash: -552.60%
• DSCR: -23.59
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.95% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: -28.50×
• Total profit: $-1,602,292
• Equity at exit: $28,926

10-year hold

• IRR: —
• Equity multiple: -60.73×
• Total profit: $-3,353,343
• Equity at exit: $16,774

Cash invested: $54,320 (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 29205

• Rents YoY: 7.0%
• Active inventory: 145
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,678 medium
• Mortgage (P&I): −$1,017
• Tax est. 1.5%: −$242 /mo · $2,910/yr
• Insurance: −$81
• HOA est. from 1 same-building comp: −$24,999
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-25,014

Break-even live

Break-even rent $33,341

Max offer price —

Occupancy floor —

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-13
   status Under Contract
2. 2026-05-12
   listed $194,000 Active
3. 2026-04-21
   listed $1,250
4. 2026-04-21
   historical $1,100
5. 2025-11-14
   listed $1,100
6. 2025-05-04
   historical $1,400
7. 2025-05-02
   listed $1,400
8. 2021-12-15
   historical
9. 2021-12-07
   status Active
10. 2021-12-07
    historical
11. 2021-11-15
    listed $530,000 Active
12. 2020-06-03
    historical
13. 2020-05-20
    price $118,000
14. 2020-03-25
    price $123,900
15. 2020-03-17
    listed $124,900 Active

ⓘ 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: $20,132
• − Mortgage interest: −$10,867
• − Property taxes: −$2,910
• − Insurance: −$970
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − HOA: −$299,988
• − Depreciation: −$5,644
• Taxable loss: −$303,468
• Est. tax savings @ 24.0%: +$72,832
• After-tax cash flow: $-227,340/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): 22,223
• Household income: $64,231
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 1372.0

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 White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Serbian 6% Slovak 4% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% German/W. Germanic 1% Chinese 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: ▼ -457.47%
• Current HPI: 230.5538
• Rent YoY: ▲ 6.95%
• 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

+55.3% since first listed

15 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $194,000 FSBO.com
• 2026-04-21 Listed for Rent $1,250 SHOWMOJO
• 2026-04-21 Rental Removed $1,100 SHOWMOJO
• 2025-11-14 Listed for Rent $1,100 SHOWMOJO
• 2025-05-04 Rental Removed $1,400 RENTALBEAST
• 2025-05-02 Listed for Rent $1,400 RENTALBEAST
• 2021-12-15 Delisted — Consolidated MLS
• 2021-12-07 Relisted — Consolidated MLS
• 2021-12-07 Delisted — Consolidated MLS
• 2021-11-15 Listed $530,000 Consolidated MLS
• 2020-06-03 Delisted — Consolidated MLS
• 2020-05-20 Price Changed $118,000 Consolidated MLS
• 2020-03-25 Price Changed $123,900 Consolidated MLS
• 2020-03-17 Listed $124,900 Consolidated MLS