1108 Tree St · Columbia, SC 29205

$120,000

2 bd · 2.0 ba · 1,610 sqft · MultiFamily public records · 20 Days on market

Built 1940 5,227 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This 1940s Bungalow converted to a duplex many, many years ago has a lot of potential. It's located in a fast growing area of Columbia. Unit #1 is vacant and has been renovated. Unit #2 has a long time tenant in place (month to month). With some TLC this could be a great investment. The house can be updated as a rental or rehabbed as a single-family house. One block from Gervais and three blocks from the Millwood/Gervais intersection. Best option would be to leave it as a rental now and renovate as the neighborhood continues to improve and update. Less than 1.5 mile from USC campus. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Renovated unit
• 5,227 sq ft lot
• Parking

Tags

• RENOVATED UNIT
• ONE BLOCK FROM GERVAIS

Property features AI

Finance

• Other: Pest control provided by owner
• Financial info: Unit 2 currently rented for $500

Exterior

• Parking: One parking space; Additional parking noted as 'Other (See Remarks)'
• Utilities: Public sewer; Gas paid by tenant; Electricity paid by tenant; Sewer paid by tenant; Trash service paid by owner; Cable paid by tenant
• Home design: Single-story building; Two-unit property
• Construction: Crawlspace foundation
• Exterior features: Block and brick exterior; Owner is responsible for lawn maintenance; Paved road access; Public water

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom
• Bathrooms: Two full bathrooms total (each unit has 1 full bath)
• Heating & cooling: Window air conditioning units; Heating provided (see remarks); heating cost paid by owner
• Interior features: Two separate units (duplex); Total heated area approximately 1,610

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.

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); Crayton Middle (math 48% / reading 64%, grade B-, #23 of 229 statewide, top 10%, 905 students, 100% FRL); A. C. Flora High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 1,352 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 50% at this address vs 31% district-wide (+19 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 fast (+7.0%/yr); 150 active listings in the ZIP; 10 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.
• Current owner paid $58k; list at $120k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 2.24% ✓
• Cap rate: 19.19%
• Cash-on-cash: 46.07%
• DSCR: 3.05
• GRM: 3.7

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: 47.7%
• Equity multiple: 3.20×
• Total profit: $73,861
• Equity at exit: $17,892

10-year hold

• IRR: 55.1%
• Equity multiple: 7.54×
• Total profit: $219,742
• Equity at exit: $10,375

Cash invested: $33,600 (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: 150
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,689 high
• Mortgage (P&I): −$629
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $1,290

Break-even live

Break-even rent $1,056

Max offer price $120,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,358	-5% $1,324	+0% $1,290	+5% $1,256	+10% $1,222
Rent	-10% $1,077	-5% $1,184	+0% $1,290	+5% $1,396	+10% $1,502
Rate	-1.0pp $1,350	-0.5pp $1,320	base $1,290	+0.5pp $1,259	+1.0pp $1,227

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,690
Total (2 units)			$2,689

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Zeigler St Unit B Columbia, SC	3.0	2.5	1550	$3,300	$2.13	23d	1	0.08mi
2229 Greene St Columbia, SC	3.0	2.0	1050	$1,695	$1.61	20d	1	0.53mi
1018 Laurens St Columbia, SC	3.0	1.0	1500	$2,700	$1.80	25d	1	0.76mi
3040 Girardeau Ave Columbia, SC	3.0	1.5	1400	$2,150	$1.54	16d	1	0.87mi
3040 Girardeau Ave Columbia, SC	3.0	1.5	1400	$2,150	$1.54	25d	1	0.87mi
614 Capitol Pl Columbia, SC	2.0	1.0	1200	$1,895	$1.58	16d	1	0.99mi
3125 Heyward St Unit A Columbia, SC	3.0	1.0	1200	$2,400	$2.00	25d	1	1.35mi
3125 Heyward St Unit B Columbia, SC	2.0	1.0	1100	$1,600	$1.45	25d	1	1.35mi
318 S Woodrow St Columbia, SC	2.0	1.0	1103	$1,700	$1.54	25d	1	1.38mi
2050 N Beltline Blvd Columbia, SC	1.0–2.0	1.0–1.5	831	$1,042	$1.25	16d	6	1.39mi

Listing history 14 events

1. 2026-06-21
   days on market $120,000 Active 20 DOM
2. 2026-06-18
   days on market $120,000 Active 17 DOM
3. 2026-06-17
   days on market $120,000 Active 16 DOM
4. 2026-06-16
   days on market $120,000 Active 15 DOM
5. 2026-06-15
   days on market $120,000 Active 14 DOM
6. 2026-06-14
   days on market $120,000 Active 12 DOM
7. 2026-06-10
   statusdays on market $120,000 Active 9 DOM
8. 2026-05-18
   listed $120,000 Active
9. 2021-03-08
   soldstatus $58,000
10. 2021-01-26
    historical
11. 2021-01-22
    listed $65,000 Active
12. 2021-01-19
    soldstatus $35,000
13. 2004-11-18
    soldstatus $21,000
14. 2002-04-17
    soldstatus $20,000

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $1,862 · $155/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $32,268
• − Mortgage interest: −$6,722
• − Property taxes: −$1,862
• − Insurance: −$600
• − Repairs & maintenance: −$2,581
• − Management: −$2,581
• − Depreciation: −$3,491
• Taxable income: $14,430
• Est. tax owed @ 24.0%: −$3,463
• After-tax cash flow: $12,015/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

+500.0% since first listed

7 events — show timeline

• 2026-05-18 Listed $120,000 Consolidated MLS
• 2021-03-08 Sold (Public Records) $58,000 Public Records
• 2021-01-26 Delisted — Consolidated MLS
• 2021-01-22 Listed $65,000 Consolidated MLS
• 2021-01-19 Sold (Public Records) $35,000 Public Records
• 2004-11-18 Sold (Public Records) $21,000 Public Records
• 2002-04-17 Sold (Public Records) $20,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,862 · +2.1% YoY. Source: county tax records.