111 Villa Ct · Cayce, SC 29170

$235,000

4 bd · 3.0 ba · 2,350 sqft · MultiFamily public records · 16 Days on market

Built 1982 7,840 sqft lot

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.2/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 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: 2 units. confirmed

Listing remarks

Great Investment Opportunity!!! Units are fully leased. Excellent location with convenience to major highways, airport, shopping, restaurants, etc. Zoned for Lexington District 1 schools. Property being sold AS-IS. There are 3 additional buildings for sale to further elevate this investment opportunity. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Fully leased
• Excellent location
• 7,840 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• FULLY LEASED
• EXCELLENT LOCATION
• THREE ADDITIONAL BUILDINGS

Property features AI

Finance

• Other: Pest control paid by tenant
• Financial info: Unit 1 rent: $735; Unit 2 rent: $750

Exterior

• Parking: Assigned parking with 4 spaces
• Utilities: Public water (owner listed as water provider); Public sewer; Gas paid by tenant; Electricity paid by tenant; Trash service paid by tenant; Cable paid by tenant
• Home design: Two-story property
• Construction: Slab foundation
• Exterior features: Vinyl exterior; Lawn maintenance handled by tenant; Paved road access

Interior

• Bedrooms: Unit 1 has 3 bedrooms; Unit 2 has 3 bedrooms
• Bathrooms: Building has a total of 4 full bathrooms; Unit 1 has 2 full bathrooms; Unit 2 has 2 full bathrooms; No half baths reported
• Heating & cooling: Central heating (paid by tenant); Central cooling
• Interior features: Two-unit building; Total heated area is 2,350

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive. Per door: $303/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#55 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, commute F.
• Lexington 01 (suburban): math 42% / reading 53% proficiency, ranked #11 of 80 in SC (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: White Knoll Elementary (math 32% / reading 36%, grade F, #359 of 597 statewide, top 60%, 673 students, 41% FRL); White Knoll High (math 47% / reading 85%, grade B, #81 of 196 statewide, top 42%, 2,204 students, 45% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 187 active listings in the ZIP; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $66k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $121k; list at $235k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% 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 $231,475 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 1.18% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.06%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $5,025
• Equity at exit: $35,039

10-year hold

• IRR: 13.0%
• Equity multiple: 2.11×
• Total profit: $73,080
• Equity at exit: $20,319

Cash invested: $65,800 (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 29170

• Home prices YoY: -16.9%
• Rents YoY: 4.6%
• Active inventory: 187
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $2,778 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $606

Break-even live

Break-even rent $2,010

Max offer price $235,000

Occupancy floor 73%

Sensitivity live

Price	-10% $740	-5% $673	+0% $606	+5% $540	+10% $473
Rent	-10% $387	-5% $497	+0% $606	+5% $716	+10% $826
Rate	-1.0pp $725	-0.5pp $666	base $606	+0.5pp $546	+1.0pp $484

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,778
Total (2 units)			$2,778

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   status Pending
2. 2026-05-10
   price $235,000
3. 2026-05-02
   listed $215,000 Active
4. 2021-05-05
   soldstatus $121,000
5. 2020-01-09
   historical
6. 2019-12-27
   listed $115,500 Active
7. 1987-08-01
   soldstatus $92,616

ⓘ 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: $3,094 · $258/mo
• Projected year-2 tax: $3,094 · $258/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $33,336
• − Mortgage interest: −$13,164
• − Property taxes: −$3,094
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − Depreciation: −$6,836
• Taxable income: $3,733
• Est. tax owed @ 24.0%: −$896
• After-tax cash flow: $6,382/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: Lexington 01
• NCES district ID: 4502700
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $61,298
• Composite: 41.75/100
• National rank: #3399
• State rank: #11 of 80 in SC

Livability — Cayce

• Score: 71/100
• State rank: #55
• US rank: #7173

Category grades

Amenities C+ Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• City population: 12,837
• Metro: Columbia, SC
• Population (ZIP): 21,247
• Household income: $74,902
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 147.0

Population outlook (Lexington County) Hauer SSP2

• Today (2025): 322,999 people
• By 2030: 342,356 · +6.0%
• By 2040: 377,715 · +16.9%
• By 2050: 406,984 · +26.0%
• By 2075: 465,447 · +44.1%
• By 2100: 485,674 · +50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 17% Hispanic / Latino 10% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, Jamaica, Guatemala
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 2%

Political lean MEDSL · Lexington

• 2024 margin: Solid R (+33.5) · D 32.5% · R 66.0% · Other 1.4%
• 2008→2024 swing: +4.6pp toward D · 2008: -38.0pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.1 2016: R+36.7 2012: R+37.8 2008: R+38.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.72%
• Current HPI: 259.713
• Rent YoY: ▲ 4.57%
• 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

+153.7% since first listed

7 events — show timeline

• 2026-05-18 Pending — Consolidated MLS
• 2026-05-10 Price Changed $235,000 Consolidated MLS
• 2026-05-02 Listed $215,000 Consolidated MLS
• 2021-05-05 Sold (Public Records) $121,000 Public Records
• 2020-01-09 Delisted — Consolidated MLS
• 2019-12-27 Listed $115,500 Consolidated MLS
• 1987-08-01 Sold (Public Records) $92,616 Public Records

Property tax history

+2.2%/yr

Latest (2024): $3,094 · +0.9% YoY. Source: county tax records.