521 Wallace Way · Oak Grove, SC 29073

$220,000

2 bd · 2.0 ba · 1,166 sqft · SingleFamily public records · 53 Days on market

Built 1987 3,484 sqft lot $22/mo HOA · 1% 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 +15.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• 1% rule +3.1/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in a cul-de-sac in a quiet neighborhood, this house features two primary bedrooms both with their own full bathrooms making it great for an investment property or perfect for a first-time home buyer. Planters Station has a community pool and is tucked away but close to everything. Less than 15 minutes to the interstate, Lexington Medical Center, and downtown Columbia. New roof, new HVAC, new windows with lifetime transferrable warranty, new paint, new dishwasher, newly laundered carpet, updated kitchen and a fully fenced backyard. The list of updates goes on and on! Outside you will find manicured landscaping, a beautiful deck, and a workshop in the back yard complete with electrici

Key facts

• Community pool
• New hvac
• New paint

Tags

• CUL-DE-SAC
• COMMUNITY POOL
• NEW ROOF
• NEW HVAC
• NEW WINDOWS
• NEW PAINT

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Two-story house
• Construction: Crawlspace foundation
• Exterior features: Fiber cement (Hardy Plank) and wood fiber/Masonite siding; Full fencing; Paved road access; Property located in a cul-de-sac

Interior

• Kitchen: Granite countertops with tile backsplash; Bar counter; Painted cabinets; Tile floor; Microwave (countertop); Refrigerator; Icemaker; Continuous clean range; Dishwasher
• Bedrooms: Master bedroom with double vanity, his-and-hers closet, private bath, ceiling fan, carpet and tile floors (located on second level); Second bedroom with private bath, walk-in closet, tub/shower, ceiling fan and carpet (located on second level)
• Flooring: Carpet and tile in bedrooms; Laminate flooring in formal living and dining rooms; Tile in kitchen
• Bathrooms: Two full bathrooms; One half bathroom; Two second full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Fireplace in formal living room; Molding in living and dining areas; Recessed lighting
• Laundry & utility: Washer and dryer included; Laundry closet on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $77 ($921/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 $177k (19.5% below list).
• Recommended offer: $177k (19.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#114 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D, amenities F, commute F.
• Lexington 02 (suburban): math 30% / reading 38% proficiency, ranked #45 of 80 in SC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northside Middle (math 27% / reading 35%, grade F, #128 of 229 statewide, top 58%, 555 students, 91% FRL); Brookland-Cayce High (math 32% / reading 77%, grade C-, #130 of 196 statewide, top 69%, 1,171 students, 100% FRL) — zoned schools average 95% FRL vs 59% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 572 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $116k; list at $220k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% 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 $177,140 (19.5% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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 D 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: 6.71%
• Cash-on-cash: 1.50%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-30,425
• Equity at exit: $32,803

10-year hold

• IRR: -4.6%
• Equity multiple: 0.69×
• Total profit: $-18,813
• Equity at exit: $19,022

Cash invested: $61,600 (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 29073

• Home prices YoY: -19.1%
• Rents YoY: 3.2%
• Active inventory: 572
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,771 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$92
• HOA: −$22
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $77

Break-even live

Break-even rent $1,674

Max offer price $220,000

Occupancy floor 91%

Sensitivity live

Price	-10% $201	-5% $139	+0% $77	+5% $15	+10% $-48
Rent	-10% $-63	-5% $7	+0% $77	+5% $147	+10% $217
Rate	-1.0pp $188	-0.5pp $133	base $77	+0.5pp $20	+1.0pp $-38

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Chisolm Ct Lexington, SC	3.0	2.0	1305	$1,800	$1.38	25d	1	0.18mi
3220 Woodsen Cir West Columbia, SC	3.0	2.0	1475	$1,800	$1.22	25d	1	0.48mi
604 Melton St West Columbia, SC	1.0	1.0	1000	$1,475	$1.48	4d	1	0.96mi
105 Landford Ct Lexington, SC	3.0	2.0	1260	$1,450	$1.15	5d	1	1.16mi
200 # W Unit Woodberry Rd unit West Columbia, SC	2.0	2.0	1000	$1,300	$1.30	4d	1	1.26mi
2720 Sunset Blvd West Columbia, SC	1.0–3.0	1.0–2.0	1187	$2,132	$1.80	21d	35	1.44mi

HOA detail

• Monthly dues: $22 · $264/yr
• Likely covers: electriclandscapingpool

Listing history 23 events

1. 2026-06-21
   days on market $220,000 Active 53 DOM
2. 2026-06-18
   price $220,000 Active 50 DOM
3. 2026-06-18
   days on market $225,000 Active 50 DOM
4. 2026-06-17
   days on market $225,000 Active 49 DOM
5. 2026-06-16
   days on market $225,000 Active 48 DOM
6. 2026-06-15
   days on market $225,000 Active 47 DOM
7. 2026-06-14
   days on market $225,000 Active 45 DOM
8. 2026-06-13
   days on market $225,000 Active 44 DOM
9. 2026-06-10
   days on market $225,000 Active 42 DOM
10. 2026-06-09
    days on market $225,000 Active 41 DOM
11. 2026-06-08
    days on market $225,000 Active 40 DOM
12. 2026-06-07
    days on market $225,000 Active 39 DOM
13. 2026-06-05
    days on market $225,000 Active 36 DOM
14. 2026-06-03
    days on market $225,000 Active 35 DOM
15. 2026-06-03
    days on market $225,000 Active 34 DOM
16. 2026-06-02
    days on market $225,000 Active 33 DOM
17. 2026-05-31
    days on market $225,000 Active 32 DOM
18. 2026-04-30
    listed $225,000 Active
19. 2010-06-23
    soldstatus $115,750
20. 2007-11-26
    soldstatus $107,000
21. 2003-03-03
    soldstatus $84,000
22. 1996-12-01
    soldstatus $70,900
23. 1987-10-01
    soldstatus $71,500

ⓘ 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: $663 · $55/mo
• Projected year-2 tax: $1,254 · $104/mo
• Expected delta: +$591/yr (+$49/mo · 89.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $21,257
• − Mortgage interest: −$12,323
• − Property taxes: −$663
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − HOA: −$264
• − Depreciation: −$6,400
• Taxable loss: −$2,895
• Est. tax savings @ 24.0%: +$695
• After-tax cash flow: $1,616/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 02
• NCES district ID: 4502730
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $42,532
• Composite: 28.78/100
• National rank: #6669
• State rank: #45 of 80 in SC

Livability — Oak Grove

• Score: 66/100
• State rank: #114
• US rank: #11681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• Metro: Columbia, SC
• Population (ZIP): 53,156
• Household income: $77,229
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 935.0

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 (72%)
• Race & ethnicity: White 72% Black 14% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

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: ▼ -59.20%
• Current HPI: 249.8957
• Rent YoY: ▲ 3.24%
• 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

+214.7% since first listed

6 events — show timeline

• 2026-04-30 Listed $225,000 Consolidated MLS
• 2010-06-23 Sold (Public Records) $115,750 Public Records
• 2007-11-26 Sold (Public Records) $107,000 Public Records
• 2003-03-03 Sold (Public Records) $84,000 Public Records
• 1996-12-01 Sold (Public Records) $70,900 Public Records
• 1987-10-01 Sold (Public Records) $71,500 Public Records

Property tax history

-7.0%/yr

Latest (2024): $663 · +3.3% YoY. Source: county tax records.