201 Milway Rd · Irmo, SC 29063

$205,000

3 bd · 2.0 ba · 1,720 sqft · SingleFamily public records · 4 Days on market

Built 1977

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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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, one-level, ranch in New Friarsgate!! Huge corner lot with mature trees, fully fenced backyard, Florida room and spacious 2 car garage! Fresh paint and durable LVP flooring throughout. Family room is centered around fireplace while featuring vaulted ceilings and exposed beams. Galley style, eat-in kitchen has stainless steel appliances and plenty of cabinet space. Primary suite boasts his/hers closets and full, private bath. Zoned for Dutch Fork schools too! Convenient to Lake Murray, I-26, shopping, schools, Irmo, Harbison, Ballentine, etc. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Florida room
• His hers closets
• Corner lot

Tags

• CORNER LOT
• FULLY FENCED BACKYARD
• FLORIDA ROOM
• STAINLESS STEEL APPLIANCES
• PLENTY OF CABINET SPACE
• HIS HERS CLOSETS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public sewer
• Home design: Single-story home
• Construction: Slab foundation
• Exterior features: Partial brick and wood exterior; Paved road access; Public water

Interior

• Bedrooms: Master bedroom on the main level
• Bathrooms: Two full bathrooms; One half bathroom
• Interior features: One fireplace; Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-64 ($-766/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (1.9% below list).
• Recommended offer: $194k (5.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 73/100 on livability (#38 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F.
• Lexington 05 (suburban): math 47% / reading 55% proficiency, ranked #5 of 80 in SC (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: H. E. Corley Elementary (math 42% / reading 52%, grade D-, #209 of 597 statewide, top 36%, 558 students, 74% FRL); Dutch Fork High (math 54% / reading 86%, grade B+, #58 of 196 statewide, top 30%, 1,726 students, 52% FRL) — zoned schools average 63% FRL vs 27% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 315 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major wind risk, 59% 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 $193,730 (5.5% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.98% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.78% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.28×
• Total profit: $-41,503
• Equity at exit: $30,566

10-year hold

• IRR: -22.4%
• Equity multiple: -0.01×
• Total profit: $-57,914
• Equity at exit: $17,725

Cash invested: $57,400 (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 29063

• Rents YoY: 0.8%
• Active inventory: 315
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,012 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$493 /mo · $5,912/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-64

Break-even live

Break-even rent $2,093

Max offer price $193,730

Occupancy floor 98%

Sensitivity live

Price	-10% $52	-5% $-6	+0% $-64	+5% $-122	+10% $-180
Rent	-10% $-223	-5% $-143	+0% $-64	+5% $16	+10% $95
Rate	-1.0pp $39	-0.5pp $-12	base $-64	+0.5pp $-117	+1.0pp $-171

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Weston Watch Rd Irmo, SC	3.0	2.0	1200	$1,695	$1.41	4d	1	0.51mi
530 Chadford Rd Irmo, SC	3.0	2.0	1196	$1,695	$1.42	15d	1	0.60mi
312 Bow Church Rd Irmo, SC	3.0	2.0	1505	$1,861	$1.24	11d	1	0.69mi
508 Cornerstone Cir Irmo, SC	3.0	2.0	1867	$2,200	$1.18	24d	1	0.75mi
13 Dyers Hall Ct Irmo, SC	3.0	2.0	1127	$1,699	$1.51	24d	1	0.79mi
228 Chadford Rd Irmo, SC	3.0	2.0	1318	$1,861	$1.41	15d	1	0.95mi
22 Dean Crest Ct Irmo, SC	3.0	2.0	1301	$1,695	$1.30	4d	1	0.98mi
657 Patmore DR Irmo, SC	3.0	2.0	1700	$2,283	$1.34	22d	1	1.32mi
634 Patmore DR Irmo, SC	4.0	3.0	2110	$2,475	$1.17	22d	1	1.32mi

Listing history 7 events

1. 2026-05-26
   listed $205,000 Active
2. 2021-07-07
   soldstatus $179,000
3. 2021-06-07
   historical
4. 2021-06-01
   listed $175,000 Active
5. 1999-10-06
   soldstatus $93,500
6. 1998-03-10
   soldstatus $90,000
7. 1988-12-01
   soldstatus $67,700

ⓘ 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: $5,912 · $493/mo
• Projected year-2 tax: $5,912 · $493/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,142
• − Mortgage interest: −$11,483
• − Property taxes: −$5,912
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − Depreciation: −$5,964
• Taxable loss: −$4,105
• Est. tax savings @ 24.0%: +$985
• After-tax cash flow: $220/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 05
• NCES district ID: 4502820
• Math proficiency: 47% ▼ -7.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $67,732
• Composite: 45.28/100
• National rank: #2656
• State rank: #5 of 80 in SC

Livability — Irmo

• Score: 73/100
• State rank: #38
• US rank: #5024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irmo, SC
• County: Richland County · 389,530 people
• City population: 38,201
• Metro: Columbia, SC
• Population (ZIP): 38,201
• Household income: $91,973
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 962.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 26% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 4% Serbian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -130.57%
• Current HPI: 204.0147
• Rent YoY: ▲ 0.78%
• 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

+202.8% since first listed

7 events — show timeline

• 2026-05-26 Listed $205,000 Consolidated MLS
• 2021-07-07 Sold (Public Records) $179,000 Public Records
• 2021-06-07 Delisted — Consolidated MLS
• 2021-06-01 Listed $175,000 Consolidated MLS
• 1999-10-06 Sold (Public Records) $93,500 Public Records
• 1998-03-10 Sold (Public Records) $90,000 Public Records
• 1988-12-01 Sold (Public Records) $67,700 Public Records

Property tax history

+17.4%/yr

Latest (2025): $5,912 · +0.6% YoY. Source: county tax records.