6509 Frost Ave · Columbia, SC 29203

$110,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 123 Days on market

Built 1968

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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
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market at no fault of the seller. Discover endless potential in this Denny Terrace brick ranch. This is a 4 bedroom 1 bath where the carport was previously converted to add the extra bedroom. Perfect for handy homeowners or investors, home is sold as is. Located in an established neighborhood close to I-20 and minutes from downtown. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Close to i-20
• Converted carport
• Built 1968

Tags

• DENNY TERRACE BRICK RANCH
• CONVERTED CARPORT
• ESTABLISHED NEIGHBORHOOD
• CLOSE TO I-20
• MINUTES FROM DOWNTOWN

Property features AI

Exterior

• Utilities: Public water; Septic sewer
• Home design: Single-story entry (master on main)
• Construction: Crawlspace foundation
• Exterior features: Partial brick exterior above foundation; Paved road access; Public water

Interior

• Bedrooms: Master bedroom on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating
• Interior features: Central heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 5.0% in Columbia — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: Forest Heights Elementary (math 12% / reading 12%, grade F, #572 of 597 statewide, top 97%, 441 students, 100% FRL); W.J. Keenan High (math 54% / reading 77%, grade B, #83 of 196 statewide, top 43%, 725 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 238 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• At $1,761/mo this rent would consume 46% of the median local household income ($46k/yr) (locally 1980% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 + 2.5% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $19k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.60% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.67%
• DSCR: 2.05
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.5% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.65×
• Total profit: $20,025
• Equity at exit: $16,401

10-year hold

• IRR: 24.5%
• Equity multiple: 3.07×
• Total profit: $63,843
• Equity at exit: $9,511

Cash invested: $30,800 (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 29203

• Home prices YoY: -31.6%
• Rents YoY: 2.5%
• Active inventory: 238
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,761 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$161 /mo · $1,934/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $607

Break-even live

Break-even rent $992

Max offer price $110,000

Occupancy floor 61%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6408 Bishop Ave Columbia, SC	3.0	2.0	1250	$1,850	$1.48	23d	1	0.65mi
2112 Chandler Ave Columbia, SC	3.0	3.0	1350	$1,850	$1.37	23d	1	1.18mi
1808 Laredo Dr Columbia, SC	3.0	2.0	1250	$1,661	$1.33	23d	1	1.20mi
1839 Hi Sierra Dr Columbia, SC	3.0	2.0	1500	$1,731	$1.15	23d	1	1.37mi

Listing history 21 events

1. 2026-06-18
   days on market $110,000 Active 123 DOM
2. 2026-06-17
   price $110,000 Active 122 DOM
3. 2026-06-16
   days on market $114,000 Active 122 DOM
4. 2026-06-15
   days on market $114,000 Active 121 DOM
5. 2026-06-14
   days on market $114,000 Active 119 DOM
6. 2026-06-10
   days on market $114,000 Active 116 DOM
7. 2026-06-09
   days on market $114,000 Active 115 DOM
8. 2026-06-08
   days on market $114,000 Active 114 DOM
9. 2026-06-07
   days on market $114,000 Active 113 DOM
10. 2026-06-03
    days on market $114,000 Active 109 DOM
11. 2026-06-03
    days on market $114,000 Active 108 DOM
12. 2026-06-01
    days on market $114,000 Active 107 DOM
13. 2026-05-31
    days on market $114,000 Active 106 DOM
14. 2026-05-11
    price $114,000
15. 2026-05-11
    status Active
16. 2026-03-12
    status Pending
17. 2026-02-17
    price $119,000
18. 2026-02-17
    status Active
19. 2026-02-06
    historical Active - Contingent
20. 2025-12-16
    listed $129,000 Active
21. 2025-02-28
    soldstatus $544,800

ⓘ 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: $1,934 · $161/mo
• Projected year-2 tax: $1,934 · $161/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 2/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $21,134
• − Mortgage interest: −$6,162
• − Property taxes: −$1,934
• − Insurance: −$550
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$3,200
• Taxable income: $5,907
• Est. tax owed @ 24.0%: −$1,418
• After-tax cash flow: $5,872/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

• County: Richland County · 389,530 people
• City population: 335,994
• Metro: Columbia, SC
• Population (ZIP): 40,653
• Household income: $46,054
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1980.0

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 Black (80%)
• Race & ethnicity: Black 80% White 13% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -77.52%
• Current HPI: 168.2114
• Rent YoY: ▲ 2.50%
• 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

-79.1% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $114,000 Consolidated MLS
• 2026-05-11 Relisted — Consolidated MLS
• 2026-03-12 Pending — Consolidated MLS
• 2026-02-17 Price Changed $119,000 Consolidated MLS
• 2026-02-17 Relisted — Consolidated MLS
• 2026-02-06 Contingent — Consolidated MLS
• 2025-12-16 Listed $129,000 Consolidated MLS
• 2025-02-28 Sold (Public Records) $544,800 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,934 · +2.6% YoY. Source: county tax records.