128 Melville Rd · Irmo, SC 29212

$250,000

3 bd · 2.0 ba · 1,660 sqft · SingleFamily public records · 17 Days on market

Built 1978 0.33 ac lot

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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 +14.6/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 128 Melville Road! This charming 3-bedroom, 2-bath home offers approximately 1,990 square feet of comfortable living space and endless potential. Thoughtfully maintained, the property features a new roof, new water heater, and a clean CL-100, providing peace of mind for the next owner. Step outside to enjoy the well-maintained swimming pool, perfect for relaxing or entertaining during South Carolina's warm seasons. With spacious living areas and great bones, this home is a blank slate ready for your personal touch, allowing you to update and customize it to fit your style and vision. Conveniently located near shopping, dining, schools, and major interstates, this is a wonderful o

Key facts

• Clean cl-100
• New water heater
• New roof

Tags

• NEW ROOF
• NEW WATER HEATER
• CLEAN CL-100
• WELL-MAINTAINED SWIMMING POOL
• SPACIOUS LIVING AREAS

Property features AI

Finance

• Other: Inground gunite pool; Paved road access; Approximately 0.33 acre lot

Exterior

• Parking: Attached garage with 4 garage spaces (main level)
• Utilities: Public water; Public sewer
• Home design: Single-family home, 1.5 stories; Brick exterior above foundation; Crawlspace foundation
• Construction: Crawlspace foundation
• Exterior features: Covered front porch; Screened back porch; Deck; Shed; Gutters (partial and full); Rear chain-link fencing

Interior

• Kitchen: Wood-natural cabinets; Eat-in kitchen; Formica countertops; Laminate flooring; Ceiling fan; Dishwasher; Free-standing range
• Bedrooms: Primary bedroom on main level with private bath, separate shower, private closet, carpet and tile floors; Second bedroom on main level with shared bath, tub/shower, private closet, carpet floors; Third bedroom on main level with shared bath, tub/shower, private closet
• Flooring: Carpet in multiple rooms; Tile in primary bedroom; Laminate in kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans throughout; Cathedral and vaulted ceilings in living areas; Attic with pull-down access; Wood-burning fireplace (1)
• Laundry & utility: Heated laundry space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $58 ($700/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 $194k (22.5% below list).
• Recommended offer: $194k (22.5% below list) — sets the bar for 1% rule.

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: Nursery Road Elementary (math 39% / reading 42%, grade F, #286 of 597 statewide, top 49%, 450 students, 100% FRL); Irmo Middle (math 30% / reading 38%, grade F, #110 of 229 statewide, top 49%, 1,011 students, 100% FRL); Irmo High (math 27% / reading 82%, grade C-, #130 of 196 statewide, top 69%, 1,307 students, 100% FRL) — zoned schools average 100% FRL vs 27% district-wide (73 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 211 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($77k/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 $8k 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 17 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $193,633 (22.5% below list)

Questions for the listing agent

1. Built in 1978 — 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 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?
4. 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?
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 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: 0.77% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.39×
• Total profit: $-42,601
• Equity at exit: $37,276

10-year hold

• IRR: -15.7%
• Equity multiple: 0.22×
• Total profit: $-54,767
• Equity at exit: $21,615

Cash invested: $70,000 (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 29212

• Rents YoY: -0.2%
• Active inventory: 211
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,936 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$56 /mo · $675/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $58

Break-even live

Break-even rent $1,863

Max offer price $250,000

Occupancy floor 92%

Sensitivity live

Price	-10% $200	-5% $129	+0% $58	+5% $-12	+10% $-83
Rent	-10% $-95	-5% $-18	+0% $58	+5% $135	+10% $211
Rate	-1.0pp $184	-0.5pp $122	base $58	+0.5pp $-6	+1.0pp $-72

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 Meredith Dr Columbia, SC	2.0–3.0	2.0–2.5	1083	$1,889	$1.74	4d	7	0.49mi
2170 N Lake Dr Columbia, SC	1.0–3.0	1.0–2.0	1036	$2,170	$2.09	4d	29	0.91mi

Listing history 8 events

1. 2026-06-08
   statusdays on market $250,000 Pending 17 DOM
2. 2026-06-07
   days on market $250,000 Active - Contingent 16 DOM
3. 2026-06-03
   days on market $250,000 Active - Contingent 12 DOM
4. 2026-06-03
   days on market $250,000 Active - Contingent 11 DOM
5. 2026-06-01
   days on market $250,000 Active - Contingent 10 DOM
6. 2026-05-31
   days on market $250,000 Active - Contingent 9 DOM
7. 2026-05-24
   historical Active - Contingent
8. 2026-05-22
   listed $250,000 Active

ⓘ 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: $675 · $56/mo
• Projected year-2 tax: $1,425 · $119/mo
• Expected delta: +$750/yr (+$63/mo · 111.3%)

ⓘ 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 ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $23,236
• − Mortgage interest: −$14,004
• − Property taxes: −$675
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$7,273
• Taxable loss: −$3,683
• Est. tax savings @ 24.0%: +$884
• After-tax cash flow: $1,583/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

• County: Lexington County · 232,571 people
• City population: 38,201
• Metro: Columbia, SC
• Population (ZIP): 27,657
• Household income: $77,142
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 863.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 25% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 3% Serbian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -139.55%
• Current HPI: 212.5173
• Rent YoY: ▼ -0.23%
• 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

2 events — show timeline

• 2026-05-24 Contingent — Consolidated MLS
• 2026-05-22 Listed $250,000 Consolidated MLS

Property tax history

-12.3%/yr

Latest (2024): $675 · +0.7% YoY. Source: county tax records.