3405 Padgett Rd · Columbia, SC 29209-3448

$186,000

3 bd · 2.0 ba · 1,032 sqft · SingleFamily public records · 17 Days on market

Built 1978

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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 +15.3/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Three (3) bedroom Brick home on Padgett Road. Step down from the kitchen to 2 additional rooms. Large back yard and the front can be a circular driveway. Home can use some updating. Please verify square footage and schools. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 2 additional rooms
• Brick home
• Large back yard

Tags

• BRICK HOME
• LARGE BACK YARD
• CIRCULAR DRIVEWAY
• 2 ADDITIONAL ROOMS

Property features AI

Exterior

• Parking: Attached garage (1 car) located on main level
• Utilities: Public sewer; Public water
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Brick exterior above foundation on all sides; Full fencing; Paved road access; Public water

Interior

• Kitchen: Range (free-standing)
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level; Third bedroom on the main level
• Flooring: Hardwood in great room
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Free-standing range; Great room with hardwood flooring; Laundry located in the garage
• Laundry & utility: Laundry in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $67 ($805/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 $151k (18.8% below list).
• Recommended offer: $151k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Caughman Road Elementary (math 22% / reading 27%, grade F, #452 of 597 statewide, top 78%, 707 students, 100% FRL); Lower Richland High (math 5% / reading 64%, grade F, #185 of 196 statewide, top 94%, 1,244 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: 1 active listings in the ZIP; 8 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).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $186k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 74% 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 $151,055 (18.8% 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 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?
4. 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?
5. 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?
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 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: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.9%
• Equity multiple: 1.51×
• Total profit: $26,605
• Equity at exit: $83,634

10-year hold

• IRR: 11.4%
• Equity multiple: 2.70×
• Total profit: $88,648
• Equity at exit: $128,889

Cash invested: $52,080 (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 29209-3448

• Active inventory: 1
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,511 high
• Mortgage (P&I): −$975
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $67

Break-even live

Break-even rent $1,426

Max offer price $186,000

Occupancy floor 91%

Sensitivity live

Price	-10% $172	-5% $120	+0% $67	+5% $14	+10% $-38
Rent	-10% $-52	-5% $7	+0% $67	+5% $127	+10% $186
Rate	-1.0pp $161	-0.5pp $114	base $67	+0.5pp $19	+1.0pp $-30

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: $46,500
• Closing costs: $5,580
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Shagbark Ave Columbia, SC	3.0	1.0	1000	$1,295	$1.29	19d	1	0.27mi
385 Saskatoon Dr Unit 385 Columbia, SC	3.0	2.0	1330	$2,000	$1.50	24d	1	0.30mi
429 Mockernut Ln Columbia, SC	3.0	1.0	1010	$1,250	$1.24	24d	1	0.33mi
329 Ovanta Rd Columbia, SC	3.0	1.5	1100	$1,200	$1.09	24d	1	0.43mi
305 Shoreditch Dr Columbia, SC	3.0	1.5	1378	$1,586	$1.15	19d	1	0.48mi
313 Shoreditch Dr Columbia, SC	3.0	1.5	1056	$1,775	$1.68	24d	1	0.51mi
302 Crooked Pine Ct Columbia, SC	3.0	2.0	1399	$1,883	$1.35	24d	1	0.60mi
4022 Ulmer Rd Columbia, SC	2.0–3.0	1.0–2.0	1202	$1,322	$1.10	19d	1	1.30mi

Listing history 12 events

1. 2026-06-18
   days on market $186,000 Active 17 DOM
2. 2026-06-17
   days on market $186,000 Active 16 DOM
3. 2026-06-16
   days on market $186,000 Active 15 DOM
4. 2026-06-15
   days on market $186,000 Active 14 DOM
5. 2026-06-14
   days on market $186,000 Active 12 DOM
6. 2026-06-10
   days on market $186,000 Active 9 DOM
7. 2026-06-09
   days on market $186,000 Active 8 DOM
8. 2026-06-08
   days on market $186,000 Active 7 DOM
9. 2026-06-07
   days on market $186,000 Active 6 DOM
10. 2026-06-03
    days on market $186,000 Active 2 DOM
11. 2026-06-02
    remarks 327-char remark
12. 2026-06-02
    listed $186,000 Active 1 DOM

ⓘ 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: $880 · $73/mo
• Projected year-2 tax: $1,060 · $88/mo
• Expected delta: +$180/yr (+$15/mo · 20.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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 74% 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: $18,127
• − Mortgage interest: −$10,419
• − Property taxes: −$880
• − Insurance: −$930
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$5,411
• Taxable loss: −$2,413
• Est. tax savings @ 24.0%: +$579
• After-tax cash flow: $1,384/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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+389.5% since first listed

5 events — show timeline

• 2026-06-01 Listed $186,000 Consolidated MLS
• 2015-07-29 Sold (Public Records) $73,500 Public Records
• 2015-05-06 Price Changed $82,500 Consolidated MLS
• 2015-03-17 Price Changed $89,000 Consolidated MLS
• 1978-12-01 Sold (Public Records) $38,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $880 · +4.0% YoY. Source: county tax records.