517 Johnson Ave · Columbia, SC 29203-3940

$109,900

2 bd · 1.0 ba · 883 sqft · SingleFamily public records · 92 Days on market

Built 1957 0.25 ac lot

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Why this score? — see what drove the C 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.0/10.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor special! Great opportunity to secure a residential lot in a growing area of Columbia. This approximately 0.25-acre lot is located in an established neighborhood and offers 2 beds and 1 bath. Public water and sewer available. Conveniently located near Columbia College, downtown Columbia, major roadways, shopping, and dining. Strong rental demand in the area makes this a great addition to any investor’s portfolio. Don’t miss this affordable development opportunity in a steadily growing market Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Residential lot
• Public sewer
• Near major roadways

Tags

• RESIDENTIAL LOT
• PUBLIC WATER
• PUBLIC SEWER
• NEAR COLUMBIA COLLEGE
• NEAR DOWNTOWN COLUMBIA
• NEAR MAJOR ROADWAYS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Slab foundation
• Exterior features: Partial brick exterior above foundation; Vinyl siding; Paved road access

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Dining room on the main level; Family room on the main level
• Laundry & utility: Washer and dryer located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Edward E. Taylor Elementary (math 5% / reading 24%, grade F, #549 of 597 statewide, top 92%, 225 students, 100% FRL); Eau Claire High (math 22% / reading 84%, grade C-, #139 of 196 statewide, top 71%, 627 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4k of equity ($760 loan paydown + $3k 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $110k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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: 1.10% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 7.5

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: 13.7%
• Equity multiple: 1.78×
• Total profit: $24,127
• Equity at exit: $49,416

10-year hold

• IRR: 15.6%
• Equity multiple: 3.30×
• Total profit: $70,747
• Equity at exit: $76,156

Cash invested: $30,772 (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 29203-3940

• Active inventory: 1
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$576
• Tax from tax record: −$166 /mo · $1,993/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $170

Break-even live

Break-even rent $998

Max offer price $109,900

Occupancy floor 81%

Sensitivity live

Price	-10% $233	-5% $201	+0% $170	+5% $139	+10% $108
Rent	-10% $75	-5% $122	+0% $170	+5% $218	+10% $266
Rate	-1.0pp $226	-0.5pp $198	base $170	+0.5pp $142	+1.0pp $113

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4030 Gonzales Ave Columbia, SC	2.0	2.0	840	$1,375	$1.64	24d	1	0.32mi
521 Pineneedle Rd Columbia, SC	2.0	1.0	725	$1,150	$1.59	24d	1	0.42mi
3638 Falling Springs Rd Columbia, SC	3.0	2.0	1080	$1,332	$1.23	24d	1	0.52mi
1319 Hendrix St Columbia, SC	2.0	1.0	900	$1,050	$1.17	24d	1	0.72mi
3606 Medical Dr Unit B Columbia, SC	2.0	1.5	864	$1,100	$1.27	24d	1	0.86mi
3700 West Ave Columbia, SC	1.0–2.0	1.0	750	$850	$1.13	15d	1	1.06mi
2617 River Dr Columbia, SC	2.0–3.0	1.0–2.0	1038	$427	$0.41	15d	2	1.21mi
4501 Bentley Dr Columbia, SC	1.0–3.0	1.0–2.0	946	$1,328	$1.40	12d	18	1.35mi
2308 Manse St Columbia, SC	3.0	1.0	999	$1,300	$1.30	15d	1	1.37mi
3900 Bentley Dr Columbia, SC	1.0–2.0	1.0–2.0	873	$1,330	$1.52	12d	40	1.41mi
2105 Grove St Columbia, SC	2.0	1.0	800	$850	$1.06	24d	1	1.44mi
1404 Victoria St Columbia, SC	1.0	1.0	780	$1,400	$1.79	15d	1	1.46mi

Listing history 17 events

1. 2026-06-18
   days on market $109,900 Active 92 DOM
2. 2026-06-17
   days on market $109,900 Active 91 DOM
3. 2026-06-16
   days on market $109,900 Active 90 DOM
4. 2026-06-15
   pricedays on market $109,900 Active 89 DOM
5. 2026-06-14
   days on market $119,900 Active 87 DOM
6. 2026-06-10
   days on market $119,900 Active 84 DOM
7. 2026-06-09
   days on market $119,900 Active 83 DOM
8. 2026-06-08
   days on market $119,900 Active 82 DOM
9. 2026-06-07
   days on market $119,900 Active 81 DOM
10. 2026-06-03
    days on market $119,900 Active 77 DOM
11. 2026-06-03
    days on market $119,900 Active 76 DOM
12. 2026-06-01
    days on market $119,900 Active 75 DOM
13. 2026-05-31
    days on market $119,900 Active 74 DOM
14. 2026-05-15
    price $119,900
15. 2026-04-25
    price $129,900
16. 2026-03-18
    listed $134,900 Active
17. 2022-03-10
    soldstatus $62,000

ⓘ 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: $1,993 · $166/mo
• Projected year-2 tax: $1,993 · $166/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 ≥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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,561
• − Mortgage interest: −$6,156
• − Property taxes: −$1,993
• − Insurance: −$550
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,197
• Taxable income: $335
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $1,964/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

• Census place: Columbia, SC

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

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

+93.4% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $119,900 Consolidated MLS
• 2026-04-25 Price Changed $129,900 Consolidated MLS
• 2026-03-18 Listed $134,900 Consolidated MLS
• 2022-03-10 Sold (Public Records) $62,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,993 · +2.1% YoY. Source: county tax records.