1521 Cody St · Columbia, SC 29203

$55,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 30 Days on market

Built 1973

---

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

3-bedroom, 2-bath mobile home located in Columbia, SC 29203. This property offers great potential for investors or buyers looking for an affordable fixer-upper opportunity. Featuring a functional layout with spacious living areas, this home could shine with some cosmetic updates and renovations. Property is being sold AS-IS and will require repairs and improvements, making it ideal for a rental investment, flip project, or handyman special. Conveniently located near shopping, dining, and major highways. Don’t miss this chance to add value and make it your own! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Functional layout
• Cosmetic updates
• Conveniently located

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• COSMETIC UPDATES
• REPAIRS AND IMPROVEMENTS
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Four parking spaces
• Utilities: Septic system; Public water service
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Vinyl exterior; Paved road access; Public water

Interior

• Bedrooms: Primary bedroom located on the main level
• Bathrooms: Two full bathrooms
• Interior features: Central heating and central cooling; Total heated area approximately 1,344
• Laundry & utility: Washer and dryer located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.8% 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: A. J. Lewis Greenview Elementary (math 12% / reading 17%, grade F, #553 of 597 statewide, top 95%, 375 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); 240 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 35% of the median local income ($46k/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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $55k implies a 424% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% 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 $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — 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. 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: 2.43% ✓
• Cap rate: 20.75%
• Cash-on-cash: 51.64%
• DSCR: 3.30
• GRM: 3.4

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: 49.0%
• Equity multiple: 3.12×
• Total profit: $32,657
• Equity at exit: $8,201

10-year hold

• IRR: 54.3%
• Equity multiple: 6.21×
• Total profit: $80,186
• Equity at exit: $4,755

Cash invested: $15,400 (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 29203

• Home prices YoY: -31.6%
• Rents YoY: 2.5%
• Active inventory: 240
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$288
• Tax from tax record: −$80 /mo · $959/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $663

Break-even live

Break-even rent $495

Max offer price $55,000

Occupancy floor 45%

Sensitivity live

Price	-10% $694	-5% $678	+0% $663	+5% $647	+10% $632
Rent	-10% $557	-5% $610	+0% $663	+5% $715	+10% $768
Rate	-1.0pp $690	-0.5pp $677	base $663	+0.5pp $648	+1.0pp $634

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5779 Ames Rd Unit 13B Columbia, SC	2.0	1.0	895	$1,000	$1.12	12d	1	0.30mi
5779 Ames Rd Columbia, SC	2.0	1.0	895	$1,000	$1.12	15d	1	0.30mi
1063 Prescott Rd Columbia, SC	2.0	1.5	1210	$1,200	$0.99	15d	1	0.31mi
209 Christian St Columbia, SC	3.0	3.0	1585	$800	$0.50	24d	1	0.79mi
1931 Chaney St Columbia, SC	2.0	1.0	1034	$1,600	$1.55	24d	1	0.92mi
3145 Bronx Rd Columbia, SC	3.0	1.5	1207	$1,511	$1.25	24d	1	1.23mi
3015 English Ave Columbia, SC	2.0	1.0	981	$1,250	$1.27	12d	1	1.29mi
6604 Cartwright Dr Columbia, SC	3.0	2.0	1648	$1,650	$1.00	3d	1	1.32mi
2928 English Ave Unit NA Columbia, SC	3.0	1.0	1320	$1,590	$1.20	12d	1	1.43mi
1115 Carter St Columbia, SC	1.0–2.0	1.0	854	$1,405	$1.65	24d	1	1.43mi
1506 Charlton St Columbia, SC	3.0	2.0	1491	$1,500	$1.01	24d	1	1.45mi

Listing history 17 events

1. 2026-06-21
   pricedays on market $55,000 Active 30 DOM
2. 2026-06-18
   days on market $79,000 Active 27 DOM
3. 2026-06-17
   days on market $79,000 Active 26 DOM
4. 2026-06-16
   days on market $79,000 Active 25 DOM
5. 2026-06-15
   days on market $79,000 Active 24 DOM
6. 2026-06-14
   days on market $79,000 Active 22 DOM
7. 2026-06-10
   days on market $79,000 Active 19 DOM
8. 2026-06-09
   days on market $79,000 Active 18 DOM
9. 2026-06-09
   price $79,000 Active 17 DOM
10. 2026-06-08
    days on market $89,000 Active 17 DOM
11. 2026-06-07
    days on market $89,000 Active 16 DOM
12. 2026-06-03
    days on market $89,000 Active 12 DOM
13. 2026-06-03
    days on market $89,000 Active 11 DOM
14. 2026-06-01
    days on market $89,000 Active 10 DOM
15. 2026-05-31
    days on market $89,000 Active 9 DOM
16. 2026-05-22
    listed $89,000 Active
17. 2012-11-20
    soldstatus $10,500

ⓘ 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: $959 · $80/mo
• Projected year-2 tax: $959 · $80/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 67% 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: $16,010
• − Mortgage interest: −$3,081
• − Property taxes: −$959
• − Insurance: −$275
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$1,600
• Taxable income: $7,534
• Est. tax owed @ 24.0%: −$1,808
• After-tax cash flow: $6,145/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
• 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

+747.6% since first listed

2 events — show timeline

• 2026-05-22 Listed $89,000 Consolidated MLS
• 2012-11-20 Sold (Public Records) $10,500 Public Records

Property tax history

+11.1%/yr

Latest (2025): $959 · +2.1% YoY. Source: county tax records.