5012 Erwin Ct · Columbia, SC 29045-0000

$294,323

3 bd · 2.5 ba · 1,962 sqft · SingleFamily · 7 Days on market

Built 2026 Good condition 4,791 sqft lot $44/mo HOA · 2% of rent

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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 +9.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.1/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0

Listing remarks

Up to $8,500 in closing costs with our partner lender for a limited time! Step into the Kershaw plan, a place you’ll truly love to call home. This thoughtfully designed home features three bedrooms, two-and-one-half bathrooms, and a versatile loft space perfect for relaxing, working, or play. As you enter, beautiful luxury vinyl plank flooring in a soft beige tone guides you down the main hallway and into the heart of the home. The open-concept layout seamlessly connects the kitchen, eat-in area, dining or flex space, and great room, creating the perfect setting for both everyday living and effortless entertaining. The great room is warm and welcoming, highlighted by a charming firepl

Key facts

• Charming fireplace
• Walk-in closets
• Open-concept layout

Tags

• LUXURY VINYL PLANK FLOORING
• OPEN-CONCEPT LAYOUT
• CHARMING FIREPLACE
• SPACIOUS GRANITE ISLAND
• STAINLESS STEEL GE APPLIANCES
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $294k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (9.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (18.9% below list).
• Recommended offer: $239k (18.9% below list) — sets the bar for 1% rule.

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 02 (suburban): math 35% / reading 47% proficiency, ranked #29 of 80 in SC (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Catawba Trail Elementary (math 43% / reading 41%, grade F, #256 of 597 statewide, top 45%, 591 students, 59% FRL); Spring Valley High (math 53% / reading 92%, grade B+, #46 of 196 statewide, top 24%, 2,187 students, 49% FRL) — zoned schools average 54% FRL vs 38% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 41% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Richland 02 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 34 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $238,563 (18.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.81% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• 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: 4.9%
• Equity multiple: 1.28×
• Total profit: $23,204
• Equity at exit: $132,340

10-year hold

• IRR: 8.0%
• Equity multiple: 2.21×
• Total profit: $99,995
• Equity at exit: $203,952

Cash invested: $82,410 (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 29045-0000

• Active inventory: 34
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,386 medium
• Mortgage (P&I): −$1,543
• Tax est. 1.5%: −$368 /mo · $4,415/yr
• Insurance: −$123
• HOA: −$44
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-193

Break-even live

Break-even rent $2,630

Max offer price $266,345

Occupancy floor —

Sensitivity live

Price	-10% $10	-5% $-92	+0% $-193	+5% $-295	+10% $-397
Rent	-10% $-382	-5% $-288	+0% $-193	+5% $-99	+10% $-5
Rate	-1.0pp $-45	-0.5pp $-118	base $-193	+0.5pp $-270	+1.0pp $-347

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: $73,581
• Closing costs: $8,830
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Ollivander Ln Elgin, SC	4.0	2.5	2440	$2,400	$0.98	25d	1	0.36mi
225 Bails Rd Elgin, SC	3.0	2.0	2176	$2,350	$1.08	4d	1	1.00mi

HOA detail

• Monthly dues: $44 · $528/yr

Listing history 2 events

1. 2026-04-26
   status Pending
2. 2026-04-19
   listed $294,323 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,628
• − Mortgage interest: −$16,487
• − Property taxes: −$4,415
• − Insurance: −$1,472
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − HOA: −$528
• − Depreciation: −$8,562
• Taxable loss: −$7,416
• Est. tax savings @ 24.0%: +$1,780
• After-tax cash flow: $-540/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This well-maintained single-family home features modern amenities and a good condition score, making it a solid investment opportunity.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both replace carpet with hardwood — increases resale and rental value
• Both install smart home devices — attracts tech-savvy buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both replace carpet with hardwood — increases resale and rental value ↑
• Both install smart home devices — attracts tech-savvy buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Richland 02
• NCES district ID: 4503390
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $59,684
• Composite: 36.2/100
• National rank: #4730
• State rank: #29 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

2 events — show timeline

• 2026-04-26 Pending — Consolidated MLS
• 2026-04-19 Listed $294,323 Consolidated MLS