111 Riverwalk Way · Columbia, SC 29063

$174,000

3 bd · 2.0 ba · 1,411 sqft · SingleFamily public records · 50 Days on market

Built 1988 0.35 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 +19.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.7/10.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTORS, AGENTS & HOME RENOVATION BUYERS! Irmo ranch style 3BR/2BA home ready for a fix and flip or buy and hold opportunity! Sold AS IS. ARV is approximately 225k. New hot water heater installed April 2026. Schedule with our team today! Bring your inspector, your GC and your highest and best! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 0.35 acre lot
• 2 parking spots
• Built 1988

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Deck; Patio; Shed; Vinyl exterior finish; Privacy fence and rear chain-link fencing; Paved road access

Interior

• Kitchen: Pantry; Formica countertops; Stained wood cabinets; Tile floor; Tiled backsplash; Built-in range
• Bedrooms: Master on main with private bath, walk-in closet, tub/shower, ceiling fan, hardwood floors; Bedroom 2 on main with shared bath, tub/shower, ceiling fan, private closet, other flooring; Bedroom 3 on main with shared bath, tub/shower, private closet, tile flooring
• Flooring: Hardwood in living areas and formal dining; Tile in kitchen and Bedroom 3; Other flooring in Bedroom 2
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans throughout; Pull-down attic access; Wood-burning fireplace (1)
• Laundry & utility: Main-level laundry in closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $174k).
• Recommended offer: $169k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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.
• 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: Dutch Fork Elementary (math 32% / reading 37%, grade F, #344 of 597 statewide, top 60%, 475 students, 82% FRL); Dutch Fork High (math 54% / reading 86%, grade B+, #58 of 196 statewide, top 30%, 1,726 students, 52% FRL) — zoned schools average 67% FRL vs 27% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 318 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $92k; list at $174k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $168,780 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.07% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.78% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-20,479
• Equity at exit: $25,944

10-year hold

• IRR: -6.6%
• Equity multiple: 0.62×
• Total profit: $-18,380
• Equity at exit: $15,044

Cash invested: $48,720 (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 29063

• Rents YoY: 0.8%
• Active inventory: 318
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$912
• Tax from tax record: −$298 /mo · $3,574/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $184

Break-even live

Break-even rent $1,624

Max offer price $174,000

Occupancy floor 85%

Sensitivity live

Price	-10% $282	-5% $233	+0% $184	+5% $134	+10% $85
Rent	-10% $37	-5% $110	+0% $184	+5% $257	+10% $330
Rate	-1.0pp $271	-0.5pp $228	base $184	+0.5pp $139	+1.0pp $93

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Riverwalk Way Irmo, SC	3.0	2.0	1300	$1,750	$1.35	15d	1	0.08mi
356 Lake Murray Blvd Irmo, SC	1.0–3.0	1.0–2.0	1020	$2,537	$2.49	4d	23	0.35mi
100 Walden Heights Dr Irmo, SC	1.0–3.0	1.0–2.0	1030	$1,880	$1.83	4d	23	0.53mi
6 Forestgrove Ct Columbia, SC	3.0	2.0	1066	$1,599	$1.50	22d	1	0.64mi
500 Harbison Blvd Columbia, SC	2.0–3.0	2.0–3.0	1152	$1,849	$1.61	3d	11	0.94mi
113 Paces Brook Ave Columbia, SC	1.0–3.0	1.0–2.0	929	$1,770	$1.91	12d	12	0.96mi
401 Columbiana Dr Columbia, SC	2.0–4.0	1.5–2.0	1207	$1,216	$1.01	4d	1	0.98mi
316 Stamport Cir Irmo, SC	3.0	2.5	1500	$1,575	$1.05	4d	1	1.00mi
13 Crossbow Pl Columbia, SC	2.0	2.5	1250	$1,650	$1.32	15d	1	1.05mi
100 Fairforest Rd Columbia, SC	2.0	1.5	1150	$1,224	$1.06	4d	3	1.25mi
171 Winding Chestnut Dr Columbia, SC	3.0	2.5	1335	$1,975	$1.48	24d	1	1.42mi
105 Manorwood Ct Columbia, SC	2.0	1.5	1000	$1,150	$1.15	24d	1	1.43mi
121 Manorwood Ct Unit C Columbia, SC	2.0	1.5	1120	$1,095	$0.98	24d	1	1.44mi

Listing history 21 events

1. 2026-06-21
   days on market $174,000 Active 50 DOM
2. 2026-06-18
   days on market $174,000 Active 47 DOM
3. 2026-06-17
   days on market $174,000 Active 46 DOM
4. 2026-06-16
   days on market $174,000 Active 45 DOM
5. 2026-06-15
   days on market $174,000 Active 44 DOM
6. 2026-06-14
   days on market $174,000 Active 42 DOM
7. 2026-06-13
   days on market $174,000 Active 41 DOM
8. 2026-06-10
   days on market $174,000 Active 39 DOM
9. 2026-06-09
   days on market $174,000 Active 38 DOM
10. 2026-06-08
    days on market $174,000 Active 37 DOM
11. 2026-06-07
    days on market $174,000 Active 36 DOM
12. 2026-06-03
    days on market $174,000 Active 32 DOM
13. 2026-06-03
    days on market $174,000 Active 31 DOM
14. 2026-06-01
    days on market $174,000 Active 30 DOM
15. 2026-05-31
    days on market $174,000 Active 29 DOM
16. 2026-05-13
    price $174,000
17. 2026-05-02
    listed $175,000 Active
18. 1999-06-01
    soldstatus $92,000
19. 1997-12-19
    soldstatus $85,500
20. 1988-07-01
    soldstatus $13,000
21. 1988-07-01
    soldstatus $68,900

ⓘ 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: $3,574 · $298/mo
• Projected year-2 tax: $3,574 · $298/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $22,275
• − Mortgage interest: −$9,747
• − Property taxes: −$3,574
• − Insurance: −$870
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$5,062
• Taxable loss: −$542
• Est. tax savings @ 24.0%: +$130
• After-tax cash flow: $2,334/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 — 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

• County: Richland County · 389,530 people
• City population: 335,994
• Metro: Columbia, SC
• Population (ZIP): 38,201
• Household income: $91,973
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 962.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 26% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 4% Serbian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 1%

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: ▼ -130.57%
• Current HPI: 204.0147
• Rent YoY: ▲ 0.78%
• 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

+1238.5% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $174,000 Consolidated MLS
• 2026-05-02 Listed $175,000 Consolidated MLS
• 1999-06-01 Sold (Public Records) $92,000 Public Records
• 1997-12-19 Sold (Public Records) $85,500 Public Records
• 1988-07-01 Sold (Public Records) $68,900 Public Records
• 1988-07-01 Sold (Public Records) $13,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $3,574 · +0.8% YoY. Source: county tax records.