1718 Madison Rd #20 · Forest Acres, SC 29206

$175,000

3 bd · 2.0 ba · 1,434 sqft · Condo public records · 5 Days on market

Built 1963

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Cash flow +3.9/30.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

PENDING - STILL SHOWING / ACCEPTING BACK OFFERS- Elegant 2-Bedroom Condo with Timeless Character | The Madison, Forest Acres. Welcome to The Madison — one of Forest Acres' most sought-after addresses. This beautifully maintained 2-bedroom condo blends classic charm with a spacious, thoughtful layout. Minutes from Trader Joe's, Trenholm Plaza, and downtown Main Street. This condo is also walking distance to the new $100mm redevelopment of Richland Mall, spanning 25.5 acres, featuring a vibrant mix of retail shops, restaurants, a dog park and Columbia's newest concert venue. Best of all, the HOA at the Madison covers electricity, water, sewer, basic cable, and exterior maintenance &mdas

Key facts

• Community pool
• Spacious layout
• 2 parking spots

Tags

• SPACIOUS LAYOUT
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-500 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (7.5% below list).
• Recommended offer: $162k (7.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#39 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: crime D, amenities F, commute 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: Bradley Elementary (math 22% / reading 32%, grade F, #421 of 597 statewide, top 73%, 437 students, 100% FRL); A. C. Flora High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 1,352 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 47% at this address vs 31% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Richland 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.8%/yr); 115 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $175k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.
• Climate carrying-cost: major wind risk, 68% 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 $161,946 (7.5% 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. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 2.87%
• Cash-on-cash: -12.23%
• DSCR: 0.46
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.8% rent growth · sell at horizon

5-year hold

• IRR: -35.2%
• Equity multiple: -0.16×
• Total profit: $-56,817
• Equity at exit: $26,093

10-year hold

• IRR: -30.4%
• Equity multiple: -0.56×
• Total profit: $-76,217
• Equity at exit: $15,131

Cash invested: $49,000 (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 29206

• Rents YoY: 4.8%
• Active inventory: 115
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$918
• Tax from tax record: −$51 /mo · $616/yr
• Insurance: −$73
• HOA est. from 1 same-building comp: −$737
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-500

Break-even live

Break-even rent $2,252

Max offer price $86,744

Occupancy floor —

Sensitivity live

Price	-10% $-401	-5% $-450	+0% $-500	+5% $-549	+10% $-599
Rent	-10% $-628	-5% $-564	+0% $-500	+5% $-436	+10% $-372
Rate	-1.0pp $-411	-0.5pp $-455	base $-500	+0.5pp $-545	+1.0pp $-591

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Cherry Laurel Dr Unit 18005 Columbia, SC	2.0	1.0	960	$895	$0.93	24d	1	0.32mi
1821 Atascadero Dr Columbia, SC	3.0	2.0	1520	$2,000	$1.32	24d	1	0.36mi
2050 N Beltline Blvd Columbia, SC	1.0–2.0	1.0–1.5	831	$1,042	$1.25	15d	6	0.45mi
151 Renaissance Way Columbia, SC	3.0	2.0	1200	$1,400	$1.17	24d	1	0.57mi
4215 Bethel Church Rd Columbia, SC	1.0–3.0	1.0–2.0	962	$1,395	$1.45	24d	1	0.69mi
3431 Covenant Rd Columbia, SC	1.0–3.0	1.0–1.5	950	$1,100	$1.16	24d	1	0.69mi
4214 Bethel Church Rd Columbia, SC	2.0–3.0	1.0–2.0	1068	$1,429	$1.34	12d	9	0.77mi
3040 Girardeau Ave Columbia, SC	3.0	1.5	1400	$2,150	$1.54	15d	1	0.82mi
3040 Girardeau Ave Columbia, SC	3.0	1.5	1400	$2,150	$1.54	24d	1	0.82mi
3117 Quitman St Columbia, SC	3.0	2.0	1500	$1,750	$1.17	24d	1	0.87mi
4443 Bethel Church Rd #27 Columbia, SC	3.0	2.5	1660	$1,645	$0.99	24d	1	0.91mi
2834 Keats St Columbia, SC	3.0	2.0	921	$2,250	$2.44	15d	1	1.03mi
3111 Kline St Columbia, SC	2.0	2.0	950	$1,850	$1.95	24d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewerelectriccableexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-03-24
   status Pending
2. 2026-03-19
   listed $175,000 Active
3. 2015-03-04
   soldstatus $59,900
4. 1996-06-28
   soldstatus $85,000
5. 1985-06-01
   soldstatus $72,000

ⓘ 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: $616 · $51/mo
• Projected year-2 tax: $998 · $83/mo
• Expected delta: +$382/yr (+$32/mo · 61.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $19,434
• − Mortgage interest: −$9,803
• − Property taxes: −$616
• − Insurance: −$875
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − HOA: −$8,844
• − Depreciation: −$5,091
• Taxable loss: −$8,904
• Est. tax savings @ 24.0%: +$2,137
• After-tax cash flow: $-3,858/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 — Forest Acres

• Score: 73/100
• State rank: #39
• US rank: #5064

Category grades

Amenities F Commute F Cost of living A Crime D Employment A- Housing A+ Health & safety B User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Acres, SC
• County: Richland County · 389,530 people
• City population: 20,054
• Metro: Columbia, SC
• Population (ZIP): 19,759
• Household income: $91,847
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 697.0

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 White (74%)
• Race & ethnicity: White 74% Black 14% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Italian 5% Serbian 4% Slovak 4%
• Foreign-born: 3% · Canada, Guatemala, South Korea
• Languages at home: 97% English-only · Spanish 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: ▼ -325.76%
• Current HPI: 224.5418
• Rent YoY: ▲ 4.80%
• 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

+143.1% since first listed

5 events — show timeline

• 2026-03-24 Pending — Consolidated MLS
• 2026-03-19 Listed $175,000 Consolidated MLS
• 2015-03-04 Sold (Public Records) $59,900 Public Records
• 1996-06-28 Sold (Public Records) $85,000 Public Records
• 1985-06-01 Sold (Public Records) $72,000 Public Records

Property tax history

-13.2%/yr

Latest (2025): $616 · +3.9% YoY. Source: county tax records.