7010 Gray St · Columbia, SC 29209

$150,000

3 bd · 2.0 ba · 1,225 sqft · SingleFamily public records

Built 1961 0.29 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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great house near Ft. Jackson. Big double lot, large kitchen and living spaces. Quiet neighborhood. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1961

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (4.1% below list).
• Recommended offer: $144k (4.1% below list) — sets the bar for 1% rule.
• 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: Horrell Hill Elementary (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 562 students, 100% FRL); Lower Richland High (math 5% / reading 64%, grade F, #185 of 196 statewide, top 94%, 1,244 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 (+2.1%/yr); 299 active listings in the ZIP; 9 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $86k; list at $150k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,911 (4.1% below list)

Questions for the listing agent

1. Built in 1961 — 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: 0.96% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.08% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-10,556
• Equity at exit: $22,365

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $4,723
• Equity at exit: $12,969

Cash invested: $42,000 (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 29209

• Rents YoY: 2.1%
• Active inventory: 299
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$787
• Tax from tax record: −$50 /mo · $602/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $238

Break-even live

Break-even rent $1,138

Max offer price $150,000

Occupancy floor 78%

Sensitivity live

Price	-10% $323	-5% $280	+0% $238	+5% $195	+10% $153
Rent	-10% $124	-5% $181	+0% $238	+5% $294	+10% $351
Rate	-1.0pp $313	-0.5pp $276	base $238	+0.5pp $199	+1.0pp $159

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7116 Tama Rd Columbia, SC	3.0	1.0–1.5	600	$1,225	$2.04	24d	1	0.34mi
3 Ashley's Pl Unit 04 Columbia, SC	2.0	1.5	1100	$995	$0.90	24d	1	0.86mi
1401 Elmtree Rd Apt B4 Columbia, SC	2.0	2.0	1000	$1,095	$1.09	24d	1	0.92mi
7712 Burdell Dr Columbia, SC	3.0	1.0	1025	$1,750	$1.71	24d	1	1.09mi
164 Ashewood Commons Dr Columbia, SC	2.0	2.0	1025	$1,349	$1.32	15d	1	1.21mi
4022 Ulmer Rd Columbia, SC	2.0–3.0	1.0–2.0	1202	$1,322	$1.10	20d	1	1.26mi
1101 Hallbrook Dr Columbia, SC	1.0–3.0	1.0–2.0	1050	$1,229	$1.17	15d	1	1.29mi
150 Daphne Rd Columbia, SC	3.0	2.0	1123	$1,025	$0.91	24d	1	1.39mi
7648 Garners Ferry Rd Columbia, SC	3.0	1.0–2.0	828	$1,279	$1.54	15d	1	1.49mi

Listing history 5 events

1. 2026-04-02
   listed $150,000
2. 2026-04-02
   historical
3. 2007-10-03
   soldstatus $86,500
4. 1995-05-13
   soldstatus $57,500
5. 1986-06-01
   soldstatus $52,500

ⓘ 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: $602 · $50/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$253/yr (+$21/mo · 42.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe

Taxation est. · year 1

• Rental income: $17,269
• − Mortgage interest: −$8,402
• − Property taxes: −$602
• − Insurance: −$750
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$4,364
• Taxable income: $388
• Est. tax owed @ 24.0%: −$93
• After-tax cash flow: $2,758/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): 38,041
• Household income: $58,772
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1716.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 48% White 39% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 3% Arabic 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: ▼ -142.10%
• Current HPI: 205.5679
• Rent YoY: ▲ 2.08%
• 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

+185.7% since first listed

5 events — show timeline

• 2026-04-02 Delisted — Consolidated MLS
• 2026-04-02 Listed $150,000 Consolidated MLS
• 2007-10-03 Sold (Public Records) $86,500 Public Records
• 1995-05-13 Sold (Public Records) $57,500 Public Records
• 1986-06-01 Sold (Public Records) $52,500 Public Records

Property tax history

-29.1%/yr

Latest (2017): $602 · +3.8% YoY. Source: county tax records.