908 Spears Dr · Columbia, SC 29045

$228,000

3 bd · 3.0 ba · 1,629 sqft · SingleFamily public records · 25 Days on market

Built 2007 4,356 sqft lot ↓ 2% since listing

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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 +12.6/30.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* Back on the market at no fault to the seller! The seller has updated the paint in the primary bedroom, and new carpet will be installed upstairs by the seller prior to closing. * Welcome to this beautiful two-story home located in the gated community of Spears Creek Village! From the private front porch to the mature landscaping and charming stone accents, this home offers warm and inviting curb appeal. Featuring 3 bedrooms and 2.5 bathrooms across 1,600+ square feet, the open-concept main level is filled with natural light and designed for comfortable living. The spacious great room with hardwood floors flows seamlessly into the eat-in kitchen, complete with an island, pantry, and amp

Key facts

• Gated community
• Spacious great room
• Private front porch

Tags

• GATED COMMUNITY
• PRIVATE FRONT PORCH
• MATURE LANDSCAPING
• CHARMING STONE ACCENTS
• OPEN-CONCEPT MAIN LEVEL
• SPACIOUS GREAT ROOM

Property features AI

Finance

• HOA & community: Property is part of an association

Exterior

• Parking: Attached garage with space for 1 vehicle
• Utilities: Public sewer
• Home design: Single-family property (two-story implied by bedroom levels)
• Construction: Slab foundation
• Exterior features: Partial brick above foundation exterior; Vinyl siding; Paved road access; Public water

Interior

• Bedrooms: Master bedroom on the second level; Second bedroom on the second level; Third bedroom on the second level
• Bathrooms: Two full bathrooms; One half bathroom
• Interior features: Central heating and central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $-30 ($-360/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (14.2% below list).
• Recommended offer: $196k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 5.1% in Columbia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents rising (+2.7%/yr); 346 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $2k of loan paydown is wiped out by about $7k 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 25 days — a 2% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $195,651 (14.2% 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. 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. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.56%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-39,417
• Equity at exit: $33,996

10-year hold

• IRR: -10.2%
• Equity multiple: 0.39×
• Total profit: $-39,067
• Equity at exit: $19,713

Cash invested: $63,840 (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

• Home prices YoY: -17.9%
• Rents YoY: 2.7%
• Active inventory: 346
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,957 high
• Mortgage (P&I): −$1,196
• Tax est. 1.5%: −$285 /mo · $3,420/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-30

Break-even live

Break-even rent $1,995

Max offer price $223,657

Occupancy floor 97%

Sensitivity live

Price	-10% $128	-5% $49	+0% $-30	+5% $-109	+10% $-188
Rent	-10% $-185	-5% $-107	+0% $-30	+5% $47	+10% $125
Rate	-1.0pp $85	-0.5pp $28	base $-30	+0.5pp $-89	+1.0pp $-149

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 Spears Creek Church Rd Elgin, SC	1.0–2.0	1.0–2.0	1038	$1,460	$1.41	5d	5	0.43mi
10682 Two Notch Rd Elgin, SC	1.0–3.0	1.0–2.0	1052	$1,675	$1.59	4d	10	0.85mi
430 Grand National Ln Elgin, SC	4.0	2.5	2060	$2,049	$0.99	4d	1	1.20mi
1102 Semoran Way Columbia, SC	3.0–4.0	2.5	1488	$1,730	$1.16	4d	16	1.23mi
837 Peony LN Columbia, SC	3.0	2.5	1996	$2,500	$1.25	23d	1	1.37mi
1315 Montford Dr Elgin, SC	4.0	3.0	1959	$2,300	$1.17	16d	1	1.40mi

Listing history 6 events

1. 2026-05-15
   status Pending
2. 2026-05-05
   historical Active - Contingent
3. 2026-04-24
   price $228,000
4. 2026-04-24
   status Active
5. 2026-04-19
   status Pending
6. 2026-04-17
   listed $232,000 Active

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

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: $23,478
• − Mortgage interest: −$12,772
• − Property taxes: −$3,420
• − Insurance: −$1,140
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − Depreciation: −$6,633
• Taxable loss: −$4,243
• Est. tax savings @ 24.0%: +$1,018
• After-tax cash flow: $658/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 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

• County: Kershaw County · 47,655 people
• City population: 31,372
• Metro: Columbia, SC
• Population (ZIP): 31,372
• Household income: $87,366
• Rent vs Own: 14.8% rent · 85.2% own
• Severe rent burden: 204.0

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: White 53% Black 31% Hispanic / Latino 9% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Korean 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: ▼ -45.60%
• Current HPI: 209.2469
• Rent YoY: ▲ 2.70%
• 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

-1.7% since first listed

6 events — show timeline

• 2026-05-15 Pending — Consolidated MLS
• 2026-05-05 Contingent — Consolidated MLS
• 2026-04-24 Price Changed $228,000 Consolidated MLS
• 2026-04-24 Relisted — Consolidated MLS
• 2026-04-19 Pending — Consolidated MLS
• 2026-04-17 Listed $232,000 Consolidated MLS

Property tax history

-9.2%/yr

Latest (2025): $399 · +3.4% YoY. Source: county tax records.