1001 Swan Ln

Columbia, SC 29203

$144,000C-

3 bd · 2.0 ba · 1,056 sqft · Built 1970 · SingleFamily · Active · 185 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,455/mo
• Mortgage (P&I): −$755
• Tax + insurance: −$180
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $214/mo
• Annual: $2,567/yr
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• 1% rule: 1.01%
• Cash to close: $40,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $144k).
• It's been on market 185 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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: Forest Heights Elementary (math 12% / reading 12%, grade F, #572 of 597 statewide, top 97%, 441 students, 100% FRL); Eau Claire High (math 22% / reading 84%, grade C-, #139 of 196 statewide, top 71%, 627 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 (+2.5%/yr); 240 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y ago 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.
• Current owner paid $14k; list at $144k implies a 929% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 8.1% 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.
• This rent runs 38% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.