2629 Magnolia St · Columbia, SC 29204

$149,900

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 37 Days on market

Built 1950 8,712 sqft lot

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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 +16.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• 1% rule +3.1/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Columbia bungalow featuring beautifully refinished hardwood floors and bright natural light throughout. This inviting home offers a comfortable layout with dedicated living and dining spaces, two spacious bedrooms, and a versatile flex room perfect for a home office, guest room, playroom, or creative space. The kitchen features brand new stainless steel appliances and a practical layout designed for easy everyday living. Major improvements include a new roof installed in 2023 and a new tankless hot water heater for added efficiency and long-term value. Conveniently located near downtown Columbia, shopping, dining, and major commuter routes, this home offers an excellent opportunity

Key facts

• Versatile flex room
• Bright natural light
• New roof

Tags

• REFINISHED HARDWOOD FLOORS
• BRIGHT NATURAL LIGHT
• VERSATILE FLEX ROOM
• NEW ROOF
• NEW TANKLESS HOT WATER HEATER

Property features AI

Exterior

• Utilities: Public sewer; Public water
• Home design: Single-story home
• Construction: Vinyl exterior; Crawlspace foundation
• Exterior features: Partial gutters; Covered front porch; Full fencing; Public water

Interior

• Kitchen: Free-standing smooth-surface range
• Bedrooms: Master bedroom on main level with hardwood floors; Second bedroom on main level with hardwood floors
• Flooring: Hardwood flooring in bedrooms and formal dining room; Concrete floors in the formal living room
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Attic access; Free-standing smooth-surface range; Tankless water heater; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $78 ($939/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 $122k (18.7% below list).
• Recommended offer: $122k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Bradley Elementary (math 22% / reading 32%, grade F, #421 of 597 statewide, top 73%, 437 students, 100% FRL); C. A. Johnson High (math 34% / reading 84%, grade C+, #110 of 196 statewide, top 58%, 364 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 43% at this address vs 31% district-wide (+12 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 (+4.7%/yr); 116 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• It's been on market 37 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,828 (18.7% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.73% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.59×
• Total profit: $-17,226
• Equity at exit: $22,351

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $281
• Equity at exit: $12,961

Cash invested: $41,972 (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 29204

• Home prices YoY: -34.9%
• Rents YoY: 4.7%
• Active inventory: 116
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$786
• Tax from tax record: −$36 /mo · $428/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $78

Break-even live

Break-even rent $1,119

Max offer price $149,900

Occupancy floor 89%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2511 Chestnut St Columbia, SC	2.0	1.0	928	$1,300	$1.40	14d	1	0.14mi
2225 Waites Rd Unit 2225A Columbia, SC	2.0	1.0	714	$1,100	$1.54	23d	1	0.23mi
1612 Ogden St Columbia, SC	2.0	1.0	680	$1,100	$1.62	14d	2	0.45mi
2508 Laurel St Unit B Columbia, SC	2.0	1.0	750	$950	$1.27	23d	1	0.52mi
2834 Keats St Columbia, SC	3.0	2.0	921	$2,250	$2.44	14d	1	0.57mi
2413 Laurel St Unit C Columbia, SC	2.0	1.0	800	$900	$1.12	23d	1	0.58mi
2719 Howell Ct Columbia, SC	2.0	1.0	675	$850	$1.26	11d	1	0.83mi
3419 Piedmont Ave Columbia, SC	3.0	1.0	1100	$1,195	$1.09	23d	1	0.84mi
3415 Piedmont Ave Unit A Columbia, SC	2.0	1.0	650	$1,000	$1.54	23d	1	0.84mi
2710 Howell Ct Columbia, SC	2.0	1.0	700	$825	$1.18	14d	1	0.85mi
2455 Gervais St Unit B Columbia, SC	2.0	1.0	650	$1,100	$1.69	23d	1	0.94mi
2105 Grove St Columbia, SC	2.0	1.0	800	$850	$1.06	23d	1	1.03mi
3540 White St Columbia, SC	2.0	1.0	725	$1,300	$1.79	23d	1	1.04mi
3202 Colin Kelly Dr Columbia, SC	2.0	1.0	756	$825	$1.09	23d	1	1.20mi
3015 English Ave Columbia, SC	2.0	1.0	981	$1,250	$1.27	11d	1	1.20mi
1421 Shirley St Columbia, SC	1.0	1.0	750	$750	$1.00	14d	1	1.22mi
2347 Stark St Columbia, SC	2.0	1.0	876	$1,100	$1.26	23d	1	1.22mi
3232 Brookwood Ct Unit A Columbia, SC	2.0	1.0	800	$1,000	$1.25	23d	1	1.28mi
1115 Carter St Columbia, SC	1.0–2.0	1.0	854	$1,405	$1.65	23d	1	1.35mi
2229 Greene St Columbia, SC	3.0	2.0	1050	$1,695	$1.61	19d	1	1.37mi
2223 Greene St Unit 2223 Columbia, SC	1.0	1.0	655	$795	$1.21	23d	1	1.38mi
1012 Laurens St Columbia, SC	2.0	1.0	750	$1,900	$2.53	11d	1	1.40mi
2308 Manse St Columbia, SC	3.0	1.0	999	$1,300	$1.30	14d	1	1.41mi
3700 West Ave Columbia, SC	1.0–2.0	1.0	750	$850	$1.13	14d	1	1.43mi
1930 Marion St Columbia, SC	2.0	1.0	612	$1,500	$2.45	11d	31	1.49mi

Listing history 23 events

1. 2026-06-18
   days on market $149,900 Active 37 DOM
2. 2026-06-17
   days on market $149,900 Active 36 DOM
3. 2026-06-16
   days on market $149,900 Active 35 DOM
4. 2026-06-15
   days on market $149,900 Active 34 DOM
5. 2026-06-14
   days on market $149,900 Active 32 DOM
6. 2026-06-10
   days on market $149,900 Active 29 DOM
7. 2026-06-09
   days on market $149,900 Active 28 DOM
8. 2026-06-08
   days on market $149,900 Active 27 DOM
9. 2026-06-07
   days on market $149,900 Active 26 DOM
10. 2026-06-03
    days on market $149,900 Active 22 DOM
11. 2026-06-03
    days on market $149,900 Active 21 DOM
12. 2026-06-01
    days on market $149,900 Active 20 DOM
13. 2026-05-31
    days on market $149,900 Active 19 DOM
14. 2026-05-10
    listed $149,900 Active
15. 2025-03-30
    historical $1,025
16. 2025-01-31
    price $124,500
17. 2025-01-24
    price $127,500
18. 2025-01-17
    listed $1,025
19. 2024-11-22
    price $129,000
20. 2024-11-12
    status Active
21. 2024-11-04
    status Pending
22. 2024-10-21
    price $129,500
23. 2024-09-30
    listed $130,000 Active

ⓘ 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: $428 · $36/mo
• Projected year-2 tax: $854 · $71/mo
• Expected delta: +$426/yr (+$36/mo · 99.6%)

ⓘ 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 6/10 Major 7 d/yr ≥109°F today · 15 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: $14,619
• − Mortgage interest: −$8,397
• − Property taxes: −$428
• − Insurance: −$750
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$4,361
• Taxable loss: −$1,655
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $1,336/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): 18,159
• Household income: $50,189
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1045.0

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 0.57)
• Race & ethnicity: Black 48% White 44% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 2% Tagalog/Filipino 1% Arabic 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: ▼ -104.76%
• Current HPI: 195.2246
• Rent YoY: ▲ 4.73%
• 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

+15.3% since first listed

10 events — show timeline

• 2026-05-10 Listed $149,900 Consolidated MLS
• 2025-03-30 Rental Removed $1,025 APPFOLIO
• 2025-01-31 Price Changed $124,500 Consolidated MLS
• 2025-01-24 Price Changed $127,500 Consolidated MLS
• 2025-01-17 Listed for Rent $1,025 APPFOLIO
• 2024-11-22 Price Changed $129,000 Consolidated MLS
• 2024-11-12 Relisted — Consolidated MLS
• 2024-11-04 Pending — Consolidated MLS
• 2024-10-21 Price Changed $129,500 Consolidated MLS
• 2024-09-30 Listed $130,000 Consolidated MLS

Property tax history

-7.6%/yr

Latest (2025): $428 · +2.1% YoY. Source: county tax records.