Turner Plan

Columbia, SC 29045

$313,000D

5 bd · 2.5 ba · 2,985 sqft · Built — · SingleFamily · Active · 483 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,704/mo
• Mortgage (P&I): −$1,641
• Tax + insurance: −$522
• HOA: −$0
• Vac / Maint / Mgmt: −$568
• Net cashflow: $-27/mo
• Annual: $-318/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $87,640

Investor read

• This is a 5-bed/2.5-bath single-family listed at $313k.
• At list price, monthly cash flow is $-27 ($-318/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (13.6% below list).
• It's been on market 483 days — a 12% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $270k (13.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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: schools D+, 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.
• Market conditions: Rents rising (+2.7%/yr); 334 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 5.0% in Columbia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 37% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 483 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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.