124 Boulters Lock Rd · Irmo, SC 29063

$279,900

4 bd · 2.0 ba · 1,779 sqft · SingleFamily public records · 204 Days on market

Built 1973 0.34 ac lot ↓ 51% 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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW CARPET, NEW PAINT, NEW DRIVEWAY AND NEW SIDEWALK!! HVAC and Roof replaced in 2024!! This Classic brick ranch in popular Old Friarsgate neighborhood in the heart of Irmo. and is DEFINITELY MOVE IN READY! So very hard to find a 4 bedroom brick home in this price range in Dutch Fork Schools! This third acre lot is great for relaxation and entertaining! The home features both formals as well as a large family room with fireplace. The modern and updated kitchen has a nice sized breakfast area overlooking the patio, birds and expansive backyard! This home includes updated refrigerator, washer and dryer, as well as a utility refrigerator in the garage! Relax on your large front porch or

Key facts

• Large family room
• Third acre lot
• Expansive backyard

Tags

• BRICK RANCH
• THIRD ACRE LOT
• LARGE FAMILY ROOM
• MODERN KITCHEN
• BREAKFAST AREA
• EXPANSIVE BACKYARD

Property features AI

Finance

• Other: Cable TV available; Built-ins included

Exterior

• Parking: Attached 2-car garage located at main level
• Utilities: Public water; Public sewer; Storm doors and storm windows
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Covered front porch; Patio; Shed; Privacy wood fence in the rear; Brick exterior above foundation; Paved road access

Interior

• Kitchen: Eat-in kitchen; Solid surface countertops; Painted cabinets; Engineered hardwood floors; Dishwasher; Disposal; Vent-through stove exhaust; Refrigerator
• Bedrooms: Master bedroom on main level with double vanity, private bath, ceiling fan, separate water closet, and carpeted floors; Bedroom 2 on main level with ceiling fan and carpeted floors; Bedroom 3 on main level with ceiling fan and carpeted floors; Bedroom 4 on main level with ceiling fan and carpeted floors
• Flooring: Engineered hardwood in main living areas and kitchen; Carpet in bedrooms and formal living/dining areas
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating and cooling; Heat pump on the first level
• Interior features: Ceiling fans throughout; Garage opener; Smoke detector; Attic with pull-down access; Built-in range features: built-in, continuous clean, convection, counter cooktop, self-cleaning, smooth surface; Masonry wood-burning fireplace (1)
• Laundry & utility: Main-level mud room with washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/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 $223k (20.4% below list).
• Recommended offer: $223k (20.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#38 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F.
• Lexington 05 (suburban): math 47% / reading 55% proficiency, ranked #5 of 80 in SC (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dutch Fork Elementary (math 32% / reading 37%, grade F, #344 of 597 statewide, top 60%, 475 students, 82% FRL); Dutch Fork Middle (math 39% / reading 52%, grade D+, #46 of 229 statewide, top 20%, 921 students, 57% FRL); Dutch Fork High (math 54% / reading 86%, grade B+, #58 of 196 statewide, top 30%, 1,726 students, 52% FRL) — zoned schools average 64% FRL vs 27% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 318 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $8k 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 204 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $280k implies a 405% 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 $222,740 (20.4% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.80% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.78% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.43×
• Total profit: $-44,366
• Equity at exit: $41,734

10-year hold

• IRR: -11.9%
• Equity multiple: 0.35×
• Total profit: $-50,561
• Equity at exit: $24,201

Cash invested: $78,372 (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 29063

• Rents YoY: 0.8%
• Active inventory: 318
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,227 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $94

Break-even live

Break-even rent $2,108

Max offer price $279,900

Occupancy floor 91%

Sensitivity live

Price	-10% $252	-5% $173	+0% $94	+5% $15	+10% $-64
Rent	-10% $-82	-5% $6	+0% $94	+5% $182	+10% $270
Rate	-1.0pp $235	-0.5pp $165	base $94	+0.5pp $21	+1.0pp $-52

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Cornerstone Cir Irmo, SC	3.0	2.0	1867	$2,200	$1.18	25d	1	0.30mi
312 Bow Church Rd Irmo, SC	3.0	2.0	1505	$1,861	$1.24	13d	1	0.45mi
22 Dean Crest Ct Irmo, SC	3.0	2.0	1301	$1,695	$1.30	5d	1	0.77mi
228 Chadford Rd Irmo, SC	3.0	2.0	1318	$1,861	$1.41	16d	1	0.81mi
104 Tuscany Ct Irmo, SC	3.0	2.5	1248	$1,850	$1.48	16d	1	1.38mi
657 Patmore DR Irmo, SC	3.0	2.0	1700	$2,283	$1.34	23d	1	1.47mi
634 Patmore DR Irmo, SC	4.0	3.0	2110	$2,475	$1.17	23d	1	1.47mi

Listing history 5 events

1. 2026-05-18
   status Pending
2. 2026-05-04
   historical Active - Contingent
3. 2025-10-26
   listed $279,900 Active
4. 1986-06-01
   soldstatus $55,480
5. 1980-01-01
   soldstatus $574,008

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,595 · $133/mo
• Expected delta: +$621/yr (+$52/mo · 63.8%)

ⓘ 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 6/10 Major

Taxation est. · year 1

• Rental income: $26,729
• − Mortgage interest: −$15,679
• − Property taxes: −$974
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,138
• − Management: −$2,138
• − Depreciation: −$8,143
• Taxable loss: −$3,743
• Est. tax savings @ 24.0%: +$898
• After-tax cash flow: $2,027/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: Lexington 05
• NCES district ID: 4502820
• Math proficiency: 47% ▼ -7.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $67,732
• Composite: 45.28/100
• National rank: #2656
• State rank: #5 of 80 in SC

Livability — Irmo

• Score: 73/100
• State rank: #38
• US rank: #5024

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment B Housing A+ Health & safety B User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irmo, SC
• County: Richland County · 389,530 people
• City population: 38,201
• Metro: Columbia, SC
• Population (ZIP): 38,201
• Household income: $91,973
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 962.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 26% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 4% Serbian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -130.57%
• Current HPI: 204.0147
• Rent YoY: ▲ 0.78%
• 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

-51.2% since first listed

5 events — show timeline

• 2026-05-18 Pending — Consolidated MLS
• 2026-05-04 Contingent — Consolidated MLS
• 2025-10-26 Listed $279,900 Consolidated MLS
• 1986-06-01 Sold (Public Records) $55,480 Public Records
• 1980-01-01 Sold (Public Records) $574,008 Public Records

Property tax history

+4.0%/yr

Latest (2025): $974 · +3.7% YoY. Source: county tax records.