527 Summit Terrace Ct · Columbia, SC 29229

$154,900

3 bd · 3.0 ba · 1,260 sqft · SingleFamily public records · 49 Days on market

Built 2004 1,611 sqft lot Est $144k · 8% over $64/mo HOA · 3% of rent ↓ 3% since listing

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Why this score? — see what drove the C 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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +7.4/10.0
• ARV discount +4.0/15.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute two-story home with 3 bedrooms/2bathrooms in the Gatewood subdivision in The Summit! Walk in to the open concept downstairs, with new LVP flooring throughout the downstairs living areas, with a half bathroom. The entire home has been freshly painted! Three bedrooms and two full bathrooms located upstairs. Laundry located in the kitchen area. Private outdoor patio area. Property being sold "as-is. " Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 1,611 sq ft lot
• 2 parking spots
• Built 2004

Property features AI

Finance

• HOA & community: Home is part of an association

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Slab foundation
• Exterior features: Vinyl exterior finish; Wood rear-only fence

Interior

• Kitchen: Kitchen on the main level; Luxury vinyl plank floors in kitchen
• Bedrooms: Master bedroom with private bath (located on the second floor); Second bedroom with shared bath (second floor); Third bedroom with shared bath (second floor)
• Flooring: Luxury vinyl plank on main living areas; Carpet in bedrooms
• Bathrooms: Two full bathrooms; One half bathroom; Two additional full second-floor baths
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Luxury vinyl plank flooring in living room, formal dining area, and kitchen; Carpeted bedrooms
• Laundry & utility: Laundry located in a closet off the kitchen on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 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: North Springs Elementary (math 37% / reading 37%, grade F, #315 of 597 statewide, top 55%, 703 students, 78% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 69% FRL vs 38% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 406 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 31% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 49 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.24% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $143,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Curvewood Rd	0.15mi	3/2.5	1,352 (+7%)	8mo	$154,000	$114	72

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,815
• Equity at exit: $23,096

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $27,585
• Equity at exit: $13,393

Cash invested: $43,372 (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 29229

• Home prices YoY: -21.5%
• Rents YoY: 2.8%
• Active inventory: 406
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$812
• Tax from tax record: −$204 /mo · $2,442/yr
• Insurance: −$65
• HOA: −$64
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $370

Break-even live

Break-even rent $1,449

Max offer price $154,900

Occupancy floor 76%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Castle Ridge Dr Columbia, SC	3.0	2.0	1753	$2,150	$1.23	3d	1	0.57mi
112 Turnstone Way Columbia, SC	3.0	2.0	1145	$1,779	$1.55	2d	1	0.58mi
512 N Crossing Dr Columbia, SC	3.0	2.0	1302	$1,799	$1.38	23d	1	0.60mi
440 Town Center Pl Columbia, SC	1.0–2.0	1.0–2.0	1016	$2,610	$2.57	3d	17	0.83mi
1214 Waverly Place Ln Columbia, SC	3.0	2.0	1152	$1,800	$1.56	11d	1	1.00mi
423 Elders Pond Cir Columbia, SC	2.0	2.0	1125	$1,475	$1.31	19d	1	1.01mi
1116 Waverly Place Ln Columbia, SC	3.0	2.0	1428	$1,875	$1.31	14d	1	1.06mi
5 Elders Pond Ct Columbia, SC	3.0	2.5	1640	$1,795	$1.09	14d	1	1.16mi
214 Elders Pond Dr Columbia, SC	3.0	2.5	1400	$1,350	$0.96	11d	1	1.19mi
4500 Hard Scrabble Rd Columbia, SC	1.0–3.0	1.0–2.0	1031	$1,455	$1.41	2d	4	1.25mi
3 Glen Knoll Ct Columbia, SC	3.0	2.0	1320	$1,699	$1.29	11d	1	1.30mi
136 Westport Dr Columbia, SC	3.0	2.0	1303	$1,769	$1.36	21d	1	1.31mi
3 Long Glen Ct Columbia, SC	3.0	2.0	1314	$1,849	$1.41	2d	1	1.42mi

HOA detail

• Monthly dues: $64 · $768/yr

Listing history 17 events

1. 2026-06-18
   days on market $154,900 Active 49 DOM
2. 2026-06-17
   days on market $154,900 Active 48 DOM
3. 2026-06-16
   days on market $154,900 Active 47 DOM
4. 2026-06-15
   days on market $154,900 Active 46 DOM
5. 2026-06-14
   days on market $154,900 Active 44 DOM
6. 2026-06-13
   days on market $154,900 Active 43 DOM
7. 2026-06-10
   days on market $154,900 Active 41 DOM
8. 2026-06-09
   days on market $154,900 Active 40 DOM
9. 2026-06-08
   days on market $154,900 Active 39 DOM
10. 2026-06-07
    days on market $154,900 Active 38 DOM
11. 2026-06-05
    days on market $154,900 Active 35 DOM
12. 2026-06-03
    days on market $154,900 Active 34 DOM
13. 2026-06-03
    days on market $154,900 Active 33 DOM
14. 2026-06-01
    days on market $154,900 Active 32 DOM
15. 2026-05-31
    days on market $154,900 Active 31 DOM
16. 2026-05-13
    price $154,900
17. 2026-04-29
    listed $160,000 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: $2,442 · $204/mo
• Projected year-2 tax: $2,442 · $204/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,006
• − Mortgage interest: −$8,677
• − Property taxes: −$2,442
• − Insurance: −$774
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − HOA: −$768
• − Depreciation: −$4,506
• Taxable income: $2,157
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $3,924/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: Richland County · 389,530 people
• City population: 335,994
• Metro: Columbia, SC
• Population (ZIP): 51,861
• Household income: $74,043
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 1939.0

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 0.56)
• Race & ethnicity: Black 62% White 24% Hispanic / Latino 8% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, South Korea, Jamaica
• Languages at home: 89% 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: ▼ -51.11%
• Current HPI: 186.782
• Rent YoY: ▲ 2.81%
• 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

-3.2% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $154,900 Consolidated MLS
• 2026-04-29 Listed $160,000 Consolidated MLS

Property tax history

-1.4%/yr

Latest (2025): $2,442 · +2.7% YoY. Source: county tax records.