201-203 Tryon St · Columbia, SC 29201

$199,000

4 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 3 Days on market

Built 1940 9,583 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent Investment Opportunity in Granby Hill – Prime USC Rental Market! Rare opportunity to own a duplex in the heart of one of Columbia’s most desirable neighborhoods for USC student housing. Located in the historic Granby Hill area (Olympia neighborhood), this property is just a short walk to Founders Park (Gamecocks Baseball Stadium), the Mills Village Riverlink, and the Three Rivers Greenway. It’s also less than a mile to Williams-Brice Stadium – ideal for attracting student renters and Gamecock fans alike. This classic duplex offers a total of 1920 sq. ft. , with 2 bedrooms and 1 bathroom on one side and one side has one large room upstairs that has potential

Key facts

• 9,583 sq ft lot
• 4 parking spots
• Built 1940

Tags

• DUPLEX IN GRANBY HILL
• HISTORIC GRANBY HILL AREA
• SHORT WALK TO FOUNDERS PARK
• IMMEDIATE RENTAL INCOME
• LONG-TERM VALUE-ADD POTENTIAL

Property features AI

Finance

• Other: Pest control paid by tenant
• Financial info: Total of 2 units; Unit 1 rent: $950

Exterior

• Parking: Off-street parking for 4 vehicles
• Utilities: Public water; Public sewer (sewer costs paid by owner); Tenant pays gas and electricity; Tenant pays trash and cable
• Home design: 2-story building; Crawlspace foundation
• Construction: Crawlspace foundation
• Exterior features: Vinyl exterior; Tenant responsible for lawn maintenance; Paved road access

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath; Total full baths (both units): 2
• Heating & cooling: Central heating; Central cooling; Heating costs paid by owner
• Interior features: Two-unit duplex

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $750/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Cap rate 15.3% 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: A. C. Moore Elementary (math 52% / reading 47%, grade D, #168 of 597 statewide, top 31%, 204 students, 100% FRL); Dreher High (math 47% / reading 92%, grade B, #60 of 196 statewide, top 32%, 1,150 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 60% at this address vs 31% district-wide (+28 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 (+3.2%/yr); 114 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• At $3,572/mo this rent would consume 133% of the median local household income ($32k/yr) (locally 3456% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $199,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.79% ✓
• Cap rate: 15.34%
• Cash-on-cash: 32.32%
• DSCR: 2.44
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.18% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.15×
• Total profit: $63,999
• Equity at exit: $29,672

10-year hold

• IRR: 35.2%
• Equity multiple: 4.26×
• Total profit: $181,552
• Equity at exit: $17,206

Cash invested: $55,720 (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 29201

• Rents YoY: 3.2%
• Active inventory: 114
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,572 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$195 /mo · $2,337/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $1,501

Break-even live

Break-even rent $1,672

Max offer price $199,000

Occupancy floor 53%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,572
Total (2 units)			$3,572

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Lincoln St Unit 126 Columbia, SC	3.0	2.5	1750	$2,800	$1.60	14d	1	0.48mi
521 Georgia St Columbia, SC	4.0	2.0	2160	$3,500	$1.62	19d	1	0.50mi
919 Catawba St Columbia, SC	3.0	3.0	1334	$1,100	$0.82	23d	1	0.54mi
1110 Slann Dr Cayce, SC	5.0	3.0	1904	$3,749	$1.97	23d	1	0.64mi
840 Ohio St Unit 840 Columbia, SC	3.0	2.0	1235	$2,350	$1.90	2d	1	0.75mi
1120 Virginia St Unit 112014-A Columbia, SC	4.0	4.5	1900	$4,280	$2.25	23d	1	0.79mi
611 Lady St Unit b Columbia, SC	3.0	2.5	1600	$2,200	$1.38	23d	1	1.12mi
123 S Pickens St Columbia, SC	3.0	2.0	2000	$2,900	$1.45	23d	1	1.16mi
147 S Pickens St Unit 147 Columbia, SC	3.0	1.0	1302	$1,950	$1.50	23d	1	1.21mi
609 Center St West Columbia, SC	4.0	2.0	1600	$2,800	$1.75	23d	1	1.32mi
127 Rosewood Hills Dr Columbia, SC	3.0	2.5	1475	$2,900	$1.97	14d	1	1.38mi
500 S Bull St Columbia, SC	4.0	2.5	1677	$3,400	$2.03	23d	1	1.40mi

Listing history 3 events

1. 2026-05-27
   listed $199,000 Active
2. 2025-08-11
   historical $1,100
3. 2025-07-11
   listed $1,100

ⓘ 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: $2,337 · $195/mo
• Projected year-2 tax: $2,337 · $195/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe

Taxation est. · year 1

• Rental income: $42,864
• − Mortgage interest: −$11,147
• − Property taxes: −$2,337
• − Insurance: −$995
• − Repairs & maintenance: −$3,429
• − Management: −$3,429
• − Depreciation: −$5,789
• Taxable income: $15,738
• Est. tax owed @ 24.0%: −$3,777
• After-tax cash flow: $14,231/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): 24,605
• Household income: $32,297
• Rent vs Own: 75.0% rent · 25.0% own
• Severe rent burden: 3456.0

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 (64%)
• Race & ethnicity: White 64% Black 24% Hispanic / Latino 4% Asian 4% Two or more races 4%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 7% · China, Canada
• Languages at home: 90% English-only · Spanish 3% Chinese 2% Other Indo-European 2%

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: ▼ -142.00%
• Current HPI: 229.8442
• Rent YoY: ▲ 3.18%
• 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

+17990.9% since first listed

3 events — show timeline

• 2026-05-27 Listed $199,000 Consolidated MLS
• 2025-08-11 Rental Removed $1,100 TURBOTENANT
• 2025-07-11 Listed for Rent $1,100 TURBOTENANT

Property tax history

+2.2%/yr

Latest (2025): $2,337 · +2.1% YoY. Source: county tax records.