513 Silver Spoon Ln · Columbia, SC 29045-0000

$240,000

4 bd · 3.0 ba · 1,832 sqft · SingleFamily public records · 9 Days on market

Built 2007 Est $258k · 7% under

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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 +16.3/30.0
• ARV discount +10.7/15.0
• DSCR +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This well-maintained 4 bedroom, 2.5 bath home in Elgin features over 1,800 square feet of comfortable living space. The layout includes spacious living areas, a functional kitchen, and plenty of room for everyday living and entertaining. Enjoy the convenience of a two-car garage and a fenced backyard perfect for relaxing or gathering with friends and family. Located in an established neighborhood with easy access to shopping, dining, and schools. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Functional kitchen
• Fenced backyard
• 2 garage spots

Tags

• FENCED BACKYARD
• FUNCTIONAL KITCHEN
• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO SCHOOLS

Property features AI

Finance

• HOA & community: Homeowners association present; amenities include playground and pool, plus road and sidewalk maintenance

Exterior

• Parking: Attached garage with 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home; Paved road access
• Construction: Slab foundation
• Exterior features: Vinyl exterior; Rear wood fence

Interior

• Kitchen: Granite countertops; Laminate flooring; Dishwasher; Disposal; Smooth surface range
• Bedrooms: Master bedroom on second level with private bath, walk-in closet, tub/shower, ceiling fan, and carpeted floors; Additional bedrooms on second level each with ceiling fan and private closets
• Flooring: Carpet in bedrooms; Laminate flooring in living room and kitchen
• Bathrooms: Two full bathrooms; One half bathroom; Two additional full secondary baths
• Heating & cooling: Central cooling; Gas Pac heating
• Interior features: Smoke detector; Attic access; Loft (on second level)
• Laundry & utility: Laundry closet on second level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/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 $209k (13.1% below list).
• Recommended offer: $209k (13.1% below list) — sets the bar for 1% rule.

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: Bookman Road Elementary (math 47% / reading 52%, grade D, #168 of 597 statewide, top 31%, 499 students, 62% FRL); Spring Valley High (math 53% / reading 92%, grade B+, #46 of 196 statewide, top 24%, 2,187 students, 49% FRL) — zoned schools average 55% FRL vs 38% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 61% at this address vs 41% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Richland 02 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 34 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $155k; list at $240k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $208,504 (13.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $258,312
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
732 Jack Russell Ct	0.53mi	4/2.5	1,920 (+5%)	9mo	$234,990	$122	58
1 Loggerhead Dr	0.47mi	3/2.0 (-1)	1,800 (-2%)	11mo	$268,000	$149	57
396 Longfellows Ln	0.35mi	4/2.5	1,648 (-10%)	17mo	$235,000	$143	51
752 Jack Russell Ct	0.57mi	3/2.5 (-1)	1,714 (-6%)	13mo	$242,000	$141	45
116 Windwood Dr	0.51mi	3/2.5 (-1)	2,095 (+14%)	4mo	$184,000	$88	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.56×
• Total profit: $37,331
• Equity at exit: $107,914

10-year hold

• IRR: 12.1%
• Equity multiple: 2.80×
• Total profit: $120,974
• Equity at exit: $166,309

Cash invested: $67,200 (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 29045-0000

• Active inventory: 34
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$156 /mo · $1,866/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $133

Break-even live

Break-even rent $1,917

Max offer price $240,000

Occupancy floor 89%

Sensitivity live

Price	-10% $269	-5% $201	+0% $133	+5% $65	+10% $-3
Rent	-10% $-32	-5% $51	+0% $133	+5% $215	+10% $298
Rate	-1.0pp $254	-0.5pp $194	base $133	+0.5pp $71	+1.0pp $8

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Grand National Ln Elgin, SC	4.0	2.5	2060	$2,049	$0.99	4d	1	0.07mi
1111 Triple Crown Ct Elgin, SC	4.0	2.5	2624	$2,395	$0.91	25d	1	0.36mi
344 Longfellows Ln Elgin, SC	3.0	2.5	1652	$1,999	$1.21	5d	1	0.41mi
304 Longfellows Ln Elgin, SC	4.0	2.5	2050	$2,269	$1.11	5d	1	0.49mi
10682 Two Notch Rd Elgin, SC	1.0–3.0	1.0–2.0	1052	$1,675	$1.59	4d	10	0.91mi
512 N Crossing Dr Columbia, SC	3.0	2.0	1302	$1,799	$1.38	25d	1	1.26mi

Listing history 6 events

1. 2026-05-18
   listed $240,000 Active
2. 2019-12-30
   soldstatus $155,000
3. 2019-11-24
   historical
4. 2019-11-14
   listed $155,000 Active
5. 2019-10-23
   price $159,900
6. 2009-10-09
   soldstatus $160,000

ⓘ 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: $1,866 · $156/mo
• Projected year-2 tax: $1,866 · $156/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 65% 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: $25,020
• − Mortgage interest: −$13,444
• − Property taxes: −$1,866
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$6,982
• Taxable loss: −$2,474
• Est. tax savings @ 24.0%: +$594
• After-tax cash flow: $2,191/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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+50.0% since first listed

6 events — show timeline

• 2026-05-18 Listed $240,000 Consolidated MLS
• 2019-12-30 Sold (Public Records) $155,000 Public Records
• 2019-11-24 Delisted — Consolidated MLS
• 2019-11-14 Listed $155,000 Consolidated MLS
• 2019-10-23 Price Changed $159,900 Consolidated MLS
• 2009-10-09 Sold (Public Records) $160,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,866 · +3.6% YoY. Source: county tax records.