3905 Lamar St · Columbia, SC 29203

$185,000

4 bd · 2.0 ba · 1,916 sqft · SingleFamily public records · 42 Days on market

Built 1950 0.45 ac lot Est $234k · 21% under

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in the heart of Columbia! Located at 3905 Lamar Street, this 4-bedroom, 2-bath home offers approximately 1,916 square feet of opportunity for the right buyer. Property needs significant renovation and is being sold cash only. Ideal for investors, flippers, or buyers looking for a full rehab project with strong upside potential. The property also features a detached structure with potential to be renovated into an additional living space, guest house, or income-producing rental unit. Great opportunity to maximize value and add multiple streams of rental income. The main home has a connected inlaw suite. Conveniently located near downtown Columbia, shopping, dining, and major

Key facts

• Detached structure
• Inlaw suite
• Shopping and dining

Tags

• DETACHED STRUCTURE
• INLAW SUITE
• ADDITIONAL LIVING SPACE
• INCOME PRODUCING RENTAL UNIT
• NEAR DOWNTOWN COLUMBIA
• SHOPPING AND DINING

Property features AI

Finance

• Other: Lot size approximately 0.45 acres; Directions: I-20 to Monticello Rd — Monticello to Duke Ave, home on Lamar on the left

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family property
• Construction: Crawlspace foundation
• Exterior features: Brick exterior above the foundation; Paved road access

Interior

• Kitchen: Wood-natural cabinets; Formica countertops; Free-standing range; Refrigerator
• Bedrooms: Master bedroom on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating on the first level; Window air conditioning units
• Interior features: Wood-burning fireplace (1)
• Laundry & utility: Washer and dryer located on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Edward E. Taylor Elementary (math 5% / reading 24%, grade F, #549 of 597 statewide, top 92%, 225 students, 100% FRL); Eau Claire High (math 22% / reading 84%, grade C-, #139 of 196 statewide, top 71%, 627 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 238 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• At $1,975/mo this rent would consume 51% of the median local household income ($46k/yr) (locally 1980% 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.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.07% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $233,752
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Summerlea Dr	0.67mi	3/2.0 (-1)	1,628 (-15%)	23mo	$199,000	$122	19

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 · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,344
• Equity at exit: $27,584

10-year hold

• IRR: 8.5%
• Equity multiple: 1.63×
• Total profit: $32,724
• Equity at exit: $15,995

Cash invested: $51,800 (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 29203

• Home prices YoY: -31.6%
• Rents YoY: 2.5%
• Active inventory: 238
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,975 high
• Mortgage (P&I): −$970
• Tax from tax record: −$46 /mo · $558/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $466

Break-even live

Break-even rent $1,384

Max offer price $185,000

Occupancy floor 71%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Grand St Columbia, SC	3.0	2.0	1300	$2,000	$1.54	14d	1	0.89mi
2241 Hurst St Columbia, SC	4.0	2.0	1980	$1,595	$0.81	23d	1	0.93mi
1506 Charlton St Columbia, SC	3.0	2.0	1491	$1,500	$1.01	23d	1	1.00mi
5229 Woodbrier St Unit 504 Columbia, SC	3.0	2.5	1360	$1,500	$1.10	23d	1	1.04mi
1007 Edgefield St Columbia, SC	4.0	2.5	2034	$3,000	$1.47	23d	1	1.12mi
27 Bethune Ct Columbia, SC	3.0	2.0	1523	$1,625	$1.07	23d	1	1.24mi
2901 Park St Columbia, SC	3.0	2.0	1288	$2,750	$2.14	23d	1	1.26mi
98 Riverview Ct Columbia, SC	3.0	2.0	1257	$1,800	$1.43	14d	1	1.45mi

Listing history 14 events

1. 2026-06-18
   days on market $185,000 Active 42 DOM
2. 2026-06-17
   days on market $185,000 Active 41 DOM
3. 2026-06-16
   days on market $185,000 Active 40 DOM
4. 2026-06-15
   days on market $185,000 Active 39 DOM
5. 2026-06-14
   days on market $185,000 Active 37 DOM
6. 2026-06-10
   days on market $185,000 Active 34 DOM
7. 2026-06-09
   days on market $185,000 Active 33 DOM
8. 2026-06-08
   days on market $185,000 Active 32 DOM
9. 2026-06-07
   days on market $185,000 Active 31 DOM
10. 2026-06-03
    days on market $185,000 Active 27 DOM
11. 2026-06-03
    days on market $185,000 Active 26 DOM
12. 2026-06-01
    days on market $185,000 Active 25 DOM
13. 2026-05-31
    days on market $185,000 Active 24 DOM
14. 2026-05-07
    listed $185,000 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: $558 · $46/mo
• Projected year-2 tax: $1,054 · $88/mo
• Expected delta: +$496/yr (+$41/mo · 89.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,699
• − Mortgage interest: −$10,363
• − Property taxes: −$558
• − Insurance: −$925
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$5,382
• Taxable income: $2,679
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $4,954/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): 40,653
• Household income: $46,054
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1980.0

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: Predominantly Black (80%)
• Race & ethnicity: Black 80% White 13% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -77.52%
• Current HPI: 168.2114
• Rent YoY: ▲ 2.50%
• 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

1 event — show timeline

• 2026-05-07 Listed $185,000 Consolidated MLS

Property tax history

+1.7%/yr

Latest (2025): $558 · +3.7% YoY. Source: county tax records.