4928 Norman St · Columbia, SC 29203-0000

$65,000

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 18 Days on market

Built 1955 4,791 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
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits at 4928 Norman Street in Columbia—a classic 3-bedroom, 1-bath brick home offering approximately 940 square feet of single-level living and strong upside for investors or buyers ready to renovate. Built in 1955 and situated on a manageable 0.10-acre lot, the home features a traditional layout with living room and kitchen, a carport, and off-street parking. The property is in poor condition with significant deferred maintenance, including potential roof leaks, exterior wood rot, and an interior in need of full updates, making it ideal for a value-add project. Located just minutes from downtown Columbia, the home provides convenient access to Columbia College, Prisma H

Key facts

• Off street parking
• Central location
• Single level living

Tags

• BRICK HOME
• SINGLE LEVEL LIVING
• CARPORT
• OFF STREET PARKING
• CENTRAL LOCATION
• PROXIMITY TO MAJOR ROADS

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public sewer; Public water
• Home design: Single-story home
• Construction: Brick exterior on all sides above foundation; Crawlspace foundation
• Exterior features: Shed; Partial fencing; Paved road access; Public water

Interior

• Kitchen: Vinyl flooring in kitchen
• Bedrooms: Master bedroom on main level with private closet and shared bath; Bedroom 2 on main level with private closet and shared bath; Bedroom 3 on main level with private closet and shared bath
• Flooring: Hardwood floors in living room
• Bathrooms: One full bathroom (shared)
• Interior features: Attic access; Cable TV available
• Laundry & utility: Laundry on main level in an unheated space

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: Hyatt Park Elementary (math 8% / reading 8%, grade F, #592 of 597 statewide, top 99%, 393 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: 2 active listings in the ZIP; 18 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).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.72% ✓
• Cap rate: 14.75%
• Cash-on-cash: 30.20%
• DSCR: 2.34
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 36.0%
• Equity multiple: 3.03×
• Total profit: $37,007
• Equity at exit: $29,227

10-year hold

• IRR: 36.1%
• Equity multiple: 5.99×
• Total profit: $90,868
• Equity at exit: $45,042

Cash invested: $18,200 (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 29203-0000

• Active inventory: 2
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,119 high
• Mortgage (P&I): −$341
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $458

Break-even live

Break-even rent $539

Max offer price $65,000

Occupancy floor 54%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2308 Manse St Columbia, SC	3.0	1.0	999	$1,300	$1.30	14d	1	0.39mi
3540 White St Columbia, SC	2.0	1.0	725	$1,300	$1.79	23d	1	0.64mi
3015 English Ave Columbia, SC	2.0	1.0	981	$1,250	$1.27	11d	1	0.79mi
3419 Piedmont Ave Columbia, SC	3.0	1.0	1100	$1,195	$1.09	23d	1	0.85mi
3415 Piedmont Ave Unit A Columbia, SC	2.0	1.0	650	$1,000	$1.54	23d	1	0.85mi
3700 West Ave Columbia, SC	1.0–2.0	1.0	750	$850	$1.13	14d	1	0.86mi
1319 Hendrix St Columbia, SC	2.0	1.0	900	$1,050	$1.17	23d	1	0.93mi
2105 Grove St Columbia, SC	2.0	1.0	800	$850	$1.06	23d	1	0.98mi
3606 Medical Dr Unit B Columbia, SC	2.0	1.5	864	$1,100	$1.27	23d	1	1.01mi
2719 Howell Ct Columbia, SC	2.0	1.0	675	$850	$1.26	11d	1	1.01mi
2710 Howell Ct Columbia, SC	2.0	1.0	700	$825	$1.18	14d	1	1.03mi
5779 Ames Rd Columbia, SC	2.0	1.0	895	$1,000	$1.12	14d	1	1.12mi
5779 Ames Rd Unit 13B Columbia, SC	2.0	1.0	895	$1,000	$1.12	11d	1	1.12mi
1612 Ogden St Columbia, SC	2.0	1.0	680	$1,100	$1.62	14d	2	1.24mi
4030 Gonzales Ave Columbia, SC	2.0	2.0	840	$1,375	$1.64	23d	1	1.32mi
2225 Waites Rd Unit 2225A Columbia, SC	2.0	1.0	714	$1,100	$1.54	23d	1	1.42mi
1115 Carter St Columbia, SC	1.0–2.0	1.0	854	$1,405	$1.65	23d	1	1.42mi
5867 Ames Rd Columbia, SC	3.0	1.0	802	$1,200	$1.50	14d	1	1.44mi

Listing history 6 events

1. 2026-06-07
   days on market $65,000 Pending 18 DOM
2. 2026-05-21
   status Pending
3. 2026-05-08
   status Active
4. 2026-04-24
   status Pending
5. 2026-04-20
   listed $65,000 Active
6. 2015-10-15
   soldstatus $1,000,000

ⓘ 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: $693 · $58/mo
• Projected year-2 tax: $693 · $58/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 1/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $13,424
• − Mortgage interest: −$3,641
• − Property taxes: −$693
• − Insurance: −$325
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$1,891
• Taxable income: $4,726
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $4,362/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

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

-93.5% since first listed

5 events — show timeline

• 2026-05-21 Pending — Consolidated MLS
• 2026-05-08 Relisted — Consolidated MLS
• 2026-04-24 Pending — Consolidated MLS
• 2026-04-20 Listed $65,000 Consolidated MLS
• 2015-10-15 Sold (Public Records) $1,000,000 Public Records

Property tax history

-4.8%/yr

Latest (2025): $693 · +2.1% YoY. Source: county tax records.