2447 Gervais St · Columbia, SC 29204

$665,000

10 bd · 5.0 ba · 2,976 sqft · MultiFamily public records · 36 Days on market

Built 1954 0.29 ac lot

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Why this score? — see what drove the F 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 +8.1/30.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Renovated five-unit complex convenient to USC and town. Landscaping includes parking lot for 10 cars, roll cart concealed storage, palm trees with uplighting. Tenants pay water and sewer each have seperate meters. Owner may consider Financing !! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Five-unit complex
• 0.29 acre lot
• 10 parking spots

Tags

• FIVE-UNIT COMPLEX
• PARKING LOT FOR 10 CARS
• ROLL CART CONCEALED STORAGE
• PALM TREES WITH UPLIGHTING

Property features AI

Finance

• Other: Pest control handled by owner
• Financial info: Each unit currently rents for $900/month

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Gas paid by tenant; Electricity paid by tenant; Sewer paid by tenant; Cable paid by tenant; Trash service paid by owner
• Home design: Single-story building; Total of 5 residential units
• Construction: Slab foundation
• Exterior features: Block exterior finish; Paved road access; Lawn maintenance handled by owner

Interior

• Bedrooms: Five units with 2 bedrooms each
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Heating: Other (see remarks); heating paid by tenant; Cooling: Other (see remarks)
• Interior features: Five full bathrooms in the building (total); Total heated area about 3,128

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $665k.

Deal economics

• At list price, monthly cash flow is $-665 ($-8k/yr) — negative. Per door: $-222/mo.
• To cash-flow at today's rent, offer at most $548k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $435k (34.5% below list).
• Recommended offer: $435k (34.5% 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 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: Carver-Lyon Elementary (math 27% / reading 27%, grade F, #421 of 597 statewide, top 73%, 387 students, 100% FRL); A. C. Flora High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 1,352 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 47% at this address vs 31% district-wide (+16 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 fast (+4.7%/yr); 116 active listings in the ZIP; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• At $4,354/mo this rent would consume 104% of the median local household income ($50k/yr) (locally 1045% 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 $5k of loan paydown is wiped out by about $20k 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 36 days — a 3% lower offer ($645k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 4y 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 $535k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $435,400 (34.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.65% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.28%
• DSCR: 0.81
• GRM: 12.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.73% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.23×
• Total profit: $-142,614
• Equity at exit: $99,154

10-year hold

• IRR: -12.6%
• Equity multiple: 0.21×
• Total profit: $-146,877
• Equity at exit: $57,497

Cash invested: $186,200 (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 29204

• Home prices YoY: -34.9%
• Rents YoY: 4.7%
• Active inventory: 116
• Price-to-rent: 38.2×

Monthly cashflow live

• Estimated rent: $4,354 high
• Mortgage (P&I): −$3,487
• Tax from tax record: −$340 /mo · $4,078/yr
• Insurance: −$277
• HOA: −$0
• Vacancy / Maint / Mgmt: −$914
• Net cashflow: $-665

Break-even live

Break-even rent $5,195

Max offer price $547,598

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$4,353
Total (3 units)			$4,354

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: $166,250
• Closing costs: $19,950
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-18
   days on market $665,000 Active 36 DOM
2. 2026-06-17
   days on market $665,000 Active 35 DOM
3. 2026-06-16
   remarks 349-char remark
4. 2026-06-16
   days on market $665,000 Active 34 DOM
5. 2026-06-15
   pricedays on market $665,000 Active 33 DOM
6. 2026-06-14
   days on market $675,000 Active 31 DOM
7. 2026-06-10
   days on market $675,000 Active 28 DOM
8. 2026-06-09
   days on market $675,000 Active 27 DOM
9. 2026-06-08
   days on market $675,000 Active 26 DOM
10. 2026-06-07
    days on market $675,000 Active 25 DOM
11. 2026-06-03
    days on market $675,000 Active 21 DOM
12. 2026-06-03
    days on market $675,000 Active 20 DOM
13. 2026-06-01
    days on market $675,000 Active 19 DOM
14. 2026-05-31
    days on market $675,000 Active 18 DOM
15. 2026-05-13
    listed $675,000 Active
16. 2026-04-29
    listed $975
17. 2025-07-11
    historical $900
18. 2025-07-01
    listed $900
19. 2025-05-19
    historical $875
20. 2025-04-24
    listed $875
21. 2025-04-17
    historical $875
22. 2025-04-05
    price $875
23. 2025-02-22
    listed $875
24. 2025-02-01
    historical $875
25. 2024-12-17
    price $875
26. 2024-11-22
    historical $900
27. 2024-11-22
    listed $900
28. 2024-11-16
    price $900
29. 2024-11-02
    listed $925
30. 2024-11-02
    historical $900
31. 2024-09-07
    historical $900
32. 2024-09-07
    listed $900
33. 2024-08-24
    price $900
34. 2024-08-10
    listed $950
35. 2023-03-31
    soldstatus $535,000
36. 2023-03-07
    historical Active - Contingent
37. 2023-02-25
    price $550,000
38. 2023-02-01
    historical
39. 2023-01-28
    status Active
40. 2023-01-13
    historical Active - Contingent
41. 2022-12-29
    listed $549,000 Active
42. 2022-12-27
    listed $549,000 Active
43. 2016-12-01
    soldstatus $70,000

ⓘ 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: $4,078 · $340/mo
• Projected year-2 tax: $4,078 · $340/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $52,248
• − Mortgage interest: −$37,250
• − Property taxes: −$4,078
• − Insurance: −$3,325
• − Repairs & maintenance: −$4,180
• − Management: −$4,180
• − Depreciation: −$19,345
• Taxable loss: −$20,110
• Est. tax savings @ 24.0%: +$4,827
• After-tax cash flow: $-3,149/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): 18,159
• Household income: $50,189
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1045.0

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 0.57)
• Race & ethnicity: Black 48% White 44% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 2% Tagalog/Filipino 1% Arabic 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: ▼ -104.76%
• Current HPI: 195.2246
• Rent YoY: ▲ 4.73%
• 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

+864.3% since first listed

29 events — show timeline

• 2026-05-13 Listed $675,000 Consolidated MLS
• 2026-04-29 Listed for Rent $975 APPFOLIO
• 2025-07-11 Rental Removed $900 APPFOLIO
• 2025-07-01 Listed for Rent $900 APPFOLIO
• 2025-05-19 Rental Removed $875 APPFOLIO
• 2025-04-24 Listed for Rent $875 APPFOLIO
• 2025-04-17 Rental Removed $875 APPFOLIO
• 2025-04-05 Price Changed $875 APPFOLIO
• 2025-02-22 Listed for Rent $875 APPFOLIO
• 2025-02-01 Rental Removed $875 APPFOLIO
• 2024-12-17 Price Changed $875 APPFOLIO
• 2024-11-22 Rental Removed $900 APPFOLIO
• 2024-11-22 Listed for Rent $900 APPFOLIO
• 2024-11-16 Price Changed $900 APPFOLIO
• 2024-11-02 Listed for Rent $925 APPFOLIO
• 2024-11-02 Rental Removed $900 APPFOLIO
• 2024-09-07 Rental Removed $900 APPFOLIO
• 2024-09-07 Listed for Rent $900 APPFOLIO
• 2024-08-24 Price Changed $900 APPFOLIO
• 2024-08-10 Listed for Rent $950 APPFOLIO
• 2023-03-31 Sold (Public Records) $535,000 Public Records
• 2023-03-07 Contingent — Consolidated MLS
• 2023-02-25 Price Changed $550,000 Consolidated MLS
• 2023-02-01 Listing Removed — WUMLS
• 2023-01-28 Relisted — Consolidated MLS
• 2023-01-13 Contingent — Consolidated MLS
• 2022-12-29 Listed $549,000 WUMLS
• 2022-12-27 Listed $549,000 Consolidated MLS
• 2016-12-01 Sold (Public Records) $70,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $4,078 · -72.1% YoY. Source: county tax records.