Shandon is Columbia’s established interior neighborhood — Devine Street corridor, 1920s–1950s bungalows, and USC professional renter demand within walk or short drive of campus and Five Points.
Hard money loans in Shandon fund acquisitions when probate listings, failing HVAC, and 14-day close requirements eliminate conventional buyers.
Shandon economics (2026)
| Asset | As-is | Rehab | Rent / ARV |
|---|---|---|---|
| 3/2 bungalow | $205K–$265K | $48K–$68K | $1,650–$1,900/mo |
| 2/1 value-add | $185K–$235K | $52K–$72K | $1,450–$1,650/mo |
| Cosmetic flip | $225K–$265K | $38K–$52K | ARV $305K–$345K |
Richland County reassessment after purchase can increase tax 15%–25% — model investor bill in DSCR files.
Hard money terms
8.99%–13.5% interest-only · up to 100% of cost on qualified files, capped at 75% of after-repair value · 6–12 month flip terms (bridge 12–24 months) · 7–10 business day close · draws inside that cap
Hub: Columbia hard money · DSCR SC.
Worked example: Devine Street BRRRR
Purchase: $242,000 — 1938 3/2, HVAC end-of-life, kitchen dated. Rehab: $58,000 systems + kitchen/bath + exterior. Hard money example: 75% of the $312,000 appraisal is $234,000. That is lower than the $300,000 all-in cost ($242,000 plus $58,000). Example rate 10.5% interest-only, inside 8.99%–13.5%. Lease: $1,825/mo — USC hospital professional, 12-month term. Appraisal: $312,000 DSCR refi 75% LTV: $234,000 @ 6.95% — DSCR ~1.18 after taxes and 8% management.
Shandon rewards documented rent over pro forma — lease before permanent refi application.
Risks
Over-improving beyond block — match ARV to Devine Street comps, not Forest Acres premium outliers. Tree root sewer damage common on mature lots — scope lateral before draw schedule. Street parking affects rent on smaller 2/1 stock.
Related: Forest Acres · SC landlord guide.
Devine Street corridor and USC hospital professional tenant profile
Shandon rewards documented professional tenants — USC hospital, state government, and Five Points service employment support $1,750–$1,925/mo on renovated 3/2 when off-street parking is resolved. Devine Street retail adjacency adds walkability premium $10K–$22K over interior Tremont blocks.
| Vintage stock | As-is buy | Rehab surprises | Stabilized rent |
|---|---|---|---|
| 1920s–1930s bungalow | $198K–$248K | Knob-and-tube, laterals | $1,650–$1,850/mo |
| 1940s–1950s cottage | $212K–$262K | Cast iron, unpermitted garage | $1,725–$1,900/mo |
| Cosmetic flip candidate | $228K–$258K | Light scope only | ARV $312K–$342K |
Tree root sewer damage on mature Oak and Maple lots — camera lateral before LOI; $6K–$12K repair common on pre-1950 stock.
Worked example: $248K Devine-area 3/2 + $62K panel/HVAC/kitchen → $1,875/mo USC hospital lease. SC DSCR 74% LTV on $318K appraisal → 1.19. Hub: Columbia hard money · Guide: SC landlord-friendly.
Shandon carry example: on a $234,000 balance at 10.5% interest-only, one month of interest is $2,048. Price extra months off the capped balance, not off 90% of cost, and only if that balance is also within 75% of after-repair value.
Shandon, Columbia file package: operating agreement, three sold comps within 0.5 mi, line-item scope, and investor hazard quote and tax card — thin packages lose 7–10 day close slots.
Knob-and-tube remediation and Five Points parking constraints
Shandon pre-1950 stock frequently carries knob-and-tube remnants and unpermitted garage conversions — $8K–$18K electrical scope beyond panel replacement; unpermitted GLA fails appraisal until cured or excluded.
| Surprise | Frequency | Scope cost |
|---|---|---|
| Knob-and-tube active | 30%–40% pre-1940 | $8K–$15K |
| Garage conversion | 15%–20% | $5K–$12K cure |
| Tree root lateral | 25%–35% mature lots | $6K–$12K |
Parking constraints on 2/1 stock without driveway — rent caps $100–$175/mo below parked comparables.
Worked BRRRR: $242K + $58K systems/kitchen → $1,825/mo USC professional lease. 75% LTV DSCR on $312K → 1.18. Hub: Columbia hard money · Forest Acres.
Underwrite Shandon, Columbia at the block level: dual drive-bys, adjacent parcel documentation, and GIS vacancy confirmation before you anchor ARV.
Backup hold on Shandon, Columbia: sub-12% flip spread means model DSCR hold before cosmetic escalation — dual-exit files survive 2026 DOM pressure.
Bank files on Shandon, Columbia require habitable CO and updated panels; hard money bridges as-is acquisition with inspection-based draws for flip or hold refi.
Shandon, Columbia DSCR path: executed lease (12+ months), stabilized rent, then appraisal — MTM tenants and pro forma rents fail investor refi in current underwriting.
Shandon — Richland comp and flood gates
Shandon ARV lives on tree-street solds within 0.5 mi — not Northeast Richland or Lexington imports. Congaree flood fringe parcels need FEMA map pull before permanent DSCR; hard money closes as-is so you control EC timing.
Reserve 90 days IO on pre-1940 mechanical scope. Columbia hard money · Submit scenario.
Shandon tree-street ARV discipline
Mature canopy and setback rules limit second-story additions — verify zoning before you model ARV with dormer scope. Richland reassessment post-rehab belongs in hold pro forma.
Columbia hub · (833) 264-7776.
Shandon draw cadence — pre-1940 electrical
Knob-and-tube active on 30%–40% of Shandon tree-street stock — price $8K–$15K panel and rewiring in scope before demo, not at draw two. USC and Five Points tenants expect working HVAC before premium rent; camera laterals on mature lots before LOI. Pull Richland GIS vacancy on adjacent parcels before you anchor ARV.
Shandon — Richland tree-street file gates (2026)
Shandon files fail when Northeast Richland comps price tree-street ARV, or when knob-and-tube scope is deferred past draw one on pre-1940 bungalows. Congaree flood fringe needs FEMA pull before permanent DSCR.
- Reassessment: Richland post-rehab +15%–25% tax in hold pro forma
- Block walk: Adjacent vacancy caps rent $75–$150/mo despite interior finish
- Dual exit: Sub-12% flip spread — model USC lease BRRRR before cosmetic escalation
Bridge 8.99%–13.5% IO · Columbia hub · (833) 264-7776.
Underwriting anchor: Purchase: $242,000 — 1938 3/2, HVAC end-of-life, kitchen dated. — reassessment after purchase can increase tax 15%–25% — model investor bill in DSCR files on Shandon Columbia before IO term (parcel-specific comps only).
Shandon, Columbia — carry and draw discipline (2026)
Shandon economics (2026) sets comp discipline — three solds within 0.5 mi on matching bed/bath, not adjacent-submarket premiums imported from a neighboring corridor on hard money loans shandon columbia files.
Draw releases on Shandon, Columbia should tie to inspection milestones — calendar-based schedules stall when permits or weather push exterior work past your IO reserve.
Reserve two to four months IO beyond rehab on Shandon, Columbia acquisitions. Reassessment: Richland post-rehab +15%–25% tax in hold pro forma.
Pre-Qualify for Shandon Hard Money · (833) 264-7776
Columbia’s 2024 count and the FY 2027 Richland rent
The Census Bureau Vintage 2024 file lists Columbia city at 144,788 in the 2024 estimate and 136,207 in the 2020 estimate. That is 8,581 more residents, about 6.3% higher. Source: the Vintage 2024 city file. Shandon is a neighborhood inside the city. The city total will not price a Devine Street bungalow.
HUD’s FY 2027 fair market rent for the Columbia, SC area, including Richland County, is $1,226 for two bedrooms and $1,546 for three bedrooms. Effective October 1, 2026. See the FY 2027 schedule and the Federal Register notice. The worked lease at $1,825 is above both of those bedroom benchmarks. That can be a renovated three-bedroom near campus. It is not “the fair market rent.” Attach the lease and three tree-street comps. A Northeast Richland sale does not prove it.
South Carolina’s 30-day deposit rule
Section 27-40-410 of the South Carolina Residential Landlord and Tenant Act says that when the tenancy ends, the landlord returns the security deposit minus accrued rent and damages from the tenant’s noncompliance with section 27-40-510. Deductions must be itemized in a written notice, with any amount due, within 30 days after the tenancy ends and possession is delivered and the tenant demands the deposit, whichever is later. The tenant has to give a forwarding address in writing. If the landlord wrongfully withholds prepaid rent or the deposit, the tenant may recover three times the amount withheld plus reasonable attorney fees. Read Chapter 40. This describes the statute. It is not advice on a specific lease.
A USC hospital tenant on a 12-month term still triggers this clock at move-out. Budget the deposit handling in the property manager’s fee. Do not assume a campus lease skips the chapter.
The Devine Street balance at 75% of appraisal
Example, keeping the $242,000 purchase, the $58,000 rehab, and the $312,000 appraisal. All-in cost is $300,000. Jaken Finance Group funds the lower of 100% of cost and 75% of after-repair value. Seventy-five percent of $312,000 is $234,000. Interest at 10.5% is $2,048 a month. The DSCR refinance already modeled at $234,000 and 75% loan-to-value matches that dollar amount. Cash-out on a South Carolina DSCR loan goes up to 80% in select markets for qualified borrowers. Rates on that product are 5.75%–10.5%. The example rate of 6.95% sits in that band.
| Figure | Amount |
|---|---|
| All-in cost | $300,000 |
| Hard-money cap at 75% of $312,000 | $234,000 |
| One month of interest at 10.5% | $2,048 |
| Cash the sponsor still brings | about $66,000 |
FHFA’s South Atlantic index rose 1.8% from July 2025 to July 2026 and 0.1% from June to July 2026. Data through July 2026. Released September 29, 2026. See the FHFA monthly report. South Carolina is in that division. A 1.8% year does not justify a Forest Acres comp on a Shandon tree street.
Pre-1940 items that belong in draw one
Shandon bungalows fail draws when the electrical surprise lands after demo.
- Camera the sewer lateral before the offer. Mature oaks push roots into cast iron. A $6,000–$12,000 repair belongs in the scope, not in a change order.
- Test for active knob-and-tube. EPA’s renovation rule also applies if paid work disturbs pre-1978 paint on a house you will rent. See the EPA RRP page.
- Exclude unpermitted garage area from the appraisal until it is legal or removed.
- Model Richland reassessment in the hold, not the seller’s homestead bill.
- Call (833) 264-7776 with three Devine Street solds, the lateral video, and the entity documents. That packet is what supports a 7–10 business day close.
Four percent if you live there, six percent if you rent it
South Carolina taxes an owner-occupied legal residence, and not more than five acres with it, on an assessment equal to 4% of fair market value. That rule is section 12-43-220(c). The same item says the 4% ratio does not apply to residences that are rented, or to a business run for profit on the parcel. Read Chapter 43.
Other real property is assessed at 6% of fair market value under section 12-43-220(e). A Shandon bungalow you hold for rent is in that class. On the same market value, the 6% assessment is one and a half times the 4% assessment.
Illustration, using the $312,000 Devine Street appraisal. Four percent is $12,480. Six percent is $18,720. The extra $6,240 of assessed value is the investor’s starting point before millage. The 4% statute also points to a school-operations exemption in section 12-37-251 for a legal residence. This describes the statute. It is not a tax opinion on your parcel.
Counties appraise on a five-year cycle under section 12-43-217. A county may postpone the new values for one tax year by ordinance. Do not drop the seller’s homestead bill into the hold.