108 Waterford Dr · Columbia, SC 29203

$174,999

3 bd · 1.0 ba · 1,107 sqft · SingleFamily public records · 82 Days on market

Built 1963 10,454 sqft lot

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.9/10.0
• 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

Welcome home to your very own freshly re-imagined 3 bedroom, 1 bathroom brick ranch nestled in the Dunston Hills subdivision! When you arrive you will be greeted with board and batten shutters and stained column-work complimenting the gorgeous brick. Mature trees and a new front fence give this one that new home smell even before you step foot inside. Through the front door you will find a renovated kitchen complete with brand new cabinets, granite countertops, beautiful subway tile backsplash, recessed lighting, and new floor covering all framed in by the gorgeous stained beam and trim work. Check out the built in nook and storage space off the living room--perfect for a bookcase and just

Key facts

• Stained column-work
• Renovated kitchen
• Recessed lighting

Tags

• BOARD AND BATTEN SHUTTERS
• STAINED COLUMN-WORK
• RENOVATED KITCHEN
• GRANITE COUNTERTOPS
• SUBWAY TILE BACKSPLASH
• RECESSED LIGHTING

Property features AI

Exterior

• Parking: Detached carport; Parking for 3 vehicles
• Utilities: Public sewer
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Brick exterior above the foundation; Paved road access; Public water

Interior

• Bedrooms: Master bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Central cooling; Electric heating
• Interior features: Total heated area approximately 1,107

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/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 $173k (1.1% below list).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.1% 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: Forest Heights Elementary (math 12% / reading 12%, grade F, #572 of 597 statewide, top 97%, 441 students, 100% FRL); Heyward Gibbes Middle (math 8% / reading 17%, grade F, #216 of 229 statewide, top 96%, 264 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); 241 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1,731/mo this rent would consume 45% 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 $5k 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 82 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 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 $145k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $164,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-11,456
• Equity at exit: $26,093

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $9,248
• Equity at exit: $15,131

Cash invested: $49,000 (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: 241
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,731 high
• Mortgage (P&I): −$918
• Tax from tax record: −$97 /mo · $1,169/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $280

Break-even live

Break-even rent $1,377

Max offer price $174,999

Occupancy floor 79%

Sensitivity live

Price	-10% $379	-5% $329	+0% $280	+5% $230	+10% $181
Rent	-10% $143	-5% $211	+0% $280	+5% $348	+10% $417
Rate	-1.0pp $368	-0.5pp $324	base $280	+0.5pp $234	+1.0pp $188

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6408 Bishop Ave Columbia, SC	3.0	2.0	1250	$1,850	$1.48	25d	1	0.58mi
2112 Chandler Ave Columbia, SC	3.0	3.0	1350	$1,850	$1.37	25d	1	1.22mi
1808 Laredo Dr Columbia, SC	3.0	2.0	1250	$1,661	$1.33	25d	1	1.24mi
1839 Hi Sierra Dr Columbia, SC	3.0	2.0	1500	$1,731	$1.15	25d	1	1.43mi
214 Hanover Ave Unit A Columbia, SC	2.0	1.0	1400	$1,450	$1.04	25d	1	1.47mi

Listing history 22 events

1. 2026-06-21
   days on market $174,999 Active 82 DOM
2. 2026-06-18
   days on market $174,999 Active 79 DOM
3. 2026-06-17
   days on market $174,999 Active 78 DOM
4. 2026-06-16
   days on market $174,999 Active 77 DOM
5. 2026-06-15
   days on market $174,999 Active 76 DOM
6. 2026-06-14
   days on market $174,999 Active 74 DOM
7. 2026-06-10
   days on market $174,999 Active 71 DOM
8. 2026-06-09
   days on market $174,999 Active 70 DOM
9. 2026-06-08
   days on market $174,999 Active 69 DOM
10. 2026-06-07
    days on market $174,999 Active 68 DOM
11. 2026-06-03
    days on market $174,999 Active 64 DOM
12. 2026-06-03
    days on market $174,999 Active 63 DOM
13. 2026-06-01
    days on market $174,999 Active 62 DOM
14. 2026-05-31
    days on market $174,999 Active 61 DOM
15. 2026-04-17
    price $174,999
16. 2026-03-31
    listed $179,999 Active
17. 2025-12-30
    price $184,999
18. 2025-11-21
    listed $189,000 Active
19. 2022-02-24
    soldstatus $145,000
20. 2022-01-16
    historical
21. 2022-01-07
    listed $160,000 Active
22. 2008-08-20
    soldstatus $66,500

ⓘ 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: $1,169 · $97/mo
• Projected year-2 tax: $1,169 · $97/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 2/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $20,776
• − Mortgage interest: −$9,803
• − Property taxes: −$1,169
• − Insurance: −$875
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − Depreciation: −$5,091
• Taxable income: $515
• Est. tax owed @ 24.0%: −$124
• After-tax cash flow: $3,233/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

• 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

+163.2% since first listed

8 events — show timeline

• 2026-04-17 Price Changed $174,999 Consolidated MLS
• 2026-03-31 Listed $179,999 Consolidated MLS
• 2025-12-30 Price Changed $184,999 Consolidated MLS
• 2025-11-21 Listed $189,000 Consolidated MLS
• 2022-02-24 Sold (Public Records) $145,000 Public Records
• 2022-01-16 Delisted — Consolidated MLS
• 2022-01-07 Listed $160,000 Consolidated MLS
• 2008-08-20 Sold (Public Records) $66,500 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,169 · +4.2% YoY. Source: county tax records.