3728 Baywater Dr · Columbia, SC 29209

$120,000

3 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 57 Days on market

Built 1970

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1-bath home is the perfect fix-and-flip or rental opportunity! Solid layout, great bones, and tons of potential to add value. Being sold AS-IS — bring your vision and turn this into a cash-flowing rental or profitable flip. Opportunities like this don’t last long! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Built 1970
• Listed 57 days

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Brick exterior on all sides above the foundation; Paved road access; Public water

Interior

• Bedrooms: Master bedroom located on the main level
• Bathrooms: One full bathroom
• Interior features: Central heating and central cooling

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: Caughman Road Elementary (math 22% / reading 27%, grade F, #452 of 597 statewide, top 78%, 707 students, 100% FRL); Hopkins Middle (math 8% / reading 17%, grade F, #213 of 229 statewide, top 94%, 493 students, 100% FRL); Lower Richland High (math 5% / reading 64%, grade F, #185 of 196 statewide, top 94%, 1,244 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 (+2.1%/yr); 298 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 36% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1970 — 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: 1.47% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.77%
• DSCR: 1.84
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.08% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.37×
• Total profit: $12,457
• Equity at exit: $17,892

10-year hold

• IRR: 17.9%
• Equity multiple: 2.42×
• Total profit: $47,634
• Equity at exit: $10,375

Cash invested: $33,600 (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 29209

• Rents YoY: 2.1%
• Active inventory: 298
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,762 high
• Mortgage (P&I): −$629
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $525

Break-even live

Break-even rent $1,097

Max offer price $120,000

Occupancy floor 65%

Sensitivity live

Price	-10% $593	-5% $559	+0% $525	+5% $492	+10% $458
Rent	-10% $386	-5% $456	+0% $525	+5% $595	+10% $665
Rate	-1.0pp $586	-0.5pp $556	base $525	+0.5pp $494	+1.0pp $463

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 Crooked Pine Ct Columbia, SC	3.0	2.0	1399	$1,883	$1.35	25d	1	0.13mi
305 Shoreditch Dr Columbia, SC	3.0	1.5	1378	$1,586	$1.15	20d	1	0.18mi
313 Shoreditch Dr Columbia, SC	3.0	1.5	1056	$1,775	$1.68	25d	1	0.20mi
385 Saskatoon Dr Unit 385 Columbia, SC	3.0	2.0	1330	$2,000	$1.50	25d	1	0.24mi
101 Shagbark Ave Columbia, SC	3.0	1.0	1000	$1,295	$1.29	20d	1	0.74mi
429 Mockernut Ln Columbia, SC	3.0	1.0	1010	$1,250	$1.24	25d	1	0.81mi
329 Ovanta Rd Columbia, SC	3.0	1.5	1100	$1,200	$1.09	25d	1	0.87mi
4022 Ulmer Rd Columbia, SC	2.0–3.0	1.0–2.0	1202	$1,322	$1.10	20d	1	1.06mi

Listing history 8 events

1. 2026-05-09
   status Pending
2. 2026-04-21
   status Active
3. 2026-03-23
   status Pending
4. 2026-02-27
   price $120,000
5. 2026-02-12
   listed $130,000 Active
6. 2010-10-06
   soldstatus $75,000
7. 1990-05-10
   soldstatus $41,061
8. 1985-08-01
   soldstatus $39,000

ⓘ 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: $2,245 · $187/mo
• Projected year-2 tax: $2,245 · $187/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,142
• − Mortgage interest: −$6,722
• − Property taxes: −$2,245
• − Insurance: −$600
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$3,491
• Taxable income: $4,702
• Est. tax owed @ 24.0%: −$1,128
• After-tax cash flow: $5,177/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): 38,041
• Household income: $58,772
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1716.0

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 0.62)
• Race & ethnicity: Black 48% White 39% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 3% Arabic 1% Other Indo-European 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: ▼ -142.10%
• Current HPI: 205.5679
• Rent YoY: ▲ 2.08%
• 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

+207.7% since first listed

8 events — show timeline

• 2026-05-09 Pending — Consolidated MLS
• 2026-04-21 Relisted — Consolidated MLS
• 2026-03-23 Pending — Consolidated MLS
• 2026-02-27 Price Changed $120,000 Consolidated MLS
• 2026-02-12 Listed $130,000 Consolidated MLS
• 2010-10-06 Sold (Public Records) $75,000 Public Records
• 1990-05-10 Sold (Public Records) $41,061 Public Records
• 1985-08-01 Sold (Public Records) $39,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $2,245 · +2.6% YoY. Source: county tax records.