224 N Woodlake Dr · Columbia, SC 29229

$170,000

4 bd · 3.0 ba · 2,640 sqft · SingleFamily public records · 1 Days on market

Built 1992 0.63 ac lot $33/mo HOA · 1% of rent

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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 +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale! Schedule a viewing of this beautiful 4-bedroom, 3-bath home and make it yours! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 0.63 acre lot
• 2 garage spots
• Built 1992

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $792 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 11.9% 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 02 (suburban): math 35% / reading 47% proficiency, ranked #29 of 80 in SC (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bookman Road Elementary (math 47% / reading 52%, grade D, #168 of 597 statewide, top 31%, 499 students, 62% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 61% FRL vs 38% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 41% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Richland 02 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.8%/yr); 406 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 38% of the median local income ($74k/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 $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.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.38% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.97%
• DSCR: 1.89
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.81% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.47×
• Total profit: $22,424
• Equity at exit: $25,348

10-year hold

• IRR: 20.7%
• Equity multiple: 2.73×
• Total profit: $82,518
• Equity at exit: $14,698

Cash invested: $47,600 (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 29229

• Home prices YoY: -21.5%
• Rents YoY: 2.8%
• Active inventory: 406
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,339 high
• Mortgage (P&I): −$891
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$71
• HOA: −$33
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $792

Break-even live

Break-even rent $1,336

Max offer price $170,000

Occupancy floor 61%

Sensitivity live

Price	-10% $888	-5% $840	+0% $792	+5% $744	+10% $696
Rent	-10% $607	-5% $700	+0% $792	+5% $885	+10% $977
Rate	-1.0pp $878	-0.5pp $835	base $792	+0.5pp $748	+1.0pp $703

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
499 Fox Trot Dr Columbia, SC	4.0	2.5	2006	$2,195	$1.09	4d	1	0.59mi
44 Ginkgo Ct Columbia, SC	5.0	3.0	2743	$2,750	$1.00	4d	1	0.60mi
221 Fox Grove Cir Unit 1 Columbia, SC	4.0	2.0	2046	$1,700	$0.83	3d	1	0.71mi
201 Clearmeadow Dr Columbia, SC	3.0	2.0	2423	$2,379	$0.98	3d	1	0.98mi
1964 Lake Carolina Dr Columbia, SC	4.0	2.5	1841	$1,939	$1.05	22d	1	1.05mi
2000 Lake Carolina Dr Columbia, SC	4.0	2.5	1841	$2,089	$1.13	15d	1	1.08mi
219 Pineclave Cir Columbia, SC	4.0	3.0	2300	$2,000	$0.87	24d	1	1.09mi
252 Bassett Loop Columbia, SC	4.0	3.0	2260	$2,295	$1.02	24d	1	1.14mi
456 Edenhall Dr Columbia, SC	4.0	2.5	2158	$2,600	$1.20	24d	1	1.14mi
304 Longfellows Ln Elgin, SC	4.0	2.5	2050	$2,269	$1.11	4d	1	1.20mi
430 Grand National Ln Elgin, SC	4.0	2.5	2060	$2,049	$0.99	3d	1	1.34mi
500 Castle Ridge Dr Columbia, SC	3.0	2.0	1753	$2,150	$1.23	4d	1	1.40mi
1111 Triple Crown Ct Elgin, SC	4.0	2.5	2624	$2,395	$0.91	24d	1	1.50mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 15 events

1. 2026-04-02
   status Pending
2. 2026-04-01
   listed $170,000 Active
3. 2025-11-23
   status Pending
4. 2025-11-21
   listed $275,000 Active
5. 2025-09-17
   status Pending
6. 2025-09-15
   listed $275,000 Active
7. 2021-06-30
   soldstatus $340,000
8. 2021-05-21
   historical
9. 2021-05-19
   listed $324,900 Active
10. 2018-03-05
    soldstatus $257,000
11. 2017-01-09
    soldstatus $257,500
12. 2016-08-10
    price $264,500
13. 1996-05-29
    soldstatus $208,000
14. 1992-07-22
    soldstatus $190,000
15. 1991-09-06
    soldstatus $33,000

ⓘ 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: $719 · $60/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$250/yr (+$21/mo · 34.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,063
• − Mortgage interest: −$9,523
• − Property taxes: −$719
• − Insurance: −$850
• − Repairs & maintenance: −$2,245
• − Management: −$2,245
• − HOA: −$396
• − Depreciation: −$4,945
• Taxable income: $7,139
• Est. tax owed @ 24.0%: −$1,713
• After-tax cash flow: $7,793/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 02
• NCES district ID: 4503390
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $59,684
• Composite: 36.2/100
• National rank: #4730
• State rank: #29 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): 51,861
• Household income: $74,043
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 1939.0

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 0.56)
• Race & ethnicity: Black 62% White 24% Hispanic / Latino 8% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, South Korea, Jamaica
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Korean 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: ▼ -51.11%
• Current HPI: 186.782
• Rent YoY: ▲ 2.81%
• 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

+415.2% since first listed

15 events — show timeline

• 2026-04-02 Pending — Consolidated MLS
• 2026-04-01 Listed $170,000 Consolidated MLS
• 2025-11-23 Pending — Consolidated MLS
• 2025-11-21 Listed $275,000 Consolidated MLS
• 2025-09-17 Pending — Consolidated MLS
• 2025-09-15 Listed $275,000 Consolidated MLS
• 2021-06-30 Sold (Public Records) $340,000 Public Records
• 2021-05-21 Delisted — Consolidated MLS
• 2021-05-19 Listed $324,900 Consolidated MLS
• 2018-03-05 Sold (Public Records) $257,000 Public Records
• 2017-01-09 Sold (Public Records) $257,500 Public Records
• 2016-08-10 Price Changed $264,500 Consolidated MLS
• 1996-05-29 Sold (Public Records) $208,000 Public Records
• 1992-07-22 Sold (Public Records) $190,000 Public Records
• 1991-09-06 Sold (Public Records) $33,000 Public Records

Property tax history

-10.4%/yr

Latest (2025): $719 · +3.6% YoY. Source: county tax records.