214 Carillo Dr

Columbia, SC 29223

$219,990D-

3 bd · 2.5 ba · 1,685 sqft · Built 2026 · Townhouse · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,890/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$367
• HOA: −$70
• Vac / Maint / Mgmt: −$397
• Net cashflow: $-97/mo
• Annual: $-1,164/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• 1% rule: 0.86%
• Cash to close: $61,597

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $220k. Condition is rated good.
• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (14.1% below list).
• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (14.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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: Windsor Elementary (math 21% / reading 23%, grade F, #475 of 597 statewide, top 81%, 537 students, 100% FRL) — zoned schools average 100% FRL vs 38% district-wide (62 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 41% district-wide (-19 pts) — the specific schools serving this property underperform the Richland 02 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 341 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• Richland County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 36% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.