3801 Wellesley Dr · Columbia, SC 29203-5431

$111,000

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 1 Days on market

Built 1960 0.30 ac lot

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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 +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment property. Convenient to Downtown Columbia and the Riverwalk. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 0.3 acre lot
• Built 1960

Property features AI

Exterior

• Utilities: Public sewer; Public water
• Home design: Single-family property
• Construction: Slab foundation
• Exterior features: Brick exterior above foundation; Paved road access; Public water

Interior

• Bedrooms: Master bedroom on the main level; Bedroom 2 on the main level; Bedroom 3 on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Central heating; Central cooling; Heated living area approximately 1,120
• Interior features: Central heating and central air

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• Cap rate 10.9% 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 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: Edward E. Taylor Elementary (math 5% / reading 24%, grade F, #549 of 597 statewide, top 92%, 225 students, 100% FRL); Columbia High (math 17% / reading 67%, grade F, #174 of 196 statewide, top 90%, 665 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: 1 active listings in the ZIP; 24 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).

Forward outlook

• In year one you build about $4k of equity ($767 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.32% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.39%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.9%
• Equity multiple: 2.30×
• Total profit: $40,410
• Equity at exit: $49,910

10-year hold

• IRR: 23.8%
• Equity multiple: 4.41×
• Total profit: $105,979
• Equity at exit: $76,918

Cash invested: $31,080 (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 29203-5431

• Active inventory: 1
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,462 high
• Mortgage (P&I): −$582
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $425

Break-even live

Break-even rent $925

Max offer price $111,000

Occupancy floor 66%

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3638 Falling Springs Rd Columbia, SC	3.0	2.0	1080	$1,332	$1.23	23d	1	0.32mi
3900 Bentley Dr Columbia, SC	1.0–2.0	1.0–2.0	873	$1,330	$1.52	11d	40	0.64mi
98 Riverview Ct Columbia, SC	3.0	2.0	1257	$1,800	$1.43	14d	1	0.69mi
4501 Bentley Dr Columbia, SC	1.0–3.0	1.0–2.0	946	$1,730	$1.83	11d	18	0.78mi
100 Bryton Trce Columbia, SC	2.0	1.0–2.0	950	$1,215	$1.28	21d	4	0.82mi
328 Northwood St Columbia, SC	3.0	2.5	1461	$2,395	$1.64	23d	1	0.83mi
1100 Skyland Dr Unit R1 Columbia, SC	2.0	2.0	1100	$1,300	$1.18	23d	1	0.91mi
2901 Park St Columbia, SC	3.0	2.0	1288	$2,750	$2.14	23d	1	0.92mi
215 Northwood St Columbia, SC	3.0	2.5	1288	$1,849	$1.44	23d	1	0.97mi
168 Canal Place Cir Columbia, SC	3.0	2.5	1437	$2,250	$1.57	23d	1	1.00mi
521 Pineneedle Rd Columbia, SC	2.0	1.0	725	$1,150	$1.59	23d	1	1.05mi
4030 Gonzales Ave Columbia, SC	2.0	2.0	840	$1,375	$1.64	23d	1	1.11mi
167 Stoneridge Dr Columbia, SC	1.0–2.0	1.0–2.0	900	$1,071	$1.19	11d	27	1.18mi
2617 River Dr Columbia, SC	2.0–3.0	1.0–2.0	1038	$993	$0.96	14d	2	1.21mi
1000 Watermark Pl Columbia, SC	1.0–2.0	1.0–2.0	944	$1,100	$1.17	11d	14	1.24mi
200 Saluda River Rd Columbia, SC	1.0–2.0	1.0–1.5	900	$1,120	$1.24	11d	8	1.27mi
1800 Longcreek Dr Columbia, SC	1.0–3.0	1.0–2.0	986	$1,080	$1.10	11d	62	1.29mi
214 Hanover Ave Unit A Columbia, SC	2.0	1.0	1400	$1,450	$1.04	23d	1	1.31mi
606 Muller Ave Columbia, SC	2.0	1.0	1240	$1,349	$1.09	11d	1	1.32mi
151 Moore Hopkins Ln Unit 303 Columbia, SC	2.0	1.5	953	$700	$0.73	23d	1	1.35mi
1319 Hendrix St Columbia, SC	2.0	1.0	900	$1,050	$1.17	23d	1	1.43mi
313 Cambout St Columbia, SC	2.0	2.0	1100	$1,450	$1.32	23d	1	1.45mi
3606 Medical Dr Unit B Columbia, SC	2.0	1.5	864	$1,100	$1.27	23d	1	1.46mi
1601 Longcreek Dr Columbia, SC	1.0–2.0	1.0–2.0	706	$1,051	$1.49	14d	51	1.49mi

Listing history 2 events

1. 2026-06-14
   remarks 181-char remark
2. 2026-06-14
   listed $111,000 Pending 1 DOM

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $1,230 · $102/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,550
• − Mortgage interest: −$6,218
• − Property taxes: −$1,230
• − Insurance: −$555
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$3,229
• Taxable income: $3,510
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $4,252/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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-06-13 Pending — Consolidated MLS
• 2026-06-12 Listed $111,000 Consolidated MLS

Property tax history

+14.2%/yr

Latest (2025): $1,230 · +2.8% YoY. Source: county tax records.