38 Dovecreek Dr · Columbia, SC 29229

$250,000

3 bd · 3.0 ba · 2,066 sqft · SingleFamily public records · 81 Days on market

Built 1991 9,147 sqft lot Est $300k · 17% under $85/mo HOA · 4% of rent

---

Why this score? — see what drove the D+ 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).

• ARV discount +14.9/15.0
• Cash flow +13.8/30.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 38 Dove Creek Dr, a beautifully maintained traditional home tucked away on a quiet cul-de-sac in the highly sought-after Summit community. This home has over 2,000 square feet of thoughtfully designed living space, this 3-bedroom, 2.5-bathroom home perfectly blends comfort, functionality, and charm. Step inside to a spacious and inviting floor plan, highlighted by a cozy fireplace in the great room—ideal for relaxing during South Carolina’s cooler months. The main level flows effortlessly, providing plenty of room for everyday living as well as hosting family and friends. Upstairs, the primary suite serves as a peaceful retreat, while two additional bedrooms has flexi

Key facts

• 9,147 sq ft lot
• 2 garage spots
• Built 1991

Property features AI

Finance

• HOA & community: Property is part of an association

Exterior

• Parking: Attached garage on main level; Two garage spaces (two parking spaces total)
• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Crawlspace foundation
• Exterior features: Dock; Sprinkler system; Aluminum exterior finish; Partial wood rear fencing

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Master bedroom on second level; Bedroom 2 on second level; Bedroom 3 on second level
• Bathrooms: Two full bathrooms; One half bathroom; One partial bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: One fireplace
• Laundry & utility: Washer and dryer on main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $22 ($266/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 $212k (15.3% below list).
• Recommended offer: $212k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in Columbia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rice Creek Elementary (math 36% / reading 34%, grade F, #339 of 597 statewide, top 57%, 737 students, 76% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 68% FRL vs 38% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 417 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 34% 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 $2k of loan paydown is wiped out by about $8k 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 81 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $122k; list at $250k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,692 (15.3% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $299,570
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 Barony Place Dr	0.66mi	4/2.0 (+1)	1,800 (-13%)	14mo	$261,500	$145	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-39,518
• Equity at exit: $37,276

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-34,307
• Equity at exit: $21,615

Cash invested: $70,000 (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 29229

• Home prices YoY: -21.5%
• Rents YoY: 2.8%
• Active inventory: 417
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,117 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$104
• HOA: −$85
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $22

Break-even live

Break-even rent $2,089

Max offer price $250,000

Occupancy floor 94%

Sensitivity live

Price	-10% $164	-5% $93	+0% $22	+5% $-49	+10% $-119
Rent	-10% $-145	-5% $-61	+0% $22	+5% $106	+10% $189
Rate	-1.0pp $148	-0.5pp $86	base $22	+0.5pp $-43	+1.0pp $-109

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Castle Ridge Dr Columbia, SC	3.0	2.0	1753	$2,150	$1.23	5d	1	0.13mi
201 Clearmeadow Dr Columbia, SC	3.0	2.0	2423	$2,379	$0.98	4d	1	0.48mi
520 Timber Crest Dr Columbia, SC	4.0	2.5	2195	$2,250	$1.03	25d	1	0.55mi
219 Pineclave Cir Columbia, SC	4.0	3.0	2300	$2,000	$0.87	25d	1	0.80mi
1116 Waverly Place Ln Columbia, SC	3.0	2.0	1428	$1,875	$1.31	16d	1	0.82mi
214 Elders Pond Dr Columbia, SC	3.0	2.5	1400	$1,350	$0.96	13d	1	1.00mi
5 Elders Pond Ct Columbia, SC	3.0	2.5	1640	$1,795	$1.09	16d	1	1.00mi
221 Fox Grove Cir Unit 1 Columbia, SC	4.0	2.0	2046	$1,700	$0.83	4d	1	1.04mi
499 Fox Trot Dr Columbia, SC	4.0	2.5	2006	$2,195	$1.09	5d	1	1.11mi
252 Bassett Loop Columbia, SC	4.0	3.0	2260	$2,295	$1.02	25d	1	1.24mi
313 Brook Hollow Dr Columbia, SC	3.0	3.0	1879	$1,700	$0.90	16d	1	1.39mi

HOA detail

• Monthly dues: $85 · $1,020/yr

Listing history 20 events

1. 2026-06-22
   days on market $250,000 Active 81 DOM
2. 2026-06-18
   days on market $250,000 Active 78 DOM
3. 2026-06-17
   days on market $250,000 Active 77 DOM
4. 2026-06-16
   days on market $250,000 Active 76 DOM
5. 2026-06-15
   days on market $250,000 Active 75 DOM
6. 2026-06-14
   days on market $250,000 Active 73 DOM
7. 2026-06-13
   days on market $250,000 Active 72 DOM
8. 2026-06-10
   days on market $250,000 Active 70 DOM
9. 2026-06-09
   days on market $250,000 Active 69 DOM
10. 2026-06-08
    days on market $250,000 Active 68 DOM
11. 2026-06-07
    days on market $250,000 Active 67 DOM
12. 2026-06-05
    pricedays on market $250,000 Active 64 DOM
13. 2026-06-03
    days on market $260,000 Active 63 DOM
14. 2026-06-03
    days on market $260,000 Active 62 DOM
15. 2026-06-01
    days on market $260,000 Active 61 DOM
16. 2026-05-31
    days on market $260,000 Active 60 DOM
17. 2026-04-02
    listed $260,000 Active
18. 1995-08-15
    soldstatus $122,000
19. 1991-11-18
    soldstatus $105,500
20. 1991-03-08
    soldstatus $70,800

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $1,800 · $150/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: $25,403
• − Mortgage interest: −$14,004
• − Property taxes: −$1,800
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − HOA: −$1,020
• − Depreciation: −$7,273
• Taxable loss: −$4,008
• Est. tax savings @ 24.0%: +$962
• After-tax cash flow: $1,228/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

+267.2% since first listed

4 events — show timeline

• 2026-04-02 Listed $260,000 Consolidated MLS
• 1995-08-15 Sold (Public Records) $122,000 Public Records
• 1991-11-18 Sold (Public Records) $105,500 Public Records
• 1991-03-08 Sold (Public Records) $70,800 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,800 · +3.6% YoY. Source: county tax records.