111 Malisa Dr · Columbia, SC 29229

$225,000

3 bd · 2.0 ba · 1,436 sqft · SingleFamily public records · 32 Days on market

Built 1999 6,098 sqft lot Est $257k · 12% under $37/mo HOA · 2% of rent

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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 +13.1/15.0
• Cash flow +12.6/30.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.7/10.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well Maintained Single Story Home w/ 3 Bedrooms, 2 Full Baths, 2 Car Garage, Fenced Backyard, & a Community Pool 2 Blocks From Listing. Since the Current Owners Purchased the Home Dec. 2013 for Rental Purposes, they have Replaced: the 3 Tab Shingles with Architectural Shingle in Approx. 2015; Hot Water Heater Approx. 2023; Heating & Air Units Approx. 2014; Kitchen Appliance w/ Stainless Steel Appliances 2026; Hall Bathroom's Vanity & Vinyl Floor w/ Tile Floor 2026; Installed Wide Plank Cherry Finished Engineered Hardwood Floors Approx. 2018; & Repainted the Interior 2-3 times as well as the Garage. This Home is Conveniently Located 10 Minutes from North Springs Elemen

Key facts

• Community pool
• Fenced backyard
• 6,098 sq ft lot

Tags

• FENCED BACKYARD
• COMMUNITY POOL
• ARCHITECTURAL SHINGLE
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Community pool
• HOA & community: Community association with pool, playground, green areas and common area maintenance covered

Exterior

• Parking: Attached 2-car garage (main level) and garage opener
• Security: Owned security system; Smoke detector
• Utilities: Public water; Public sewer; Thermopane energy-efficient windows
• Home design: Single-story home; House faces south
• Construction: Vinyl exterior; Slab foundation
• Exterior features: Covered front porch; Patio; Automatic sprinkler system; Privacy wood fence in rear

Interior

• Kitchen: Bar; Eat-in kitchen; Wood cabinets (stained); Pantry; Formica countertops; Tile floor; Dishwasher; Free-standing smooth-surface range
• Bedrooms: Master bedroom with garden tub, private bath, walk-in closet, private closet, engineered hardwood and vinyl floors; Bedroom 2 with shared bath, tub/shower, private closet, engineered hardwood and tile floors; Bedroom 3 with shared bath, tub/shower, private closet, engineered hardwood and tile floors
• Flooring: Engineered hardwood; Vinyl; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan; Garage door opener; Owned security system; Smoke detector; Attic access
• Laundry & utility: Main-level laundry in heated mud room; Electric hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-27 ($-327/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (12.5% below list).
• Recommended offer: $197k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: North Springs Elementary (math 37% / reading 37%, grade F, #315 of 597 statewide, top 55%, 703 students, 78% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 69% FRL vs 38% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 417 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 32% 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 $7k 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 32 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $116k; list at $225k implies a 94% 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 $196,764 (12.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.87% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $257,044
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Curvewood Rd	0.36mi	3/2.5	1,352 (-6%)	8mo	$154,000	$114	64
1007 May Oak Cir	0.73mi	3/2.0	1,342 (-6%)	24mo	$240,000	$179	35

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-38,524
• Equity at exit: $33,548

10-year hold

• IRR: -9.7%
• Equity multiple: 0.41×
• Total profit: $-37,127
• Equity at exit: $19,454

Cash invested: $63,000 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,968 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$271 /mo · $3,252/yr
• Insurance: −$94
• HOA: −$37
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-27

Break-even live

Break-even rent $2,002

Max offer price $220,188

Occupancy floor 96%

Sensitivity live

Price	-10% $100	-5% $36	+0% $-27	+5% $-91	+10% $-155
Rent	-10% $-183	-5% $-105	+0% $-27	+5% $50	+10% $128
Rate	-1.0pp $86	-0.5pp $30	base $-27	+0.5pp $-86	+1.0pp $-145

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 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
1214 Waverly Place Ln Columbia, SC	3.0	2.0	1152	$1,800	$1.56	13d	1	0.63mi
1116 Waverly Place Ln Columbia, SC	3.0	2.0	1428	$1,875	$1.31	16d	1	0.73mi
423 Elders Pond Cir Columbia, SC	2.0	2.0	1125	$1,475	$1.31	21d	1	0.80mi
5 Elders Pond Ct Columbia, SC	3.0	2.5	1640	$1,795	$1.09	16d	1	0.89mi
214 Elders Pond Dr Columbia, SC	3.0	2.5	1400	$1,350	$0.96	13d	1	0.89mi
3 Glen Knoll Ct Columbia, SC	3.0	2.0	1320	$1,699	$1.29	13d	1	0.93mi
512 N Crossing Dr Columbia, SC	3.0	2.0	1302	$1,799	$1.38	25d	1	0.95mi
3 Long Glen Ct Columbia, SC	3.0	2.0	1314	$1,849	$1.41	4d	1	0.98mi
112 Turnstone Way Columbia, SC	3.0	2.0	1145	$1,779	$1.55	4d	1	0.99mi
4500 Hard Scrabble Rd Columbia, SC	1.0–3.0	1.0–2.0	1031	$1,455	$1.41	4d	4	1.07mi
440 Town Center Pl Columbia, SC	1.0–2.0	1.0–2.0	1016	$2,610	$2.57	5d	17	1.28mi
108 Quinton Ln Columbia, SC	3.0	2.0	1052	$1,749	$1.66	23d	1	1.42mi

HOA detail

• Monthly dues: $37 · $444/yr
• Likely covers: waterpool

Listing history 8 events

1. 2026-06-03
   statusdays on market $225,000 Pending 32 DOM
2. 2026-06-03
   days on market $225,000 Active - Contingent 31 DOM
3. 2026-06-01
   days on market $225,000 Active - Contingent 30 DOM
4. 2026-05-31
   days on market $225,000 Active - Contingent 29 DOM
5. 2026-05-20
   historical Active - Contingent
6. 2026-05-02
   listed $225,000 Active
7. 2006-09-12
   soldstatus $115,900
8. 1999-11-19
   soldstatus $90,985

ⓘ 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: $3,252 · $271/mo
• Projected year-2 tax: $3,252 · $271/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 7/10 Severe

Taxation est. · year 1

• Rental income: $23,612
• − Mortgage interest: −$12,603
• − Property taxes: −$3,252
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − HOA: −$444
• − Depreciation: −$6,545
• Taxable loss: −$4,136
• Est. tax savings @ 24.0%: +$993
• After-tax cash flow: $666/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

+147.3% since first listed

4 events — show timeline

• 2026-05-20 Contingent — Consolidated MLS
• 2026-05-02 Listed $225,000 Consolidated MLS
• 2006-09-12 Sold (Public Records) $115,900 Public Records
• 1999-11-19 Sold (Public Records) $90,985 Public Records

Property tax history

-0.6%/yr

Latest (2025): $3,252 · +2.7% YoY. Source: county tax records.