232 Grimes Rd · Columbia, SC 29061

$229,900

3 bd · 2.0 ba · 2,432 sqft · Manufactured public records · 5 Days on market

Built 2007 3.03 ac lot

---

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).

• Cash flow +18.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Additional pictures will be added soon * * Peaceful Country Living on Your Own Private HomesteadEscape to the quiet of the countryside with this spacious 4-bedroom, 3-bath home offering the perfect blend of comfort, functionality, and outdoor living. Whether you dream of gardening, raising chickens, or simply enjoying the beauty of nature, this property has everything you need. Step inside and be welcomed by a charming screened-in front porch, an open-concept living area, and generously sized bedrooms throughout. The family room features a cozy wood-burning fireplace, perfect for gathering on cool evenings. The kitchen is designed for both everyday living and entertaining, with a larg

Key facts

• Large center island
• Built-in dresser
• Ensuite bath

Tags

• SCREENED-IN FRONT PORCH
• WOOD-BURNING FIREPLACE
• LARGE CENTER ISLAND
• DOUBLE-SIZED WALK-IN CLOSET
• BUILT-IN DRESSER
• ENSUITE BATH

Property features AI

Exterior

• Parking: Attached carport with lower-level access; Two garage/carport spaces
• Utilities: Well water; Septic sewer
• Home design: Single-story property
• Construction: Crawlspace foundation
• Exterior features: Vinyl exterior finish; Paved road access; Property includes approximately 3.03 acres; Well water

Interior

• Kitchen: Eat-in kitchen with island and pantry; Laminate flooring in kitchen; Dishwasher; Built-in microwave
• Bedrooms: Master bedroom on main level with double vanity, garden tub, private bath, walk-in closet, and carpeted floors; Bedroom 2 on main level with double vanity, tub/shower, Jack & Jill bath, and private closet; Bedroom 3 on main level with double vanity, tub/shower, Jack & Jill bath, private closet, and carpeted floors; Bedroom 4 on main level with private bath, private closet, and carpeted floors
• Flooring: Carpet in bedrooms; Laminate flooring in living areas and kitchen
• Bathrooms: Three full bathrooms (all full baths listed)
• Heating & cooling: Central cooling; Central electric heating
• Interior features: Wood-burning fireplace; Built-in microwave; Counter cooktop with smooth surface
• Laundry & utility: Laundry on main level in mud/utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/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 $200k (13.1% below list).
• Recommended offer: $200k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: Horrell Hill Elementary (math 17% / reading 17%, grade F, #515 of 597 statewide, top 89%, 562 students, 100% FRL); Lower Richland High (math 5% / reading 64%, grade F, #185 of 196 statewide, top 94%, 1,244 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: 328 active listings in the ZIP; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 40% of the median local income ($60k/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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; list at $230k implies a 109% 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 $199,724 (13.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 0.87% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.79%
• DSCR: 1.17
• GRM: 9.6

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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-24,421
• Equity at exit: $34,279

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-5,023
• Equity at exit: $19,878

Cash invested: $64,372 (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 29061

• Home prices YoY: -22.8%
• Active inventory: 328
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,997 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $203

Break-even live

Break-even rent $1,740

Max offer price $229,900

Occupancy floor 85%

Sensitivity live

Price	-10% $333	-5% $268	+0% $203	+5% $138	+10% $73
Rent	-10% $45	-5% $124	+0% $203	+5% $282	+10% $361
Rate	-1.0pp $319	-0.5pp $262	base $203	+0.5pp $144	+1.0pp $83

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-07
   statusdays on market $229,900 Pending 5 DOM
2. 2026-06-03
   days on market $229,900 Active 3 DOM
3. 2026-06-03
   days on market $229,900 Active 2 DOM
4. 2026-06-01
   remarks 699-char remark
5. 2026-06-01
   listed $229,900 Active 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: $880 · $73/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$430/yr (+$36/mo · 48.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $23,967
• − Mortgage interest: −$12,878
• − Property taxes: −$880
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$6,688
• Taxable loss: −$1,463
• Est. tax savings @ 24.0%: +$351
• After-tax cash flow: $2,788/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

• County: Richland County · 389,530 people
• City population: 335,994
• Metro: Columbia, SC
• Population (ZIP): 12,538
• Household income: $60,307
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 236.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Italian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -57.44%
• Current HPI: 194.8986
• Rent YoY: —
• 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

+666.3% since first listed

3 events — show timeline

• 2026-05-31 Listed $229,900 Consolidated MLS
• 2009-03-18 Sold (Public Records) $110,000 Public Records
• 2006-08-02 Sold (Public Records) $30,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $880 · +4.0% YoY. Source: county tax records.