114 Frasier Bay Rd · Columbia, SC 29229

$250,000

3 bd · 2.0 ba · 2,072 sqft · SingleFamily public records · 23 Days on market

Built 2001 8,712 sqft lot $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).

• Cash flow +13.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

All-brick home in an amenity-rich community! This 3-bedroom, 2-bath home offers a functional layout with a formal dining room, eat-in kitchen, and spacious FROG perfect for a home office, playroom, or guest space. The owner?s suite features a private bath and walk-in closet. Enjoy neighborhood amenities including a community pool, playground, and tennis courts. Conveniently located near shopping, dining, and interstates. Home is being sold as-is and is ready for your personal updates and finishing touches - a great opportunity to add your own style and value! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Formal dining room
• Community pool
• Private bath

Tags

• FORMAL DINING ROOM
• EAT-IN KITCHEN
• SPACIOUS FROG
• PRIVATE BATH
• WALK-IN CLOSET
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Homeowners association with community pool, playground and tennis courts

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public sewer
• Home design: Two-story home
• Construction: Crawlspace foundation
• Exterior features: Brick exterior above foundation; Paved road access; Public water

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level; Third bedroom on the main level; Finished room on second level (FROG - no closet)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One gas-log fireplace
• Laundry & utility: Washer and dryer area on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $5 ($57/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 $205k (18.1% below list).
• Recommended offer: $205k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Sandlapper Elementary (math 30% / reading 34%, grade F, #369 of 597 statewide, top 64%, 656 students, 71% FRL); Blythewood Middle (math 40% / reading 57%, grade C-, #40 of 229 statewide, top 18%, 796 students, 46% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 59% FRL vs 38% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 417 active listings in the ZIP; 14 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 33% 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 23 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $192k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% 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 $204,784 (18.1% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-40,637
• Equity at exit: $37,276

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-36,754
• 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: 10.2×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$161 /mo · $1,930/yr
• Insurance: −$104
• HOA: −$37
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $5

Break-even live

Break-even rent $2,042

Max offer price $250,000

Occupancy floor 95%

Sensitivity live

Price	-10% $146	-5% $76	+0% $5	+5% $-66	+10% $-137
Rent	-10% $-157	-5% $-76	+0% $5	+5% $86	+10% $167
Rate	-1.0pp $131	-0.5pp $68	base $5	+0.5pp $-60	+1.0pp $-126

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Petworth Dr Columbia, SC	4.0	3.0	1664	$2,050	$1.23	4d	1	0.28mi
429 Buttonbush Ct Columbia, SC	4.0	2.5	2715	$1,995	$0.73	4d	1	0.56mi
213 Sagamare Rd Columbia, SC	4.0	3.0	1664	$1,970	$1.18	25d	1	0.58mi
5 Elders Pond Ct Columbia, SC	3.0	2.5	1640	$1,795	$1.09	16d	1	0.72mi
214 Elders Pond Dr Columbia, SC	3.0	2.5	1400	$1,350	$0.96	13d	1	0.73mi
13 Tomafield Ct Columbia, SC	3.0	2.0	1721	$2,000	$1.16	5d	1	0.73mi
1116 Waverly Place Ln Columbia, SC	3.0	2.0	1428	$1,875	$1.31	16d	1	0.91mi
313 Brook Hollow Dr Columbia, SC	3.0	3.0	1879	$1,700	$0.90	16d	1	0.99mi
669 Pine Lilly Dr Columbia, SC	4.0	2.5	2912	$2,595	$0.89	25d	1	1.01mi
608 Cottontail Ct N Columbia, SC	4.0	2.0	1701	$2,139	$1.26	5d	1	1.06mi
412 Killian Green Dr Columbia, SC	3.0	2.5	2280	$1,999	$0.88	13d	1	1.37mi
502 Blue Garden Way Columbia, SC	4.0	2.5	1775	$2,183	$1.23	16d	1	1.39mi
495 Blue Garden Way Columbia, SC	4.0	2.5	2075	$2,224	$1.07	4d	1	1.40mi
520 Timber Crest Dr Columbia, SC	4.0	2.5	2195	$2,250	$1.03	25d	1	1.46mi

HOA detail

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

Listing history 18 events

1. 2026-06-22
   statusdays on market $250,000 Pending 23 DOM
2. 2026-06-18
   days on market $250,000 Active - Contingent 22 DOM
3. 2026-06-17
   days on market $250,000 Active - Contingent 21 DOM
4. 2026-06-16
   days on market $250,000 Active - Contingent 20 DOM
5. 2026-06-15
   days on market $250,000 Active - Contingent 19 DOM
6. 2026-06-14
   days on market $250,000 Active - Contingent 17 DOM
7. 2026-06-13
   days on market $250,000 Active - Contingent 16 DOM
8. 2026-06-10
   days on market $250,000 Active - Contingent 14 DOM
9. 2026-06-09
   days on market $250,000 Active - Contingent 13 DOM
10. 2026-06-08
    days on market $250,000 Active - Contingent 12 DOM
11. 2026-06-07
    days on market $250,000 Active - Contingent 11 DOM
12. 2026-06-05
    statusdays on market $250,000 Active - Contingent 8 DOM
13. 2026-06-03
    days on market $250,000 Active 7 DOM
14. 2026-06-03
    days on market $250,000 Active 6 DOM
15. 2026-06-01
    days on market $250,000 Active 5 DOM
16. 2026-05-31
    days on market $250,000 Active 4 DOM
17. 2026-05-27
    listed $250,000 Active
18. 2005-10-25
    soldstatus $192,500

ⓘ 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: $1,930 · $161/mo
• Projected year-2 tax: $1,930 · $161/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 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,574
• − Mortgage interest: −$14,004
• − Property taxes: −$1,930
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − HOA: −$444
• − Depreciation: −$7,273
• Taxable loss: −$4,258
• Est. tax savings @ 24.0%: +$1,022
• After-tax cash flow: $1,079/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

+29.9% since first listed

2 events — show timeline

• 2026-05-27 Listed $250,000 Consolidated MLS
• 2005-10-25 Sold (Public Records) $192,500 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,930 · +3.6% YoY. Source: county tax records.