204 Wallace Cir · Oak Grove, SC 29073

$223,000

2 bd · 2.0 ba · 1,206 sqft · SingleFamily public records · 69 Days on market

Built 1987 7,405 sqft lot $22/mo HOA · 1% 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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• 1% rule +3.0/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Check out 204 Wallace Cir, a residence arranged for everyday comfortable living. The interior features a cozy fireplace, and the kitchen is equipped with all stainless steel appliances for convenient meal preparation. Outside, a spacious deck provides an area for enjoyment, complementing the included storage shed and securely fenced in backyard. This property blends comfort and outdoor utility beautifully. . Included 100-Day Home Warranty with buyer activation Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• Fenced in backyard
• Spacious deck
• Storage shed

Tags

• COZY FIREPLACE
• STAINLESS STEEL APPLIANCES
• SPACIOUS DECK
• STORAGE SHED
• FENCED IN BACKYARD

Property features AI

Finance

• HOA & community: Has homeowners association; Association amenities include a pool

Exterior

• Utilities: Public sewer
• Home design: Single-story home
• Construction: Crawlspace foundation
• Exterior features: Wood fiber/Masonite and other exterior finish; Paved road access; Water access: Other (see remarks)

Interior

• Bedrooms: Master bedroom on the main level
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: One fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $223k.

Deal economics

• At list price, monthly cash flow is $39 ($466/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 $178k (20.4% below list).
• Recommended offer: $178k (20.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#114 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D, schools D-, amenities F.
• Lexington 02 (suburban): math 30% / reading 38% proficiency, ranked #45 of 80 in SC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.2%/yr); 564 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,712 units permitted in Lexington County in 2024 (0 in 5+ unit buildings).

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.
• Lexington County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% 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 $177,558 (20.4% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 20% 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 D 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: 0.80% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-33,316
• Equity at exit: $33,250

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-24,389
• Equity at exit: $19,281

Cash invested: $62,440 (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 29073

• Home prices YoY: -19.1%
• Rents YoY: 3.2%
• Active inventory: 564
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,776 high
• Mortgage (P&I): −$1,169
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$93
• HOA: −$22
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $39

Break-even live

Break-even rent $1,726

Max offer price $223,000

Occupancy floor 93%

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: $55,750
• Closing costs: $6,690
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Chisolm Ct Lexington, SC	3.0	2.0	1305	$1,800	$1.38	23d	1	0.18mi
3220 Woodsen Cir West Columbia, SC	3.0	2.0	1475	$1,800	$1.22	23d	1	0.52mi
604 Melton St West Columbia, SC	1.0	1.0	1000	$1,475	$1.48	3d	1	0.98mi
105 Landford Ct Lexington, SC	3.0	2.0	1260	$1,450	$1.15	3d	1	1.23mi
200 # W Unit Woodberry Rd unit West Columbia, SC	2.0	2.0	1000	$1,300	$1.30	3d	1	1.32mi
2720 Sunset Blvd West Columbia, SC	1.0–3.0	1.0–2.0	1187	$2,132	$1.80	19d	35	1.42mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 33 events

1. 2026-06-17
   statusdays on market $223,000 Pending 69 DOM
2. 2026-06-16
   days on market $223,000 Active - Contingent 68 DOM
3. 2026-06-15
   days on market $223,000 Active - Contingent 67 DOM
4. 2026-06-14
   days on market $223,000 Active - Contingent 65 DOM
5. 2026-06-13
   days on market $223,000 Active - Contingent 64 DOM
6. 2026-06-10
   days on market $223,000 Active - Contingent 62 DOM
7. 2026-06-09
   days on market $223,000 Active - Contingent 61 DOM
8. 2026-06-08
   days on market $223,000 Active - Contingent 60 DOM
9. 2026-06-07
   days on market $223,000 Active - Contingent 59 DOM
10. 2026-06-05
    days on market $223,000 Active - Contingent 56 DOM
11. 2026-06-03
    days on market $223,000 Active - Contingent 55 DOM
12. 2026-06-03
    statusdays on market $223,000 Active - Contingent 54 DOM
13. 2026-06-02
    days on market $223,000 Active 53 DOM
14. 2026-05-31
    days on market $223,000 Active 52 DOM
15. 2026-05-14
    price $223,000
16. 2026-04-09
    listed $230,000 Active
17. 2026-03-26
    soldstatus $224,000
18. 2022-01-06
    soldstatus $168,500
19. 2021-12-04
    historical
20. 2021-11-28
    status Active
21. 2021-11-25
    historical
22. 2021-11-25
    status Active
23. 2021-11-20
    historical
24. 2021-11-10
    status Active
25. 2021-11-05
    historical
26. 2021-11-02
    listed $164,500 Active
27. 2019-07-10
    historical
28. 2019-06-27
    price $127,500
29. 2019-06-12
    listed $129,500 Active
30. 2019-03-13
    historical
31. 2019-03-04
    listed $84,900 Active
32. 1997-04-01
    soldstatus $64,900
33. 1987-07-01
    soldstatus $75,000

ⓘ 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: $955 · $80/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$317/yr (+$26/mo · 33.2%)

ⓘ 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 ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $21,307
• − Mortgage interest: −$12,491
• − Property taxes: −$955
• − Insurance: −$1,115
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − HOA: −$264
• − Depreciation: −$6,487
• Taxable loss: −$3,414
• Est. tax savings @ 24.0%: +$819
• After-tax cash flow: $1,285/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: Lexington 02
• NCES district ID: 4502730
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $42,532
• Composite: 28.78/100
• National rank: #6669
• State rank: #45 of 80 in SC

Livability — Oak Grove

• Score: 66/100
• State rank: #114
• US rank: #11681

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment C Housing A+ Health & safety B User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lexington County · 232,571 people
• City population: 51,471
• Metro: Columbia, SC
• Population (ZIP): 53,156
• Household income: $77,229
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 935.0

Population outlook (Lexington County) Hauer SSP2

• Today (2025): 322,999 people
• By 2030: 342,356 · +6.0%
• By 2040: 377,715 · +16.9%
• By 2050: 406,984 · +26.0%
• By 2075: 465,447 · +44.1%
• By 2100: 485,674 · +50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 14% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Lexington

• 2024 margin: Solid R (+33.5) · D 32.5% · R 66.0% · Other 1.4%
• 2008→2024 swing: +4.6pp toward D · 2008: -38.0pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.1 2016: R+36.7 2012: R+37.8 2008: R+38.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.20%
• Current HPI: 249.8957
• Rent YoY: ▲ 3.24%
• 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

+197.3% since first listed

19 events — show timeline

• 2026-05-14 Price Changed $223,000 Consolidated MLS
• 2026-04-09 Listed $230,000 Consolidated MLS
• 2026-03-26 Sold (Public Records) $224,000 Public Records
• 2022-01-06 Sold (Public Records) $168,500 Public Records
• 2021-12-04 Delisted — Consolidated MLS
• 2021-11-28 Relisted — Consolidated MLS
• 2021-11-25 Delisted — Consolidated MLS
• 2021-11-25 Relisted — Consolidated MLS
• 2021-11-20 Delisted — Consolidated MLS
• 2021-11-10 Relisted — Consolidated MLS
• 2021-11-05 Delisted — Consolidated MLS
• 2021-11-02 Listed $164,500 Consolidated MLS
• 2019-07-10 Delisted — Consolidated MLS
• 2019-06-27 Price Changed $127,500 Consolidated MLS
• 2019-06-12 Listed $129,500 Consolidated MLS
• 2019-03-13 Delisted — Consolidated MLS
• 2019-03-04 Listed $84,900 Consolidated MLS
• 1997-04-01 Sold (Public Records) $64,900 Public Records
• 1987-07-01 Sold (Public Records) $75,000 Public Records

Property tax history

-2.9%/yr

Latest (2024): $955 · -70.6% YoY. Source: county tax records.