3603 Phillips St · Columbia, SC 29203

$137,500

3 bd · 2.0 ba · 1,494 sqft · SingleFamily public records · 197 Days on market

Built 1900 0.25 ac lot Est $182k · 25% under

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Why this score? — see what drove the B- 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.

Key facts

• 0.25 acre lot
• Built 1900
• Listed 197 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home; Sits on approximately 0.25 acre
• Construction: Crawlspace foundation
• Exterior features: Synthetic stucco exterior; Paved road access

Interior

• Bedrooms: Master bedroom located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Main-level master bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Hyatt Park Elementary (math 8% / reading 8%, grade F, #592 of 597 statewide, top 99%, 393 students, 100% FRL); Eau Claire High (math 22% / reading 84%, grade C-, #139 of 196 statewide, top 71%, 627 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: Rents rising (+2.5%/yr); 240 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% of the median local income ($46k/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 $951 of loan paydown is wiped out by about $4k 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 197 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $121,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $182,268
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Summerlea Dr	0.60mi	3/2.0	1,628 (+9%)	23mo	$199,000	$122	37

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 · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-4,197
• Equity at exit: $20,502

10-year hold

• IRR: 6.2%
• Equity multiple: 1.45×
• Total profit: $17,507
• Equity at exit: $11,888

Cash invested: $38,500 (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 29203

• Home prices YoY: -31.6%
• Rents YoY: 2.5%
• Active inventory: 240
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,591 high
• Mortgage (P&I): −$721
• Tax from tax record: −$182 /mo · $2,188/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $296

Break-even live

Break-even rent $1,216

Max offer price $137,500

Occupancy floor 76%

Sensitivity live

Price	-10% $374	-5% $335	+0% $296	+5% $257	+10% $218
Rent	-10% $170	-5% $233	+0% $296	+5% $359	+10% $422
Rate	-1.0pp $365	-0.5pp $331	base $296	+0.5pp $260	+1.0pp $224

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Hendrix St Columbia, SC	2.0	1.0	900	$1,050	$1.17	24d	1	0.34mi
3500 Grand St Columbia, SC	3.0	2.0	1300	$2,000	$1.54	15d	1	0.68mi
606 Muller Ave Columbia, SC	2.0	1.0	1240	$1,349	$1.09	12d	1	0.77mi
3638 Falling Springs Rd Columbia, SC	3.0	2.0	1080	$1,332	$1.23	24d	1	0.84mi
2617 River Dr Columbia, SC	2.0–3.0	1.0–2.0	1038	$993	$0.96	15d	2	0.88mi
2308 Manse St Columbia, SC	3.0	1.0	999	$1,300	$1.30	15d	1	0.91mi
2901 Park St Columbia, SC	3.0	2.0	1288	$2,750	$2.14	24d	1	0.99mi
214 Hanover Ave Unit A Columbia, SC	2.0	1.0	1400	$1,450	$1.04	24d	1	1.08mi
1506 Charlton St Columbia, SC	3.0	2.0	1491	$1,500	$1.01	24d	1	1.12mi
3419 Piedmont Ave Columbia, SC	3.0	1.0	1100	$1,195	$1.09	24d	1	1.15mi
27 Bethune Ct Columbia, SC	3.0	2.0	1523	$1,625	$1.07	24d	1	1.18mi
98 Riverview Ct Columbia, SC	3.0	2.0	1257	$1,800	$1.43	15d	1	1.26mi
1003 Elmwood Ave Columbia, SC	1.0–2.0	1.0–2.0	937	$1,649	$1.76	12d	4	1.37mi
5229 Woodbrier St Unit 504 Columbia, SC	3.0	2.5	1360	$1,500	$1.10	24d	1	1.38mi
328 Northwood St Columbia, SC	3.0	2.5	1461	$2,395	$1.64	24d	1	1.40mi

Listing history 20 events

1. 2026-06-21
   days on market $137,500 Active 197 DOM
2. 2026-06-18
   days on market $137,500 Active 194 DOM
3. 2026-06-17
   days on market $137,500 Active 193 DOM
4. 2026-06-16
   days on market $137,500 Active 192 DOM
5. 2026-06-15
   days on market $137,500 Active 191 DOM
6. 2026-06-14
   days on market $137,500 Active 189 DOM
7. 2026-06-10
   days on market $137,500 Active 186 DOM
8. 2026-06-09
   days on market $137,500 Active 185 DOM
9. 2026-06-08
   days on market $137,500 Active 184 DOM
10. 2026-06-07
    days on market $137,500 Active 183 DOM
11. 2026-06-03
    days on market $137,500 Active 179 DOM
12. 2026-06-03
    days on market $137,500 Active 178 DOM
13. 2026-06-01
    days on market $137,500 Active 177 DOM
14. 2026-05-31
    days on market $137,500 Active 176 DOM
15. 2026-04-17
    price $137,500
16. 2026-03-18
    status Active
17. 2026-02-20
    status Pending
18. 2025-11-10
    listed $140,000 Active
19. 2020-05-28
    historical
20. 2020-04-29
    listed $40,000 Active

ⓘ 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: $2,188 · $182/mo
• Projected year-2 tax: $2,188 · $182/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: $19,088
• − Mortgage interest: −$7,702
• − Property taxes: −$2,188
• − Insurance: −$688
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$4,000
• Taxable income: $1,457
• Est. tax owed @ 24.0%: −$350
• After-tax cash flow: $3,202/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

• Census place: Columbia, SC
• County: Richland County · 389,530 people
• City population: 335,994
• Metro: Columbia, SC
• Population (ZIP): 40,653
• Household income: $46,054
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1980.0

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 (80%)
• Race & ethnicity: Black 80% White 13% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -77.52%
• Current HPI: 168.2114
• Rent YoY: ▲ 2.50%
• 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

+243.8% since first listed

6 events — show timeline

• 2026-04-17 Price Changed $137,500 Consolidated MLS
• 2026-03-18 Relisted — Consolidated MLS
• 2026-02-20 Pending — Consolidated MLS
• 2025-11-10 Listed $140,000 Consolidated MLS
• 2020-05-28 Delisted — Consolidated MLS
• 2020-04-29 Listed $40,000 Consolidated MLS

Property tax history

+6.0%/yr

Latest (2025): $2,188 · +2.1% YoY. Source: county tax records.