203 May Oak Rd · Columbia, SC 29229

$239,900

3 bd · 3.0 ba · 1,560 sqft · SingleFamily public records · 17 Days on market

Built 1999 7,230 ac lot Est $253k · 5% under

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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 +14.5/30.0
• ARV discount +9.8/15.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the highly desirable Summit community, this newly renovated home offers the perfect combination of style, comfort, and convenience. Featuring beautiful tile flooring throughout the main living areas, a designer backsplash, upgraded fixtures, granite countertops, and modern touches throughout, this move-in ready home could be exactly what you’ve been looking for. The spacious floor plan includes an inviting living area with a fireplace, an updated kitchen with ample cabinet space, and renovated bathrooms with contemporary finishes. Conveniently located in Northeast Columbia’s most sought-after communities, you’ll enjoy easy access to shopping, dining, schools, an

Key facts

• Renovated bathrooms
• Upgraded fixtures
• Tile flooring

Tags

• TILE FLOORING
• DESIGNER BACKSPLASH
• UPGRADED FIXTURES
• GRANITE COUNTERTOPS
• UPDATED KITCHEN
• RENOVATED BATHROOMS

Property features AI

Finance

• HOA & community: Has association

Exterior

• Utilities: Public water; Public sewer
• Home design: Total heated area approximately 1,560
• Construction: Slab foundation
• Exterior features: Vinyl exterior finish; Paved road access

Interior

• Bedrooms: Master bedroom on the second floor; Second bedroom on the second floor; Third bedroom on the second floor
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: One fireplace
• Laundry & utility: Washer/Dryer on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $53 ($632/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 $192k (19.9% below list).
• Recommended offer: $192k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Rice Creek Elementary (math 36% / reading 34%, grade F, #339 of 597 statewide, top 57%, 737 students, 76% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 68% FRL vs 38% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 417 active listings in the ZIP; 20 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 31% 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 17 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $240k implies a 71% gain — meaningful room to come down on a strong offer.

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 $192,214 (19.9% 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: 0.80% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $252,720
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 Elders Pond Dr	0.50mi	3/2.5	1,422 (-9%)	7mo	$230,000	$162	54
303 Castle Ridge Dr	0.54mi	3/2.0	1,700 (+9%)	4mo	$203,000	$119	52
1007 May Oak Cir	0.26mi	3/2.0	1,342 (-14%)	24mo	$240,000	$179	40
308 Alderson Way	0.52mi	3/2.0	1,727 (+11%)	21mo	$255,000	$148	36

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-35,977
• Equity at exit: $35,770

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-28,872
• Equity at exit: $20,742

Cash invested: $67,172 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$108 /mo · $1,294/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $53

Break-even live

Break-even rent $1,856

Max offer price $239,900

Occupancy floor 92%

Sensitivity live

Price	-10% $188	-5% $121	+0% $53	+5% $-15	+10% $-83
Rent	-10% $-99	-5% $-23	+0% $53	+5% $129	+10% $204
Rate	-1.0pp $173	-0.5pp $114	base $53	+0.5pp $-10	+1.0pp $-73

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1214 Waverly Place Ln Columbia, SC	3.0	2.0	1152	$1,800	$1.56	13d	1	0.22mi
520 Timber Crest Dr Columbia, SC	4.0	2.5	2195	$2,250	$1.03	25d	1	0.25mi
1116 Waverly Place Ln Columbia, SC	3.0	2.0	1428	$1,875	$1.31	16d	1	0.33mi
3 Glen Knoll Ct Columbia, SC	3.0	2.0	1320	$1,699	$1.29	13d	1	0.42mi
500 Castle Ridge Dr Columbia, SC	3.0	2.0	1753	$2,150	$1.23	5d	1	0.46mi
3 Long Glen Ct Columbia, SC	3.0	2.0	1314	$1,849	$1.41	4d	1	0.50mi
214 Elders Pond Dr Columbia, SC	3.0	2.5	1400	$1,350	$0.96	13d	1	0.52mi
5 Elders Pond Ct Columbia, SC	3.0	2.5	1640	$1,795	$1.09	16d	1	0.56mi
423 Elders Pond Cir Columbia, SC	2.0	2.0	1125	$1,475	$1.31	21d	1	0.60mi
4500 Hard Scrabble Rd Columbia, SC	1.0–3.0	1.0–2.0	1031	$1,455	$1.41	4d	4	0.83mi
225 Lawson Dr Columbia, SC	2.0	2.0	1288	$1,580	$1.23	25d	1	0.99mi
108 Quinton Ln Columbia, SC	3.0	2.0	1052	$1,749	$1.66	23d	1	1.22mi
313 Brook Hollow Dr Columbia, SC	3.0	3.0	1879	$1,700	$0.90	16d	1	1.24mi
221 Fox Grove Cir Unit 1 Columbia, SC	4.0	2.0	2046	$1,700	$0.83	4d	1	1.31mi
416 Sandfarm Trl Blythewood, SC	3.0	2.5	1664	$2,025	$1.22	16d	1	1.39mi
416 Sandfarm Trl Blythewood, SC	3.0	2.5	1664	$2,025	$1.22	25d	1	1.39mi
499 Fox Trot Dr Columbia, SC	4.0	2.5	2006	$2,195	$1.09	5d	1	1.42mi
102 Petworth Dr Columbia, SC	4.0	3.0	1664	$2,050	$1.23	4d	1	1.43mi
512 N Crossing Dr Columbia, SC	3.0	2.0	1302	$1,799	$1.38	25d	1	1.48mi
109 Jaybird Ln Columbia, SC	3.0	2.0	1250	$1,679	$1.34	4d	1	1.50mi

Listing history 13 events

1. 2026-06-22
   days on market $239,900 Active 17 DOM
2. 2026-06-18
   days on market $239,900 Active 14 DOM
3. 2026-06-17
   days on market $239,900 Active 13 DOM
4. 2026-06-16
   days on market $239,900 Active 12 DOM
5. 2026-06-15
   days on market $239,900 Active 11 DOM
6. 2026-06-14
   days on market $239,900 Active 9 DOM
7. 2026-06-13
   days on market $239,900 Active 8 DOM
8. 2026-06-10
   days on market $239,900 Active 6 DOM
9. 2026-06-09
   days on market $239,900 Active 5 DOM
10. 2026-06-08
    days on market $239,900 Active 4 DOM
11. 2026-06-07
    days on market $239,900 Active 3 DOM
12. 2026-06-05
    remarks 681-char remark
13. 2026-06-05
    listed $239,900 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: $1,294 · $108/mo
• Projected year-2 tax: $1,367 · $114/mo
• Expected delta: +$73/yr (+$6/mo · 5.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,066
• − Mortgage interest: −$13,438
• − Property taxes: −$1,294
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$6,979
• Taxable loss: −$3,535
• Est. tax savings @ 24.0%: +$848
• After-tax cash flow: $1,480/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

+1499.3% since first listed

5 events — show timeline

• 2026-06-04 Listed $239,900 Consolidated MLS
• 2026-03-09 Sold (Public Records) $140,000 Public Records
• 2026-02-20 Sold (Public Records) $121,000 Public Records
• 1999-12-10 Sold (Public Records) $86,145 Public Records
• 1999-10-14 Sold (Public Records) $15,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,294 · +3.6% YoY. Source: county tax records.