11 Founders Lake Ct · Columbia, SC 29229

$210,000

3 bd · 2.0 ba · 1,618 sqft · SingleFamily public records · 27 Days on market

Built 2003 5,662 sqft lot Est $235k · 10% under $43/mo HOA · 2% of rent

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Why this score? — see what drove the C- 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 +17.8/30.0
• ARV discount +12.2/15.0
• DSCR +5.6/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ranch Home for Sale in The Summit in the Courtyards at Founder’s Ridge subdivision. This property is being sold as-is and needs repairs, making it an excellent opportunity for investors, renovators, or buyers looking to add value and build equity. The home features an open-concept floor plan with high ceilings, a cozy fireplace, and abundant natural light. A covered front porch adds curb appeal, while the bright sunroom offers additional flexible living space—ideal for relaxing, entertaining, or creating a home office. Located in The Summit community, residents enjoy neighborhood amenities including a swimming pool and playground. The property also offers convenient access to sh

Key facts

• Covered front porch
• Swimming pool
• Cozy fireplace

Tags

• OPEN-CONCEPT FLOOR PLAN
• COZY FIREPLACE
• ABUNDANT NATURAL LIGHT
• COVERED FRONT PORCH
• BRIGHT SUNROOM
• SWIMMING POOL

Property features AI

Finance

• HOA & community: Community association (association provides common area maintenance, playground and pool); Community pool

Exterior

• Parking: Attached 2-car garage (main level)
• Utilities: Public sewer; Public water
• Home design: Single-story home
• Construction: Vinyl exterior; Slab foundation
• Exterior features: Covered front porch; Patio; Partial gutters; Wood fencing; Paved road access; Public water

Interior

• Kitchen: Island; Formica countertops; Wood stained cabinets; Vinyl flooring in kitchen; Dishwasher; Garbage disposal; Microwave above stove; Free-standing range
• Bedrooms: Master bedroom with garden tub, private bath, separate shower and walk-in closet (main level); Bedroom 2 with private closet (main level); Bedroom 3 with private closet (main level)
• Flooring: Laminate flooring in living areas; Carpet in bedrooms; Vinyl flooring in kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Fireplace with natural gas log; Ceiling fan; Eat-in kitchen; Galley kitchen with island; Pantry; Florida room
• Laundry & utility: Laundry in heated space (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $175 ($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 $198k (5.7% below list).
• Recommended offer: $198k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 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: Bridge Creek Elementary (math 35% / reading 31%, grade F, #364 of 597 statewide, top 61%, 558 students, 80% FRL); Ridge View High (math 43% / reading 76%, grade C+, #110 of 196 statewide, top 58%, 1,711 students, 60% FRL) — zoned schools average 70% FRL vs 38% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 406 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 32% 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 $1k of loan paydown is wiped out by about $6k 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 27 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $158k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $198,045 (5.7% 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. 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: 0.94% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $234,610
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 Barony Place Dr	0.47mi	4/2.0 (+1)	1,800 (+11%)	14mo	$261,500	$145	43

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-23,298
• Equity at exit: $31,312

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-7,549
• Equity at exit: $18,157

Cash invested: $58,800 (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: 406
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,980 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$88
• HOA: −$43
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $175

Break-even live

Break-even rent $1,760

Max offer price $210,000

Occupancy floor 86%

Sensitivity live

Price	-10% $293	-5% $234	+0% $175	+5% $115	+10% $56
Rent	-10% $18	-5% $96	+0% $175	+5% $253	+10% $331
Rate	-1.0pp $280	-0.5pp $228	base $175	+0.5pp $120	+1.0pp $65

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Fox Grove Cir Unit 1 Columbia, SC	4.0	2.0	2046	$1,700	$0.83	3d	1	0.44mi
499 Fox Trot Dr Columbia, SC	4.0	2.5	2006	$2,195	$1.09	3d	1	0.55mi
520 Timber Crest Dr Columbia, SC	4.0	2.5	2195	$2,250	$1.03	24d	1	0.64mi
500 Castle Ridge Dr Columbia, SC	3.0	2.0	1753	$2,150	$1.23	3d	1	0.68mi
352 White Gables Dr Columbia, SC	3.0	2.0	1165	$1,605	$1.38	3d	1	0.89mi
3 Long Glen Ct Columbia, SC	3.0	2.0	1314	$1,849	$1.41	3d	1	0.93mi
1964 Lake Carolina Dr Columbia, SC	4.0	2.5	1841	$1,939	$1.05	21d	1	0.96mi
456 Edenhall Dr Columbia, SC	4.0	2.5	2158	$2,600	$1.20	24d	1	1.03mi
2000 Lake Carolina Dr Columbia, SC	4.0	2.5	1841	$2,089	$1.13	15d	1	1.05mi
1214 Waverly Place Ln Columbia, SC	3.0	2.0	1152	$1,800	$1.56	11d	1	1.09mi
1116 Waverly Place Ln Columbia, SC	3.0	2.0	1428	$1,875	$1.31	15d	1	1.21mi
3 Glen Knoll Ct Columbia, SC	3.0	2.0	1320	$1,699	$1.29	11d	1	1.24mi
512 N Crossing Dr Columbia, SC	3.0	2.0	1302	$1,799	$1.38	24d	1	1.31mi
214 Elders Pond Dr Columbia, SC	3.0	2.5	1400	$1,350	$0.96	11d	1	1.39mi
5 Elders Pond Ct Columbia, SC	3.0	2.5	1640	$1,795	$1.09	15d	1	1.43mi
423 Elders Pond Cir Columbia, SC	2.0	2.0	1125	$1,475	$1.31	19d	1	1.44mi
112 Turnstone Way Columbia, SC	3.0	2.0	1145	$1,779	$1.55	3d	1	1.46mi
225 Lawson Dr Columbia, SC	2.0	2.0	1288	$1,580	$1.23	24d	1	1.47mi

HOA detail

• Monthly dues: $43 · $516/yr
• Likely covers: pool

Listing history 17 events

1. 2026-04-29
   listed $210,000 Active
2. 2026-01-13
   price $210,000
3. 2026-01-06
   listed $225,000 Active
4. 2025-12-30
   historical
5. 2025-08-18
   status Pending
6. 2025-08-18
   status Active
7. 2025-08-01
   historical
8. 2025-04-17
   price $195,000
9. 2025-04-16
   status Pending
10. 2025-03-08
    price $205,000
11. 2025-02-14
    price $215,000
12. 2025-02-08
    listed $225,000 Active
13. 2024-11-18
    status Pending
14. 2024-11-13
    listed $230,000 Active
15. 2020-08-06
    soldstatus $158,500
16. 2020-06-18
    historical
17. 2020-06-12
    listed $158,500 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: $1,899 · $158/mo
• Projected year-2 tax: $1,899 · $158/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: $23,765
• − Mortgage interest: −$11,763
• − Property taxes: −$1,899
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − HOA: −$516
• − Depreciation: −$6,109
• Taxable loss: −$1,374
• Est. tax savings @ 24.0%: +$330
• After-tax cash flow: $2,424/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

+32.5% since first listed

17 events — show timeline

• 2026-04-29 Listed $210,000 Consolidated MLS
• 2026-01-13 Price Changed $210,000 Consolidated MLS
• 2026-01-06 Listed $225,000 Consolidated MLS
• 2025-12-30 Delisted — Consolidated MLS
• 2025-08-18 Pending — Consolidated MLS
• 2025-08-18 Relisted — Consolidated MLS
• 2025-08-01 Delisted — Consolidated MLS
• 2025-04-17 Price Changed $195,000 Consolidated MLS
• 2025-04-16 Pending — Consolidated MLS
• 2025-03-08 Price Changed $205,000 Consolidated MLS
• 2025-02-14 Price Changed $215,000 Consolidated MLS
• 2025-02-08 Listed $225,000 Consolidated MLS
• 2024-11-18 Pending — Consolidated MLS
• 2024-11-13 Listed $230,000 Consolidated MLS
• 2020-08-06 Sold (Public Records) $158,500 Public Records
• 2020-06-18 Delisted — Consolidated MLS
• 2020-06-12 Listed $158,500 Consolidated MLS

Property tax history

+4.0%/yr

Latest (2025): $1,899 · +3.6% YoY. Source: county tax records.