421 Caddy St · Pineville, NC 29715

$269,000

2 bd · 2.5 ba · 1,360 sqft · SingleFamily public records · 35 Days on market

Built 2007 1,742 sqft lot $210/mo HOA · 10% 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 +10.9/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this beautiful end unit located directly across from the community pool in Cole Creek. Ideally located within the award-winning Fort Mill School District, and close proximity to I-77. This home offers an open floorplan filled with abundant natural light. The main level offers a spacious primary suite with a full bathroom, living room with a vaulted ceiling, and a kitchen and dining area. The dining area opens to a private fenced in patio that is perfect for entertaining. Upstairs you will find an additional bedroom and full bathroom, along with a loft that can easily be converted to a 3rd bedroom or home office. Recent updates include fresh paint, new LVP flooring, and a newly

Key facts

• Recent updates
• Community pool
• End unit

Tags

• END UNIT
• COMMUNITY POOL
• PRIVATE FENCED IN PATIO
• RECENT UPDATES
• NEW LVP FLOORING
• NEWLY INSTALLED OVEN RANGE

Property features AI

Finance

• Other: Land included with property
• HOA & community: Mandatory HOA managed by Association Management Group; HOA fee $210 per month; Community is gated with an outdoor pool; Pets allowed

Exterior

• Parking: Assigned parking (2 assigned spaces)
• Utilities: County water; County sewer; Electricity connected; Cable available and connected; Wired internet available; Publicly maintained paved/asphalt road
• Home design: Townhouse (residential); Site-built construction; Completed development; RD-I zoning; Two levels; Entry level is main level
• Construction: Partial brick and vinyl exterior; Slab foundation
• Exterior features: End unit; Patio; Porch; Fenced yard (privacy fencing); Lawn maintenance included; Storage; In-ground private pool

Interior

• Kitchen: Kitchen island; Dishwasher; Electric oven; Electric range; Microwave; Breakfast bar; Pantry
• Bedrooms: 2 bedrooms (1 on main level, 1 on upper level); Upper-level bedroom has a walk-in closet
• Bathrooms: 2 full bathrooms; 1 half bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Ceiling fans
• Interior features: Attic access; Breakfast bar; Kitchen island; Pantry; 10 rooms total; Vaulted ceiling; Ceiling fan(s); Carbon monoxide detector(s); Smoke detector(s)
• Laundry & utility: In-unit laundry hookups (washer hookup, electric dryer hookup); Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (20.1% below list).
• Recommended offer: $215k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.6% in Pineville — 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 63/100 on livability (#406 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: crime F, amenities F, health & safety F.
• York 04 (suburban): math 65% / reading 71% proficiency, ranked #1 of 80 in SC (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Nation Ford High (math 74% / reading 94%, grade A, #13 of 196 statewide, top 7%, 1,877 students, 30% FRL) — zoned schools average 30% FRL vs 15% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 84% at this address vs 68% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the York 04 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.0%/yr); 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,550 units permitted in York County in 2024 (350 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 $8k of value loss. Plan a longer hold.
• York County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $118k; list at $269k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $215,042 (20.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.0% rent growth · sell at horizon

5-year hold

• IRR: -21.6%
• Equity multiple: 0.27×
• Total profit: $-55,335
• Equity at exit: $40,109

10-year hold

• IRR: -20.8%
• Equity multiple: 0.01×
• Total profit: $-74,554
• Equity at exit: $23,258

Cash invested: $75,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 29715

• Rents YoY: 1.0%
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,150 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$112
• HOA: −$210
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-118

Break-even live

Break-even rent $2,300

Max offer price $248,172

Occupancy floor —

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14221 S Polk St Pineville, NC	3.0	2.0	1656	$2,522	$1.52	4d	4	0.30mi
17112 Birchwood Farm Rd Pineville, NC	3.0	2.5	1874	$2,930	$1.56	1d	4	0.32mi
315 Flint Hill Rd Fort Mill, SC	2.0	2.0	1000	$1,410	$1.41	15d	3	0.49mi
507 Tayberry Ln Fort Mill, SC	3.0	3.0	1500	$2,500	$1.67	24d	1	0.59mi
125 Charterhouse Ln Fort Mill, SC	3.0	2.5	1394	$1,900	$1.36	2d	1	1.08mi
127 Snead Rd Fort Mill, SC	3.0	2.5	1800	$2,495	$1.39	24d	1	1.41mi
2620 Grantham Place Dr Fort Mill, SC	3.0	3.0	1820	$2,495	$1.37	15d	1	1.44mi

HOA detail

• Monthly dues: $210 · $2,520/yr
• Likely covers: pool

Listing history 9 events

1. 2026-06-07
   status $269,000 Pending 35 DOM
2. 2026-06-04
   days on market $269,000 Active Under Contract 35 DOM
3. 2026-06-03
   days on market $269,000 Active Under Contract 34 DOM
4. 2026-06-02
   days on market $269,000 Active Under Contract 33 DOM
5. 2026-06-01
   days on market $269,000 Active Under Contract 32 DOM
6. 2026-05-31
   days on market $269,000 Active Under Contract 31 DOM
7. 2026-05-17
   historical Active Under Contract
8. 2026-04-30
   listed $269,000 Active
9. 2014-07-03
   soldstatus $117,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,008 · $84/mo
• Projected year-2 tax: $2,206 · $184/mo
• Expected delta: +$1,198/yr (+$100/mo · 118.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $25,805
• − Mortgage interest: −$15,068
• − Property taxes: −$1,008
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$2,520
• − Depreciation: −$7,825
• Taxable loss: −$6,090
• Est. tax savings @ 24.0%: +$1,462
• After-tax cash flow: $47/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: York 04
• NCES district ID: 4503900
• Math proficiency: 65% ▼ -9.00%
• Reading proficiency: 71% ▬ 0.00%
• Median HH income: $79,981
• Composite: 60.56/100
• National rank: #835
• State rank: #1 of 80 in SC

Livability — Pineville

• Score: 63/100
• State rank: #406
• US rank: #15393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: York County
• City population: 13,245
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 46,865
• Household income: $109,689
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 680.0

Population outlook (York County) Hauer SSP2

• Today (2025): 307,757 people
• By 2030: 335,979 · +9.2%
• By 2040: 391,378 · +27.2%
• By 2050: 443,234 · +44.0%
• By 2075: 557,102 · +81.0%
• By 2100: 625,837 · +103.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 11% Hispanic / Latino 10% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 4% Slovak 3% Romanian 3%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Other Asian/Pacific 2%

Political lean MEDSL · York

• 2024 margin: R (+19.1) · D 39.7% · R 58.8% · Other 1.5%
• 2008→2024 swing: -1.4pp toward R · 2008: -17.7pp · 2024: -19.1pp
• All cycles: 2024: R+19.1 2020: R+16.5 2016: R+22.1 2012: R+20.5 2008: R+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.26%
• Current HPI: 261.4136
• Rent YoY: ▲ 1.00%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+128.9% since first listed

3 events — show timeline

• 2026-05-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Listed $269,000 CANOPYMLS as Distributed by MLS Grid
• 2014-07-03 Sold (Public Records) $117,500 Public Records

Property tax history

-5.8%/yr

Latest (2025): $1,008 · +14.4% YoY. Source: county tax records.