406 Leathertree Ln · Blythewood, SC 29016

$369,990

5 bd · 3.0 ba · 2,511 sqft · SingleFamily · 15 Days on market

Built 2026 Excellent condition 6,098 sqft lot $41/mo HOA · 1% 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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.3/10.0
• Condition / age +4.8/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Find your new home at 406 Leathertree Lane, a new construction two-story home in Blythewood, SC with durable Hardie Plank siding. This home sits on a spacious lot and features front and back covered porches to enjoy the peaceful atmosphere of Leatherstone from. The back patio is also screened in for added comfort. Inside, the Hayden floorplan offers 5 bedrooms, 3 bathrooms, a first-floor flex space, a secondary upstairs living area, and a 2-car garage. The primary bedroom can be found upstairs and is connected to the spacious primary bathroom and a walk-in closet. Bedroom 2 is downstairs along with a full bathroom, while the remaining bedrooms are upstairs. The kitchen space is open concept

Key facts

• Hardie plank siding
• Open concept kitchen
• Floating island

Tags

• HARDIE PLANK SIDING
• FRONT AND BACK COVERED PORCHES
• SCREENED IN BACK PATIO
• FIRST-FLOOR FLEX SPACE
• OPEN CONCEPT KITCHEN
• FLOATING ISLAND

Property features AI

Finance

• HOA & community: Association membership required; Association fees cover common area maintenance

Exterior

• Parking: Attached garage with 2 garage spaces
• Utilities: Public sewer; Public water
• Home design: Two-story detached residence; Lot located on lot #57 (approximately 0.14 acre)
• Construction: Slab foundation
• Exterior features: Covered front porch; Covered back porch; Screened back porch; Fiber cement (Hardie Plank) exterior finish; Paved road access; Public water

Interior

• Kitchen: Eat-in kitchen with island; Pantry; Painted cabinets; Quartz countertops; Luxury vinyl plank flooring; Dishwasher; Microwave (above stove); Free-standing gas range; Refrigerator
• Bedrooms: Primary suite with double vanity, garden tub, private bath, walk-in closet, private closet and separate water closet (located on second level); Bedroom 2 with private closet and carpet (located on main level); Bedrooms 3, 4, and 5 each with private closet and carpet (located on second level)
• Flooring: Luxury vinyl plank in main living areas; Carpet in bedrooms
• Bathrooms: Three full bathrooms total, including two secondary full baths and one main full bath
• Heating & cooling: Central air conditioning; Gas heating on both first and second levels
• Interior features: Garage opener; Attic with pull-down access; Tankless water heater; Gas water heater
• Laundry & utility: Washer and dryer included; laundry located on second level

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $370k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $364k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#58 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety 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: Bethel-Hanberry Elementary (math 48% / reading 49%, grade D, #193 of 597 statewide, top 33%, 759 students, 56% FRL); Westwood High (math 47% / reading 87%, grade B, #73 of 196 statewide, top 41%, 1,684 students, 66% FRL) — zoned schools average 61% FRL vs 38% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 58% at this address vs 41% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Richland 02 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 650 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• At $3,819/mo this rent would consume 48% of the median local household income ($95k/yr) (locally 559% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 15 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

Recommended offer $364,440 (1.5% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-33,173
• Equity at exit: $55,167

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $5,828
• Equity at exit: $31,990

Cash invested: $103,597 (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 29016

• Home prices YoY: -26.3%
• Active inventory: 650
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,819 medium
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• HOA: −$41
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $419

Break-even live

Break-even rent $3,289

Max offer price $369,990

Occupancy floor 84%

Sensitivity live

Price	-10% $675	-5% $547	+0% $419	+5% $291	+10% $163
Rent	-10% $117	-5% $268	+0% $419	+5% $570	+10% $721
Rate	-1.0pp $606	-0.5pp $513	base $419	+0.5pp $323	+1.0pp $226

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: $92,498
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
563 Roseridge Dr Blythewood, SC	5.0	3.0	2555	$3,619	$1.42	4d	1	0.46mi
434 Rocky Bark Ln Blythewood, SC	5.0	2.5	3200	$3,200	$1.00	4d	1	1.06mi

HOA detail

• Monthly dues: $41 · $492/yr

Listing history 12 events

1. 2026-06-18
   days on market $369,990 Active 15 DOM
2. 2026-06-17
   days on market $369,990 Active 14 DOM
3. 2026-06-16
   days on market $369,990 Active 13 DOM
4. 2026-06-15
   days on market $369,990 Active 12 DOM
5. 2026-06-14
   days on market $369,990 Active 10 DOM
6. 2026-06-13
   pricedays on market $369,990 Active 9 DOM
7. 2026-06-10
   days on market $384,455 Active 7 DOM
8. 2026-06-09
   days on market $384,455 Active 6 DOM
9. 2026-06-08
   days on market $384,455 Active 5 DOM
10. 2026-06-07
    days on market $384,455 Active 4 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $384,455 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $45,829
• − Mortgage interest: −$20,725
• − Property taxes: −$5,550
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,666
• − Management: −$3,666
• − HOA: −$492
• − Depreciation: −$10,763
• Taxable loss: −$884
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $5,242/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This new construction home in Blythewood, SC is in excellent condition with no visible repairs needed. It offers a spacious layout, modern finishes, and a well-maintained exterior. Potential buyers and renters will appreciate the curb appeal and smart home features that can be added to further enhance the property's value.

Value-add opportunities

• Resale Painting the exterior siding — Enhances curb appeal and can increase property value
• Resale Landscaping improvements — Enhances curb appeal and can increase property value
• Both Adding smart home features — Improves home automation and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Enhances curb appeal and can increase property value ↑
• Resale Landscaping improvements — Enhances curb appeal and can increase property value ↑
• Both Adding smart home features — Improves home automation and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Blythewood

• Score: 70/100
• State rank: #58
• US rank: #7406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Richland County · 389,530 people
• City population: 30,454
• Metro: Columbia, SC
• Population (ZIP): 30,454
• Household income: $95,082
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 559.0

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 0.64)
• Race & ethnicity: Black 43% White 42% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% German/W. Germanic 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: ▼ -65.48%
• Current HPI: 183.5933
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-03 Listed $384,455 Consolidated MLS