2131 Leatherstone Ln · Blythewood, SC 29016

$324,900

4 bd · 2.0 ba · 1,774 sqft · SingleFamily · 146 Days on market

Built 2025 6,969 sqft lot $41/mo HOA · 1% of rent ↓ 6% since listing

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the desirable Leatherstone neighborhood and zoned for award-winning Richland 2 schools, this move-in ready 4 bed/2 bath single-story home offers comfort, style, and convenience. The flowing layout is filled with natural light and features a spacious, bright eat-in kitchen with stunning quartz countertops, a bar for seating, a walk-in pantry, and abundant counter and cabinet space. The kitchen opens seamlessly into the cozy living room, creating an inviting space for everyday living and entertaining. The owner’s suite is a relaxing retreat with a walk-in closet and a large en suite bath featuring a soaking tub and a luxurious walk-in shower. Each additional bedroom offers am

Key facts

• Quartz countertops
• Walk-in closet
• Richland 2 schools

Tags

• RICHLAND 2 SCHOOLS
• EAT-IN KITCHEN
• QUARTZ COUNTERTOPS
• WALK-IN PANTRY
• OWNER'S SUITE
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Homeowners association with fees covering common area maintenance

Exterior

• Parking: Attached garage with 2 garage spaces (main level)
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Fiber cement (Hardy Plank) exterior finish; Slab foundation
• Exterior features: Covered front porch; Covered back porch; Full gutters; Sprinkler system; Paved road access

Interior

• Kitchen: Quartz countertops; Tiled backsplash; Microwave above stove; Dishwasher; Garbage disposal; Gas range
• Bedrooms: Master bedroom with double vanity, garden tub, private bath, separate shower and walk-in closet (main level); Three additional bedrooms with shared baths, private closets and ceiling fans (main level)
• Flooring: Luxury vinyl plank in main living areas; Carpet in bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Gas heating on first level
• Interior features: Ceiling fans in master bedroom, living room and other bedrooms; Tankless water heater; Dishwasher, garbage disposal, microwave above stove; Luxury vinyl plank flooring in living areas; Carpeted bedrooms; Backsplash tile and quartz countertops in kitchen; Heated laundry space
• Laundry & utility: Heated laundry space; Tankless water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (14.6% below list).
• Recommended offer: $278k (14.6% below list) — sets the bar for 1% rule.

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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,472 units permitted in Richland County in 2024 (1,096 in 5+ unit buildings).
• This rent runs 35% of the median local income ($95k/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 $10k 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 146 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts 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.

Recommended offer $277,512 (14.6% 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 146 days. Have you received any prior offers? Is the seller open to a 15% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.85% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• GRM: 9.8

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-58,565
• Equity at exit: $48,444

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-58,432
• Equity at exit: $28,091

Cash invested: $90,972 (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: 9.8×

Monthly cashflow live

• Estimated rent: $2,775 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,874/yr
• Insurance: −$135
• HOA: −$41
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-94

Break-even live

Break-even rent $2,894

Max offer price $311,303

Occupancy floor 98%

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
948 Beaufort Farm Rd Blythewood, SC	3.0	2.5	1986	$2,200	$1.11	3d	1	0.47mi
227 Honey Hill Way Blythewood, SC	3.0	2.5	1689	$2,180	$1.29	3d	1	0.82mi
242 Honey Hill Way Blythewood, SC	4.0	2.5	1926	$2,750	$1.43	11d	1	0.83mi
18 Iron Horse Ct Blythewood, SC	5.0	3.0	2245	$2,539	$1.13	3d	1	0.93mi
232 Boulder Ridge Loop Blythewood, SC	4.0	2.5	1902	$2,299	$1.21	14d	1	1.01mi
254 Boulder Ridge Loop Blythewood, SC	5.0	3.0	2245	$2,539	$1.13	3d	1	1.05mi

HOA detail

• Monthly dues: $41 · $492/yr

Listing history 50 events

1. 2026-06-18
   days on market $324,900 Active 146 DOM
2. 2026-06-17
   days on market $324,900 Active 145 DOM
3. 2026-06-16
   days on market $324,900 Active 144 DOM
4. 2026-06-15
   days on market $324,900 Active 143 DOM
5. 2026-06-14
   days on market $324,900 Active 141 DOM
6. 2026-06-13
   days on market $324,900 Active 140 DOM
7. 2026-06-10
   days on market $324,900 Active 138 DOM
8. 2026-06-09
   days on market $324,900 Active 137 DOM
9. 2026-06-08
   days on market $324,900 Active 136 DOM
10. 2026-06-07
    days on market $324,900 Active 135 DOM
11. 2026-06-05
    days on market $324,900 Active 132 DOM
12. 2026-06-03
    days on market $324,900 Active 131 DOM
13. 2026-06-03
    days on market $324,900 Active 130 DOM
14. 2026-06-01
    days on market $324,900 Active 129 DOM
15. 2026-05-31
    days on market $324,900 Active 128 DOM
16. 2026-03-27
    status Pending
17. 2026-01-23
    listed $325,000 Active
18. 2025-12-17
    price $345,000
19. 2025-11-26
    status Pending
20. 2025-11-07
    price $355,000
21. 2025-11-03
    status Pending
22. 2025-10-23
    price $329,990
23. 2025-10-22
    status Active
24. 2025-10-20
    price $365,000
25. 2025-10-20
    status Pending
26. 2025-10-06
    status Pending
27. 2025-10-02
    price $350,000
28. 2025-10-01
    status Active
29. 2025-09-27
    price $330,000
30. 2025-09-27
    price $360,000
31. 2025-09-27
    price $379,990
32. 2025-09-22
    price $331,990
33. 2025-09-22
    price $361,990
34. 2025-09-22
    price $382,000
35. 2025-09-06
    price $380,000
36. 2025-09-02
    status Pending
37. 2025-08-16
    price $359,990
38. 2025-08-16
    price $345,000
39. 2025-08-16
    price $329,990
40. 2025-08-16
    price $385,000
41. 2025-08-12
    listed $388,190 Active
42. 2025-07-22
    price $349,990
43. 2025-07-22
    price $335,000
44. 2025-07-22
    price $365,000
45. 2025-07-19
    price $340,000
46. 2025-07-18
    price $355,000
47. 2025-07-18
    price $369,990
48. 2025-07-11
    listed $357,370 Active
49. 2025-07-11
    listed $370,340 Active
50. 2025-07-02
    listed $344,470 Active

ⓘ 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: $33,301
• − Mortgage interest: −$18,199
• − Property taxes: −$4,874
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,664
• − Management: −$2,664
• − HOA: −$492
• − Depreciation: −$9,452
• Taxable loss: −$6,668
• Est. tax savings @ 24.0%: +$1,600
• After-tax cash flow: $473/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 — 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

• Census place: Blythewood, SC
• 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

-5.7% since first listed

35 events — show timeline

• 2026-03-27 Pending — Consolidated MLS
• 2026-01-23 Listed $325,000 Consolidated MLS
• 2025-12-17 Price Changed $345,000 Consolidated MLS
• 2025-11-26 Pending — Consolidated MLS
• 2025-11-07 Price Changed $355,000 Consolidated MLS
• 2025-11-03 Pending — Consolidated MLS
• 2025-10-23 Price Changed $329,990 Consolidated MLS
• 2025-10-22 Relisted — Consolidated MLS
• 2025-10-20 Price Changed $365,000 Consolidated MLS
• 2025-10-20 Pending — Consolidated MLS
• 2025-10-06 Pending — Consolidated MLS
• 2025-10-02 Price Changed $350,000 Consolidated MLS
• 2025-10-01 Relisted — Consolidated MLS
• 2025-09-27 Price Changed $330,000 Consolidated MLS
• 2025-09-27 Price Changed $360,000 Consolidated MLS
• 2025-09-27 Price Changed $379,990 Consolidated MLS
• 2025-09-22 Price Changed $331,990 Consolidated MLS
• 2025-09-22 Price Changed $361,990 Consolidated MLS
• 2025-09-22 Price Changed $382,000 Consolidated MLS
• 2025-09-06 Price Changed $380,000 Consolidated MLS
• 2025-09-02 Pending — Consolidated MLS
• 2025-08-16 Price Changed $359,990 Consolidated MLS
• 2025-08-16 Price Changed $345,000 Consolidated MLS
• 2025-08-16 Price Changed $329,990 Consolidated MLS
• 2025-08-16 Price Changed $385,000 Consolidated MLS
• 2025-08-12 Listed $388,190 Consolidated MLS
• 2025-07-22 Price Changed $349,990 Consolidated MLS
• 2025-07-22 Price Changed $335,000 Consolidated MLS
• 2025-07-22 Price Changed $365,000 Consolidated MLS
• 2025-07-19 Price Changed $340,000 Consolidated MLS
• 2025-07-18 Price Changed $355,000 Consolidated MLS
• 2025-07-18 Price Changed $369,990 Consolidated MLS
• 2025-07-11 Listed $370,340 Consolidated MLS
• 2025-07-11 Listed $357,370 Consolidated MLS
• 2025-07-02 Listed $344,470 Consolidated MLS