412 Leathertree Ln · Blythewood, SC 29016

$380,000

5 bd · 3.5 ba · 2,713 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +5.0/10.0
• 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

Welcome to the Elle at 412 Leathertree Lane, a beautiful new construction home in Blythewood, SC! This home features durable Hardie Plank siding, partial brick exterior, and a covered front and back patios! Inside, the floorplan features 5 bedrooms and 3.5 bathrooms, with the primary suite on the first floor. The primary suite includes a generous primary bathroom and spacious walk-in closet. The kitchen boasts a large floating island with room for seating and opens to the casual dining area and open family room. The kitchen also comes finished with white quartz countertops, tile backsplash, and gray shaker-style cabinetry (although white is pictured). There is also a wonderful flex space on

Key facts

• Hardie plank siding
• Tile backsplash
• 6,098 sq ft lot

Tags

• HARDIE PLANK SIDING
• PARTIAL BRICK EXTERIOR
• COVERED FRONT AND BACK PATIOS
• LARGE FLOATING ISLAND
• TILE BACKSPLASH
• GRAY SHAKER-STYLE CABINETRY

Property features AI

Finance

• HOA & community: Homeowner association present; Association maintains common areas and green spaces

Exterior

• Parking: Attached garage with 2 garage spaces
• Utilities: Public sewer; Public water; Standard electrical service
• Home design: Two-story home; Slab foundation
• Construction: Slab foundation; Brick partial and fiber cement exterior
• Exterior features: Covered front porch; Covered back porch; Partial brick above foundation; Fiber cement (HardiePlank) siding; Paved road access; Public water

Interior

• Kitchen: Eat-in kitchen with island; Pantry; Painted cabinets; Quartz countertops; Dishwasher; Microwave (above stove); Luxury vinyl plank flooring in kitchen
• Bedrooms: Primary bedroom on main level with double vanity, garden tub, private bath, separate shower and walk-in closet; Additional bedrooms on second level with walk-in closets and carpeted floors; Other upper-level bedrooms with private closets and carpeted floors
• Flooring: Luxury vinyl plank in living areas and kitchen; Carpet in bedrooms
• Bathrooms: Three full bathrooms; One partial bathroom; Main level has one full bath and one half bath; Two full secondary bathrooms
• Heating & cooling: Central cooling; Gas heating on both first and second levels
• Interior features: Garage opener; Pull-down attic access; Tankless water heater; Gas water heater; Free-standing gas range
• Laundry & utility: Washer/dryer located on second level

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $380k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $380k).
• Recommended offer: $374k (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 $3,815/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 ($374k) is reasonable based on typical stale-listing flexibility.

Recommended offer $374,300 (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: 1.00% ✓
• Cap rate: 7.39%
• Cash-on-cash: 3.91%
• DSCR: 1.17
• GRM: 8.3

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-39,391
• Equity at exit: $56,659

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-5,505
• Equity at exit: $32,855

Cash invested: $106,400 (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: 8.3×

Monthly cashflow live

• Estimated rent: $3,815 medium
• Mortgage (P&I): −$1,993
• Tax est. 1.5%: −$475 /mo · $5,700/yr
• Insurance: −$158
• HOA: −$41
• Vacancy / Maint / Mgmt: −$801
• Net cashflow: $347

Break-even live

Break-even rent $3,376

Max offer price $380,000

Occupancy floor 86%

Sensitivity live

Price	-10% $610	-5% $478	+0% $347	+5% $216	+10% $84
Rent	-10% $46	-5% $196	+0% $347	+5% $498	+10% $648
Rate	-1.0pp $538	-0.5pp $444	base $347	+0.5pp $249	+1.0pp $148

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: $95,000
• Closing costs: $11,400
• 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	3d	1	0.44mi
434 Rocky Bark Ln Blythewood, SC	5.0	2.5	3200	$3,200	$1.00	4d	1	1.04mi

HOA detail

• Monthly dues: $41 · $492/yr

Listing history 12 events

1. 2026-06-18
   days on market $380,000 Active 15 DOM
2. 2026-06-17
   days on market $380,000 Active 14 DOM
3. 2026-06-16
   days on market $380,000 Active 13 DOM
4. 2026-06-15
   days on market $380,000 Active 12 DOM
5. 2026-06-14
   days on market $380,000 Active 10 DOM
6. 2026-06-13
   pricedays on market $380,000 Active 9 DOM
7. 2026-06-10
   days on market $405,030 Active 7 DOM
8. 2026-06-09
   days on market $405,030 Active 6 DOM
9. 2026-06-08
   days on market $405,030 Active 5 DOM
10. 2026-06-07
    days on market $405,030 Active 4 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $405,030 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: $45,784
• − Mortgage interest: −$21,286
• − Property taxes: −$5,700
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,663
• − Management: −$3,663
• − HOA: −$492
• − Depreciation: −$11,055
• Taxable loss: −$1,974
• Est. tax savings @ 24.0%: +$474
• After-tax cash flow: $4,638/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 a dark blue Hardie Plank siding and a partial brick exterior. The interior is well-maintained with white walls and a large kitchen island. The home is move-in ready and has the potential for minor updates to further enhance its value.

Value-add opportunities

• Both Paint the interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Install new flooring in the bathrooms — New flooring can improve the home's appearance and functionality.
• Both Add a backsplash in the kitchen — A backsplash can add a modern touch and protect the walls from spills and stains.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Install new flooring in the bathrooms — New flooring can improve the home's appearance and functionality. ↑
• Both Add a backsplash in the kitchen — A backsplash can add a modern touch and protect the walls from spills and stains. ↑

ⓘ 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 $405,030 Consolidated MLS