423 Leathertree Ln · Blythewood, SC 29016

$369,990

5 bd · 3.0 ba · 2,511 sqft · SingleFamily · 12 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 +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock your dream home at 423 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 a covered back patio to enjoy the peaceful atmosphere of Leatherstone from. Inside, this Hayden floorplan offers 5 bedrooms, 3 bathrooms, a first-floor flex space, 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 4 bedrooms are upstairs. The kitchen space is open concept and features a floating island, beautiful quartz countertops, backsplash, and gray shaker-

Key facts

• Hardie plank siding
• Open concept kitchen
• Floating island

Tags

• NEW CONSTRUCTION
• HARDIE PLANK SIDING
• COVERED BACK PATIO
• FIRST-FLOOR FLEX SPACE
• OPEN CONCEPT KITCHEN
• FLOATING ISLAND

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 $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).

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 $3,820/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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $369,990

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: 7.66%
• Cash-on-cash: 4.87%
• 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: $-33,117
• Equity at exit: $55,167

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $5,949
• 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: $3,820 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: $420

Break-even live

Break-even rent $3,289

Max offer price $369,990

Occupancy floor 84%

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	2d	1	0.44mi
434 Rocky Bark Ln Blythewood, SC	5.0	2.5	3200	$3,200	$1.00	3d	1	1.04mi

HOA detail

• Monthly dues: $41 · $492/yr

Listing history 10 events

1. 2026-06-09
   status $369,990 Pending 12 DOM
2. 2026-06-08
   days on market $369,990 Active 12 DOM
3. 2026-06-07
   days on market $369,990 Active 11 DOM
4. 2026-06-05
   days on market $369,990 Active 8 DOM
5. 2026-06-03
   days on market $369,990 Active 7 DOM
6. 2026-06-03
   days on market $369,990 Active 6 DOM
7. 2026-06-01
   days on market $369,990 Active 5 DOM
8. 2026-05-31
   days on market $369,990 Active 4 DOM
9. 2026-03-18
   status Pending
10. 2026-03-16
    listed $365,000 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: $45,843
• − Mortgage interest: −$20,725
• − Property taxes: −$5,550
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,667
• − Management: −$3,667
• − HOA: −$492
• − Depreciation: −$10,763
• Taxable loss: −$872
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $5,250/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 · 12 photos

Excellent 100/100 None rehab

This new construction home in Blythewood, SC is move-in ready with excellent condition and modern features. It offers spacious living areas, multiple bathrooms, and a well-maintained exterior. Potential buyers and renters will appreciate the home's curb appeal and interior aesthetics.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Replace carpet with hardwood in bedrooms — Hardwood floors are more durable and can increase both resale and rental value.
• Both Install modern light fixtures throughout — Modern lighting can improve the home's curb appeal and interior ambiance.
• Both Add smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Replace carpet with hardwood in bedrooms — Hardwood floors are more durable and can increase both resale and rental value. ↑
• Both Install modern light fixtures throughout — Modern lighting can improve the home's curb appeal and interior ambiance. ↑
• Both Add smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient. ↑

ⓘ 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

2 events — show timeline

• 2026-03-18 Pending — Consolidated MLS
• 2026-03-16 Listed $365,000 Consolidated MLS