1007 Backman RdLexingtonSC29073
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Lexington at 1007 Backman Rd, Lexington, SC, 29073 offers a 9.39% rental yield on a $260,800 purchase with $2,040/mo rent. Total monthly income registers $2,040/mo, and a $1,276/mo payment leaves $488/mo available for distribution. Annual cash flow reaches $5,856/yr on $86,455 to close, and return on cash invested stands at 26.68% in year one. Equity gained on principal adds $1,683/yr while 5% annual appreciation supports $72,054 over five years. Portfolio math shows five-year ROI at 138.83% and total cumulative return in cash at $120,029. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,040/mo property income against a $1,276/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1976
0.73 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29073, Lexington, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,366 (100%) |
| Owner Occupied HU | 17,189 (80.5%) |
| Renter Occupied HU | 2,899 (13.6%) |
| Vacant Housing Units | 1,278 ( 6.0%) |
| Median Home Value | $239,149 |
| Average Home Value | $263,127 |
Housing Distribution
Address Breakdown
Residential
21,069
Single Family
20,814
Multi-Family
255
Businesses
883
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Listed by: Micah Norman • Keller Williams Palmetto
Mls Name: Consolidated MLS
Mls ID: #622613