102 Backspin DrElginSC29045
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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 Elgin at 102 Backspin Dr, Elgin, SC, 29045 uses $135,882 cash to close to unlock $3,422/yr annual cash flow and $285/mo monthly cash flow. Total monthly income runs $2,957/mo, and a $2,006/mo payment keeps the spread at $285/mo. Purchase price stands at $409,900, and rental yield measures 8.66% with $2,957/mo rent. Return on cash invested shows 22.43% in year one, and 5% annual appreciation builds toward $113,248 over five years. Five-year ROI reaches 116.8% and total cumulative return in cash records $158,704. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,957/mo property income covering a $2,006/mo payment rather than investor’s personal income.
Single Family
Built in 2022
6,098 sqft lot
$N/A/sqft
$232 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29045, Elgin, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,039 (100%) |
| Owner Occupied HU | 9,414 (78.2%) |
| Renter Occupied HU | 1,752 (14.6%) |
| Vacant Housing Units | 873 ( 7.3%) |
| Median Home Value | $279,894 |
| Average Home Value | $321,774 |
Housing Distribution
Address Breakdown
Residential
13,024
Single Family
12,229
Multi-Family
795
Businesses
415
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Listed by: Trey Brave • NextHome Midlands
Mls Name: Consolidated MLS
Mls Provider:
Mls ID: #605535
Disclaimer: IDX listing data provided courtesy of Consolidated MLS - Columbia, SC