1124 Cleve Gosnell LnSpartanburgSC29303
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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
Rental property for sale in Spartanburg at 1124 Cleve Gosnell Ln, Spartanburg, SC, 29303 priced at $248,450 converts $1,943/mo rent into $431/mo cash flow after a $1,216/mo obligation. Total monthly income equals $1,943/mo, and annual cash flow totals $5,169/yr on $82,361 invested. Return on cash invested prints 26.18% in year one, and rental yield reads 9.38% against a $248,450 entry. Equity gained on principal adds $1,603/yr, while 5% annual appreciation compiles into $68,642 by year five. Five-year ROI reaches 136.36% and total cumulative return in cash sums $112,311. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,943/mo property income covering a $1,216/mo payment, not borrower’s personal income.
Single Family
Built in 2024
5,227 sqft lot
$N/A/sqft
$400 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29303, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,934 (100%) |
| Owner Occupied HU | 5,515 (46.2%) |
| Renter Occupied HU | 4,926 (41.3%) |
| Vacant Housing Units | 1,493 (12.5%) |
| Median Home Value | $174,936 |
| Average Home Value | $223,304 |
Housing Distribution
Address Breakdown
Residential
10,568
Single Family
8,920
Multi-Family
1,648
Businesses
1,197
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Listed by: Nick Allen • Cornerstone Real Estate Group
Mls Name: SAR
Mls Provider:
Mls ID: #309672
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.