114 Fernridge DrSpartanburgSC29307
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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 Spartanburg at 114 Fernridge Dr, Spartanburg, SC, 29307 with 5% annual appreciation on a $143,200 basis while $1,429/mo rent supports operations. Total monthly income totals $1,429/mo and a $701/mo payment preserves $225/mo for cash returns. Annual cash flow comes to $2,702/yr on $47,471 deployed, and return on cash invested reaches 25.6% in year one. Equity gained on principal adds $924/yr, and five-year appreciation sums $39,564 alongside rental yield of 11.97%. Five-year ROI measures 136.37% and total cumulative return in cash totals $64,735.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,429/mo property income versus a $701/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1973
4,356 sqft lot
$N/A/sqft
$220 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29307, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,587 (100%) |
| Owner Occupied HU | 6,371 (60.2%) |
| Renter Occupied HU | 3,144 (29.7%) |
| Vacant Housing Units | 1,072 (10.1%) |
| Median Home Value | $265,403 |
| Average Home Value | $314,697 |
Housing Distribution
Address Breakdown
Residential
9,568
Single Family
8,052
Multi-Family
1,516
Businesses
510
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