116 S 2nd AveLake CitySC29560
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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 Lake City at 116 S 2nd Ave, Lake City, SC, 29560 generates $2,557/mo in rent and, after a $1,566/mo payment, leaves $652/mo in cash flow. Total monthly income is $2,557/mo, and annual cash flow is $7,828/yr on $106,080 invested. Return on cash invested sits at 27.29% in year one, and rental yield is 9.59% on a $319,999 entry. Equity gained on principal adds $2,065/yr, while 5% annual appreciation builds toward $88,410 over five years. Five-year ROI reaches 142.12% and total cumulative return in cash sums $150,759. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,557/mo property income rather than buyer’s personal income.
Single Family
Built in 1949
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29560, Lake City, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,880 (100%) |
| Owner Occupied HU | 3,381 (57.5%) |
| Renter Occupied HU | 1,748 (29.7%) |
| Vacant Housing Units | 751 (12.8%) |
| Median Home Value | $144,662 |
| Average Home Value | $177,913 |
Housing Distribution
Address Breakdown
Residential
5,338
Single Family
5,243
Multi-Family
95
Businesses
661
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Listed by: Karon M Epps • Epps Miles Eaddy Realty Inc
Mls Name: Pee Dee Realtor Association
Mls ID: #20254736