1218 N Norwhich LnSpartanburgSC29301
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 1218 N Norwhich Ln, Spartanburg, SC, 29301 in Spartanburg. Priced at $199,980, it generates $1,982/mo in gross rent and $792/mo in net monthly cash flow, a 11.9% yield that comfortably supports the 2.20 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $9,504. Five-year appreciation: $55,251. Equity from principal paydown: $1,842/yr. Total projected cumulative return: $126,592.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.9% | 6.8% |
| Monthly Cash Flow | $792 | $325 |
City averages based on Spartanburg market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,982 |
| Total Monthly Debt Service | $1,111 |
| DSCR Ratio | 1.78x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Townhouse
Built in N/A
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29301, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,504 (100%) |
| Owner Occupied HU | 8,872 (50.7%) |
| Renter Occupied HU | 6,857 (39.2%) |
| Vacant Housing Units | 1,775 (10.1%) |
| Median Home Value | $234,576 |
| Average Home Value | $271,423 |
Housing Distribution
Address Breakdown
Residential
15,828
Single Family
13,183
Multi-Family
2,645
Businesses
1,336
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Townhouse
Built in N/A
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29301, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,504 (100%) |
| Owner Occupied HU | 8,872 (50.7%) |
| Renter Occupied HU | 6,857 (39.2%) |
| Vacant Housing Units | 1,775 (10.1%) |
| Median Home Value | $234,576 |
| Average Home Value | $271,423 |
Housing Distribution
Address Breakdown
Residential
15,828
Single Family
13,183
Multi-Family
2,645
Businesses
1,336
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Olga Bridges • Success Properties, LLC
Mls Name: Greater Greenville AOR
Mls ID: #1564666