155 E Broad St APT 306SpartanburgSC29306
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.03% yield at 155 E Broad St APT 306, Spartanburg, SC, 29306 in Spartanburg is solid, but the $1,056/mo payment compresses net cash flow to $174/mo at $234,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $64,899 by year five, and $2,163/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.49) without U.S. income documentation. Total projected return: $100,055.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.8% |
| Monthly Cash Flow | $174 | $325 |
City averages based on Spartanburg market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,572 |
| Total Monthly Debt Service | $1,305 |
| DSCR Ratio | 1.20x |
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.
Condo
Built in 2008
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29306, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,727 (100%) |
| Owner Occupied HU | 3,307 (42.8%) |
| Renter Occupied HU | 3,746 (48.5%) |
| Vacant Housing Units | 674 ( 8.7%) |
| Median Home Value | $203,978 |
| Average Home Value | $261,168 |
Housing Distribution
Address Breakdown
Residential
7,528
Single Family
6,200
Multi-Family
1,328
Businesses
695
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
Condo
Built in 2008
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29306, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,727 (100%) |
| Owner Occupied HU | 3,307 (42.8%) |
| Renter Occupied HU | 3,746 (48.5%) |
| Vacant Housing Units | 674 ( 8.7%) |
| Median Home Value | $203,978 |
| Average Home Value | $261,168 |
Housing Distribution
Address Breakdown
Residential
7,528
Single Family
6,200
Multi-Family
1,328
Businesses
695
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Aimee Peterson • Better Homes And Gardens
Mls Name: WUMLS
Mls ID: #20292728