2205 Edgefield RdSpartanburgSC29302
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderReliable, bankable, and well-priced, 2205 Edgefield Rd, Spartanburg, SC, 29302 in Spartanburg delivers $3,134/mo in gross rent and $283/mo in net monthly income at a $479,000 entry. The 7.85% yield and 1.45 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $132,339 over five years and $4,412/yr in equity from loan paydown, total projected return is $199,363.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 6.8% |
| Monthly Cash Flow | $283 | $325 |
City averages based on Spartanburg market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,134 |
| Total Monthly Debt Service | $2,661 |
| DSCR Ratio | 1.18x |
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.
Single Family
Built in 1961
0.76 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29302, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,226 (100%) |
| Owner Occupied HU | 5,544 (67.4%) |
| Renter Occupied HU | 2,067 (25.1%) |
| Vacant Housing Units | 615 ( 7.5%) |
| Median Home Value | $288,433 |
| Average Home Value | $345,926 |
Housing Distribution
Address Breakdown
Residential
8,115
Single Family
7,309
Multi-Family
806
Businesses
716
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
Single Family
Built in 1961
0.76 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29302, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,226 (100%) |
| Owner Occupied HU | 5,544 (67.4%) |
| Renter Occupied HU | 2,067 (25.1%) |
| Vacant Housing Units | 615 ( 7.5%) |
| Median Home Value | $288,433 |
| Average Home Value | $345,926 |
Housing Distribution
Address Breakdown
Residential
8,115
Single Family
7,309
Multi-Family
806
Businesses
716
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kevin Miller • NextHome Experience Realty
Mls Name: SAR
Mls ID: #329080