233 Loring StSpartanburgSC29302
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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 Spartanburg at 233 Loring St, Spartanburg, SC, 29302 generates $1,929/mo in rent and, after a $979/mo payment, leaves $738/mo in cash flow. Total monthly income is $1,929/mo, and annual cash flow is $8,860/yr on $66,300 invested. Return on cash invested sits at 33.27% in year one, and rental yield is 11.57% on a $200,000 entry. Equity gained on principal adds $1,291/yr, while 5% annual appreciation builds toward $55,256 over five years. Five-year ROI reaches 174.26% and total cumulative return in cash sums $115,532. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,929/mo property income rather than buyer’s personal income.
Single Family
Built in 1962
0.45 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
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Listed by: Kolbe Pruitt • Beyond Real Estate
Mls Name: SAR
Mls ID: #332128