291 Ferndale DrBoiling SpringsSC29316
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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 Boiling Springs at 291 Ferndale Dr, Boiling Springs, SC, 29316 offers $2,040/mo rent that, after a $1,322/mo payment, leaves $432/mo cash flow. Total monthly income is $2,040/mo, and annual cash flow is $5,187/yr on $89,505 cash. Return on cash invested measures 25.7% in year one, and rental yield stands at 9.07% at a $270,000 entry. Equity gained on principal adds $1,742/yr while 5% annual appreciation compounds into $74,596 by year five. Five-year ROI records 133.64% and total cumulative return in cash reaches $119,617. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,040/mo property income versus a $1,322/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1973
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29316, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,048 (100%) |
| Owner Occupied HU | 9,590 (73.5%) |
| Renter Occupied HU | 2,897 (22.2%) |
| Vacant Housing Units | 561 ( 4.3%) |
| Median Home Value | $253,865 |
| Average Home Value | $283,497 |
Housing Distribution
Address Breakdown
Residential
13,994
Single Family
13,201
Multi-Family
793
Businesses
802
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Listed by: Judy Smith • NorthGroup Real Estate
Mls Name: SAR
Mls ID: #328716