292 College StSpartanburgSC29303
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 292 College St, Spartanburg, SC, 29303 in Spartanburg at $264,900 earns $1,804/mo in rent and nets $102/mo after the $1,191/mo payment, a 8.17% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $73,187 over five years. Ziffy Mortgage underwrites this on a 1.51 DSCR without U.S. credit history. With $2,440/yr in principal paydown, total projected return reaches $107,302.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 6.8% |
| Monthly Cash Flow | $102 | $325 |
City averages based on Spartanburg market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,804 |
| Total Monthly Debt Service | $1,597 |
| DSCR Ratio | 1.13x |
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 2024
1,742 sqft lot
$N/A/sqft
$125 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29303, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,934 (100%) |
| Owner Occupied HU | 5,515 (46.2%) |
| Renter Occupied HU | 4,926 (41.3%) |
| Vacant Housing Units | 1,493 (12.5%) |
| Median Home Value | $174,936 |
| Average Home Value | $223,304 |
Housing Distribution
Address Breakdown
Residential
10,568
Single Family
8,920
Multi-Family
1,648
Businesses
1,197
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 2024
1,742 sqft lot
$N/A/sqft
$125 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29303, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,934 (100%) |
| Owner Occupied HU | 5,515 (46.2%) |
| Renter Occupied HU | 4,926 (41.3%) |
| Vacant Housing Units | 1,493 (12.5%) |
| Median Home Value | $174,936 |
| Average Home Value | $223,304 |
Housing Distribution
Address Breakdown
Residential
10,568
Single Family
8,920
Multi-Family
1,648
Businesses
1,197
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Cynthia Searfoss • Coldwell Banker Caine Real Est
Mls Name: SAR
Mls Provider:
Mls ID: #314112
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.