338 Ridgewood AveSpartanburgSC29306
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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 338 Ridgewood Ave, Spartanburg, SC, 29306 priced at $198,900 converts $1,541/mo rent into $312/mo cash flow after a $974/mo obligation. Total monthly income equals $1,541/mo, and annual cash flow totals $3,747/yr on $65,935 invested. Return on cash invested prints 25.59% in year one, and rental yield reads 9.3% against a $198,900 entry. Equity gained on principal adds $1,283/yr, while 5% annual appreciation compiles into $54,952 by year five. Five-year ROI reaches 133.36% and total cumulative return in cash sums $87,935. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,541/mo property income covering a $974/mo payment, not borrower’s personal income.
Single Family
Built in 1925
0.36 Acres 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
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Listed by: Tatyana Curdoglo • Reznik Real Estate LLC
Mls Name: SAR
Mls Provider:
Mls ID: #318949
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.