340 Old Mill Rd Space 242Santa BarbaraCA93110
INVESTMENT ANALYSIS
Investment Verdict
Solid Income340 Old Mill Rd Space 242, Santa Barbara, CA, 93110 in Santa Barbara is a solid income-producing rental, 8.13% gross yield, $5,953/mo rent, $516/mo net cash flow on a $879,000 buy. DSCR 1.51 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $242,851 and $8,096/yr in principal reduction project a total cumulative return of $366,425.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 5.0% |
| Monthly Cash Flow | $516 | $1,500 |
City averages based on Santa Barbara market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,953 |
| Total Monthly Debt Service | $5,088 |
| DSCR Ratio | 1.17x |
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.
Manufactured
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93110, Santa Barbara, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,330 (100%) |
| Owner Occupied HU | 3,506 (55.4%) |
| Renter Occupied HU | 2,392 (37.8%) |
| Vacant Housing Units | 432 ( 6.8%) |
| Median Home Value | $1,231,911 |
| Average Home Value | $1,323,908 |
Housing Distribution
Address Breakdown
Residential
6,581
Single Family
5,857
Multi-Family
724
Businesses
212
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
Manufactured
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93110, Santa Barbara, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,330 (100%) |
| Owner Occupied HU | 3,506 (55.4%) |
| Renter Occupied HU | 2,392 (37.8%) |
| Vacant Housing Units | 432 ( 6.8%) |
| Median Home Value | $1,231,911 |
| Average Home Value | $1,323,908 |
Housing Distribution
Address Breakdown
Residential
6,581
Single Family
5,857
Multi-Family
724
Businesses
212
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Marie Sue Parsons & Stephanie Young • Berkshire Hathaway HomeServices California Properties
Mls Name: SBMLS
Mls ID: #26-233