365 Forest AveSpartanburgSC29302
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
Investment Highlights
Rental property for sale in Spartanburg at 365 Forest Ave, Spartanburg, SC, 29302 priced at $229,000 converts $1,859/mo rent into $496/mo cash flow after a $1,121/mo obligation. Total monthly income equals $1,859/mo, and annual cash flow totals $5,948/yr on $75,914 invested. Return on cash invested prints 27.74% in year one, and rental yield reads 9.74% against a $229,000 entry. Equity gained on principal adds $1,478/yr, while 5% annual appreciation compiles into $63,268 by year five. Five-year ROI reaches 144.55% and total cumulative return in cash sums $109,733. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,859/mo property income covering a $1,121/mo payment, not borrower’s personal income.
Single Family
Built in 1949
0.29 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Carole Walker • Keller Williams Realty
Mls Name: SAR
Mls ID: #332470