409 Melbourne LnSpartanburgSC29301
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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 409 Melbourne Ln, Spartanburg, SC, 29301 offers $2,446/mo rent that, after a $1,361/mo payment, leaves $791/mo cash flow. Total monthly income is $2,446/mo, and annual cash flow is $9,489/yr on $92,157 cash. Return on cash invested measures 30.21% in year one, and rental yield stands at 10.56% at a $278,000 entry. Equity gained on principal adds $1,794/yr while 5% annual appreciation compounds into $76,806 by year five. Five-year ROI records 157.76% and total cumulative return in cash reaches $145,385. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,446/mo property income versus a $1,361/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2006
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29301, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,504 (100%) |
| Owner Occupied HU | 8,872 (50.7%) |
| Renter Occupied HU | 6,857 (39.2%) |
| Vacant Housing Units | 1,775 (10.1%) |
| Median Home Value | $234,576 |
| Average Home Value | $271,423 |
Housing Distribution
Address Breakdown
Residential
15,828
Single Family
13,183
Multi-Family
2,645
Businesses
1,336
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Listed by: Michael Fowler • Century 21 Blackwell & Co
Mls Name: SAR
Mls ID: #325821