411 Promised Land DrSpartanburgSC29306
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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 411 Promised Land Dr, Spartanburg, SC, 29306 priced at $242,000 pairs $1,690/mo rent with $250/mo cash flow after a $1,184/mo payment. Total monthly income equals $1,690/mo, and annual cash flow comes to $2,999/yr on $80,223 invested. Return on cash invested is 23.65% in year one, and rental yield stands at 8.38% on a $242,000 basis. Equity gained on principal adds $1,562/yr, and 5% annual appreciation accumulates to $66,860 by year five. Five-year ROI measures 122.56% and total cumulative return in cash reaches $98,322. For financing, Ziffy Mortgage’s DSCR program evaluates $1,690/mo property income against a $1,184/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2018
4,791 sqft 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: Pamela Wassermann • Real Broker, LLC
Mls Name: SAR
Mls ID: #327773