507 Belmont StSpartanburgSC29303
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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
Investment property for sale in Spartanburg at 507 Belmont St, Spartanburg, SC, 29303 uses $60,665 cash to close to unlock $6,304/yr annual cash flow and $525/mo monthly cash flow. Total monthly income runs $1,615/mo, and a $896/mo payment keeps the spread at $525/mo. Purchase price stands at $183,000, and rental yield measures 10.59% with $1,615/mo rent. Return on cash invested shows 30.3% in year one, and 5% annual appreciation builds toward $50,560 over five years. Five-year ROI reaches 158.32% and total cumulative return in cash records $96,047. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,615/mo property income covering a $896/mo payment rather than investor’s personal income.
Multi Family
Built in 1948
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29303, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,934 (100%) |
| Owner Occupied HU | 5,515 (46.2%) |
| Renter Occupied HU | 4,926 (41.3%) |
| Vacant Housing Units | 1,493 (12.5%) |
| Median Home Value | $174,936 |
| Average Home Value | $223,304 |
Housing Distribution
Address Breakdown
Residential
10,568
Single Family
8,920
Multi-Family
1,648
Businesses
1,197
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Listed by: David Poe • Reedy Property Group, Inc
Mls Name: Greater Greenville AOR
Mls Provider:
Mls ID: #1526661
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.