610 S Converse StSpartanburgSC29306
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 610 S Converse St, Spartanburg, SC, 29306 in Spartanburg is capital appreciation. Rental yield 5.13%. The 5.13% gross yield at $288,000 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $79,569 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.99) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $79,260.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.1% | 6.8% |
| Monthly Cash Flow | $(528) | $325 |
City averages based on Spartanburg market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,283 |
| Total Monthly Debt Service | $1,631 |
| DSCR Ratio | 0.79x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in N/A
10,454 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
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
Single Family
Built in N/A
10,454 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tramaine Booker • ChuckTown Homes PB KW
Mls Name: Greater Greenville AOR
Mls Provider:
Mls ID: #1564406
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.