616 S Converse StSpartanburgSC29306
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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 616 S Converse St, Spartanburg, SC, 29306 offers a 6.07% rental yield on a $348,000 purchase with $1,761/mo rent. 68% in year one. Equity gained on principal adds $2,246/yr while 5% annual appreciation supports $96,146 over five years. Portfolio math shows five-year ROI at 85.22% and total cumulative return in cash at $98,314. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,761/mo property income against a $1,703/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1921
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
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Listed by: Titus Graham • Lifestyles Realty South Carolina Inc
Mls Name: Consolidated MLS
Mls ID: #611460