724 Palmetto StSpartanburgSC29302
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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
Total monthly income runs $2,260/mo, and a $2,398/mo payment. Purchase price stands at $489,900, and rental yield measures 5.54% with $2,260/mo rent. Return on cash invested shows 15.06% in year one, and 5% annual appreciation builds toward $135,350 over five years. Five-year ROI reaches 76.52% and total cumulative return in cash records $124,277. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,260/mo property income covering a $2,398/mo payment rather than investor’s personal income.
Single Family
Built in 1942
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29302, Spartanburg, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,226 (100%) |
| Owner Occupied HU | 5,544 (67.4%) |
| Renter Occupied HU | 2,067 (25.1%) |
| Vacant Housing Units | 615 ( 7.5%) |
| Median Home Value | $288,433 |
| Average Home Value | $345,926 |
Housing Distribution
Address Breakdown
Residential
8,115
Single Family
7,309
Multi-Family
806
Businesses
716
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Listed by: Lisa Mullinax • Bowers & Associates
Mls Name: SAR
Mls ID: #331791