838 Lookout DrSpartanburgSC29306
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow838 Lookout Dr, Spartanburg, SC, 29306 in Spartanburg earns its strong cash-flow label: 21.74% yield, $2,282/mo rent, $1,082/mo net income, DSCR 4.02. The $125,995 acquisition cost produces immediate returns that put this property in the top tier for U.S. income assets accessible via Ziffy Mortgage's rental-income underwriting. Long-term, 5% annual appreciation adds $34,810 by year five. Combined with $1,160/yr in principal paydown, total projected return reaches $119,229.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 21.7% | 6.8% |
| Monthly Cash Flow | $1,082 | $325 |
City averages based on Spartanburg market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,282 |
| Total Monthly Debt Service | $1,150 |
| DSCR Ratio | 1.98x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 2024
N/A lot
$N/A/sqft
$450 monthly 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 2024
N/A lot
$N/A/sqft
$450 monthly 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