87 Redbay RdElginSC29045
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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
Rental property for sale in Elgin at 87 Redbay Rd, Elgin, SC, 29045 generates $4,234/mo in rent, after a $6,113/mo payment. Total monthly income is $4,234/mo. Return on cash invested sits at 10.6% in year one, and rental yield is 4.07% on a $1,249,000 entry. Equity gained on principal adds $8,060/yr, while 5% annual appreciation builds toward $345,076 over five years. Five-year ROI reaches 52.6% and total cumulative return in cash sums $212,855. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,234/mo property income rather than buyer’s personal income.
Single Family
Built in 2005
0.94 Acres lot
$N/A/sqft
$1,131 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29045, Elgin, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,039 (100%) |
| Owner Occupied HU | 9,414 (78.2%) |
| Renter Occupied HU | 1,752 (14.6%) |
| Vacant Housing Units | 873 ( 7.3%) |
| Median Home Value | $279,894 |
| Average Home Value | $321,774 |
Housing Distribution
Address Breakdown
Residential
13,024
Single Family
12,229
Multi-Family
795
Businesses
415
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Listed by: Sarah Bennett • Better Homes and Gardens Real Est Medley
Mls Name: Consolidated MLS
Mls Provider:
Mls ID: #604462
Disclaimer: IDX listing data provided courtesy of Consolidated MLS - Columbia, SC