Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

173 Lincoln Drive Spartanburg, SC 29306

3 Beds 1 Baths - sqft Built 1972

$134,900

List Price

$960

$864 - $1.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $134.90
  • 21 Days on Market
  • MLS # : 1433962
  • Updated Date : 12/22/2020 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 1 full
Listing Agent

Bhhs C Dan Joyner - N. Pleas

Listing Agent's Description

Fully renovated 3BR/1BA brick ranch in Spartanburg. Updates include granite countertops, stainless steel appliances, new carpet, laminate floors and fresh paint.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29306

ZipNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130kPrice in $47k139k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 29306

ZipNIR Market*CityMarket2010Year20002019 Q25005506006507007508008509009501000105011001150Rent in $4791153

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Spartanburg High School High Regular 1,287 114 4

Spartanburg High School

  • Education Level: High
  • # of students: 1,287
  • # of teachers: 114
4
GreatSchools Rating
 

$121,410$148,390$134,900

PURCHASE PRICE

$864$1,056$960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $960
EXPENSES Loan Payment -$469
Property Tax -$349
Property Insurance -$46
Property Management Fees -$77
CASH FLOW
$20

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$134,900

PROJECTED PRICE

$960

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,499

INVESTMENT

$41,499

Down Payment
$33,725
Rehab Estimate
$5,750
Closing Costs
$2,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$469

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $33,725
Loan Amount $101,175
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$3,634

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $960

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $890

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9603$1,150
$1,150
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 173 Lincoln Drive Spartanburg, SC 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $960
    • $0.96
    •  
  • 404 Shaw Avenue Spartanburg, SC 1
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 3 beds 2 baths ∙ 1,050 Sqft ∙ Built
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.81
    •  
  • 310 Brown Avenue Spartanburg, SC 3
    • 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 3 beds 2 baths ∙ 1,184 Sqft ∙ Built
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alex Crigler
1.864.616.3988
Bhhs C Dan Joyner - N. Pleas
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1433962
Last Updated: 12/22/2020
BESbswy