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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $140.62
- 2 Days on Market
- MLS # : 1435821
- Updated Date : 01/23/2021 at 02:41
CONSTRUCTION
- Beds : 3
- Floor Size : '-'
- Baths : 1 full , 1 half
Listing Agent
Ponce Realty Group, Llc
Listing Agent's Description
Must see this home to appreciate all it has to offer! 3 bedrooms with 1 and half bath home with HUGE 20x25 ft building with fenced yard located in the desirable district 6 and walking distance to the elementary school, shopping, groceries, medical facilities and I-85 and I-26. You immediately notice all the NEW vinyl windows that have been installed to home and building (2016), refinished hardwoods, NEW interior and exterior doors, NEW ceiling fans, and completely gutted and updated bathroom (2020). Other items that have been updated is NEW plumbing/drain lines and NEW upgraded electrical, NEW hot water heater (2020), and NEW shutters! This home offers a large living room with scenic views out of the panoramic windows with hardwood floors that run through the living, hall, and all the bedrooms. There are two spacious bedrooms with closets and the master has a half bath. In the eat-in kitchen there is plenty of cabinetry and prep space. In the carport there is a NEW pull-down staircase for access to the attic and a storage closet for the laundry. The 20x25ft building is complete with electrical and offers endless possibilities. The building has a wall of build-in storage shelves, plenty of room for storage and sliding entry doors. Too many upgrades to mention.
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PRICE & RENT TRENDS
Zip Code: 29301
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 29301
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $960 |
| EXPENSES | Loan Payment | -$521 |
| Property Tax | -$269 | |
| Property Insurance | -$47 | |
| Property Management Fees | -$77 | |
|
CASH FLOW
$46
|
||
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.
$149,900
PROJECTED PRICE
$960
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.52% |
| Appreciation Year (1-5) | 3.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.90% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$45,474
LOAN DETAILS
$521
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $37,475 |
| Loan Amount | $112,425 |
4.58
YEARS SAVED
$7,296
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 -
$0.9
LIST RENT PER SQFT
-
$917
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
392 Ridgecrest Drive Spartanburg, SC 1
- 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $960
- $0.90
-
218 Singing Woods Lane Spartanburg, SC 2
- 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 3 beds 2 baths ∙ 1,344 Sqft ∙ Built
LEASED 06/30/20- Rent
- Rent Per SQFT
- $1,150
- $0.86
PROPERTY LISTING DETAILS
1.864.706.6974
Ponce Realty Group, Llc
1.866.250.5610
Homeunion SC LLC
21064
MLS #: 1435821
Last Updated: 01/23/2021
