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7123 Burnett Street Spartanburg, SC 29303

3 Beds 2 Baths - sqft Built 1950

$167,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $106.91
  • 2 Days on Market
  • MLS # : 1433888
  • Updated Date : 12/19/2020 at 01:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Ponce Realty Group, Llc

Listing Agent's Description

This is a super cute Traditional Bungalow home that has received a beautiful upgrade and ready for you to move in and enjoy! This home has a brand new roof. New floors all through the home including brand new carpets in each bedroom. A glass storm door has been added for your viewing pleasures while you sit in the large living room with the gorgeous granite fireplace. The impressively large master bedroom sits on the back end of the home allowing privacy from the other two bedrooms and a very cozy master bathroom with a large garden tub to relax in. As you walk through the home, you are able to enjoy a large den with a separate kitchen area that leads you to the spacious laundry room and onto the backyard where you will have plenty of space to enjoy. There is also a closed-in patio in the backyard for entertainment or a workshop area. Call and schedule your appointment for a safe showing today!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29303

ZipNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130kPrice in $47k139k

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

Zip Code: 29303

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
Dorman High Freshman Campus High Regular 863 53 5
Dorman High School High Regular 2,381 126 3

Dorman High Freshman Campus

  • Education Level: High
  • # of students: 863
  • # of teachers: 53
5
GreatSchools Rating

Dorman High School

  • Education Level: High
  • # of students: 2,381
  • # of teachers: 126
3
GreatSchools Rating
 

$150,300$183,700$167,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$616
Property Tax -$367
Property Insurance -$56
Property Management Fees -$104
CASH FLOW
$157

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.

$167,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 4.2%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,005

INVESTMENT

$50,005

Down Payment
$41,750
Rehab Estimate
$5,750
Closing Costs
$2,505

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$616

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,750
Loan Amount $125,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$19,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,578

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,400
$1,400
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 7123 Burnett Street Spartanburg, SC 1
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 329 Stonewood Crossing Drive Boiling Springs, SC 2
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 3 beds 2 baths ∙ 1,388 Sqft ∙ Built
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
PROPERTY LISTING DETAILS
Christina Monroy
1.864.804.8748
Ponce Realty Group, Llc
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1433888
Last Updated: 12/19/2020
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