1 year on rocket

305 Ferrari, Spartanburg, SC, 29378

$199,000

Home List Price

$2,363*

Closing Credit

0 Baths
3,136 SqFt
$63/SqFt
House

Location

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305 Ferrari, Spartanburg$199,000

Buyer Closing Credits

$2,363*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingTwo Spaces
Garage2 spaces
HeatingElectric, Baseboard, Heat Pump
CoolingCentral Air, Zoned
MLS #301290
Lot Size0.39 Acres
StatusActive

About 305 Ferrari

RE-LISTED DUE TO NO FAULT OF THE SELLER! Welcome to an exceptional investment opportunity located just 10 minutes from downtown Spartanburg, SC. This meticulously maintained property spans 0.39 acres and features four manufactured homes, providing a fantastic chance for investors to capitalize on the thriving real estate market in the area. With two fully renovated homes already generating rental income and two additional homes primed for renovations, this property offers both immediate returns and future potential. Key Features: Location: Situated a mere 10 minutes from downtown Spartanburg, this property offers convenient access to urban amenities, including shopping, dining, entertainment, and employment opportunities. It is also 2 minutes from I-85 for an easy commute! Land: The expansive 0.39-acre plot is well-kept, featuring a brand-new driveway and lush greenery, creating a peaceful and inviting atmosphere for residents. Utilities: The property is connected to both water and power utilities, ensuring a comfortable living experience for tenants. Renovated Manufactured Homes: Two of the manufactured homes on the property have undergone extensive renovations, including new floors, electrical wiring, plumbing, kitchens, HVAC systems, roof coatings, appliances, lighting fixtures, water heaters, etc. These homes are currently rented for $750 per month each, generating immediate cash flow for investors. One is a 2 bed/2 bath and the other is a 2 bed/1 bath Potential for Value Appreciation: The two remaining manufactured homes have already been painted on the exterior, had their roofs coated, undergone demolition, and had some windows replaced. With further renovations, these homes can be transformed into lucrative rental units, expanding the revenue potential of the property. Both are currently set up to be 2 bed/1 bath. Investor-Friendly: This property is tailor-made for investors seeking to maximize their returns. With two homes already generating income, the potential for increased rental revenue from the remaining two homes, and the overall growth of the Spartanburg real estate market, this opportunity is primed for success. Don't miss out on this remarkable investment prospect that combines immediate cash flow with future value appreciation. Act now and seize the chance to add this strategically located property to your investment portfolio. Contact us today to schedule a viewing or for further information.

Property Details

Property Features

Property Information:

  • Stories: 1
  • Living Area: 3,136 SqFt

Listing Office:

  • Office Name: Gramling Real Estate Llc
  • Office Phone: (864) 381-8817
  • Listing Agent: Connor Leroy

Exterior Features

Parking Information:

  • Garage Space: 2 spaces
  • Parking: Two Spaces

Lot Features

Lot Information:

  • Lot Size: 0.39 Acres

Utilities

Utilities Information:

  • Heating: Electric, Baseboard, Heat Pump
  • Cooling: Central Air, Zoned

Other

Directions Information:

  • Directions: Turn off of New Cut Rd onto Newman Rd at the Valero and the property is on your left.

Price Information

Listing Price Info

Price Summary:

  • List Price: $199,000
  • Price Per SqFt: $63/SqFt
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Housing Market Comparison

See how this home compares to others in Spartanburg, SC.

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Spartanburg, SC

City

Med. Sold Price

$239.9K

Med. Price/SqFt

$150

Avg. Days On Market

45

# of Sold Homes

116

305 Ferrari vs Spartanburg

527 DAYS ON ROCKET

+482 Days

$199,000

-$40.9K Less

$63/SqFt

-$87 Less

KEY TAKEAWAY

This property is $40.9K less than the Median Sold Price and $87/SqFt less than other homes in Spartanburg, SC.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #301290

Listing Office:

  • Office Name: Gramling Real Estate Llc
  • Office Phone: (864) 381-8817
  • Listing Agent: Connor Leroy

© 2024 Spartanburg Association of REALTORS® Multiple Listing Service. All Rights Reserved.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Spartanburg Association of REALTORS®. IDX information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable, but not guaranteed.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/23/2024, 10:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$1,061

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$663

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-859832
5
/10

  • Arcadia Elementary School

  • 375 Spring St

  • 0.98 miles

  • Public District Grades PK-5

school-card-donut-859833
3
/10

  • Lone Oak Elementary School

  • 7314 Lone Oak Rd

  • 1.14 miles

  • Public District Grades KG-5

school-card-donut-859834
3
/10

  • Jesse S. Bobo Elementary School

  • 495 Powell Mill Rd

  • 1.77 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $23,370. Most Spartanburg, SC residents have annual incomes less than $35k. The majority of families are single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Living In Spartanburg, SC

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Spartanburg, SC?

Spartanburg's housing market offers a diverse array of options, with single-family homes being a significant presence. Architectural styles range from charming historic bungalows to contemporary new constructions. The market is balanced with a mix of older homes that reflect the city's rich history and newer developments that cater to modern living preferences. The homeownership rate in Spartanburg is robust, reflecting a community invested in long-term residency and neighborhood stability.

Is Spartanburg, SC a good place to live?

Spartanburg prides itself on a vibrant community spirit, with a rich blend of historical significance and modern innovation. The city is celebrated for its cultural events, including music festivals and art exhibitions that showcase local talent and foster community engagement. The downtown area, with its blend of historic and modern buildings, serves as a hub for these communal activities, contributing to the city's unique character.

Are things conveniently located in Spartanburg, SC?

The community benefits from a solid educational system, with a variety of public and private schools that cater to different educational needs and preferences. Healthcare services in Spartanburg are comprehensive, with several hospitals and clinics providing a range of medical care, from routine check-ups to specialized treatments. The city also features a network of public libraries and a selection of retail and dining options that reflect the local culture. City initiatives are in place to continually enhance these services, adapting to the evolving needs of the population.

What does the transportation in Spartanburg, SC look like?

Spartanburg's transportation infrastructure supports both private and public transit options, with a focus on accessibility and convenience. The city's layout and road network facilitate easy commuting by car, while public transportation services provide connectivity across different neighborhoods. The area's walkability varies, with the downtown core being particularly pedestrian-friendly. Efforts are underway to improve transport efficiency, including enhancements to roadways and public transit systems to better serve the community's needs.

Frequently Asked Questions About 305 Ferrari

What is the listing price of this property?

The listing price of 305 Ferrari property is $199,000.

What type of property is this?

The property 305 Ferrari is a house located in Spartanburg, South Carolina, 29378.

Is this property for sale now?

Active Listing: 305 Ferrari is For Sale (Active/New) which means the seller is accepting offers.

What is the square footage of this property?

The property 305 Ferrari is 3,136 SqFt (source: MLS/tax record).

Rocket Homes›South Carolina›Spartanburg County›Spartanburg›29378›305 Ferrari

This home is located at 305 Ferrari in Spartanburg, SC and zip code 29378. This 3,136 square foot home sits on a 0.39 acre lot. It has been listed on Rocket Homes since June 14, 2023 and is currently priced at $199,000.

Spartanburg, SC housing market in October 2024 saw over 17 listings sold above listed price, more than 30 sold at listed price and over 59 sold below. The number of listings in Spartanburg, SC increased by 7.5% between September 2024 and October 2024. Listings spent 45 days on the market in October 2024, and had a median list price of $239,968 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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