The Spring
Single Family
3
2
1432
Sqft
2011
$248,000
Purchase Price
$1,695
Rent / Mo
0%
Property Leverage
How Are Monthly Dividends Determined for The Spring?
Properties start paying dividends once they start generating income and may vary month to month. The monthly dividend is determined by analyzing several factors, including rental status, the amount of cash in the property’s reserves, last quarter’s cash flow, projected expenses, and lease renewal timing. For more information on why dividends may be increased, decreased or paused, please see our detailed FAQ. The rental history and dividend payments for each property can be found on the performance tab.
About
The Spring is a beautiful 3 bedroom, 2 bathroom home in a great location. You can walk to the grocery store or restaurants, a quick drive to Walmart or Lowe's or I-85. The home is located less than 30 minutes to BMW and about 15 minutes from downtown Spartanburg. This home has great one level living in a friendly neighborhood with a pool and playground. The home is zoned for excellent schools. No drive through traffic in the neighborhood. You will love the fairy garden, the rocking chair front porch and stone accents the minute you pull up. Inside the great room has a trey ceiling, hardwood flooring and a cozy gas log fireplace. The home has an open floor plan with the well equipped kitchen featuring an eat in area, peninsula large enough for stools, stylish stainless appliances, plenty of cabinet and counter space and pendant lighting. The primary bedroom has a trey ceiling, full bath with tub/shower, and a walk in closet. The secondary bedrooms are a good size and share the hall full bath. The walk in laundry room has storage cabinets for extra supplies. Outside you will love spending time in the fenced back yard or relaxing on the covered side porch. Bring your grill and corn hole games and host barbecues this summer. Better hurry before this great home gets away!
Tenant Leasing Process
The time needed to sign the first tenant lease is variable and can depend on several factors including seasonality and whether the property requires any sort of renovation. Historically the average time to lease has been 45 days and has ranged from a minimum of 7 days to over 90 days. For more details on each status, check out the different rental statuses here.
Rented
Rental Status
This property is eligible to start receiving dividends after its first lease is signed.
The Market
Upstate South Carolina
Greenville and Spartanburg are the two largest cities in the combined statistical area for Greenville-Spartanburg-Anderson, otherwise known as Upstate South Carolina. Greenville lies roughly halfway between Atlanta and Charlotte. The local economy is diverse and growing. There's a significant presence by the automotive industry, highlighted by the BMW manufacturing plant in Greer. Michelin's North America headquarters are in Greenville, and the International Center for Automotive Research (ICAR) is a combined effort by several companies and Clemson University for continued R&D in the automotive field. Several financial services firms have regional offices in the area.
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100%
Funded
496
Investors
$288,470
Invested