114 Brookside Rd Spartanburg, SC 29301
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About this home
Looking for a property that truly pays for itself? Welcome to 114 Brookside Rd—a rare opportunity combining a spacious main home with multiple income-producing rentals, all just minutes from Spartanburg’s brand-new baseball stadium. Being sold as is, the main home is a ranch on a basement, offering 3 bedrooms, 3 full bathrooms, and several flexible living areas. The finished portion of the basement provides even more living space, with a bedroom, full bathroom, den, and rec room—perfect for guests, in-laws, or a private retreat. Upstairs, step out back to a huge deck with a covered section—ideal for an outdoor kitchen—plus a hot tub for year-round relaxation. The unfinished section of the basement is a dream for hobbyists or professionals, with a massive workshop and garage area including workbenches, storage, and a sink. Behind the main house are two additional small houses: A two-story building divided into two separate units, both currently rented. A single-story home that has been recently renovated, ready for its next tenant or short-term rental setup. With Spartanburg’s growing popularity and a shortage of hotel accommodations, these additional homes offer tremendous potential for long-term tenants or short-term rentals catering to visitors and baseball fans alike. Whether you’re searching for a home with extra space and flexibility, or an investment property with multiple streams of rental income, 114 Brookside Rd is an opportunity you don’t want to miss.
Source: GREENVILLESC #1567776
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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