1 Norris Dr. Norris Dr. #229Pawleys IslandSC29585
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Pawleys Island at 1 Norris Dr. Norris Dr. #229, Pawleys Island, SC, 29585 generates $1,336/mo in rent, after a $1,835/mo payment. Total monthly income is $1,336/mo. Return on cash invested sits at 11.26% in year one, and rental yield is 4.28% on a $375,000 entry. Equity gained on principal adds $2,420/yr, while 5% annual appreciation builds toward $103,606 over five years. Five-year ROI reaches 56.18% and total cumulative return in cash sums $69,843. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,336/mo property income rather than buyer’s personal income.
Condo
Built in 1982
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29585, Pawleys Island, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,166 (100%) |
| Owner Occupied HU | 7,094 (58.3%) |
| Renter Occupied HU | 1,077 ( 8.9%) |
| Vacant Housing Units | 3,995 (32.8%) |
| Median Home Value | $472,632 |
| Average Home Value | $558,954 |
Housing Distribution
Address Breakdown
Residential
9,880
Single Family
8,875
Multi-Family
1,005
Businesses
886
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Listed by: Rick Bruce III • The Litchfield Company Real Estate
Mls Name: CCAR
Mls ID: #2527554