1201 Formby CtMyrtle BeachSC29588
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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
Investment property for sale in Myrtle Beach at 1201 Formby Ct, Myrtle Beach, SC, 29588 uses $82,875 cash to close to unlock $4,277/yr annual cash flow and $356/mo monthly cash flow. Total monthly income runs $1,910/mo, and a $1,224/mo payment keeps the spread at $356/mo. Purchase price stands at $250,000, and rental yield measures 9.17% with $1,910/mo rent. Return on cash invested shows 25.07% in year one, and 5% annual appreciation builds toward $69,070 over five years. Five-year ROI reaches 130.59% and total cumulative return in cash records $108,226. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,910/mo property income covering a $1,224/mo payment rather than investor’s personal income.
Single Family
Built in 1993
N/A lot
$N/A/sqft
$65 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29588, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,273 (100%) |
| Owner Occupied HU | 17,595 (67.0%) |
| Renter Occupied HU | 5,626 (21.4%) |
| Vacant Housing Units | 3,052 (11.6%) |
| Median Home Value | $312,579 |
| Average Home Value | $340,906 |
Housing Distribution
Address Breakdown
Residential
24,236
Single Family
20,622
Multi-Family
3,614
Businesses
1,149
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Listed by: Kendra Conyers • Kendra Conyers & Associates
Mls Name: Pee Dee Realtor Association
Mls Provider:
Mls ID: #20243817
Disclaimer: IDX information is provided exclusively for 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.