1206 Erin Way #CMyrtle BeachSC29577
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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 1206 Erin Way #C, Myrtle Beach, SC, 29577 uses $49,692 cash to close to unlock $3,316/yr annual cash flow and $276/mo monthly cash flow. Total monthly income runs $1,169/mo, and a $734/mo payment keeps the spread at $276/mo. Purchase price stands at $149,900, and rental yield measures 9.36% with $1,169/mo rent. Return on cash invested shows 26.58% in year one, and 5% annual appreciation builds toward $41,415 over five years. Five-year ROI reaches 138.37% and total cumulative return in cash records $68,759. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,169/mo property income covering a $734/mo payment rather than investor’s personal income.
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29577, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,187 (100%) |
| Owner Occupied HU | 10,767 (44.5%) |
| Renter Occupied HU | 7,443 (30.8%) |
| Vacant Housing Units | 5,977 (24.7%) |
| Median Home Value | $386,984 |
| Average Home Value | $425,164 |
Housing Distribution
Address Breakdown
Residential
20,975
Single Family
16,599
Multi-Family
4,376
Businesses
2,968
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Listed by: Nathan F Cook • Latitude Realty
Mls Name: CCAR
Mls ID: #2526510