1501 Ocean Blvd. S #242Myrtle 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 1501 Ocean Blvd. S #242, Myrtle Beach, SC, 29577 listed at $113,000 pairs $1,600/mo rent with a $553/mo payment. Total monthly income runs $1,600/mo. Return on cash invested measures 14.46% in year one, and rental yield registers 16.99% at a $113,000 basis. Equity gained on principal adds $729/yr, and annual property appreciation at 5% supports $31,220 by year five. Five-year ROI tracks 86.06% and total cumulative return in cash totals $32,237. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,600/mo property income relative to a $553/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1996
N/A lot
$N/A/sqft
$1,023 monthly 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: Jake Lee • Keller Williams Innovate South
Mls Name: CCAR
Mls Provider:
Mls ID: #2514141
Disclaimer: Provided courtesy of the Coastal Carolinas MLS. Copyright 2025 of the Coastal Carolinas MLS. All rights reserved. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Coastal Carolinas MLS.