1522 Lanterns Rest Rd. #201Myrtle BeachSC29579
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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 1522 Lanterns Rest Rd. #201, Myrtle Beach, SC, 29579 offers a 8.81% rental yield on a $310,000 purchase with $2,275/mo rent. Total monthly income registers $2,275/mo, and a $1,517/mo payment leaves $430/mo available for distribution. Annual cash flow reaches $5,159/yr on $102,765 to close, and return on cash invested stands at 24.93% in year one. Equity gained on principal adds $2,000/yr while 5% annual appreciation supports $85,647 over five years. Portfolio math shows five-year ROI at 129.45% and total cumulative return in cash at $133,027. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,275/mo property income against a $1,517/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29579, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,319 (100%) |
| Owner Occupied HU | 17,677 (60.3%) |
| Renter Occupied HU | 7,507 (25.6%) |
| Vacant Housing Units | 4,135 (14.1%) |
| Median Home Value | $370,725 |
| Average Home Value | $418,546 |
Housing Distribution
Address Breakdown
Residential
29,078
Single Family
23,909
Multi-Family
5,169
Businesses
1,094
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Listed by: Joyce Visconti • Resourceful Realty
Mls Name: CCAR
Mls ID: #2600635