1538 Covewind Circle Lot 28, North Myrtle Beach, SC, 29582 | $253/mo Cash Flow

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in North Myrtle Beach at 1538 Covewind Circle Lot 28, North Myrtle Beach, SC, 29582 offers a 8.07% rental yield on a $327,350 purchase with $2,201/mo rent. Total monthly income registers $2,201/mo, and a $1,602/mo payment leaves $253/mo available for distribution. Annual cash flow reaches $3,031/yr on $108,517 to close, and return on cash invested stands at 22.7% in year one. Equity gained on principal adds $2,112/yr while 5% annual appreciation supports $90,441 over five years. Portfolio math shows five-year ROI at 117.52% and total cumulative return in cash at $127,531. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,201/mo property income against a $1,602/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 2025

3,484 sqft lot

$N/A/sqft

No HOA

Neighborhood Data

Neighborhood data shown for ZIP Code: 29582, North Myrtle Beach, SC area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	27,971 (100%)
Owner Occupied HU	8,741 (31.3%)
Renter Occupied HU	2,173 ( 7.8%)
Vacant Housing Units	17,057 (61.0%)
Median Home Value	$429,213
Average Home Value	$486,164