1562 Palmina LoopMyrtle 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 1562 Palmina Loop, Myrtle Beach, SC, 29588 uses $92,157 cash to close to unlock $3,339/yr annual cash flow and $278/mo monthly cash flow. Total monthly income runs $2,236/mo, and a $1,361/mo payment keeps the spread at $278/mo. Purchase price stands at $278,000, and rental yield measures 9.65% with $2,236/mo rent. Return on cash invested shows 23.53% in year one, and 5% annual appreciation builds toward $76,806 over five years. Five-year ROI reaches 123.42% and total cumulative return in cash records $113,741. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,236/mo property income covering a $1,361/mo payment rather than investor’s personal income.
Condo
Built in 2015
N/A lot
$N/A/sqft
$3,630 annually 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: Rick R Kimbler • Weichert Realtors Southern-Coast
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100475631
Disclaimer: The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 2025-02-22 17:35:22 PST. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Zillow, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. 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. 2025-02-22 17:35:22 PST Hive MLS