1605 S Ocean Blvd. #1213Myrtle BeachSC29577
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1605 S Ocean Blvd. #1213, Myrtle Beach, SC, 29577 in Myrtle Beach hard to pass up. The 10.69% gross yield on a $235,000 purchase results in $2,094/mo in rent and $695/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (1.98). Annual cash flow of $8,341, five-year appreciation of $64,926, and $2,164/yr in equity build-up combine for a projected total cumulative return of $133,616.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.7% | 4.2% |
| Monthly Cash Flow | $695 | $850 |
City averages based on Myrtle Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,094 |
| Total Monthly Debt Service | $1,305 |
| DSCR Ratio | 1.60x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Marvin George G Miles • Ocean Front Guru Real Estate
Mls Name: CCAR
Mls ID: #2519614