1605 S Ocean Blvd. S #505Myrtle 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 1605 S Ocean Blvd. S #505, Myrtle Beach, SC, 29577 uses $35,802 cash to close to unlock $2,480/yr annual cash flow and $207/mo monthly cash flow. Total monthly income runs $850/mo, and a $529/mo payment keeps the spread at $207/mo. Purchase price stands at $108,000, and rental yield measures 9.44% with $850/mo rent. Return on cash invested shows 26.84% in year one, and 5% annual appreciation builds toward $29,838 over five years. Five-year ROI reaches 139.72% and total cumulative return in cash records $50,024. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $850/mo property income covering a $529/mo payment rather than investor’s personal income.
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
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Listed by: Isaac Larrowe • ERA Real Estate Modo
Mls Name: CCAR
Mls ID: #2601109