188 Midland Pkwy APT 507SummervilleSC29485
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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 Summerville at 188 Midland Pkwy APT 507, Summerville, SC, 29485 uses $76,245 cash to close to unlock $5,928/yr annual cash flow and $494/mo monthly cash flow. Total monthly income runs $1,864/mo, and a $1,126/mo payment keeps the spread at $494/mo. Purchase price stands at $230,000, and rental yield measures 9.73% with $1,864/mo rent. Return on cash invested shows 27.68% in year one, and 5% annual appreciation builds toward $63,545 over five years. Five-year ROI reaches 144.3% and total cumulative return in cash records $110,023. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,864/mo property income covering a $1,126/mo payment rather than investor’s personal income.
Condo
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29485, Summerville, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,770 (100%) |
| Owner Occupied HU | 18,311 (71.1%) |
| Renter Occupied HU | 6,119 (23.7%) |
| Vacant Housing Units | 1,340 ( 5.2%) |
| Median Home Value | $347,407 |
| Average Home Value | $367,799 |
Housing Distribution
Address Breakdown
Residential
25,243
Single Family
22,192
Multi-Family
3,051
Businesses
1,103
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Listed by: N/A • AgentOwned Realty
Mls Name: CTMLS
Mls Provider:
Mls ID: #25011018
Disclaimer: 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. Copyright Charleston Trident Multiple Listing Service, Inc. All rights reserved. Information is deemed reliable but not guaranteed.