1890 Colony Dr. #16 ISurfside BeachSC29575
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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 Surfside Beach at 1890 Colony Dr. #16 I, Surfside Beach, SC, 29575 offers a 9.47% rental yield on a $199,000 purchase with $1,571/mo rent. Total monthly income registers $1,571/mo, and a $974/mo payment leaves $386/mo available for distribution. Annual cash flow reaches $4,637/yr on $65,969 to close, and return on cash invested stands at 26.94% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 140.28% and total cumulative return in cash at $92,538. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,571/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29575, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,239 (100%) |
| Owner Occupied HU | 7,983 (49.2%) |
| Renter Occupied HU | 2,316 (14.3%) |
| Vacant Housing Units | 5,940 (36.6%) |
| Median Home Value | $357,758 |
| Average Home Value | $393,262 |
Housing Distribution
Address Breakdown
Residential
12,623
Single Family
9,908
Multi-Family
2,715
Businesses
702
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Listed by: Kristi N Amendola • Red Door Realty
Mls Name: CCAR
Mls ID: #2600376