200 Castle Dr. #1366Myrtle BeachSC29579
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 200 Castle Dr. #1366, Myrtle Beach, SC, 29579 in Myrtle Beach hard to pass up. The 11.8% gross yield on a $185,000 purchase results in $1,819/mo in rent and $718/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.19). Annual cash flow of $8,615, five-year appreciation of $51,112, and $1,704/yr in equity build-up combine for a projected total cumulative return of $116,189.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.8% | 4.2% |
| Monthly Cash Flow | $718 | $850 |
City averages based on Myrtle Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,819 |
| Total Monthly Debt Service | $1,028 |
| DSCR Ratio | 1.77x |
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 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29579, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,319 (100%) |
| Owner Occupied HU | 17,677 (60.3%) |
| Renter Occupied HU | 7,507 (25.6%) |
| Vacant Housing Units | 4,135 (14.1%) |
| Median Home Value | $370,725 |
| Average Home Value | $418,546 |
Housing Distribution
Address Breakdown
Residential
29,078
Single Family
23,909
Multi-Family
5,169
Businesses
1,094
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 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29579, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,319 (100%) |
| Owner Occupied HU | 17,677 (60.3%) |
| Renter Occupied HU | 7,507 (25.6%) |
| Vacant Housing Units | 4,135 (14.1%) |
| Median Home Value | $370,725 |
| Average Home Value | $418,546 |
Housing Distribution
Address Breakdown
Residential
29,078
Single Family
23,909
Multi-Family
5,169
Businesses
1,094
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Brandi Minchillo Team • RE/MAX Executive
Mls Name: CCAR
Mls ID: #2516803