204 Michigan Ave #11Folly BeachSC29439
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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 Folly Beach at 204 Michigan Ave #11, Folly Beach, SC, 29439 offers a 7.1% rental yield on a $881,800 purchase with $5,219/mo rent. 94% in year one. Equity gained on principal adds $5,690/yr while 5% annual appreciation supports $243,625 over five years. Portfolio math shows five-year ROI at 102.63% and total cumulative return in cash at $297,753. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,219/mo property income against a $4,316/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29439, Folly Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,047 (100%) |
| Owner Occupied HU | 711 (34.7%) |
| Renter Occupied HU | 183 ( 8.9%) |
| Vacant Housing Units | 1,153 (56.3%) |
| Median Home Value | $979,610 |
| Average Home Value | $1,086,269 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
78
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Nearby investment properties with comparable prices
Listed by: N/A • N/A
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Mls ID: #N/A