224 Castle Dr. #1408Myrtle BeachSC29579
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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
Rental property for sale in Myrtle Beach at 224 Castle Dr. #1408, Myrtle Beach, SC, 29579 generates $1,948/mo in rent and, after a $959/mo payment, leaves $782/mo in cash flow. Total monthly income is $1,948/mo, and annual cash flow is $9,379/yr on $64,974 invested. Return on cash invested sits at 34.34% in year one, and rental yield is 11.93% on a $196,000 entry. Equity gained on principal adds $1,265/yr, while 5% annual appreciation builds toward $54,151 over five years. Five-year ROI reaches 179.96% and total cumulative return in cash sums $116,928. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,948/mo property income rather than buyer’s personal income.
Condo
Built in 2008
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
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Listed by: Alissa Lightman • The Lightman Group
Mls Name: CCAR
Mls ID: #2510869