228 Palm Cove CircleMyrtle BeachSC29588
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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 Myrtle Beach at 228 Palm Cove Circle, Myrtle Beach, SC, 29588 offers a 9.44% rental yield on a $285,000 purchase with $2,242/mo rent. Total monthly income registers $2,242/mo, and a $1,395/mo payment leaves $545/mo available for distribution. Annual cash flow reaches $6,545/yr on $94,478 to close, and return on cash invested stands at 26.84% in year one. Equity gained on principal adds $1,839/yr while 5% annual appreciation supports $78,740 over five years. Portfolio math shows five-year ROI at 139.71% and total cumulative return in cash at $131,994. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,242/mo property income against a $1,395/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2015
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29588, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,273 (100%) |
| Owner Occupied HU | 17,595 (67.0%) |
| Renter Occupied HU | 5,626 (21.4%) |
| Vacant Housing Units | 3,052 (11.6%) |
| Median Home Value | $312,579 |
| Average Home Value | $340,906 |
Housing Distribution
Address Breakdown
Residential
24,236
Single Family
20,622
Multi-Family
3,614
Businesses
1,149
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Listed by: Dana N Wilson • Keller Williams Innovate South
Mls Name: CCAR
Mls ID: #2529304