2384 Covington Dr.Myrtle BeachSC29579
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
Investment Highlights
Investment property for sale in Myrtle Beach at 2384 Covington Dr, Myrtle Beach, SC, 29579 listed at $407,900 pairs $2,902/mo rent with a $1,996/mo payment to leave $474/mo cash flow. Total monthly income runs $2,902/mo, and annual cash flow reaches $5,692/yr on $135,219 cash to close. Return on cash invested measures 24.12% in year one, and rental yield registers 8.54% at a $407,900 basis. Equity gained on principal adds $2,632/yr, and annual property appreciation at 5% supports $112,695 by year five. Five-year ROI tracks 125.12% and total cumulative return in cash totals $169,188. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,902/mo property income relative to a $1,996/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2003
10,018 sqft 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: Dusty Giamanco • CB Sea Coast Advantage CF
Mls Name: CCAR
Mls ID: #2514052