2401 S Ocean Blvd. #1055Myrtle BeachSC29577
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 2401 S Ocean Blvd. #1055, Myrtle Beach, SC, 29577 uses $74,588 cash to close to unlock $2,591/yr annual cash flow and $216/mo monthly cash flow. Total monthly income runs $1,555/mo, and a $1,101/mo payment keeps the spread at $216/mo. Purchase price stands at $225,000, and rental yield measures 8.29% with $1,555/mo rent. Return on cash invested shows 23.38% in year one, and 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 121.14% and total cumulative return in cash records $90,357. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,555/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29577, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,187 (100%) |
| Owner Occupied HU | 10,767 (44.5%) |
| Renter Occupied HU | 7,443 (30.8%) |
| Vacant Housing Units | 5,977 (24.7%) |
| Median Home Value | $386,984 |
| Average Home Value | $425,164 |
Housing Distribution
Address Breakdown
Residential
20,975
Single Family
16,599
Multi-Family
4,376
Businesses
2,968
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Rachel E Schel • Realty ONE Group Dockside
Mls Name: CCAR
Mls ID: #2526950