3601 S Ocean Blvd. #7-ENorth Myrtle BeachSC29582
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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 North Myrtle Beach at 3601 S Ocean Blvd. #7-E, North Myrtle Beach, SC, 29582 offers a 7.8% rental yield on a $499,000 purchase with $3,244/mo rent. Total monthly income registers $3,244/mo, and a $2,442/mo payment leaves $274/mo available for distribution. Annual cash flow reaches $3,287/yr on $165,419 to close, and return on cash invested stands at 21.9% in year one. Equity gained on principal adds $3,220/yr while 5% annual appreciation supports $137,865 over five years. Portfolio math shows five-year ROI at 113.19% and total cumulative return in cash at $187,230. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,244/mo property income against a $2,442/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1995
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29582, North Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,971 (100%) |
| Owner Occupied HU | 8,741 (31.3%) |
| Renter Occupied HU | 2,173 ( 7.8%) |
| Vacant Housing Units | 17,057 (61.0%) |
| Median Home Value | $429,213 |
| Average Home Value | $486,164 |
Housing Distribution
Address Breakdown
Residential
14,598
Single Family
10,230
Multi-Family
4,368
Businesses
1,216
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Listed by: Brendon Payne Expert Advisors Team • Century 21 The Harrelson Group
Mls Name: CCAR
Mls ID: #2518505