3805 S Ocean Blvd. #1401Myrtle BeachSC29582
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 4.57% gross rental yield, 3805 S Ocean Blvd. #1401, Myrtle Beach, SC, 29582 in Myrtle Beach is priced for capital growth, not immediate cash flow. The $742,500 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $205,139 by year five, with $6,838/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.85) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $178,226.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.6% | 4.2% |
| Monthly Cash Flow | $(3,097) | $850 |
City averages based on Myrtle Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,826 |
| Total Monthly Debt Service | $4,125 |
| DSCR Ratio | 0.69x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2000
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
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
Condo
Built in 2000
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: CCAR
Mls ID: #2609396