400 20th Ave. N #706Myrtle BeachSC29577
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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 400 20th Ave. N #706, Myrtle Beach, SC, 29577 offers a 8.96% rental yield on a $255,000 purchase with $1,903/mo rent. Total monthly income registers $1,903/mo, and a $1,248/mo payment leaves $385/mo available for distribution. Annual cash flow reaches $4,622/yr on $84,533 to close, and return on cash invested stands at 25.38% in year one. Equity gained on principal adds $1,645/yr while 5% annual appreciation supports $70,452 over five years. Portfolio math shows five-year ROI at 131.92% and total cumulative return in cash at $111,512. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,903/mo property income against a $1,248/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1979
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
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Listed by: The TJ O'Brien Team • RE/MAX Southern Shores
Mls Name: CCAR
Mls ID: #2521029