404 Melrose Pl. #21-AMyrtle BeachSC29572
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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 404 Melrose Pl. #21-A, Myrtle Beach, SC, 29572 offers a 11.01% rental yield on a $250,000 purchase with $2,293/mo rent. Total monthly income registers $2,293/mo, and a $1,224/mo payment leaves $804/mo available for distribution. Annual cash flow reaches $9,653/yr on $82,875 to close, and return on cash invested stands at 31.56% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,070 over five years. Portfolio math shows five-year ROI at 165.01% and total cumulative return in cash at $136,750. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,293/mo property income against a $1,224/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29572, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,424 (100%) |
| Owner Occupied HU | 4,434 (33.0%) |
| Renter Occupied HU | 2,349 (17.5%) |
| Vacant Housing Units | 6,641 (49.5%) |
| Median Home Value | $484,365 |
| Average Home Value | $523,517 |
Housing Distribution
Address Breakdown
Residential
8,575
Single Family
6,082
Multi-Family
2,493
Businesses
982
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Listed by: Benjamin Hay • Leonard Call - Kingston
Mls Name: CCAR
Mls ID: #2524053