440 Red River Ct. #41GMyrtle BeachSC29579
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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
Rental property for sale in Myrtle Beach at 440 Red River Ct. #41G, Myrtle Beach, SC, 29579 generates $1,655/mo in rent and, after a $881/mo payment, leaves $584/mo in cash flow. Total monthly income is $1,655/mo, and annual cash flow is $7,003/yr on $59,637 invested. Return on cash invested sits at 31.65% in year one, and rental yield is 11.04% on a $179,900 entry. Equity gained on principal adds $1,161/yr, while 5% annual appreciation builds toward $49,703 over five years. Five-year ROI reaches 165.54% and total cumulative return in cash sums $98,721. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,655/mo property income rather than buyer’s personal income.
Condo
Built in 1996
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29579, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,319 (100%) |
| Owner Occupied HU | 17,677 (60.3%) |
| Renter Occupied HU | 7,507 (25.6%) |
| Vacant Housing Units | 4,135 (14.1%) |
| Median Home Value | $370,725 |
| Average Home Value | $418,546 |
Housing Distribution
Address Breakdown
Residential
29,078
Single Family
23,909
Multi-Family
5,169
Businesses
1,094
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Listed by: Jeff Casterline Team • INNOVATE Real Estate
Mls Name: CCAR
Mls ID: #2519649