4855 Carnation Circle #205Myrtle BeachSC29577
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
Investment Highlights
Investment property for sale in Myrtle Beach at 4855 Carnation Circle #205, Myrtle Beach, SC, 29577 uses $84,499 cash to close to unlock $5,691/yr annual cash flow and $474/mo monthly cash flow. Total monthly income runs $1,992/mo, and a $1,248/mo payment keeps the spread at $474/mo. Purchase price stands at $254,900, and rental yield measures 9.38% with $1,992/mo rent. Return on cash invested shows 26.64% in year one, and 5% annual appreciation builds toward $70,424 over five years. Five-year ROI reaches 138.7% and total cumulative return in cash records $117,204. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,992/mo property income covering a $1,248/mo payment rather than investor’s personal income.
Condo
Built in 1999
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Engler Group • INNOVATE Real Estate
Mls Name: CCAR
Mls ID: #2525078