487 Tall Ship Dr UNIT 121SalemSC29676
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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 Salem at 487 Tall Ship Dr UNIT 121, Salem, SC, 29676 offers a 7.85% rental yield on a $364,900 purchase with $2,388/mo rent. Total monthly income registers $2,388/mo, and a $1,786/mo payment leaves $216/mo available for distribution. Annual cash flow reaches $2,590/yr on $120,964 to close, and return on cash invested stands at 22.05% in year one. Equity gained on principal adds $2,355/yr while 5% annual appreciation supports $100,815 over five years. Portfolio math shows five-year ROI at 114.01% and total cumulative return in cash at $137,916. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,388/mo property income against a $1,786/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29676, Salem, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,155 (100%) |
| Owner Occupied HU | 2,842 (68.4%) |
| Renter Occupied HU | 239 ( 5.8%) |
| Vacant Housing Units | 1,074 (25.8%) |
| Median Home Value | $648,244 |
| Average Home Value | $726,379 |
Housing Distribution
Address Breakdown
Residential
3,440
Single Family
3,252
Multi-Family
188
Businesses
121
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Listed by: Jim Smith • Keller Williams Luxury Lake Living
Mls Name: WUMLS
Mls ID: #20295114