495 Tall Ship Dr UNIT 240SalemSC29676
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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 495 Tall Ship Dr UNIT 240, Salem, SC, 29676 uses $130,835 cash to close to unlock $7,024/yr annual cash flow and $585/mo monthly cash flow. Total monthly income runs $2,935/mo, and a $1,932/mo payment keeps the spread at $585/mo. Purchase price stands at $394,676, and rental yield measures 8.92% with $2,935/mo rent. Return on cash invested shows 25.28% in year one, and 5% annual appreciation builds toward $109,042 over five years. Five-year ROI reaches 131.34% and total cumulative return in cash records $171,840. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,935/mo property income covering a $1,932/mo payment rather than investor’s personal income.
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: Diane Bostrom • Herlong Sotheby's Int'l Realty -Clemson
Mls Name: WUMLS
Mls ID: #20294741