498 River Oaks Dr. UNIT 59-NMyrtle BeachSC29579
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 498 River Oaks Dr. UNIT 59-N, Myrtle Beach, SC, 29579 uses $56,985 cash to close to unlock $2,343/yr annual cash flow and $195/mo monthly cash flow. Total monthly income runs $1,763/mo, and a $841/mo payment keeps the spread at $195/mo. Purchase price stands at $171,900, and rental yield measures 12.31% with $1,763/mo rent. Return on cash invested shows 24.02% in year one, and 5% annual appreciation builds toward $47,493 over five years. Five-year ROI reaches 128.82% and total cumulative return in cash records $73,410. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,763/mo property income covering a $841/mo payment rather than investor’s personal income.
Condo
Built in 1998
N/A lot
$N/A/sqft
$455 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Greg Sisson Team • The Ocean Forest Company
Mls Name: CCAR
Mls Provider:
Mls ID: #2421093
Disclaimer: Provided courtesy of the Coastal Carolinas MLS. Copyright 2024 of the Coastal Carolinas MLS. All rights reserved. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Coastal Carolinas MLS.