501 S Ocean Blvd. UNIT 708North Myrtle BeachSC29582
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 North Myrtle Beach at 501 S Ocean Blvd. UNIT 708, North Myrtle Beach, SC, 29582 uses $62,819 cash to close to unlock $893/yr annual cash flow and $74/mo monthly cash flow. Total monthly income runs $1,615/mo, and a $928/mo payment keeps the spread at $74/mo. Purchase price stands at $189,500, and rental yield measures 10.23% with $1,615/mo rent. Return on cash invested shows 21.33% in year one, and 5% annual appreciation builds toward $52,355 over five years. Five-year ROI reaches 113.07% and total cumulative return in cash records $71,027. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,615/mo property income covering a $928/mo payment rather than investor’s personal income.
Condo
Built in 1999
N/A lot
$N/A/sqft
$412 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29582, North Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,971 (100%) |
| Owner Occupied HU | 8,741 (31.3%) |
| Renter Occupied HU | 2,173 ( 7.8%) |
| Vacant Housing Units | 17,057 (61.0%) |
| Median Home Value | $429,213 |
| Average Home Value | $486,164 |
Housing Distribution
Address Breakdown
Residential
14,598
Single Family
10,230
Multi-Family
4,368
Businesses
1,216
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Ashlynne Ward • BeachConnection Realty
Mls Name: CCAR
Mls Provider:
Mls ID: #2500996
Disclaimer: Provided courtesy of the Coastal Carolinas MLS. Copyright 2025 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.