507 S Ocean Blvd. #201North Myrtle BeachSC29582
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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 North Myrtle Beach at 507 S Ocean Blvd. #201, North Myrtle Beach, SC, 29582 uses $238,525 cash to close to unlock $24,261/yr annual cash flow and $2,022/mo monthly cash flow. Total monthly income runs $6,338/mo, and a $3,549/mo payment keeps the spread at $2,022/mo. Purchase price stands at $725,000, and rental yield measures 10.49% with $6,338/mo rent. Return on cash invested shows 30.23% in year one, and 5% annual appreciation builds toward $200,304 over five years. Five-year ROI reaches 157.85% and total cumulative return in cash records $376,505. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $6,338/mo property income covering a $3,549/mo payment rather than investor’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
No 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
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Listed by: Mike Green • Coastal Vision Properties LLC
Mls Name: CCAR
Mls ID: #2521212