510 Fairwood Lakes Dr. #17-PMyrtle BeachSC29588
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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
Rental property for sale in Myrtle Beach at 510 Fairwood Lakes Dr. #17-P, Myrtle Beach, SC, 29588 generates $1,075/mo in rent and, after a $675/mo payment, leaves $254/mo in cash flow. Total monthly income is $1,075/mo, and annual cash flow is $3,047/yr on $45,747 invested. Return on cash invested sits at 26.57% in year one, and rental yield is 9.35% on a $138,000 entry. Equity gained on principal adds $890/yr, while 5% annual appreciation builds toward $38,127 over five years. Five-year ROI reaches 138.28% and total cumulative return in cash sums $63,258. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,075/mo property income rather than buyer’s personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29588, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,273 (100%) |
| Owner Occupied HU | 17,595 (67.0%) |
| Renter Occupied HU | 5,626 (21.4%) |
| Vacant Housing Units | 3,052 (11.6%) |
| Median Home Value | $312,579 |
| Average Home Value | $340,906 |
Housing Distribution
Address Breakdown
Residential
24,236
Single Family
20,622
Multi-Family
3,614
Businesses
1,149
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Listed by: The Mills Group Team • Century 21 Barefoot Realty
Mls Name: CCAR
Mls ID: #2524408