5511 N Ocean Blvd. #706Myrtle BeachSC29577
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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 5511 N Ocean Blvd. #706, Myrtle Beach, SC, 29577 generates $1,720/mo in rent and, after a $1,150/mo payment, leaves $321/mo in cash flow. Total monthly income is $1,720/mo, and annual cash flow is $3,857/yr on $77,869 invested. Return on cash invested sits at 24.86% in year one, and rental yield is 8.79% on a $234,900 entry. Equity gained on principal adds $1,516/yr, while 5% annual appreciation builds toward $64,899 over five years. Five-year ROI reaches 129.14% and total cumulative return in cash sums $100,557. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,720/mo property income rather than buyer’s personal income.
Condo
Built in 1985
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29577, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,187 (100%) |
| Owner Occupied HU | 10,767 (44.5%) |
| Renter Occupied HU | 7,443 (30.8%) |
| Vacant Housing Units | 5,977 (24.7%) |
| Median Home Value | $386,984 |
| Average Home Value | $425,164 |
Housing Distribution
Address Breakdown
Residential
20,975
Single Family
16,599
Multi-Family
4,376
Businesses
2,968
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Listed by: Tim Harvey Team • The Hoffman Group
Mls Name: CCAR
Mls ID: #2600610