583 Riverward Dr. UNIT n/aMyrtle 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
Investment property for sale in Myrtle Beach at 583 Riverward Dr. UNIT n/a, Myrtle Beach, SC, 29588 uses $92,489 cash to close to unlock $2,474/yr annual cash flow and $206/mo monthly cash flow. Total monthly income runs $2,302/mo, and a $1,366/mo payment keeps the spread at $206/mo. Purchase price stands at $279,000, and rental yield measures 9.9% with $2,302/mo rent. Return on cash invested shows 22.58% in year one, and 5% annual appreciation builds toward $77,083 over five years. Five-year ROI reaches 118.97% and total cumulative return in cash records $110,035. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,302/mo property income covering a $1,366/mo payment rather than investor’s personal income.
Townhouse
Built in 2007
N/A lot
$N/A/sqft
$399 monthly 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: Lori White • RE/MAX Southern Shores
Mls Name: CCAR
Mls Provider:
Mls ID: #2507837
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.