601 Mitchell Dr. #1402Myrtle 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
Investment property for sale in Myrtle Beach at 601 Mitchell Dr. #1402, Myrtle Beach, SC, 29577 earns $554/mo cash flow from $1,744/mo rent with a $978/mo payment. Total monthly income totals $1,744/mo, and annual cash flow totals $6,653/yr on $66,267 capital. ROI tracks 29.95% on current figures, and rental yield reads 10.47% at a $199,900 purchase. Equity gained on principal adds $1,290/yr, and 5% annual appreciation supports $55,229 over five years. Five-year ROI reaches 156.4% and total cumulative return in cash sums $103,645. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,744/mo property income instead of your personal income.
Condo
Built in 1978
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: Abe Safa Sales Team • Century 21 The Harrelson Group
Mls Name: CCAR
Mls ID: #2525130