601 Mitchell Dr. #1407Myrtle BeachSC29577
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 601 Mitchell Dr. #1407, Myrtle Beach, SC, 29577 generates $1,592/mo in rent, after a $1,468/mo payment. Total monthly income is $1,592/mo. Return on cash invested sits at 17.57% in year one, and rental yield is 6.37% on a $299,900 entry. Equity gained on principal adds $1,935/yr, while 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 90.03% and total cumulative return in cash sums $89,500. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,592/mo property income rather than buyer’s 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Scott Howard • Century 21 Palms Realty
Mls Name: CCAR
Mls ID: #2520742