601 Mitchell Dr. #207Myrtle 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. #207, Myrtle Beach, SC, 29577 uses $77,865 cash to close to unlock $5,405/yr annual cash flow and $450/mo monthly cash flow. Total monthly income runs $1,849/mo, and a $1,150/mo payment keeps the spread at $450/mo. Purchase price stands at $234,888, and rental yield measures 9.45% with $1,849/mo rent. Return on cash invested shows 26.85% in year one, and 5% annual appreciation builds toward $64,895 over five years. Five-year ROI reaches 139.8% and total cumulative return in cash records $108,857. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,849/mo property income covering a $1,150/mo payment rather than investor’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
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Listed by: Yana Lynch • Fidei Real Estate Int'l
Mls Name: CCAR
Mls ID: #2523452