601 Mitchell Dr. #401Myrtle 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. Total monthly income runs $1,353/mo, and a $979/mo payment. Purchase price stands at $200,000, and rental yield measures 8.12% with $1,353/mo rent. Return on cash invested shows 7.84% in year one, and 5% annual appreciation builds toward $55,256 over five years. Five-year ROI reaches 43.31% and total cumulative return in cash records $28,712. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,353/mo property income covering a $979/mo payment rather than investor’s personal income.
Condo
Built in 1978
N/A lot
$N/A/sqft
$621 monthly 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: Jakob Matics • Century 21 Stopper &Associates
Mls Name: CCAR
Mls Provider:
Mls ID: #2518778
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.