606 S 7th Ave. #FNorth Myrtle BeachSC29582
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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 North Myrtle Beach at 606 S 7th Ave. #F, North Myrtle Beach, SC, 29582 uses $84,533 cash to close to unlock $6,962/yr annual cash flow and $580/mo monthly cash flow. Total monthly income runs $2,098/mo, and a $1,248/mo payment keeps the spread at $580/mo. Purchase price stands at $255,000, and rental yield measures 9.87% with $2,098/mo rent. Return on cash invested shows 28.14% in year one, and 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 146.74% and total cumulative return in cash records $124,040. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,098/mo property income covering a $1,248/mo payment rather than investor’s personal income.
Condo
Built in 1998
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29582, North Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,971 (100%) |
| Owner Occupied HU | 8,741 (31.3%) |
| Renter Occupied HU | 2,173 ( 7.8%) |
| Vacant Housing Units | 17,057 (61.0%) |
| Median Home Value | $429,213 |
| Average Home Value | $486,164 |
Housing Distribution
Address Breakdown
Residential
14,598
Single Family
10,230
Multi-Family
4,368
Businesses
1,216
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Listed by: Kyle A Cox • Ocean Front Guru Real Estate
Mls Name: CCAR
Mls ID: #2521710