620 S Palmetto WayMyrtle BeachSC29575
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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
Rental property for sale in Myrtle Beach at 620 S Palmetto Way, Myrtle Beach, SC, 29575 priced at $625,000 pairs $2,673/mo rent with after a $3,059/mo payment. Total monthly income equals $2,673/mo. Return on cash invested is 13.95% in year one, and rental yield stands at 5.13% on a $625,000 basis. Equity gained on principal adds $4,033/yr, and 5% annual appreciation accumulates to $172,676 by year five. Five-year ROI measures 70.53% and total cumulative return in cash reaches $145,033. For financing, Ziffy Mortgage’s DSCR program evaluates $2,673/mo property income against a $3,059/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2006
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29575, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,239 (100%) |
| Owner Occupied HU | 7,983 (49.2%) |
| Renter Occupied HU | 2,316 (14.3%) |
| Vacant Housing Units | 5,940 (36.6%) |
| Median Home Value | $357,758 |
| Average Home Value | $393,262 |
Housing Distribution
Address Breakdown
Residential
12,623
Single Family
9,908
Multi-Family
2,715
Businesses
702
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Listed by: Christine M Howard • CRG Homes
Mls Name: CCAR
Mls ID: #2528592