689 Palm Bay Dr. Phase 2 Lot 167Myrtle BeachSC29588
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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 689 Palm Bay Dr. Phase 2 Lot 167, Myrtle Beach, SC, 29588 listed at $397,090 pairs $2,520/mo rent with a $1,944/mo payment to leave $156/mo cash flow. Total monthly income runs $2,520/mo, and annual cash flow reaches $1,869/yr on $131,635 cash to close. Return on cash invested measures 21.33% in year one, and rental yield registers 7.62% at a $397,090 basis. Equity gained on principal adds $2,562/yr, and annual property appreciation at 5% supports $109,709 by year five. Five-year ROI tracks 110.14% and total cumulative return in cash totals $144,986. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,520/mo property income relative to a $1,944/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2025
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 29588, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,273 (100%) |
| Owner Occupied HU | 17,595 (67.0%) |
| Renter Occupied HU | 5,626 (21.4%) |
| Vacant Housing Units | 3,052 (11.6%) |
| Median Home Value | $312,579 |
| Average Home Value | $340,906 |
Housing Distribution
Address Breakdown
Residential
24,236
Single Family
20,622
Multi-Family
3,614
Businesses
1,149
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Listed by: Lauren M Castellano • Pulte Home Company, LLC
Mls Name: CCAR
Mls ID: #2519923