705 Riverwalk Dr. #101Myrtle BeachSC29579
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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 705 Riverwalk Dr. #101, Myrtle Beach, SC, 29579 uses $82,709 cash to close to unlock $6,371/yr annual cash flow and $531/mo monthly cash flow. Total monthly income runs $2,016/mo, and a $1,221/mo payment keeps the spread at $531/mo. Purchase price stands at $249,500, and rental yield measures 9.7% with $2,016/mo rent. Return on cash invested shows 27.61% in year one, and 5% annual appreciation builds toward $68,932 over five years. Five-year ROI reaches 143.84% and total cumulative return in cash records $118,965. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,016/mo property income covering a $1,221/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: 29579, Myrtle Beach, SC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,319 (100%) |
| Owner Occupied HU | 17,677 (60.3%) |
| Renter Occupied HU | 7,507 (25.6%) |
| Vacant Housing Units | 4,135 (14.1%) |
| Median Home Value | $370,725 |
| Average Home Value | $418,546 |
Housing Distribution
Address Breakdown
Residential
29,078
Single Family
23,909
Multi-Family
5,169
Businesses
1,094
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Listed by: Jaime Eichelberg • RE/MAX Executive
Mls Name: CCAR
Mls ID: #2521804