924 Fairwood Lakes Ln. UNIT 24-DMyrtle BeachSC29588
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow924 Fairwood Lakes Ln. UNIT 24-D, Myrtle Beach, SC, 29588 in Myrtle Beach earns a respectable 10.85% gross yield at $124,500, but after the $560/mo mortgage the net cash flow is $86/mo, a tight but positive spread. Expense discipline (vacancy, management, maintenance) will determine whether the margin widens. Ziffy Mortgage's DSCR mortgage (2.01) still qualifies on property income; a larger down payment can improve the cash-flow buffer. Long-term, 5% appreciation projects $34,397 over five years, making equity the dominant return driver. Total projected return: $53,927.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 4.2% |
| Monthly Cash Flow | $86 | $850 |
City averages based on Myrtle Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,126 |
| Total Monthly Debt Service | $991 |
| DSCR Ratio | 1.14x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1991
N/A lot
$N/A/sqft
$299 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1991
N/A lot
$N/A/sqft
$299 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bob Zeller Jr • RE/MAX Southern Shores GC
Mls Name: CCAR
Mls Provider:
Mls ID: #2420495
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.