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Long-Term Rental Analysis
503 Lake Park Dr., Myrtle Beach, SC 29588
$255,000 • 3 beds • 3 baths • 1699 sqft
This property looks like a bad Long-Term investment with a projected -1.34% first-year return on $53,550 initial cash invested.
Cash On Cash
-1.34%
Cap Rate
6.58%
Rent
$2,045
Signal: Med.
Cashflow
-$60
Financing
Purchase Price $255k
Downpayment 20.0%
Interest Rate 7.0%
Mortgage Duration 30yr.
Cash To Invest
Total $53,550
Downpayment $51,000
Closing costs $2,550
Rehab $0
Furnishing $0
Cashflow
Total Income $2,045
Total Expenses $2,105
Mortgage P&I $1,357
Property Taxes $66
Home Insurance $89
HOA $62
PManagement $204
CapEx $102
Vacancy $123
Maintenance $102
Other $0
Google Maps with the subject property comparables is loading...
| # | Comparable Property | Rent | Beds | Baths | SQFT | Distance |
|---|---|---|---|---|---|---|
| 1 | 166 Olde Towne Way, Unit 3 | $1795 | 3 | 3 | 1600 | 1.7 mi |
| 2 | 185 Olde Towne Way, Unit 2 | $1800 | 3 | 3 | 1600 | 1.7 mi |
| 3 | 174 Olde Towne Way, Unit 2 | $1600 | 3 | 3 | 1600 | 1.7 mi |
| 4 | 439 Wallingford Cir | $2250 | 3 | 2.5 | 1750 | 1.3 mi |
| 5 | 173 Olde Towne Way, Unit 1 | $2100 | 3 | 2.5 | 1750 | 1.7 mi |
| 6 | 208 Brackish Dr | $2000 | 3 | 3 | 1437 | 1.6 mi |
| 7 | 204 Machrie Loop, Unit C | $2195 | 3 | 2.5 | 1740 | 2.1 mi |
| 8 | 231 Dorian Loop | $2145 | 3 | 2 | 1708 | 1.3 mi |
| 9 | 364 Augustine Dr | $2045 | 3 | 2 | 1708 | 1.3 mi |
| 10 | 367 Augustine Dr | $2000 | 3 | 2 | 1708 | 1.4 mi |
| 11 | 332 Augustine Dr | $2180 | 3 | 2 | 1708 | 1.4 mi |
| 12 | 207 Dorian Loop | $2145 | 3 | 2 | 1708 | 1.4 mi |
| 13 | 347 Augustine Dr | $1995 | 3 | 2 | 1708 | 1.4 mi |
| 14 | 311 Augustine Dr | $2045 | 3 | 2 | 1708 | 1.5 mi |
| 15 | 1900 Culbertson Ave | $2500 | 3 | 3 | 1850 | 3.5 mi |
| 16 | 336 Augustine Dr | $2195 | 3 | 2 | 1665 | 1.4 mi |
| 17 | 190 Culbertson Ave | $2500 | 3 | 3 | 1850 | 3.5 mi |
| 18 | 204 Dorian Loop | $1895 | 3 | 2 | 1665 | 1.4 mi |
| 19 | 111 Dorian Loop | $1995 | 3 | 2 | 1676 | 1.5 mi |
| 20 | 331 Augustine Dr | $1895 | 3 | 2 | 1665 | 1.5 mi |
| 21 | 512 Calypso Dr | $2300 | 3 | 2 | 1650 | 1.3 mi |
| 22 | 312 Augustine Dr | $2015 | 3 | 2 | 1665 | 1.5 mi |
| 23 | 183 Dorian Loop | $2125 | 3 | 2 | 1665 | 1.5 mi |
| 24 | 324 Augustine Dr | $1994 | 3 | 2 | 1665 | 1.4 mi |
| 25 | 319 Augustine Dr | $1975 | 3 | 2 | 1665 | 1.5 mi |