Introduction
Whether one wants to invest in real estate to earn a profit through property flipping or to create a source of cash flow, it may be a rewarding endeavor. Finding a single-family house for sale that offers a decent investment opportunity is one method to do this. Due to its desirable location, rising value due to demand, and developed infrastructure, the single-family home at 4400 Old Kings Hwy, Murrells Inlet, South Carolina, is an attractive investment opportunity.
A Single-Family House for Sale
A great investment opportunity is a single-family property at 4400 Old Kings Hwy, Murrells Inlet, South Carolina. Families that wish to live in a quiet neighborhood with easy access to necessary facilities will love the property’s location. The home has three bedrooms, two bathrooms, and almost 1,400 square feet of living area, which can easily fit a growing family (Zillow, 2023). According to the advertisement, the house is listed for $150,000 (Zillow, 2023).
The property additionally includes a large garden and a single-car garage, all of which are ideal for hosting friends or simply resting (Zillow, 2023). The house is situated on a 0.25-acre lot, which offers enough room for outdoor activities, according to the location of the property. (Zillow, 2023) The area is relatively calm and safe, making it the perfect spot to raise a family (Zillow, 2023). Additionally, the residence is perfectly positioned close to all necessary services.
One of the most significant benefits of purchasing this property is the possibility of rental income. Due to its excellent location, which is highly sought-after by tenants, this property has the potential to generate rental income. Attractive schools, commercial areas, and entertainment alternatives make the neighborhood a desirable place to live for renters. The neighborhood’s comparable properties rent for about $1,200 per month, resulting in a total yearly income of $14,400 (Zillow, 2023).
However, according to the advertisement and the platform, such a property can be rented for $2,200 a month, resulting in $26,400 in revenue on an annual basis (Zillow, 2023). In addition, rental rates are anticipated to rise in the upcoming years due to the region’s growing demand for rental properties, which indicates that the property’s gross yearly revenue may rise sharply as well. Moreover, the net income would still be sizable after deducting costs like maintenance, insurance, and property taxes, resulting in a consistent flow of cash (Brueggeman & Fisher, 2016). Anyone searching for a long-term investment choice that offers stability and security will find this consistent source of income flow to be a considerable benefit.
The benefits of purchasing this property are numerous, and one of these is the possibility of flipping houses. Even if its structural integrity is good, the house needs aesthetic improvements, such as new carpeting and fresh paint. However, the house’s value may rise by as much as $30,000, with an estimated $20,000 investment in improvements yielding a possible profit of at least $10,000 (Zillow, 2023). As was mentioned, the house has a sizable backyard that could be transformed into an inviting garden or an outdoor party space, which would further boost its value. Lastly, the house boasts a garage that may be used as a workshop or a studio for artistic endeavors, increasing the profit potential.
Finally, another aspect to consider when assessing 4400 Old Kings Hwy as an investment opportunity is its location. The property is located in a desirable area of 4400 Murrells Inlet, South Carolina, with quick access to major highways, commercial malls, and educational facilities (Zillow, 2023). A good addition is the availability of parks within easy reach, offering many possibilities for leisure.
Moreover, the house is located in a developing neighborhood with a low crime rate, which makes it an excellent spot for families to reside (Zillow, 2023). In recent years, there has been consistent expansion in the neighborhood, and as a result, property values have risen. According to the platform, in 2012, this house was sold for $75,000, and its 2023 value is estimated at $310,000, which means that its prices appreciated by 313% (Zillow, 2023). Thus, this property is a wise investment because this tendency is predicted to continue. In this case, purchasing this property offers not only the chance for a successful house-flipping business but also several chances for additional value appreciation through imaginative and functional improvements, making it a good investment decision.
Conclusion
Hence, a single-family house at 4400 Old Kings Hwy, Murrells Inlet, South Carolina, can be considered a great investment opportunity due to its attractive location, appreciating value due to demand, and developed infrastructure. It is an ideal option for investors due to its potential for rental income and house flipping. With a $150,000 asking price and a minimum yearly net income of $14,400, this property provides a fantastic return on investment. It is a desirable alternative for individuals wanting to invest in South Carolina real estate because of locations as far west as Columbia and as far east as Myrtle Beach, both of which are within a few hours of driving distance.
References
Brueggeman, W. B., & Fisher, J. D. (2016). Real estate finance and investments (16th ed.). McGraw-Hill Education.
Zillow. (2023). 4400 Old Kings Hwy, Murrells Inlet, SC 29576. Web.