Updated Duplex Near Cherry
For Sale
$815,000
206 30th Ave. N, North Myrtle Beach, SC 29582
MULTI_FAMILY - North Myrtle Beach, SC
Property Size2,828 SF
Price / SF$288.19
Days on Market105
Property Features for 206 30th Ave. N
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Rectangular, East of Bus. 17, Inside City Limits, Second Row Beach, Second Row Other
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11A North Myrtle Beach Area--Cherry Grove
Standard status
Active
Size
2,828 SF
Building Details
Year built
1981
Number of units
2
Listing Agency:
CENTURY 21 Broadhurst · Century 21 Real Estate
(843) 448-7169
Listed By:
Houser & Co. Team · License #125995
(843) 999-5933
Added: May 1
Changed: May 23
Last Checked: Aug 13 at 7:06AM
MLS# 2611311
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located one block from the beach in the Cherry Grove section of North Myrtle Beach, this duplex at 206 30th Ave North features two identical units, each with 3 bedrooms and 2 bathrooms. The property has been updated throughout and offers open-concept living areas, modern kitchens, stylish bathrooms, and coastal finishes. Each unit includes front and rear balconies. The ground floor includes a versatile owner's closet that functions as a fully equipped studio with a full bath and kitchen, presenting an opportunity to convert it into an updated amenity center, private owner's suite, or additional rental space. The property is located in a sought-after coastal destination known for its beaches and vacation rental demand, with access to attractions like Cherry Grove Pier, dining, shopping, and golf courses. The property is suitable as a vacation rental, an income-producing investment, or a personal beach retreat. The property size is 2828 square feet.
Key Highlights
- Prime location: One block from the beach in the highly desirable Cherry Grove section of North Myrtle Beach.
- Two identical, updated 3‑bedroom, 2‑bath units with open‑concept living areas and modern kitchens.
- Strong income‑producing investment potential due to high vacation rental demand.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,886
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$577,720
$577.7K
Cap Rate 7%
$412,657
$412.7K
Cap Rate 9%
$320,956
$321.0K
Market Conditions
NOI Build-Up for 2,828 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.4K $15.36/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$41.3K $14.59/SF
− OpEx
−$12.4K −$4.38/SF
NOI
$28.9K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$577,720
Cap Rate 7%
$412,657
Cap Rate 9%
$320,956
Alternative Uses
Best Use
Multifamily LT 5
$412.7K
$361.1K – $481.4K
NOI $28,886 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$372.9K
$326.3K – $435.1K
NOI $26,106 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$716.7K
$627.1K – $836.2K
NOI $50,171 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Spacious, updated duplex near the beach in North Myrtle Beach.
Where is this duplex located?
The property is located at 206 30th Ave. N North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Prime location: One block from the beach in the highly desirable Cherry Grove section of North Myrtle Beach.; Two identical, updated 3‑bedroom, 2‑bath units with open‑concept living areas and modern kitchens.; Strong income‑producing investment potential due to high vacation rental demand.
