New Construction Duplex
For Sale
$694,900
21 & 23 Graybo Ln, Pawleys Island, SC 29585
MULTI-FAMILY, Pawleys Island, SC
Property Size2,827 SF
Price / SF$245.81
Days on Market237
Property Features for 21 & 23 Graybo Ln
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Subdivision
Petigru Place
Lot features
Outside City Limits
Elementary school
Waccamaw Elementary School
Middle school
Waccamaw Middle School
High school
Waccamaw High School
Standard status
Active
Size
2,827 SF
Utilities
Utilities
Cable Available
Building Details
Year built
2026
Number of units
2
Listing Agency:
Dunes Realty Sales
(843) 651-4112
Listed By:
Kyle Hawley · License #93774
(843) 241-8684
Added: Feb 12
Changed: Oct 6
Last Checked: Oct 7 at 1:06AM
MLS# 2603860
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.
This under-construction duplex offering combines two fee-simple townhome residences with distinct layouts. Unit A has three bedrooms and two full bathrooms upstairs, plus a half bath on the main level. Unit B includes a main-level bedroom with an ensuite bath and powder room, with two additional bedrooms and two full bathrooms upstairs. The combined property contains 2,827 square feet.
Interior and exterior finishes include James Hardie ColorPlus siding with a 15-year limited warranty, stainless steel kitchen appliances, solid-surface counters, custom tile backsplashes, and luxury vinyl plank flooring in the main living areas and bedrooms. Each home also has a covered rear patio, ceiling fans in every bedroom, and professionally landscaped grounds. Completion is estimated for Spring 2027; construction can begin immediately following an accepted offer.
The homes are part of a six-building community with 12 townhome residences. Short- and long-term rentals are permitted, subject to a two-night minimum stay.
Interior and exterior finishes include James Hardie ColorPlus siding with a 15-year limited warranty, stainless steel kitchen appliances, solid-surface counters, custom tile backsplashes, and luxury vinyl plank flooring in the main living areas and bedrooms. Each home also has a covered rear patio, ceiling fans in every bedroom, and professionally landscaped grounds. Completion is estimated for Spring 2027; construction can begin immediately following an accepted offer.
The homes are part of a six-building community with 12 townhome residences. Short- and long-term rentals are permitted, subject to a two-night minimum stay.
Key Highlights
- Two duplex residences offered together as fee‑simple townhomes
- 2,827 square feet combined
- Unit A: three upstairs bedrooms, two full baths upstairs, and a main‑level half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,375
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,500
$527.5K
Cap Rate 7%
$376,786
$376.8K
Cap Rate 9%
$293,056
$293.1K
Market Conditions
NOI Build-Up for 2,827 SF
Gross rent
$38.3K $13.56/SF
− Vacancy
−$656 −$0.23/SF
EGI
$37.7K $13.33/SF
− OpEx
−$11.3K −$4.00/SF
NOI
$26.4K $9.33/SF
Area
Georgetown County, SC
Vacancy
1.71%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,500
Cap Rate 7%
$376,786
Cap Rate 9%
$293,056
Alternative Uses
Best Use
Multifamily LT 5
$376.8K
$329.7K – $439.6K
NOI $26,375 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$335.0K
$293.2K – $390.9K
NOI $23,453 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$775.4K
$678.5K – $904.6K
NOI $54,278 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
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Business Placement
Demographics for 29585, SC
16,574
Population
12,061
Households
1.4
Avg Household Size
60
Median Age
50%
College-Educated
96%
High-School Grad
61.8 sq mi
ZIP Area
268
Density / Sq Mi
$83,077
Median Household Income
$42,237
Median Earnings
$1,599
Median Rent
$423,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two fee-simple residences offer distinct bedroom layouts and allow short- or long-term rentals with a two-night minimum stay.
Where is this duplex located?
The property is located at 21 & 23 Graybo Ln Pawleys Island, SC.
What is the asking price?
The asking price for this property is $694,900.
What are key features of this property?
This property features: Two duplex residences offered together as fee‑simple townhomes; 2,827 square feet combined; Unit A: three upstairs bedrooms, two full baths upstairs, and a main‑level half bath
