Myrtle Beach Investment
For Sale
$249,800
307 Flagg St., Myrtle Beach, SC 29577
MULTI_FAMILY - Myrtle Beach, SC
Property Size728 SF
Price / SF$343.13
Days on Market343
Property Features for 307 Flagg St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Irregular, East of Bus. 17, Inside City Limits, Oceanview, East of Highway 17 Bypass
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Intermediate School
High school
Myrtle Beach High School
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
728 SF
Utilities
Utilities
Cable Available
Building Details
Year built
1976
Number of units
4
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
Jeffrey Celentano
(845) 283-0425
Added: Sep 4, 2025
Changed: May 21
Last Checked: Aug 12 at 5:06PM
MLS# 2521772
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.
Attention investors, a profitable investment opportunity near the beach is available. This is a block of four efficiency units, each 182 square feet, located in the heart of Myrtle Beach, one block from the beach and one block from the Second Avenue Pier. The property, known as Ocean Side Villas, offers a private salt-water pool, a BBQ grill area, patio furniture, and an outdoor shower. Private off-street parking is available. The HOA fees include unit electric, water/sewer, Spectrum cable and internet, common electric, outside maintenance, and insurance. This listing is offered as a package of four units, but any unit can be purchased individually or as part of a package group of 2 units, 3 units, or 4 units. All of the units are in good to decent condition. The owner has four efficiency units for sale. The property is located at 307 Flagg St., Myrtle Beach, SC 29577. The total property size is 728 square feet. The HOA fee is $479 per month per unit.
Key Highlights
- Package of four efficiency units, a great opportunity for investors, located in the heart of Myrtle Beach.
- One block from the beach and the Second Avenue Pier.
- Enjoy the private salt‑water pool with BBQ grill area, patio furniture, and outdoor shower.
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
$7,436
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
2.98%
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%
$148,720
$148.7K
Cap Rate 7%
$106,229
$106.2K
Cap Rate 9%
$82,622
$82.6K
Market Conditions
NOI Build-Up for 728 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
$11.2K $15.36/SF
− Vacancy
−$559 −$0.77/SF
EGI
$10.6K $14.59/SF
− OpEx
−$3.2K −$4.38/SF
NOI
$7.4K $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%
$148,720
Cap Rate 7%
$106,229
Cap Rate 9%
$82,622
Alternative Uses
Best Use
Multifamily LT 5
$106.2K
$93.0K – $123.9K
NOI $7,436 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$96.0K
$84.0K – $112.0K
NOI $6,720 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$184.5K
$161.4K – $215.3K
NOI $12,915 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
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?
Quadplex - Four efficiency units near the beach in Myrtle Beach, SC.
Where is this quadplex located?
The property is located at 307 Flagg St. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $249,800.
What are key features of this property?
This property features: Package of four efficiency units, a great opportunity for investors, located in the heart of Myrtle Beach.; One block from the beach and the Second Avenue Pier.; Enjoy the private salt‑water pool with BBQ grill area, patio furniture, and outdoor shower.
