Updated Beachside
For Sale
$575,000
404 34th Ave. S, North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size1,742 SF
Price / SF$330.08
Days on Market106
Property Features for 404 34th Ave. S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17, East of Highway 17 Bypass, Inside City Limits
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11C North Myrtle Beach Area--Crescent Beach
Standard status
Active
Size
1,742 SF
Utilities
Utilities
Cable Available
Amenities
in-unit washer/dryer
patio
gas grill
Building Details
Year built
1956
Number of units
2
Listing Agency:
Century 21 Barefoot Realty · Century 21 Real Estate
(843) 390-2121
Listed By:
The Mills Group Team · License #17587
(843) 252-0847
Added: May 18
Changed: Aug 31
Last Checked: Aug 31 at 3:06PM
MLS# 2612739
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 1,742-square-foot duplex in North Myrtle Beach includes two separate living levels, each with 2 bedrooms and 2 full baths. Opposite-side entrances provide privacy between units, while dedicated washers and dryers support independent use. The property sits on a double lot and includes updated bathrooms, newer appliances, and refreshed interior finishes. The lower level features upgraded cabinetry and granite countertops, while the upper unit is furnished and receives abundant natural light through oversized living room windows.
Major improvements include a metal roof installed in 2017 and two HVAC systems replaced in December 2023. Exterior features include a furnished patio with a gas grill. The property is approximately 100 steps from the beach, outside a flood zone, and has no HOA. Built in 1956, it also offers cable availability and a location in the Crescent Beach area of North Myrtle Beach.
Major improvements include a metal roof installed in 2017 and two HVAC systems replaced in December 2023. Exterior features include a furnished patio with a gas grill. The property is approximately 100 steps from the beach, outside a flood zone, and has no HOA. Built in 1956, it also offers cable availability and a location in the Crescent Beach area of North Myrtle Beach.
Key Highlights
- 1,742 square feet arranged as a two‑level duplex
- Each level has 2 bedrooms, 2 full baths, and its own washer and dryer
- Approximately 100 steps from the beach on a double lot
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
$17,793
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
3.09%
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%
$355,860
$355.9K
Cap Rate 7%
$254,186
$254.2K
Cap Rate 9%
$197,700
$197.7K
Market Conditions
NOI Build-Up for 1,742 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
$26.8K $15.36/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$25.4K $14.59/SF
− OpEx
−$7.6K −$4.38/SF
NOI
$17.8K $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%
$355,860
Cap Rate 7%
$254,186
Cap Rate 9%
$197,700
Alternative Uses
Best Use
Multifamily LT 5
$254.2K
$222.4K – $296.6K
NOI $17,793 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$229.7K
$201.0K – $268.0K
NOI $16,081 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$441.5K
$386.3K – $515.1K
NOI $30,904 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
619
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 - Two private levels provide matching bedroom-and-bath layouts, in-unit laundry, and flexible use for owners, guests, or renters.
Where is this duplex located?
The property is located at 404 34th Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,742 square feet arranged as a two‑level duplex; Each level has 2 bedrooms, 2 full baths, and its own washer and dryer; Approximately 100 steps from the beach on a double lot
