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    Updated Apartment Near North Myrtle Title is generated by Realmo AI

    4047 Fairway Dr., Little River, SC 29566

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    For Lease
    $1,350/Mo $16 SF/Yr (calc)

    LAND - Little River, SC

    Property size:
    983 SF
    Added:
    May 5, 2026
    Days on Market:
    18
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 4047 Fairway Dr.

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SF6
    Interior features
    Wind Treat Convey
    Standard status
    Active
    Size
    983 SF

    Taxes and HOA fees

    Expense value
    50
    Expense
    Application Fee
    Expense freq.
    One Time

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1983
    Floors in Building
    1
    Flooring type
    Tile

    We can help!

    Listing Contact
    Kemp Nash2
    Kemp Nash2

    Listing agent Kemp Nash2 License #21294

    Listing office Century 21 Coastal Lifestyles North Myrtle Beach, SC

    Listing date May 5, 2026

    MLS# 2611618 Listing URL

    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.

    HighLights

    • Freshly updated 2 bedroom, 1 bath apartment with new paint and tile flooring.
    • Convenient location minutes from North Myrtle Beach, Calabash, and Sunset Beach.
    • Rent includes landscaping, pest control, and trash pickup for low‑maintenance living.
    • Includes a stack washer and dryer.
    • Located in a quiet quadplex.
    • Cable Available

    Overview

    This is a freshly updated 2-bedroom, 1-bath first-floor apartment available for rent in Little River, South Carolina. It is located within a quiet quadplex. The interior has been recently painted and features finished ceilings and tile flooring throughout. A stack washer and dryer are included in the unit. Rent covers landscaping, pest control, and trash pickup. The property is located close to North Myrtle Beach, offering access to restaurants, shopping, entertainment, and beaches. Calabash and Sunset Beach are also nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Little River
    County
    Horry
    State
    South Carolina
    Longitude
    -78.647803
    Latitude
    33.869678

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    FAQs

    What type of property is this?
    Quadplex - Recently updated 2-bedroom apartment in Little River, South Carolina.
    Where is this quadplex located?
    The property is located at 4047 Fairway Dr. Little River, SC.
    What is the lease rate?
    The lease rate is $1,350 /Mo.
    What are key features of this property?
    This property features: Freshly updated 2 bedroom, 1 bath apartment with new paint and tile flooring.; Convenient location minutes from North Myrtle Beach, Calabash, and Sunset Beach.; Rent includes landscaping, pest control, and trash pickup for low‑maintenance living.
    (843) 222-8798
    We can help!
    Listing Contact
    Kemp Nash2
    Kemp Nash2
    Real Estate License ID: 21294
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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