Brick Duplex with New
New
For Sale
$443,000
1019 Bay Rd., Surfside Beach, SC 29575
MULTI_FAMILY - Surfside Beach, SC
Property Size1,624 SF
Price / SF$272.78
Days on Market1
Property Features for 1019 Bay Rd.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Sparrow
Lot features
East of Bus. 17, Inside City Limits, East of Highway 17 Bypass
Elementary school
Seaside Elementary School
Middle school
Saint James Middle School
High school
Saint James High School
Standard status
Active
Size
1,624 SF
Utilities
Utilities
Cable Available
Amenities
large backyard
storage facilities
Building Details
Year built
1974
Number of units
2
Listing Agency:
BHHS Myrtle Beach Real Estate · Berkshire Hathaway HomeServices
(843) 449-9444
Listed By:
Jim Fassbender · License #84930
(843) 957-4485
Added: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# 2619797
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 1,624-square-foot duplex, built in 1974, has an all-brick exterior and two residential units. Each unit includes two bedrooms and one bathroom, while brand-new HVAC systems serve both sides. The property is currently vacant, allowing the next owner to establish occupancy according to their plans.
Outdoor features include a large backyard and storage facilities. The duplex is located in Surfside Beach, just blocks from the beach and within golf-cart distance. Tenants are responsible for all utilities, and cable service is available.
Outdoor features include a large backyard and storage facilities. The duplex is located in Surfside Beach, just blocks from the beach and within golf-cart distance. Tenants are responsible for all utilities, and cable service is available.
Key Highlights
- 1,624 SF all‑brick duplex built in 1974
- Two units, each with 2 bedrooms and 1 bath
- Brand‑new HVAC systems in both units
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
$16,588
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
3.74%
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%
$331,760
$331.8K
Cap Rate 7%
$236,971
$237.0K
Cap Rate 9%
$184,311
$184.3K
Market Conditions
NOI Build-Up for 1,624 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
$24.9K $15.36/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$23.7K $14.59/SF
− OpEx
−$7.1K −$4.38/SF
NOI
$16.6K $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%
$331,760
Cap Rate 7%
$236,971
Cap Rate 9%
$184,311
Alternative Uses
Best Use
Multifamily LT 5
$237.0K
$207.4K – $276.5K
NOI $16,588 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$214.2K
$187.4K – $249.9K
NOI $14,992 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$411.6K
$360.1K – $480.2K
NOI $28,811 @ 7.0% cap · market cap 6.50%
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
510
Businesses Nearby
Explore this area
Business Placement
Demographics for 29575, SC
18,135
Population
16,761
Households
1.1
Avg Household Size
57
Median Age
33%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$72,029
Median Household Income
$38,182
Median Earnings
$1,234
Median Rent
$278,800
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 vacant units provide matching two-bedroom, one-bath layouts with tenant-paid utilities.
Where is this duplex located?
The property is located at 1019 Bay Rd. Surfside Beach, SC.
What is the asking price?
The asking price for this property is $443,000.
What are key features of this property?
This property features: 1,624 SF all‑brick duplex built in 1974; Two units, each with 2 bedrooms and 1 bath; Brand‑new HVAC systems in both units
