Furnished Duplex with Two Living
For Sale
$525,000
114 Pinewood Dr. N, Surfside Beach, SC 29575
Two separate units provide individual kitchens, living areas, laundry hookups, and outdoor spaces.
Property Size2,065 SF
Price / SF$254.24
Days on Market28
Property Features for 114 Pinewood Dr. N
General Information
Standard status
Active
Size
2,065 SF
Property subtype
Multi-Family
Units
Unit Mix
3BR/1BA, 2BR loft
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
washer/dryer hookups
private deck
yard
Building Details
Year Built
1957
Buildings
1
Listing Agency:
Beachconnection Realty
(843) 405-3515
Listed By:
Greg Harrelson
(843) 405-3515
Source:
Gregharrelson
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 26 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Beachconnection Realty
Investment Insights
Based on property information with market context.
This furnished duplex in Surfside Beach contains two distinct residential units totaling 2,065 square feet. The lower residence includes three bedrooms, one bathroom, a full kitchen, an open living area, and washer/dryer hookups. Upstairs, a two-bedroom loft offers an open-concept layout, full kitchen, spacious living area, washer/dryer hookups, and a private deck. Both units include separate outdoor areas and access to a generous yard.
The property is within walking distance of the beach, Surfside Pier, and local restaurants, with the library, tennis courts, children’s playground, Surfside Park, and dog park just minutes away. Short-term and long-term rentals are permitted. Property improvements include a roof installed in 2019 and replacement of both HVAC systems in November 2021. Built in 1957, the duplex is located at 114 Pinewood Dr. N in Surfside Beach, SC 29575.
The property is within walking distance of the beach, Surfside Pier, and local restaurants, with the library, tennis courts, children’s playground, Surfside Park, and dog park just minutes away. Short-term and long-term rentals are permitted. Property improvements include a roof installed in 2019 and replacement of both HVAC systems in November 2021. Built in 1957, the duplex is located at 114 Pinewood Dr. N in Surfside Beach, SC 29575.
Key Highlights
- 2,065‑square‑foot furnished duplex with two separate living spaces
- Lower unit has 3 bedrooms, 1 bath, full kitchen, open living area, and washer/dryer hookups
- Upper unit features a 2‑bedroom loft, full kitchen, open living area, hookups, and private deck
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
$21,093
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
4.02%
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%
$421,860
$421.9K
Cap Rate 7%
$301,329
$301.3K
Cap Rate 9%
$234,367
$234.4K
Market Conditions
NOI Build-Up for 2,065 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
$31.7K $15.36/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$30.1K $14.59/SF
− OpEx
−$9.0K −$4.38/SF
NOI
$21.1K $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%
$421,860
Cap Rate 7%
$301,329
Cap Rate 9%
$234,367
Alternative Uses
Best Use
Multifamily LT 5
$301.3K
$263.7K – $351.6K
NOI $21,093 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$272.3K
$238.3K – $317.7K
NOI $19,063 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$523.4K
$457.9K – $610.6K
NOI $36,635 @ 7.0% cap · market cap 6.98%
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
533
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units provide individual kitchens, living areas, laundry hookups, and outdoor spaces.
Where is this duplex located?
The property is located at 114 Pinewood Dr. N Surfside Beach, SC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,065‑square‑foot furnished duplex with two separate living spaces; Lower unit has 3 bedrooms, 1 bath, full kitchen, open living area, and washer/dryer hookups; Upper unit features a 2‑bedroom loft, full kitchen, open living area, hookups, and private deck
