Furnished Condo with Ocean
For Sale
$157,000
6900 N Ocean Blvd. #1040 Myrtle, Myrtle Beach, SC 29572
Furnished one-bedroom condo with ocean views and resort amenities.
Property Size625 SF
Days on Market687
Property Features for 6900 N Ocean Blvd. #1040 Myrtle
General Information
Standard status
Active
Size
625 SF
Property subtype
Condominium
Amenities
Security System
Cable Ready
Electric
Microwave
Refrigerator
Deck, Pool, Porch, Water Front, Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available
Building Details
Building Size
625 SF
Year Built
1960
Listing Agency:
Keller Williams Myrtle Beach
(843) 503-0033
Listed By:
Brad Emond · License #100092
(843) 503-0033
Source:
Kw
Added: Oct 4, 2024
Changed: Aug 17
Last Checked: Aug 21 at 2:32PM
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 Keller Williams Myrtle Beach
Investment Insights
Based on property information with market context.
This furnished one-bedroom, one-bathroom condo in Myrtle Beach offers ocean views and can accommodate up to 8 people with 2 queen-size beds, a sofa bed, and a full-size Murphy bed. Located in the Grand Strand area, this condo is situated within the Caravelle Resort, which features amenities such as a hot tub spa, lazy river, indoor and outdoor pools, a sun deck, a business center, an outdoor beach bar, a fitness room, a game room, a gift shop, and an oceanfront lawn with a picnic area. This property presents an investment opportunity or a place to relax by the beach.
Key Highlights
- Breathtaking ocean view
- Furnished one bedroom condo with capacity for 8 people
- Located in the heart of Grand Strand area
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
$5,770
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
3.68%
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%
$115,400
$115.4K
Cap Rate 7%
$82,429
$82.4K
Cap Rate 9%
$64,111
$64.1K
Market Conditions
NOI Build-Up for 625 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
$11.0K $17.52/SF
− Vacancy
−$460 −$0.74/SF
EGI
$10.5K $16.78/SF
− OpEx
−$4.7K −$7.55/SF
NOI
$5.8K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$115,400
Cap Rate 7%
$82,429
Cap Rate 9%
$64,111
Alternative Uses
Best Use
Apartment 5plus
$82.4K
$72.1K – $96.2K
NOI $5,770 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.4K
$138.6K – $184.8K
NOI $11,088 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 29572, SC
10,711
Population
14,313
Households
0.7
Avg Household Size
57
Median Age
43%
College-Educated
95%
High-School Grad
8.9 sq mi
ZIP Area
1,203
Density / Sq Mi
$75,388
Median Household Income
$36,121
Median Earnings
$1,148
Median Rent
$385,100
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?
Short term rental property - Furnished one-bedroom condo with ocean views and resort amenities.
Where is this short term rental property located?
The property is located at 6900 N Ocean Blvd. #1040 Myrtle Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $157,000.
What are key features of this property?
This property features: Breathtaking ocean view; Furnished one bedroom condo with capacity for 8 people; Located in the heart of Grand Strand area
