Duplex with Ocean
For Sale
$749,000
1202 S Ocean Blvd., North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size2,080 SF
Price / SF$360.10
Days on Market178
Property Features for 1202 S Ocean Blvd.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17, Inside City Limits, Second Row Other
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
2,080 SF
Amenities
central air and heat
ocean views
front and back porches
front and back balconies
laundry room
storage space
Building Details
Year built
1959
Number of units
2
Listing Agency:
GRANDE DUNES PROPERTIES
(843) 692-2323
Listed By:
Lindsay Jones · License #118203
(417) 689-1384
Added: Mar 4
Changed: Aug 19
Last Checked: Aug 29 at 3:06PM
MLS# 2605614
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 second-row duplex in North Myrtle Beach’s Crescent Beach area offers two separate, fully furnished units, each with three bedrooms and two bathrooms. Both units include central air and heat, supporting year-round comfort. The downstairs unit has front and back porches, while the upstairs unit features front and back balconies, creating multiple outdoor spaces for guests or tenants.
The property sits on a rare street-to-street lot and includes a detached building behind the duplex. That detached structure provides a dedicated laundry room with a washer and dryer, along with additional storage space.
Built in 1959, the duplex totals 2,080 square feet and is described as being just steps from the beach, with ocean views.
The property sits on a rare street-to-street lot and includes a detached building behind the duplex. That detached structure provides a dedicated laundry room with a washer and dryer, along with additional storage space.
Built in 1959, the duplex totals 2,080 square feet and is described as being just steps from the beach, with ocean views.
Key Highlights
- Second‑row duplex in North Myrtle Beach’s Crescent Beach section
- Two fully furnished units, each with three bedrooms and two bathrooms
- Central air and heat 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
$21,246
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
2.84%
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%
$424,920
$424.9K
Cap Rate 7%
$303,514
$303.5K
Cap Rate 9%
$236,067
$236.1K
Market Conditions
NOI Build-Up for 2,080 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
$31.9K $15.36/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$30.4K $14.59/SF
− OpEx
−$9.1K −$4.38/SF
NOI
$21.2K $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%
$424,920
Cap Rate 7%
$303,514
Cap Rate 9%
$236,067
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,246 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,201 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
448
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
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Frequently Asked Questions
What type of property is this?
Duplex - Second-row duplex with two fully furnished 3-bedroom, 2-bath units, plus outdoor porches and balconies.
Where is this duplex located?
The property is located at 1202 S Ocean Blvd. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Second‑row duplex in North Myrtle Beach’s Crescent Beach section; Two fully furnished units, each with three bedrooms and two bathrooms; Central air and heat in both units
