Duplex With Vacation-Rental
New
For Sale
$535,000
1505 Edge Dr., North Myrtle Beach, SC 29582
MULTI_FAMILY - North Myrtle Beach, SC
Property Size3,354 SF
Price / SF$159.51
Days on Market2
Property Features for 1505 Edge Dr.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17
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
3,354 SF
Utilities
Utilities
Cable Available
Amenities
laundry room
porches
beach gear
Building Details
Year built
1960
Number of units
2
Listing Agency:
Century 21 Barefoot Realty · Century 21 Real Estate
(843) 390-2121
Listed By:
The Mills Group Team · License #263277
(843) 252-0847
Added: Aug 13
Last Checked: Aug 14 at 6:06AM
MLS# 2620008
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.
Built in 1960, this 3,354-square-foot duplex contains two 4-bedroom, 2-bath units. Each side includes a living area, full kitchen, private outdoor space, and updated furnishings. The property is configured for vacation rentals, with the units available for separate or combined rental. Shared features include a laundry room, porches, and beach gear.
Recent work includes replacement of many windows, refreshed siding, rebuilt porches and stairs, exterior painting, and upgraded HVAC systems. Public beach access is nearby, while restaurants, shopping, entertainment, and North Myrtle Beach attractions are within minutes. Cable is available at the property.
Recent work includes replacement of many windows, refreshed siding, rebuilt porches and stairs, exterior painting, and upgraded HVAC systems. Public beach access is nearby, while restaurants, shopping, entertainment, and North Myrtle Beach attractions are within minutes. Cable is available at the property.
Key Highlights
- Two 4‑bedroom, 2‑bath units in a duplex configuration
- 3,354 square feet of total property size
- Set up for vacation rentals with separate or combined unit rental options
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
$34,259
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
6.40%
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%
$685,180
$685.2K
Cap Rate 7%
$489,414
$489.4K
Cap Rate 9%
$380,656
$380.7K
Market Conditions
NOI Build-Up for 3,354 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
$51.5K $15.36/SF
− Vacancy
−$2.6K −$0.77/SF
EGI
$48.9K $14.59/SF
− OpEx
−$14.7K −$4.38/SF
NOI
$34.3K $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%
$685,180
Cap Rate 7%
$489,414
Cap Rate 9%
$380,656
Alternative Uses
Best Use
Multifamily LT 5
$489.4K
$428.2K – $571.0K
NOI $34,259 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$442.3K
$387.0K – $516.0K
NOI $30,962 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$850.0K
$743.8K – $991.7K
NOI $59,503 @ 7.0% cap · market cap 11.12%
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
581
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately rentable units provide flexible occupancy a few blocks from the ocean and public beach access.
Where is this duplex located?
The property is located at 1505 Edge Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two 4‑bedroom, 2‑bath units in a duplex configuration; 3,354 square feet of total property size; Set up for vacation rentals with separate or combined unit rental options
