Furnished Duplex Near
For Sale
$665,000
1508 Hillside Dr. S, North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size3,456 SF
Price / SF$192.42
Days on Market92
Property Features for 1508 Hillside Dr. S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17, Inside City Limits, East of Highway 17 Bypass
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
3,456 SF
Utilities
Utilities
Cable Available
Building Details
Year built
2004
Number of units
2
Listing Agency:
Century 21 Barefoot Realty · Century 21 Real Estate
(843) 390-2121
Listed By:
The Mills Group Team · License #17587
(843) 252-0847
Added: Jun 2
Changed: Aug 27
Last Checked: Sep 1 at 6:06PM
MLS# 2614127
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 2004, this 3,456-square-foot duplex contains two matching residences with a combined eight bedrooms and four bathrooms. Each side offers four bedrooms, two bathrooms, an open living area, full kitchen, pantry storage, updated countertops, durable LVP flooring, and coastal furnishings. The property also includes generous on-site parking and is fully furnished for immediate operational use.
The duplex is located at 1508 Hillside Dr. S in North Myrtle Beach, approximately two blocks from Crescent Beach. Main Street Ocean Drive, Barefoot Landing, Restaurant Row, golf, shopping, entertainment, and dining destinations are within the surrounding area. Short-term rentals are approved, and the property has no HOA restrictions.
The duplex is located at 1508 Hillside Dr. S in North Myrtle Beach, approximately two blocks from Crescent Beach. Main Street Ocean Drive, Barefoot Landing, Restaurant Row, golf, shopping, entertainment, and dining destinations are within the surrounding area. Short-term rentals are approved, and the property has no HOA restrictions.
Key Highlights
- 3,456‑square‑foot duplex built in 2004
- Two mirrored units, each with 4 bedrooms and 2 bathrooms
- Fully furnished interiors with durable LVP flooring
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
$35,301
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
5.31%
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%
$706,020
$706.0K
Cap Rate 7%
$504,300
$504.3K
Cap Rate 9%
$392,233
$392.2K
Market Conditions
NOI Build-Up for 3,456 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
$53.1K $15.36/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$50.4K $14.59/SF
− OpEx
−$15.1K −$4.38/SF
NOI
$35.3K $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%
$706,020
Cap Rate 7%
$504,300
Cap Rate 9%
$392,233
Alternative Uses
Best Use
Multifamily LT 5
$504.3K
$441.3K – $588.4K
NOI $35,301 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$455.8K
$398.8K – $531.7K
NOI $31,903 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$875.9K
$766.4K – $1.02M
NOI $61,312 @ 7.0% cap · market cap 9.22%
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
567
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 - Two mirrored residences provide furnished interiors, full kitchens, on-site parking, and short-term rental approval without HOA restrictions.
Where is this duplex located?
The property is located at 1508 Hillside Dr. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: 3,456‑square‑foot duplex built in 2004; Two mirrored units, each with 4 bedrooms and 2 bathrooms; Fully furnished interiors with durable LVP flooring
