Ground-Floor Income
For Sale
$164,500
1890 Auburn Lane 31-f, Myrtle Beach, SC 29575
Two-bedroom condo with direct patio access to a community pool, plus nearby tennis courts and outdoor gathering areas.
Property Size1,000 SF
Price / SF$164.50
Days on Market81
Property Features for 1890 Auburn Lane 31-f
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi-Family
Building Details
Year Built
1988
Listing Agency:
Faith Funderburke Realty LLC
Listed By:
Faith Funderburke · License #78126
(803) 493-4480
Source:
Highperformancerea
Added: Aug 5
Changed: Oct 15
Last Checked: Oct 23 at 12:18PM
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 Faith Funderburke Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This ground-level condominium in Golf Colony IX offers 1,000 square feet with two bedrooms and two bathrooms. Built in 1988, the residence features an open floor plan and patio access, with the community pool, grilling area, and picnic space nearby. Tennis courts are located across the street.
The property is in Myrtle Beach’s Deerfield area, with shopping, restaurants, golf courses, entertainment, and Grand Strand beaches within the surrounding area. Its residential layout and community amenities support use as an income property, second home, or full-time residence, as identified for the property.
The property is in Myrtle Beach’s Deerfield area, with shopping, restaurants, golf courses, entertainment, and Grand Strand beaches within the surrounding area. Its residential layout and community amenities support use as an income property, second home, or full-time residence, as identified for the property.
Key Highlights
- 1,000‑square‑foot ground‑floor condo in Golf Colony IX
- Two bedrooms and two bathrooms
- Built in 1988 with an open floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,231
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,620
$184.6K
Cap Rate 7%
$131,871
$131.9K
Cap Rate 9%
$102,567
$102.6K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$17.5K $17.52/SF
− Vacancy
−$736 −$0.74/SF
EGI
$16.8K $16.78/SF
− OpEx
−$7.6K −$7.55/SF
NOI
$9.2K $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 Rate 5%
$184,620
Cap Rate 7%
$131,871
Cap Rate 9%
$102,567
Alternative Uses
Best Use
Apartment 5plus
$131.9K
$115.4K – $153.9K
NOI $9,231 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.4K
$221.8K – $295.7K
NOI $17,741 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
187
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
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with direct patio access to a community pool, plus nearby tennis courts and outdoor gathering areas.
Where is this residential income property located?
The property is located at 1890 Auburn Lane 31-f Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $164,500.
What are key features of this property?
This property features: 1,000‑square‑foot ground‑floor condo in Golf Colony IX; Two bedrooms and two bathrooms; Built in 1988 with an open floor plan
