Renovated
For Sale
$539,900
1911 Madison Dr., North Myrtle Beach, SC 29582
Two residential units offer short- and long-term rental options, with NC zoning that also allows some commercial uses.
Property Size1,620 SF
Price / SF$333.27
Days on Market412
Property Features for 1911 Madison Dr.
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi Family Home
Zoning
NC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Building Size
1,620 SF
Year Built
1972
Buildings
1
Units
2
Listing Agency:
Latitude Realty
Listed By:
Nathan Cook · License #90431
(757) 567-5607
Source:
Gabrielfinancial
Added: Sep 8, 2025
Changed: Oct 23
Last Checked: Oct 23 at 4:37PM
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 Latitude Realty
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 1,620-square-foot duplex, built in 1972, contains two units, each with two bedrooms and one bathroom. Recent work includes a replacement roof, fascia and soffits, interior and exterior paint, luxury LVP flooring, kitchen cabinets, quartz counters, stainless steel appliances, and remodeled bathrooms. The grounds have new landscaping, irrigation, sod, and a decorative rock driveway.
The property is on the ocean side of Hwy 17 in North Myrtle Beach, with the Atlantic Ocean a short walk away. NC zoning supports some commercial uses in addition to residential rental use. The units may be rented on a short- or long-term basis.
The property is on the ocean side of Hwy 17 in North Myrtle Beach, with the Atlantic Ocean a short walk away. NC zoning supports some commercial uses in addition to residential rental use. The units may be rented on a short- or long-term basis.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bathroom units
- 1,620 square feet; built in 1972
- Renovations include a new roof, luxury LVP flooring, quartz counters, and stainless appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,547
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,940
$330.9K
Cap Rate 7%
$236,386
$236.4K
Cap Rate 9%
$183,856
$183.9K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$24.9K $15.36/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$23.6K $14.59/SF
− OpEx
−$7.1K −$4.38/SF
NOI
$16.5K $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 Rate 5%
$330,940
Cap Rate 7%
$236,386
Cap Rate 9%
$183,856
Alternative Uses
Best Use
Multifamily LT 5
$236.4K
$206.8K – $275.8K
NOI $16,547 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.3K
NOI $14,955 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$410.6K
$359.3K – $479.0K
NOI $28,740 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
552
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer short- and long-term rental options, with NC zoning that also allows some commercial uses.
Where is this duplex located?
The property is located at 1911 Madison Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bathroom units; 1,620 square feet; built in 1972; Renovations include a new roof, luxury LVP flooring, quartz counters, and stainless appliances
