For Sale
$815,000
Pending
206 30th Avenue North, North Myrtle Beach, SC 29582
Duplexes
Property Size2,828 SF
Days on Market131
Property Features for 206 30th Avenue North
General Information
Standard status
Pending
Size
2,828 SF
Property subtype
Residential / Detached
Zoning
Res
Additional Details
Multifamily Units
2
Amenities
Yes, CentralAir
Central, Yes
Furnished
Dishwasher, Microwave, Range, Refrigerator, Dryer, Washer
2828.0
4
6
WasherHookup
CeilingFans, Furnished, MainLevelPrimary, StainlessSteelAppliances
PublicRecords
Deck, Porch
SmokeDetectors
Raised, Slab
WoodFrame
RearPorch, Deck, FrontPorch
Building Details
Year Built
1981
Tenancy
Multi
Listing Agency:
RE/MAX Southern Shores NMB
Listed By:
Scott Ellis & Ty Bellamy Team
(843) 603-1439
Source:
Compass
Added: May 1
Changed: Aug 25
Last Checked: Sep 7 at 11:47AM
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 RE/MAX Southern Shores NMB
Investment Insights
Based on property information with market context.
Key Highlights
- Duplex at 206 30th Ave North (built 1981) in the Cherry Grove section of North Myrtle Beach
- One block from the beach, offering quick access to Cherry Grove Pier and nearby dining, shopping, and entertainment
- Two identical units, each with 3 bedrooms and 2 bathrooms
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
$28,886
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
3.54%
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%
$577,720
$577.7K
Cap Rate 7%
$412,657
$412.7K
Cap Rate 9%
$320,956
$321.0K
Market Conditions
NOI Build-Up for 2,828 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
$43.4K $15.36/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$41.3K $14.59/SF
− OpEx
−$12.4K −$4.38/SF
NOI
$28.9K $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%
$577,720
Cap Rate 7%
$412,657
Cap Rate 9%
$320,956
Alternative Uses
Best Use
Multifamily LT 5
$412.7K
$361.1K – $481.4K
NOI $28,886 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$372.9K
$326.3K – $435.1K
NOI $26,106 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$716.7K
$627.1K – $836.2K
NOI $50,171 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
300
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
Where is this duplex located?
The property is located at 206 30th Avenue North North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Duplex at 206 30th Ave North (built 1981) in the Cherry Grove section of North Myrtle Beach; One block from the beach, offering quick access to Cherry Grove Pier and nearby dining, shopping, and entertainment; Two identical units, each with 3 bedrooms and 2 bathrooms
