Two-Unit Duplex with Separate
For Sale
Contact for pricing
208 4th Ave. N, North Myrtle Beach, SC 29582
Each residence has its own entrance and porch, with beach access and Main Street attractions within walking distance.
Property Size3,000 SF
Price / SF$300
Days on Market138
Property Features for 208 4th Ave. N
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multifamily
Zoning
R4
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Building Details
Year Built
1925
Units
2
Listing Agency:
Rowles Real Estate
(843) 450-2535
Listed By:
Desiree Rowles · License #98125
Source:
Crexi
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 12:35PM
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 Rowles Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 3,000 square feet, with an upper residence and a lower residence. Each unit offers four bedrooms and two bathrooms, along with an independent entrance and its own porch. The property also includes a private backyard and was built in 1925.
R4 zoning supports the property’s residential income configuration. The beach and Main Street are within walking distance, placing restaurants, bars, live music, festivals, golfing, and other seasonal activities nearby. The layout provides two separately accessed residences within one duplex property.
R4 zoning supports the property’s residential income configuration. The beach and Main Street are within walking distance, placing restaurants, bars, live music, festivals, golfing, and other seasonal activities nearby. The layout provides two separately accessed residences within one duplex property.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 2 bathrooms in each residence
- Separate entrances and individual porches for both units
- Approximately 3,000 square feet of total property size
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
$30,643
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
3.40%
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%
$612,860
$612.9K
Cap Rate 7%
$437,757
$437.8K
Cap Rate 9%
$340,478
$340.5K
Market Conditions
NOI Build-Up for 3,000 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
$46.1K $15.36/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$43.8K $14.59/SF
− OpEx
−$13.1K −$4.38/SF
NOI
$30.6K $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%
$612,860
Cap Rate 7%
$437,757
Cap Rate 9%
$340,478
Alternative Uses
Best Use
Multifamily LT 5
$437.8K
$383.0K – $510.7K
NOI $30,643 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$395.6K
$346.2K – $461.6K
NOI $27,694 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 5.91%
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
497
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 - Each residence has its own entrance and porch, with beach access and Main Street attractions within walking distance.
Where is this duplex located?
The property is located at 208 4th Ave. N North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms and 2 bathrooms in each residence; Separate entrances and individual porches for both units; Approximately 3,000 square feet of total property size
