Two-Unit Duplex with Outdoor
For Sale
$479,000
2705 Edge Dr., North Myrtle Beach, SC 29582
Well-maintained residential income property with flexible month-to-month tenancy and separate outdoor areas for each unit.
Property Size1,748 SF
Lot Size0.18 Acres
Price / SF$274.03
Days on Market50
Property Features for 2705 Edge Dr.
General Information
Standard status
Active
Size
1,748 SF
Lot size
0.18 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1960
Listing Agency:
Edwards & Company
(843) 340-6541
Listed By:
James Edwards · License #14264
Source:
Coastaltidesrealtymb
Added: Jul 11
Changed: Aug 28
Last Checked: Aug 28 at 6:11AM
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 Edwards & Company
Investment Insights
Based on property information with market context.
Built in 1960, this duplex contains approximately 1,748± square feet of heated and cooled living space on a 0.18-acre lot. The property is arranged as two independent residential units, each offering two bedrooms, one full bathroom, a living room, dining area, and equipped kitchen. Outdoor space includes a rear deck serving the first-floor unit and a private balcony for the second-floor unit, along with additional rear yard space and trees.
Both residences are leased under month-to-month agreements, providing an established rental setup with flexibility for future occupancy decisions. The property is located at 2705 Edge Dr. in North Myrtle Beach, near public beach access, shopping, dining, golf, entertainment, schools, medical facilities, and major transportation routes.
Both residences are leased under month-to-month agreements, providing an established rental setup with flexibility for future occupancy decisions. The property is located at 2705 Edge Dr. in North Myrtle Beach, near public beach access, shopping, dining, golf, entertainment, schools, medical facilities, and major transportation routes.
Key Highlights
- Approximately 1,748± heated/cooled square feet
- 0.18‑acre (8,040± SF) lot
- Two (2) separate 2‑bedroom, 1‑bath units
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
$17,855
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
3.73%
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%
$357,100
$357.1K
Cap Rate 7%
$255,071
$255.1K
Cap Rate 9%
$198,389
$198.4K
Market Conditions
NOI Build-Up for 1,748 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
$26.8K $15.36/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$25.5K $14.59/SF
− OpEx
−$7.7K −$4.38/SF
NOI
$17.9K $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%
$357,100
Cap Rate 7%
$255,071
Cap Rate 9%
$198,389
Alternative Uses
Best Use
Multifamily LT 5
$255.1K
$223.2K – $297.6K
NOI $17,855 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$230.5K
$201.7K – $268.9K
NOI $16,136 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$443.0K
$387.6K – $516.9K
NOI $31,011 @ 7.0% cap · market cap 6.47%
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
581
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 - Well-maintained residential income property with flexible month-to-month tenancy and separate outdoor areas for each unit.
Where is this duplex located?
The property is located at 2705 Edge Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Approximately 1,748± heated/cooled square feet; 0.18‑acre (8,040± SF) lot; Two (2) separate 2‑bedroom, 1‑bath units
