Duplex with Intracoastal
For Sale
$299,900
331 Waterside Dr., Myrtle Beach, SC 29577
Flexible two-part layout with private outdoor space, waterfront-community access, and no HOA restrictions.
Property Size1,480 SF
Price / SF$202.64
Days on Market19
Property Features for 331 Waterside Dr.
General Information
Standard status
Active
Size
1,480 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fenced-in backyard
oversized patio
storage shed
boat ramp
ICW views
Building Details
Year Built
1986
Listing Agency:
Century 21 Barefoot Realty
(843) 421-5483
Listed By:
The Mills Group Team · License #17587
Source:
Coastaltidesrealtymb
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 31 at 1:12PM
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 Century 21 Barefoot Realty
Investment Insights
Based on property information with market context.
This duplex property combines a primary residence with a separate secondary living area. The main home offers 3 bedrooms and 2 bathrooms, while the additional space includes 1 bedroom and 1 bathroom. Together, the layout provides 1,480 square feet and can accommodate extended household needs, guests, or a separate rental arrangement.
Outdoor features include a fenced backyard, an oversized patio with access from both sides, a storage shed, and a 2-car garage. The property is located in the Waterside community of Myrtle Beach, with Intracoastal Waterway views and access to a community boat ramp. Built in 1986, the property has no HOA.
Outdoor features include a fenced backyard, an oversized patio with access from both sides, a storage shed, and a 2-car garage. The property is located in the Waterside community of Myrtle Beach, with Intracoastal Waterway views and access to a community boat ramp. Built in 1986, the property has no HOA.
Key Highlights
- Main residence with 3 bedrooms and 2 bathrooms
- Separate 1‑bedroom, 1‑bath living area
- 1,480 square feet with a two‑part residential layout
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
$15,117
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
5.04%
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%
$302,340
$302.3K
Cap Rate 7%
$215,957
$216.0K
Cap Rate 9%
$167,967
$168.0K
Market Conditions
NOI Build-Up for 1,480 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
$22.7K $15.36/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$21.6K $14.59/SF
− OpEx
−$6.5K −$4.38/SF
NOI
$15.1K $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%
$302,340
Cap Rate 7%
$215,957
Cap Rate 9%
$167,967
Alternative Uses
Best Use
Multifamily LT 5
$216.0K
$189.0K – $252.0K
NOI $15,117 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$195.2K
$170.8K – $227.7K
NOI $13,662 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$375.1K
$328.2K – $437.6K
NOI $26,256 @ 7.0% cap · market cap 8.75%
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
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
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 - Flexible two-part layout with private outdoor space, waterfront-community access, and no HOA restrictions.
Where is this duplex located?
The property is located at 331 Waterside Dr. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Main residence with 3 bedrooms and 2 bathrooms; Separate 1‑bedroom, 1‑bath living area; 1,480 square feet with a two‑part residential layout
