Furnished Side-by-Side
New
For Sale
$400,000
401 28th Ave. S, North Myrtle Beach, SC 29582
Two furnished units offer private outdoor spaces, ocean views, and flexible residential or rental use near the beach.
Property Size1,600 SF
Price / SF$250
Days on Market3
Property Features for 401 28th Ave. S
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
private front porches
ocean views
assigned off-street parking
separate washers and dryers in each unit
private decks
Building Details
Year Built
1977
Listing Agency:
Nexthome The Agency Group Mb
(854) 444-3232
Listed By:
The Dream Haven Group
(843) 417-0095
Source:
Dreamhavengroupmb
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 14 at 8:05AM
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 Nexthome The Agency Group Mb
Investment Insights
Based on property information with market context.
Built in 1977, this 1,600-square-foot side-by-side duplex includes two furnished units with a coastal cottage character. One residence has 2 bedrooms and 1 bath, while the other provides 2 bedrooms and 1.5 baths. Each unit includes a private front porch, separate washer and dryer, and a smaller rear deck. Ocean views and coastal breezes add to the setting.
The property is located at 401 28th Ave. S in North Myrtle Beach, approximately one block from the beach. Rear access and assigned off-street parking support everyday use, while the absence of an HOA provides additional flexibility. The configuration can accommodate owner occupancy with a second unit for rental use, dual leasing, or personal beach lodging.
The property is located at 401 28th Ave. S in North Myrtle Beach, approximately one block from the beach. Rear access and assigned off-street parking support everyday use, while the absence of an HOA provides additional flexibility. The configuration can accommodate owner occupancy with a second unit for rental use, dual leasing, or personal beach lodging.
Key Highlights
- Two‑unit duplex with 1,600 square feet of total space
- Unit mix includes 2 bedrooms/1 bath and 2 bedrooms/1.5 baths
- Both units are furnished and include private front porches
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
$16,343
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
4.09%
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%
$326,860
$326.9K
Cap Rate 7%
$233,471
$233.5K
Cap Rate 9%
$181,589
$181.6K
Market Conditions
NOI Build-Up for 1,600 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
$24.6K $15.36/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$23.3K $14.59/SF
− OpEx
−$7.0K −$4.38/SF
NOI
$16.3K $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%
$326,860
Cap Rate 7%
$233,471
Cap Rate 9%
$181,589
Alternative Uses
Best Use
Multifamily LT 5
$233.5K
$204.3K – $272.4K
NOI $16,343 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$211.0K
$184.6K – $246.2K
NOI $14,770 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$405.5K
$354.8K – $473.1K
NOI $28,385 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
549
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two furnished units offer private outdoor spaces, ocean views, and flexible residential or rental use near the beach.
Where is this duplex located?
The property is located at 401 28th Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,600 square feet of total space; Unit mix includes 2 bedrooms/1 bath and 2 bedrooms/1.5 baths; Both units are furnished and include private front porches
