Updated Duplex Near Crescent
For Sale
$575,000
404 34th Ave. S, North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size1,742 SF
Price / SF$330.08
Days on Market106
Property Features for 404 34th Ave. S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17, Inside City Limits, East of Highway 17 Bypass
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11C North Myrtle Beach Area--Crescent Beach
Standard status
Active
Size
1,742 SF
Utilities
Utilities
Cable Available
Building Details
Year built
1956
Number of units
2
Listing Agency:
Century 21 Barefoot Realty · Century 21 Real Estate
(843) 390-2121
Listed By:
The Mills Group Team · License #17587
(843) 252-0847
Added: May 18
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 2612739
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1956, this 1,742-square-foot duplex provides two independently accessed levels, with each floor offering 2 bedrooms, 2 full baths, and a separate washer and dryer. The property includes updated bathrooms, newer appliances, and refreshed interior finishes. The lower unit features upgraded cabinetry and granite countertops, while the upper unit is furnished and receives natural light through oversized living room windows. A furnished patio with a gas grill adds outdoor living space.
The property is located in North Myrtle Beach’s Crescent Beach area, approximately 100 steps from the beach. It sits on an oversized lot outside a flood zone and has no HOA. Major improvements include a metal roof installed in 2017 and two HVAC systems replaced in December 2023. Cable is available at the property.
The property is located in North Myrtle Beach’s Crescent Beach area, approximately 100 steps from the beach. It sits on an oversized lot outside a flood zone and has no HOA. Major improvements include a metal roof installed in 2017 and two HVAC systems replaced in December 2023. Cable is available at the property.
Key Highlights
- 1,742‑square‑foot duplex with 2 bedrooms and 2 full baths on each level
- Separate entrances and individual laundry equipment for both floors
- Approximately 100 steps from the beach in Crescent Beach
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
$17,793
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
3.09%
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%
$355,860
$355.9K
Cap Rate 7%
$254,186
$254.2K
Cap Rate 9%
$197,700
$197.7K
Market Conditions
NOI Build-Up for 1,742 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
$25.4K $14.59/SF
− OpEx
−$7.6K −$4.38/SF
NOI
$17.8K $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%
$355,860
Cap Rate 7%
$254,186
Cap Rate 9%
$197,700
Alternative Uses
Best Use
Multifamily LT 5
$254.2K
$222.4K – $296.6K
NOI $17,793 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$229.7K
$201.0K – $268.0K
NOI $16,081 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$441.5K
$386.3K – $515.1K
NOI $30,904 @ 7.0% cap · market cap 5.37%
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
619
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
What type of property is this?
Duplex - Separate entrances serve two living levels, each with bedrooms, full baths, and its own laundry equipment.
Where is this duplex located?
The property is located at 404 34th Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,742‑square‑foot duplex with 2 bedrooms and 2 full baths on each level; Separate entrances and individual laundry equipment for both floors; Approximately 100 steps from the beach in Crescent Beach
