Month-to-Month
For Sale
$390,000
406 13th Ave S, Myrtle Beach, SC 29577
MUH zoning permits short-term rentals, with existing occupants on month-to-month agreements.
Property Size1,943 SF
Price / SF$200.72
Days on Market148
Property Features for 406 13th Ave S
General Information
Standard status
Active
Size
1,943 SF
Property subtype
Multi-Family
Zoning
MUH
Additional Details
Multifamily Units
2
Building Details
Year Built
1943
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway Home Services Myrtle Beach Real Estate LLC
(843) 449-9444
Listed By:
Marvin Heyd · License #13614
Source:
Searchgreateraugustahomes
Added: Apr 4
Changed: Aug 14
Last Checked: Aug 28 at 12:20PM
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 Berkshire Hathaway Home Services Myrtle Beach Real Estate LLC
Investment Insights
Based on property information with market context.
This 1,943-square-foot duplex was built in 1943 and is being offered in its current as-is condition. The property is occupied under month-to-month rental arrangements, providing an existing residential income setup rather than a vacant delivery. Current tenants have remained at the property since 2007 and have expressed interest in continuing their tenancy if possible.
Located at 406 13th Ave S in Myrtle Beach, the property is near the beach. It carries Multifamily High Density (MUH) zoning, which allows short-term rentals. The existing configuration and zoning provide flexibility for continued duplex use, subject to applicable requirements.
Located at 406 13th Ave S in Myrtle Beach, the property is near the beach. It carries Multifamily High Density (MUH) zoning, which allows short-term rentals. The existing configuration and zoning provide flexibility for continued duplex use, subject to applicable requirements.
Key Highlights
- 1,943 SF duplex built in 1943
- Multifamily High Density (MUH) zoning
- Short‑term rentals are allowed
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
$19,847
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
5.09%
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%
$396,940
$396.9K
Cap Rate 7%
$283,529
$283.5K
Cap Rate 9%
$220,522
$220.5K
Market Conditions
NOI Build-Up for 1,943 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
$29.8K $15.36/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$28.4K $14.59/SF
− OpEx
−$8.5K −$4.38/SF
NOI
$19.8K $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%
$396,940
Cap Rate 7%
$283,529
Cap Rate 9%
$220,522
Alternative Uses
Best Use
Multifamily LT 5
$283.5K
$248.1K – $330.8K
NOI $19,847 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$256.2K
$224.2K – $298.9K
NOI $17,936 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$492.4K
$430.9K – $574.5K
NOI $34,470 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
651
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - MUH zoning permits short-term rentals, with existing occupants on month-to-month agreements.
Where is this duplex located?
The property is located at 406 13th Ave S Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1,943 SF duplex built in 1943; Multifamily High Density (MUH) zoning; Short‑term rentals are allowed
