Duplex Near
For Sale
$390,000
406 13th Avenue S, Myrtle Beach, SC 29577
Residential Income, Myrtle Beach, SC
Property Size1,943 SF
Lot Size0.31 Acres
Price / SF$200.72
Days on Market170
Property Features for 406 13th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MUH
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 4
Parking features
Paved or Surfaced
Subdivision
Not In Subdivision
Elementary school
Myrtle Beach
Middle school
Myrtle Beach
High school
Myrtle Beach
Directions
This property is located East of Highway 17 Business in Myrtle Beach. It is located on 13th Ave. S. in Myrtle Beach. Located between Hwy 17 Business and N. Ocean Blvd. in Myrtle Beach.
Standard status
Active
APN
44311040055
Size
1,943 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
WITHERS HTS SECT; LT 3 BL 9
Tax Annual Amount
3325
Legal Description
WITHERS HTS SECT; LT 3 BL 9
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1943
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Composition
Listing Agency:
Berkshire Hathaway Home Services Myrtle Beach Real Estate LLC
(843) 449-9444
Listed By:
Marvin Heyd · License #179006
(843) 267-7623
Added: Apr 9
Changed: Sep 25
Last Checked: Sep 25 at 12:06PM
MLS# 100565926
Copyright © 2026 Hive MLS. 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.
Located at 406 13th Avenue S in Myrtle Beach, this duplex contains 1,943 square feet on a 0.31-acre parcel. The property has wood-frame construction with vinyl siding, composition roofing, central air, and forced-air electric heat. Paved parking, public water, and public sewer serve the site.
The beach is approximately two blocks, or 1,000 feet, away. Zoning is Multifamily High Density (MUH), and short-term rentals are allowed. The existing rental arrangement is month-to-month, with tenants in place since 2007. The property is offered in as-is condition, providing an existing income-producing configuration along with the option to evaluate future multifamily development.
The beach is approximately two blocks, or 1,000 feet, away. Zoning is Multifamily High Density (MUH), and short-term rentals are allowed. The existing rental arrangement is month-to-month, with tenants in place since 2007. The property is offered in as-is condition, providing an existing income-producing configuration along with the option to evaluate future multifamily development.
Key Highlights
- Duplex with 1,943 square feet on a 0.31‑acre lot
- Approximately two blocks or 1,000 feet from the beach
- MUH zoning allows short‑term rentals
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-zoned duplex with month-to-month tenancy and short-term rental allowance.
Where is this duplex located?
The property is located at 406 13th Avenue 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: Duplex with 1,943 square feet on a 0.31‑acre lot; Approximately two blocks or 1,000 feet from the beach; MUH zoning allows short‑term rentals
