All-Brick
For Sale
$279,950
4559 Tarpon Bay Rd., Myrtle Beach, SC 29579
Two private-entry units with dedicated parking support flexible owner-occupant or rental use.
Property Size1,551 SF
Price / SF$180.50
Days on Market38
Property Features for 4559 Tarpon Bay Rd.
General Information
Standard status
Active
Size
1,551 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1982
Construction
brick
Listing Agency:
Exp Realty LLC
(843) 848-3088
Listed By:
Seth June
(843) 848-3088
Source:
Shjune
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 29 at 9:06AM
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 Exp Realty LLC
Investment Insights
Based on property information with market context.
Built in 1982, this 1551-square-foot duplex features all-brick construction, two private entrances, dedicated parking, and functional floor plans with bright living areas. The property offers separate residential spaces within a straightforward, low-maintenance configuration, with no HOA noted.
Located at 4559 Tarpon Bay Rd. in Myrtle Beach, the duplex sits just off Forestbrook Road with access to Highways 501, 31, and 707. Beaches, shopping, dining, golf courses, healthcare, schools, and other Myrtle Beach attractions are described as minutes away. The layout supports either renting both units or occupying one while leasing the other.
Located at 4559 Tarpon Bay Rd. in Myrtle Beach, the duplex sits just off Forestbrook Road with access to Highways 501, 31, and 707. Beaches, shopping, dining, golf courses, healthcare, schools, and other Myrtle Beach attractions are described as minutes away. The layout supports either renting both units or occupying one while leasing the other.
Key Highlights
- 1551 square feet of duplex space
- All‑brick construction built in 1982
- Two units with private entrances
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
$15,843
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
5.66%
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%
$316,860
$316.9K
Cap Rate 7%
$226,329
$226.3K
Cap Rate 9%
$176,033
$176.0K
Market Conditions
NOI Build-Up for 1,551 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
$23.8K $15.36/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$22.6K $14.59/SF
− OpEx
−$6.8K −$4.38/SF
NOI
$15.8K $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%
$316,860
Cap Rate 7%
$226,329
Cap Rate 9%
$176,033
Alternative Uses
Best Use
Multifamily LT 5
$226.3K
$198.0K – $264.1K
NOI $15,843 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$204.5K
$179.0K – $238.6K
NOI $14,318 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$393.1K
$344.0K – $458.6K
NOI $27,516 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 29579, SC
50,378
Population
24,320
Households
2.1
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
53.0 sq mi
ZIP Area
951
Density / Sq Mi
$72,909
Median Household Income
$39,175
Median Earnings
$1,466
Median Rent
$320,400
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 - Two private-entry units with dedicated parking support flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 4559 Tarpon Bay Rd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $279,950.
What are key features of this property?
This property features: 1551 square feet of duplex space; All‑brick construction built in 1982; Two units with private entrances
