Beachside Duplex with Private
For Sale
$585,000
500 43rd Ave. S, North Myrtle Beach, SC 29582
Two-unit property near the Atlantic Ocean with recent system upgrades, separate residences, and no HOA.
Property Size1,736 SF
Price / SF$336.98
Days on Market46
Property Features for 500 43rd Ave. S
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multi-Family
Building Details
Year Built
1970
Listing Agency:
Bh & G Elliott Coastal Living
(843) 438-6959
Listed By:
INNOVATE Real Estate · License #12134
(843) 438-6959
Source:
Darrenwoodard
Added: Jul 18
Changed: Aug 31
Last Checked: Aug 31 at 3:20PM
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 Bh & G Elliott Coastal Living
Investment Insights
Based on property information with market context.
Located at 500 43rd Ave. S in North Myrtle Beach, this duplex contains approximately 1,736 heated square feet across two separate 2-bedroom, 1-bathroom residences. The upstairs unit includes a private balcony with Atlantic Ocean views, while a storage shed provides space for beach equipment and tools. Both HVAC systems were replaced in 2025, and the upstairs system also received new ductwork.
The property has undergone several additional updates. The upstairs residence received flooring and paint in 2022, and the downstairs unit received the same improvements in 2019. The crawl space was improved in 2019 with new ductwork and a vapor barrier. Other work includes downstairs windows added in 2013, a roof installed in 2015, and new front and rear exterior staircases completed in 2022. The upstairs unit is currently rented, and the property has no HOA.
The property has undergone several additional updates. The upstairs residence received flooring and paint in 2022, and the downstairs unit received the same improvements in 2019. The crawl space was improved in 2019 with new ductwork and a vapor barrier. Other work includes downstairs windows added in 2013, a roof installed in 2015, and new front and rear exterior staircases completed in 2022. The upstairs unit is currently rented, and the property has no HOA.
Key Highlights
- Approximately 1,736 heated square feet with two separate residences
- Two 2‑bedroom, 1‑bathroom units
- Upstairs unit includes a private balcony with Atlantic Ocean views
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
$17,732
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
3.03%
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%
$354,640
$354.6K
Cap Rate 7%
$253,314
$253.3K
Cap Rate 9%
$197,022
$197.0K
Market Conditions
NOI Build-Up for 1,736 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
$26.7K $15.36/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$25.3K $14.59/SF
− OpEx
−$7.6K −$4.38/SF
NOI
$17.7K $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%
$354,640
Cap Rate 7%
$253,314
Cap Rate 9%
$197,022
Alternative Uses
Best Use
Multifamily LT 5
$253.3K
$221.7K – $295.5K
NOI $17,732 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$228.9K
$200.3K – $267.1K
NOI $16,026 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$440.0K
$385.0K – $513.3K
NOI $30,798 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
579
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near the Atlantic Ocean with recent system upgrades, separate residences, and no HOA.
Where is this duplex located?
The property is located at 500 43rd Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Approximately 1,736 heated square feet with two separate residences; Two 2‑bedroom, 1‑bathroom units; Upstairs unit includes a private balcony with Atlantic Ocean views
