Beachside Duplex Near
For Sale
$585,000
500 43rd Ave. S, North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size1,736 SF
Price / SF$336.98
Days on Market47
Property Features for 500 43rd Ave. S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17, Inside City Limits
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11E North Myrtle Beach Area--Windy Hill
Standard status
Active
Size
1,736 SF
Building Details
Year built
1970
Number of units
2
Listing Agency:
CRG Homes
(843) 651-8460
Listed By:
Christine Howard · License #12134
(843) 467-8880
Added: Jul 16
Changed: Aug 19
Last Checked: Aug 31 at 2:06PM
MLS# 2617847
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.
This well-maintained duplex, built around 1970, features two separate 2-bedroom, 1-bath units in approximately 1,736 heated square feet. The upstairs unit includes a private balcony, and the property has been updated over the years to support long-term comfort and ownership. In 2025, both HVAC systems were replaced, and the upstairs unit received all-new ductwork. The upstairs unit was refreshed in 2022 with new flooring and paint, while the downstairs unit received new flooring and paint in 2019. Also in 2019, the crawl space was enhanced with new ductwork and a vapor barrier. Additional improvements include new downstairs windows in 2013, a new roof in 2015, and new front and rear exterior staircases installed in 2022.
The duplex is located in North Myrtle Beach, South Carolina, and is described as a short stroll from the Atlantic Ocean. The upstairs unit is currently rented, providing immediate rental income. The property has no HOA and includes a storage shed for additional storage needs.
Buyer is responsible for verifying all details. Square footage is approximate and not guaranteed.
The duplex is located in North Myrtle Beach, South Carolina, and is described as a short stroll from the Atlantic Ocean. The upstairs unit is currently rented, providing immediate rental income. The property has no HOA and includes a storage shed for additional storage needs.
Buyer is responsible for verifying all details. Square footage is approximate and not guaranteed.
Key Highlights
- Duplex built around 1970 with approx. 1,736 heated SF total
- Two units: each offers 2 bedrooms and 1 bathroom
- Upstairs unit includes a private balcony; upstairs is currently rented for immediate income
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
Lease Details
2
Residential units
Multi-tenant
Tenancy
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 - Well-maintained duplex with two 2-bedroom, 1-bath units and recent HVAC, roof, and interior updates.
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: Duplex built around 1970 with approx. 1,736 heated SF total; Two units: each offers 2 bedrooms and 1 bathroom; Upstairs unit includes a private balcony; upstairs is currently rented for immediate income
