Single-Level Duplex with
New
For Sale
$550,000
501 21st Ave. S, North Myrtle Beach, SC 29582
Two separate residences offer distinct living areas, kitchens, and outdoor porch space.
Property Size2,301 SF
Price / SF$239.03
Days on Market3
Property Features for 501 21st Ave. S
General Information
Standard status
Active
Size
2,301 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
front and side porches
washer and dryer hookups
deck
fenced yard
fireplace
Building Details
Year Built
1976
Buildings
1
Stories
1
Listing Agency:
Exp Realty, LLC
(888) 440-2798
Listed By:
Patrick Tole · License #45962
(843) 833-1937
Source:
Pawleysislandproperties
Added: Oct 28
Last Checked: Oct 28 at 7:07AM
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
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Investment Insights
Based on property information with market context.
This 2,301-square-foot duplex contains two single-level residences with a combined four bedrooms and three full bathrooms. The larger unit has two bedrooms and two baths, including an en-suite, plus a kitchen with a breakfast bar and dining area, a living room with a fireplace, and access to a deck and small fenced yard. The second residence provides two bedrooms, one bathroom, an eat-in kitchen, and a living room. Both units have front and side porches, washer and dryer hookups, and two entrances, including one that leads into the kitchen.
Set on a corner lot at 501 21st Ave. S. in North Myrtle Beach, the property is approximately 700 feet from the beach access at 21st Avenue South. Public restrooms are located at that access point. Built in 1976, the duplex has a separate two-unit configuration and a single-level layout.
Set on a corner lot at 501 21st Ave. S. in North Myrtle Beach, the property is approximately 700 feet from the beach access at 21st Avenue South. Public restrooms are located at that access point. Built in 1976, the duplex has a separate two-unit configuration and a single-level layout.
Key Highlights
- 2,301‑square‑foot duplex with two separate units
- Combined four bedrooms and three full bathrooms; unit layouts are two bedrooms/two baths and two bedrooms/one bath
- Approximately 700 feet from the 21st Avenue South beach access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,503
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,060
$470.1K
Cap Rate 7%
$335,757
$335.8K
Cap Rate 9%
$261,144
$261.1K
Market Conditions
NOI Build-Up for 2,301 SF
Gross rent
$35.3K $15.36/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$33.6K $14.59/SF
− OpEx
−$10.1K −$4.38/SF
NOI
$23.5K $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 Rate 5%
$470,060
Cap Rate 7%
$335,757
Cap Rate 9%
$261,144
Alternative Uses
Best Use
Multifamily LT 5
$335.8K
$293.8K – $391.7K
NOI $23,503 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$303.4K
$265.5K – $354.0K
NOI $21,241 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$583.2K
$510.3K – $680.4K
NOI $40,822 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer distinct living areas, kitchens, and outdoor porch space.
Where is this duplex located?
The property is located at 501 21st Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,301‑square‑foot duplex with two separate units; Combined four bedrooms and three full bathrooms; unit layouts are two bedrooms/two baths and two bedrooms/one bath; Approximately 700 feet from the 21st Avenue South beach access
