Brick Duplex with Flexible
For Sale
$500,000
526 Boundary Ave., Murrells Inlet, SC 29576
Two well-maintained residences offer separate electric metering, month-to-month tenancy, and permitted short-term rental use.
Property Size2,080 SF
Price / SF$240.38
Days on Market27
Property Features for 526 Boundary Ave.
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1985
Construction
brick
Listing Agency:
Beachconnection Realty
(843) 405-3515
Listed By:
Greg Harrelson
(843) 405-3515
Source:
Gregharrelson
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 26 at 12:39PM
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 Beachconnection Realty
Investment Insights
Based on property information with market context.
Built in 1985, this all-brick duplex contains two residences totaling 2,080 square feet. Each unit includes two bedrooms, two bathrooms, and a generously sized kitchen with substantial cabinet and counter space. Separate electric meters serve the units, while the property shares one water meter. No HOA is associated with the property.
Both units are occupied by established long-term tenants under month-to-month leases. Short-term rentals are permitted, offering an alternative leasing structure for vacation-rental operations. The duplex is positioned near beaches, shopping, dining, and entertainment in the Grand Strand area.
Both units are occupied by established long-term tenants under month-to-month leases. Short-term rentals are permitted, offering an alternative leasing structure for vacation-rental operations. The duplex is positioned near beaches, shopping, dining, and entertainment in the Grand Strand area.
Key Highlights
- Two 2‑bedroom, 2‑bath units within a 2,080‑square‑foot duplex
- All‑brick construction with 1985 build year
- Separate electric meters for each unit; one shared water meter
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
$21,246
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
4.25%
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%
$424,920
$424.9K
Cap Rate 7%
$303,514
$303.5K
Cap Rate 9%
$236,067
$236.1K
Market Conditions
NOI Build-Up for 2,080 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
$31.9K $15.36/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$30.4K $14.59/SF
− OpEx
−$9.1K −$4.38/SF
NOI
$21.2K $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%
$424,920
Cap Rate 7%
$303,514
Cap Rate 9%
$236,067
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,246 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,201 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 29576, SC
32,476
Population
22,097
Households
1.5
Avg Household Size
61
Median Age
32%
College-Educated
96%
High-School Grad
30.5 sq mi
ZIP Area
1,065
Density / Sq Mi
$70,343
Median Household Income
$36,352
Median Earnings
$1,467
Median Rent
$315,700
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 well-maintained residences offer separate electric metering, month-to-month tenancy, and permitted short-term rental use.
Where is this duplex located?
The property is located at 526 Boundary Ave. Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units within a 2,080‑square‑foot duplex; All‑brick construction with 1985 build year; Separate electric meters for each unit; one shared water meter
