Brick Duplex with Flexible
For Sale
$450,000
526 Boundary Ave., Murrells Inlet, SC 29576
MULTI-FAMILY, Murrells Inlet, SC
Property Size2,080 SF
Price / SF$216.35
Days on Market47
Property Features for 526 Boundary Ave.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17
Elementary school
Seaside Elementary School
Middle school
Saint James Middle School
High school
Saint James High School
Subdivision
27A Garden City Mainland & Pennisula
Standard status
Active
Size
2,080 SF
Utilities
Utilities
Cable Available
Building Details
Year built
1985
Number of units
2
Listing Agency:
Century 21 The Harrelson Group · Century 21 Real Estate
(843) 903-3550
Listed By:
Adam Levy · License #133902
(843) 995-7868
Added: Jul 31
Changed: Sep 3
Last Checked: Sep 15 at 1:06AM
MLS# 2619003
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 2,080-square-foot duplex contains two 2-bedroom, 2-bath residences within an all-brick structure built in 1985. Both units include spacious kitchens with substantial cabinet and counter areas. Separate electric meters serve the residences, while a shared water meter supports the property. There is no HOA, and each unit is occupied by an established long-term tenant under a month-to-month lease.
Short-term rentals are permitted, giving the property both conventional leasing and vacation-rental capability. The duplex is in Murrells Inlet within the Grand Strand, near beaches, shopping, dining, and entertainment. Cable is available at the property.
Short-term rentals are permitted, giving the property both conventional leasing and vacation-rental capability. The duplex is in Murrells Inlet within the Grand Strand, near beaches, shopping, dining, and entertainment. Cable is available at the property.
Key Highlights
- 2,080‑square‑foot duplex with two 2‑bedroom, 2‑bath units
- All‑brick construction completed in 1985
- Separate electric meters; 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
4.72%
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 4.72%
Second Best
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,201 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units, separate electric meters, and month-to-month leases provide flexible rental arrangements.
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 $450,000.
What are key features of this property?
This property features: 2,080‑square‑foot duplex with two 2‑bedroom, 2‑bath units; All‑brick construction completed in 1985; Separate electric meters; one shared water meter
