Over-Under
New
For Sale
$425,000
551 Pine Ave., Murrells Inlet, SC 29576
MULTI-FAMILY, Murrells Inlet, SC
Property Size2,340 SF
Price / SF$181.62
Days on Market3
Property Features for 551 Pine Ave.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Garden City Beach
Lot features
Rectangular, East of Bus. 17, East of Highway 17 Bypass
Elementary school
Seaside Elementary School
Middle school
Saint James Middle School
High school
Saint James High School
Standard status
Active
Size
2,340 SF
Building Details
Year built
1968
Number of units
2
Listing Agency:
Century 21 Barefoot Realty · Century 21 Real Estate
(843) 390-2121
Listed By:
The Mills Group Team · License #17587
(843) 252-0847
Added: Oct 30
Last Checked: Nov 1 at 9:06PM
MLS# 2626444
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.
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Investment Insights
Based on property information with market context.
This over-under duplex contains two separate residences, each with three bedrooms. The combined building area is 2,340 square feet, and the property was built in 1968. No HOA is reported.
The property is in Murrells Inlet, a golf cart ride from the beach. The MarshWalk, waterfront dining, marinas, fishing, golf courses, shopping, and entertainment are also identified among the area’s destinations.
The property is in Murrells Inlet, a golf cart ride from the beach. The MarshWalk, waterfront dining, marinas, fishing, golf courses, shopping, and entertainment are also identified among the area’s destinations.
Key Highlights
- Two separate residences arranged in an over‑under layout
- Each residence has 3 bedrooms; 6 bedrooms total
- 2,340 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,902
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,040
$478.0K
Cap Rate 7%
$341,457
$341.5K
Cap Rate 9%
$265,578
$265.6K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$35.9K $15.36/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$34.1K $14.59/SF
− OpEx
−$10.2K −$4.38/SF
NOI
$23.9K $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%
$478,040
Cap Rate 7%
$341,457
Cap Rate 9%
$265,578
Alternative Uses
Best Use
Multifamily LT 5
$341.5K
$298.8K – $398.4K
NOI $23,902 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$308.6K
$270.0K – $360.0K
NOI $21,601 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$593.0K
$518.9K – $691.9K
NOI $41,513 @ 7.0% cap · market cap 9.77%
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
454
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each of the two residences has three bedrooms, creating a six-bedroom property configuration.
Where is this duplex located?
The property is located at 551 Pine Ave. Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two separate residences arranged in an over‑under layout; Each residence has 3 bedrooms; 6 bedrooms total; 2,340 square feet of building area
