Short-Term Rental Home with
For Sale
$194,000
6001-1611 South Kings Hwy., Myrtle Beach, SC 29575
Vacation home in Ocean Lakes with a private driveway, porch, outdoor shower, and garage/storage area.
Property Size684 SF
Price / SF$283.63
Days on Market57
Property Features for 6001-1611 South Kings Hwy.
General Information
Standard status
Active
Size
684 SF
Property subtype
Land
Additional Details
Multifamily Units
1
Amenities
pools
water slides
lazy river
arcade
playgrounds
volleyball
on-site dining
golf cart parades
year-round activities
24-hour gated security
front porch
outdoor shower
garage/storage area
Building Details
Year Built
2000
Listing Agency:
Nai The Litchfield Company
(843) 979-6754
Listed By:
The Dream Haven Group
(843) 417-0095
Source:
Dreamhavengroupmb
Added: Aug 20
Changed: Oct 15
Last Checked: Oct 14 at 11:24PM
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 Nai The Litchfield Company
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Investment Insights
Based on property information with market context.
This 2000-built home in Ocean Lakes is positioned just steps from the Atlantic Ocean and is set up for short-term rental use. The property includes a front porch, outdoor shower, private driveway, additional parking in front of the home, and a garage/storage area suited to golf cart and beach equipment storage. A documented rental history and future reservations are in place.
Ocean Lakes spans approximately 310 acres along the Atlantic Ocean and offers pools, water slides, a lazy river, arcade, playgrounds, volleyball, on-site dining, golf cart parades, year-round activities, and 24-hour gated security. Short-term rentals are permitted within the community, supporting use as either a vacation home or an income-producing property.
Ocean Lakes spans approximately 310 acres along the Atlantic Ocean and offers pools, water slides, a lazy river, arcade, playgrounds, volleyball, on-site dining, golf cart parades, year-round activities, and 24-hour gated security. Short-term rentals are permitted within the community, supporting use as either a vacation home or an income-producing property.
Key Highlights
- Short‑term rentals permitted within Ocean Lakes
- 2000‑built home with established rental history and future reservations
- Private driveway plus additional parking directly in front of the home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,314
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$126,280
$126.3K
Cap Rate 7%
$90,200
$90.2K
Cap Rate 9%
$70,156
$70.2K
Market Conditions
NOI Build-Up for 684 SF
Gross rent
$12.0K $17.52/SF
− Vacancy
−$503 −$0.74/SF
EGI
$11.5K $16.78/SF
− OpEx
−$5.2K −$7.55/SF
NOI
$6.3K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$126,280
Cap Rate 7%
$90,200
Cap Rate 9%
$70,156
Alternative Uses
Best Use
Apartment 5plus
$90.2K
$78.9K – $105.2K
NOI $6,314 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$173.4K
$151.7K – $202.3K
NOI $12,135 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 29575, SC
18,135
Population
16,761
Households
1.1
Avg Household Size
57
Median Age
33%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$72,029
Median Household Income
$38,182
Median Earnings
$1,234
Median Rent
$278,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Vacation home in Ocean Lakes with a private driveway, porch, outdoor shower, and garage/storage area.
Where is this short term rental property located?
The property is located at 6001-1611 South Kings Hwy. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $194,000.
What are key features of this property?
This property features: Short‑term rentals permitted within Ocean Lakes; 2000‑built home with established rental history and future reservations; Private driveway plus additional parking directly in front of the home
