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 Market10
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:
Mackey Realty LLC
(843) 417-0095
Listed By:
The Dream Haven Group
(843) 417-0095
Source:
Dreamhavengroupmb
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 9:03AM
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 Mackey Realty LLC
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 = 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
$6,314
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
3.25%
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%
$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
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
$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 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%
$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.
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
Questions? Ask Rey
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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
