Two-Story Duplex with Flexible
New
For Sale
$435,000
613 Surfside Dr., Surfside Beach, SC 29575
The property includes central air, front and side parking, and a balcony accessed from the upper level.
Property Size1,620 SF
Price / SF$268.52
Days on Market3
Property Features for 613 Surfside Dr.
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs repairs
Additional Details
Multifamily Units
2
Amenities
fireplace
washer/dryer hookups
balcony
central air
Building Details
Year Built
1950
Buildings
1
Stories
2
Listing Agency:
Ocean Lakes Properties
(843) 238-3446
Listed By:
The Dream Haven Group
(843) 417-0095
Source:
Dreamhavengroupmb
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 21 at 6:59AM
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 Ocean Lakes Properties
Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex, built in 1950, offers two residential levels with distinct layouts. The lower floor includes two bedrooms, a full bathroom, a living room with fireplace, and an additional bedroom with a half bathroom and exterior entry. Washer and dryer hookups are located on the downstairs porch. Upstairs are two bedrooms, a full bathroom, and two sliding doors opening to a front balcony. Central air and parking at the front and along both sides add practical features.
The property is at 613 Surfside Dr. in Surfside Beach, within walking distance or a short golf cart ride of the Surfside Pier, restaurants, Surfside Drive, and the beach. It is being sold as-is and requires repairs. The layout may support long-term rental use or a residence with additional living space, subject to verification of permitted uses, zoning, rental restrictions, and intended use.
The property is at 613 Surfside Dr. in Surfside Beach, within walking distance or a short golf cart ride of the Surfside Pier, restaurants, Surfside Drive, and the beach. It is being sold as-is and requires repairs. The layout may support long-term rental use or a residence with additional living space, subject to verification of permitted uses, zoning, rental restrictions, and intended use.
Key Highlights
- 1,620‑square‑foot duplex built in 1950
- Lower level includes 2 bedrooms, 1 full bathroom, fireplace, and an additional bedroom with half bath
- Upper level offers 2 bedrooms, 1 full bathroom, and 2 sliders to a front balcony
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
$16,547
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
3.80%
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%
$330,940
$330.9K
Cap Rate 7%
$236,386
$236.4K
Cap Rate 9%
$183,856
$183.9K
Market Conditions
NOI Build-Up for 1,620 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
$24.9K $15.36/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$23.6K $14.59/SF
− OpEx
−$7.1K −$4.38/SF
NOI
$16.5K $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%
$330,940
Cap Rate 7%
$236,386
Cap Rate 9%
$183,856
Alternative Uses
Best Use
Multifamily LT 5
$236.4K
$206.8K – $275.8K
NOI $16,547 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.3K
NOI $14,955 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$410.6K
$359.3K – $479.0K
NOI $28,740 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
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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
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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 - The property includes central air, front and side parking, and a balcony accessed from the upper level.
Where is this duplex located?
The property is located at 613 Surfside Dr. Surfside Beach, SC.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,620‑square‑foot duplex built in 1950; Lower level includes 2 bedrooms, 1 full bathroom, fireplace, and an additional bedroom with half bath; Upper level offers 2 bedrooms, 1 full bathroom, and 2 sliders to a front balcony
