Furnished Short-Term Rental
For Sale
Contact for pricing
695 Elizabeth Dr, Murrells Inlet, SC 29576
Fully furnished coastal residence with a private pool, elevator, and short-term rental permission.
Property Size4,158 SF
Price / SF$258.54
Days on Market217
Property Features for 695 Elizabeth Dr
General Information
Standard status
Active
Size
4,158 SF
Class
A
Elevators
Yes
Property subtype
Hospitality, Mixed Use
Units
Unit Mix
1 x 5BR/5.5BA
Multifamily Units
1
Additional Details
Furnished
Yes
Amenities
private pool
fully equipped kitchen
stainless steel appliances
smart TVs
washer/dryer
fenced backyard
Building Details
Year Built
2023
Buildings
1
Stories
3
Units
1
Listing Agency:
Realty ONE Group Dockside
(843) 907-1264
Listed By:
Jim Neely · License #SC 41305
Source:
Crexi
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 8:35PM
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 Realty ONE Group Dockside
Investment Insights
Based on property information with market context.
Built in 2023, this 4,158-square-foot furnished residence is arranged across three levels with five bedrooms and 5.5 bathrooms. Every bedroom has a private en-suite bath, while the primary suite adds a king bed, covered balcony, walk-in tiled shower, double vanity, and walk-in closet. An elevator serves all floors. The kitchen is equipped with granite countertops, a farmhouse-style sink, extensive cabinetry, and stainless-steel appliances. The home also includes six smart TVs and a Samsung washer and dryer.
Outdoor features include a fenced backyard, tropical palms, and a private pool. The residence accommodates up to 16 guests, and short-term rentals are allowed without an HOA. It is located at 695 Elizabeth Dr in Murrells Inlet, approximately 0.4 mile from the beaches of Garden City and one block from Sanford D. Cox Community Park. Restaurants, shops, fishing, and entertainment are also nearby.
Outdoor features include a fenced backyard, tropical palms, and a private pool. The residence accommodates up to 16 guests, and short-term rentals are allowed without an HOA. It is located at 695 Elizabeth Dr in Murrells Inlet, approximately 0.4 mile from the beaches of Garden City and one block from Sanford D. Cox Community Park. Restaurants, shops, fishing, and entertainment are also nearby.
Key Highlights
- 4,158‑square‑foot home built in 2023
- Five bedrooms, 5.5 bathrooms, and sleeping capacity for 16
- Private pool within a fully fenced backyard
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
$38,384
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
3.57%
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%
$767,680
$767.7K
Cap Rate 7%
$548,343
$548.3K
Cap Rate 9%
$426,489
$426.5K
Market Conditions
NOI Build-Up for 4,158 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
$72.8K $17.52/SF
− Vacancy
−$3.1K −$0.74/SF
EGI
$69.8K $16.78/SF
− OpEx
−$31.4K −$7.55/SF
NOI
$38.4K $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%
$767,680
Cap Rate 7%
$548,343
Cap Rate 9%
$426,489
Alternative Uses
Best Use
Apartment 5plus
$548.3K
$479.8K – $639.7K
NOI $38,384 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$922.1K – $1.23M
NOI $73,766 @ 7.0% cap · market cap 6.86%
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
352
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
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 - Fully furnished coastal residence with a private pool, elevator, and short-term rental permission.
Where is this short term rental property located?
The property is located at 695 Elizabeth Dr Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 4,158‑square‑foot home built in 2023; Five bedrooms, 5.5 bathrooms, and sleeping capacity for 16; Private pool within a fully fenced backyard
