Investment Property Real Estate Agents in Myrtle Beach

Myrtle Beach is a bifurcated investment market, and buying in the wrong segment without understanding the split is the single most common mistake. The condo market is materially oversupplied: 7.1 to 8.6 months of inventory as of summer-fall 2025, up 22-34% year over year. Average days on market for condos run 119 to 152 days. Condo median sale prices fell 6.8%, from $236,000 to $220,000. The single-family and townhome market is tighter, at 3.8 to 4.8 months of supply with more stable pricing. Price per square foot across all property types fell 8.1% year over year as of January 2026, and supply is up 37.65% overall. Do not underwrite condo purchases on price appreciation assumptions in this environment. Focus on current yield. STR regulations are the next major variable. Within Myrtle Beach city limits, short-term rentals (defined as rentals under 90 days) are prohibited in all residential R-zones. Only commercial zones and RMV (Residential Multifamily Visitor) zones allow STRs. In April 2024, the city enacted a law banning STR-to-long-term-rental conversions in designated visitor zones, citing $2.48 million in revenue loss per 1,000 conversions. North Myrtle Beach, a separate city, added a new annual permit requirement effective August 2025 that includes physical inspections for safety and parking compliance, plus a Responsible Local Agent requirement: an agent available 24/7 who can arrive within one hour (property owners within 30 miles may serve as their own). HOA rules in many buildings restrict STR activity independently of city zoning; always verify HOA documents before purchase. Gross income on oceanfront condos in approved zones ranges from $27,500 to $52,700 per year, with a 2BR oceanfront example grossing $52,700 before management fees of 15-20%. After management, HOA, insurance, and taxes, net cap rates on oceanfront condos typically land at 5-6%. For long-term rental investors, Myrtle Beach produces gross yields of roughly 8-9% on median-priced properties ($253,000 to $274,000 range, with 2BR rents of $1,610 to $1,768 per month), compressing to estimated 5-7% net cap rates after HOA, insurance, management, and taxes. Coastal flood zone insurance is the most variable cost: VE and AE zone oceanfront properties can carry $10,000 or more per year in flood insurance alone, plus separate wind and hurricane premiums. Horry County property taxes for investment properties (6% assessment ratio) at a $300,000 purchase price run approximately $3,623 per year using the combined county and city millage of 241.5 mills. South Carolina's investor-friendly legal framework offsets some of that: no rent control, no state capital gains tax, no transfer tax on property sales, and a 45-day identification and 180-day close 1031 exchange window that defers both federal and SC capital gains.

With a median home price of $320,000 and homes spending an average of 97 days on market, Myrtle Beach is a market where preparation and pricing are key. A investment property specialist who knows the local landscape can make a meaningful difference in your outcome.