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- 🏢 Myrtle Beach Multifamily Update – February 14, 2025
🏢 Myrtle Beach Multifamily Update – February 14, 2025
What Happened in the Last 24 Hours?
Nick Fitzpatrick
February 14, 2025
Good morning – this is your Myrtle Beach Multifamily Daily Update for February 14th, 2024, covering the latest data from the past 24 hours.
Whether you’re actively buying, thinking about selling, or just keeping tabs on the market, this report gives you:
Financing Rates: From FHA, VA, and DSCR to Commercial and Bridge Loans—because most multifamily buyers use financing.
New Listings, Price Reductions, and Pending Deals: So you know what’s moving and how long it’s taking.
Rental Activity: Because rents drive your cash flow.
All data is pulled from the CCAR MLS, Crexi, Loopnet and lending sources as of the past 24 hours.
Let’s get into it:
Debt & Market Pulse
If you're considering investing in multifamily properties along the Grand Strand, here’s the latest on rates and financing options:
Please note that mortgage rates can vary based on individual circumstances and lender offerings. It's advisable to consult with a mortgage professional for the most accurate and personalized information.
Buyer Type | Loan Product | Rate | Change | Notes |
|---|---|---|---|---|
House Hackers (2-4 Units) | FHA (3.5% Down) | 6.45% | ↓ 7 bps (DoD) | Low down payment; lender scrutiny on multi-unit FHA deals |
VA (0% Down) | 6.45% | ↓ 6 bps (DoD) | Exclusive to veterans; 100% financing | |
Conventional (5-25% Down / 30-Yr Fixed) | 7.04% | ↓ 9 bps (DoD) | Owner-occupied, primary residence | |
Investors (2-4 Units) | Conventional (25% Down / 30-Yr Fixed) | 7.29% – 7.54% | ↓ 9 bps (DoD) | Non-owner occupied, investment property |
DSCR (30-Yr Fixed / 5/1 ARM / 7/6 ARM) | 6.75 – 8.5% | Flat (WoW) | LLC loans; cash flow focus; Interest-Only available | |
Commercial Buyers (5+ Units) | Bank / Portfolio (5-7 Yr Fixed) | 6.89% – 7.39% | 5Y Treasury ↑ 2 bps (DoD) | Rates based on 5Y Treasury (4.39%) + Spread (2.5-3%) |
Freddie Mac SBL / Fannie Mae (10-Yr Fixed) | 7.02% – 7.52% | 10Y Treasury ↓ 10 bps (DoD) | Rates based on 10Y Treasury (4.52%) + Spread (2.5-3%) | |
Bridge / Debt Fund (Floating) | 8.82% – 11.32% | SOFR Flat (DoD) | Rates based on SOFR (5.32%) + Spread (3.5-6%) |
Benchmark Rates Recap
5-Year Treasury: 4.39% ↑ 2 bps (DoD)
10-Year Treasury: 4.52% ↓ 10 bps (DoD)
SOFR (Floating Rate): 5.32% Flat (DoD)
Market Commentary
Treasury yields eased today, providing slight relief for long-term fixed-rate loans (e.g., Freddie/Fannie).
FHA, VA, and Conventional rates drifted lower, improving affordability for house hackers and small investors.
DSCR & Bank Loan spreads remain lender-specific, but interest-only and ARM products are increasingly being used to help investors offset higher rates.
Market Overview
Active Inventory (Supply Snapshot)
Total Active Listings: 58
Median Asking Price: $899,450
Average Price Per Unit: $225,874
Average Days on Market: 159
Pending Listings (Demand Snapshot)
Total Pending Listings: 16
Median Pending Price: $562,000
Average Days on Market (Pending): 200
Note: This data comes from the CCAR MLS.
New Listings (Past 24 Hours)
No new listings today.
Price Reductions
No price reductions today.
Under Contract / Pending Sales
Address | City | Type | Price | Units | DOM |
|---|---|---|---|---|---|
6316 Hawthorne Ln. | Myrtle Beach | Apartments | $730,000 | 5 | 43 |
Sold Transactions
No sold transactions today.
Leasing Activity – Residential Housing Stock
Address | City | Type | Rented Price | Original Price | Bedrooms | DOM | Notes |
|---|---|---|---|---|---|---|---|
504 River Oaks Dr. | Myrtle Beach | Condo | $1,200 | $1,400 | 2 | 69 | Unfurnished, 2nd Floor |
5750 Oyster Catcher Dr. | North Myrtle Beach | Condo | $1,500 | $1,650 | 2 | 90 | |
531 Cypress Preserve Circle | Longs | Detached | $1,900 | $2,000 | 3 | 36 | |
2300 Copper Creek Loop | Longs | Detached | $2,200 | $2,300 | 4 | 65 |
Investor Insights
Pending multifamily deal at 6316 Hawthorne Ln. → Shows demand is steady, especially for 5+ unit buildings.
Rents below asking in MLS-leased inventory → Suggests tenants have options; buyers underwriting rental growth should watch this.
Pending deals average 200 DOM → Sellers need patience, but buyers are still stepping in.
Thinking of Selling?
🏠Get a Complimentary Property Evaluation – See what your multifamily property could sell for in today’s market.
đź“ž Call/Text Nick Fitzpatrick at 843-957-5989 or Reply to this email to get started.
Looking to Buy?
🔍 Let’s Find the Right Deal for You – I help investors find on-market and off-market multifamily properties across Myrtle Beach and the Carolinas.
đź“ž Reach out anytime to discuss your goals.
I run this update every weekday because I believe knowing the market is the first step to making smarter investments.
If I can help you buy, sell, or better understand your property’s value—let’s talk.
Best,
Nick Fitzpatrick
Real Estate Broker
NorthGroup Real Estate
SC # 128053 | NC # 339118