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- 🏢 Myrtle Beach, SC Metro | Multifamily Update – May 8, 2025
🏢 Myrtle Beach, SC Metro | Multifamily Update – May 8, 2025
What Happened in the Last 24 Hours?
Nick Fitzpatrick
May 08, 2025
Good morning – this is your Myrtle Beach Multifamily Daily Update for May 8, 2025, 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:
Actual loan terms will vary based on your credit profile, experience, debt service coverage ratio (DSCR), leverage, and property type.
If you need a lender referral, text 843-957-5989 and I’ll connect you with someone local who understands multifamily financing.
Buyer Type | Loan Product | Rate | Change | Notes |
|---|---|---|---|---|
House Hackers | FHA (3.5% Down) | 6.25% | ↓ 3 bps (DoD) | Lower down payment; tougher on multi-unit FHA deals |
VA (0% Down) | 6.27% | ↓ 3 bps (DoD) | Exclusive to veterans; 100% financing | |
Conventional (5–25% Down) | 6.86% | ↓ 2 bps (DoD) | Owner-occupied, primary residence | |
Investors | Conventional (25% Down, Non-O/O) | 7.11% – 7.36% | ↓ 2–4 bps est. | Add 25–50 bps over owner-occ rates |
DSCR / LLC (Fixed or ARM) | 6.75% – 8.50% | Flat | Based on property cash flow; IO and ARM options available | |
Commercial Buyers | Bank / Portfolio (5–7 Yr Fixed) | 6.37% – 6.87% | 5Y = 3.87% | Rate = 5Y Treasury + spread (2.5–3%) |
Freddie Mac / Fannie Mae (10-Yr) | 6.76% – 7.26% | 10Y = 4.26% | Rate = 10Y Treasury + spread (2.5–3%) | |
Bridge / Debt Fund (Floating) | 8.82% – 11.32% | SOFR = 5.32% | Rate = SOFR + 3.5–6% |
📊 Benchmark Rate Recap
5-Year Treasury: 3.87%
10-Year Treasury: 4.26%
SOFR (Floating Index): 5.32%
Market Overview (Revised)
Active Inventory
Total Listings: 73
Median Asking Price: $899,450
Average Price Per Unit: $225,874
Average Days on Market: 159
Pending Listings
Total Pending Listings: 12
Median Pending Price: $562,000
Average Days on Market (Pending): 200
Note: This data comes from the CCAR MLS.
New Listings (Past 24 Hours)
• Marion (29571) – 2 units listed at $175,000
• Myrtle Beach (29577) – 4 units listed at $425,000
• Myrtle Beach (29577) – 4 units listed at $1,652,211
• Surfside Beach (29575) – 11 units listed at $2,150,000
Please reach out for income #’s, etc for these.
Price Reductions
• Marion (29571) – 6 units dropped from $599,000 to $549,000 (8.3% reduction)
• North Myrtle Beach (29582) – 2 units dropped from $689,000 to $674,900 (2.0% reduction)
Under Contract / Pending Sales
No pending sales today.
Sold Transactions
No sold transactions today.
Thinking of Selling?
🏠 Get a Complimentary Property Evaluation - See what your multifamily property could sell for in today’s market.
📞 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.
📞 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