South Carolina

Why physicians are looking at Myrtle Beach

Myrtle Beach runs on volume: a major leisure destination with deep short-term-rental inventory and the visitor flow to fill it. Properties average about $180/night at 56% occupancy — roughly $101 RevPAR and $3,024 in estimated monthly revenue — on a purchase price near $295,000, one of the most accessible entries into coastal STR ownership anywhere in the Southeast. The demand is proven and liquid; the competition is the deepest in the state. Both facts belong in the underwriting.

The numbers, interpreted

Underwrite this as a hospitality business from day one. The 18.2× GRM and ~3.8% cap describe a fallback long-term profile that's actually respectable for a beach market, but the STR calendar is the real engine — and $3,024/mo gross must fund management, cleaning, platform fees and furnishings before anything nets to you. Treat your first year like residency: the market teaches through reps, so start with one unit, learn its seasonality curve, and scale once your occupancy assumptions survive contact with reality. Up the coast, Pawleys Island offers the quieter, higher-ADR alternative at $215/night on a $425,000 basis, while Charleston SC tops the state at $396/night for triple the entry commitment.

Costs and rules to underwrite

South Carolina keeps carrying costs light: 0.57% property taxes mean roughly $1,680/yr on a $295,000 property. Moderate short-term-rental regulations apply, so verify local rules — zoning districts, licensing and any HOA restrictions, which in a condo-heavy market can matter more than the city code — before you close. Coastal insurance deserves an early, property-specific quote as part of the same diligence pass.

Building your local team in Myrtle Beach

In the state's deepest STR inventory, your local team makes or breaks the investment — differentiation and operations are the whole margin. You want professional STR management that keeps turnovers tight through the summer surge, an investor-focused realtor who knows which buildings and blocks actually book at $180/night, and a furnishing budget treated as capital, not decoration: when guests compare dozens of similar listings side by side, themed properties and standout amenities are what win the click. Dr Home Investor introduces you to vetted local team members — including a Realtor match with boots on the ground — sparing you the blind Google search across a market with hundreds of agents.

Bottom line

Myrtle Beach is the accessible, proven coastal STR: ~$180 ADR, $3,024/mo revenue potential, a $295,000 entry and an unusually solid ~3.8% fallback cap. Its depth of inventory is both the proof of demand and the competitive challenge, so presentation and management carry the return. For a physician's first beach STR, it's the low-tuition classroom. Explore other South Carolina markets to compare the coast's tiers. STR revenue is lumpy, and the write-offs matter — our tax strategies for physician investors covers the short-term-rental loophole physicians ask about most.