St. Clement’s Suites, Myrtle Beach – An Investor’s Oceanfront Condo Guide

St. Clements’ iconic “pink building” stands 8 stories tall on Myrtle Beach’s Golden Mile. This boutique oceanfront condo-hotel offers a mix of efficiency studios, one-bedroom suites, and a unique 3-bedroom penthouse, all with private balconies and coastal views.

Property Overview: Layouts & Location

St. Clement’s Suites is part of the Caravelle Resort complex at 201 70th Ave N in Myrtle Beach’s desirable north end (known as the “Golden Mile”). The round, pink exterior and pie-shaped units make it a local landmark. There are approximately 70 individually-owned condos across 8 floors, each fully furnished for vacation use. Key unit types include:

• Efficiency Units (Studios): Open-plan units (~450–500 sq ft) with a kitchenette, two double beds, and a sleeper sofa. These have an oceanfront balcony and can sleep 4. Studios function as hotel-style rooms (no separate bedroom) and are popular for couples or small families on a budget.

• One-Bedroom Suites: True 1BR condos (~550 sq ft) featuring a private bedroom (often with a queen or full bed) plus additional beds or a sleeper sofa in the living area. Most 1BRs sleep up to 6 guests comfortably. They include a full kitchen and a living/dining area. Some 1BR units are direct oceanfront, while others are angled oceanview – the oceanview units still offer balcony vistas of the shoreline but at a lower price point.

• Penthouse 3BR Suite: A singular 3-bedroom, 2-bath penthouse occupies the top level. This spacious unit (the largest in the building) features a primary bedroom with a king bed, a second bedroom with twins, and a third with kid-friendly beds. It boasts multiple balconies with panoramic oceanfront views. The 3BR can accommodate 8+ guests, making it ideal for larger family groups – a rare find in a boutique building like St. Clements.

Building Amenities: St. Clements has its own oceanfront swimming pool and sun deck, as well as the popular St. Clement’s pool bar & grill on the ground level. Owners and guests also enjoy access to free Wi-Fi, on-site laundry, and an elevator. Uniquely, because St. Clements is part of the Caravelle Resort, owners who join the on-site rental program unlock access to the broader Caravelle amenities (such as the main resort’s water park, lazy river, and fitness center). This dual benefit means you get a quieter “boutique” building atmosphere, yet (if you opt in) can advertise big-resort perks to renters.

Oceanfront vs. Oceanview: All St. Clements units have some degree of ocean view, but oceanfront condos directly face the beach and command premium rates. Oceanview units are angled or side-facing; they still feature balcony views of the ocean, just not the 180° direct vista. From an investment standpoint, oceanfront units typically yield higher rental income due to their wow-factor views, whereas oceanview units might be acquired at a lower price. It’s a trade-off between upfront cost and nightly rates – but even the “side” units benefit from being in an oceanfront building (just steps to the sand).

2023–2024 Rental Performance on Airbnb/VRBO

Short-term rental demand at St. Clements has been strong coming out of the pandemic travel boom. In 2023, Myrtle Beach’s average occupancy rate was about 56% for short-term rentals with an average daily rate (ADR) around $248. St. Clements units tend to track close to these averages, with some variations by unit type and season:

• Efficiency Studios: These smaller units are affordable for renters, which helps keep occupancy high (≈60–65% annually). In peak summer months (June–August) studios often run 90%+ occupied, while winter may drop below 20%. The ADR ranges from $50–$80/night in the winter up to $150–$200/night in July. Over a full year, studios at St. Clements gross roughly $18,000–$25,000 in rental revenue on platforms like Airbnb/VRBO, depending on how aggressively they’re marketed. Well-managed studios have achieved around $20–$30K gross. After expenses, this typically nets perhaps $8–$15K (more on net profits later).

• 1-Bedroom Suites: The one-bedroom units are the workhorses of this building, appealing to families up to 6 people. Their annual occupancy is similar (55–60% range), but ADR is higher than studios. Summer nightly rates for 1BR oceanfront suites can hit $200–$250 (especially weekends), while shoulder seasons average ~$100–$150, and winter might be $60–$80. Annual gross income for a 1BR at St. Clements in 2023 was often in the $22,000–$30,000 range. Mid-tier performers gross in the mid-$20Ks, while a top-performing 1BR can top $30K. (For context, a comparable 1BR in the Caravelle main tower grossed $45,000 in a recent year – St. Clements 1BRs might not reach quite that peak without the waterpark amenity, but mid-$30Ks is achievable in a strong travel year.) With diligent marketing and hosting, owners have seen ~55-60% occupancy and $25K+ annual revenue on their 1BR condos.

• 3BR Penthouse: The penthouse is one-of-a-kind, so its performance is more individualized. It commands premium rates – in peak summer 2024 it could fetch $300–$400+ per night given its size and panoramic views. Larger groups often book it for a week, so summer occupancy can be excellent (several multi-thousand-dollar weeks). However, off-season demand for a 3BR can be softer (fewer large groups travel in winter), so annual occupancy might be ~50%. We estimate the 3BR could gross $40,000–$55,000 per year with savvy marketing – especially if capturing snowbird rentals in winter (e.g. renting a month or two to retirees at ~$2,000/mo in the off-season). Net income margin on the penthouse can be strong since many fixed costs (HOA, insurance) aren’t proportionally much higher than a 1BR, but there are higher cleaning and upkeep costs for the larger space.

Seasonality: Myrtle Beach is highly seasonal. Summer (Memorial Day through Labor Day) generates the majority of annual income. Smart owners make 60–70% of their revenue in those prime months. The spring and fall shoulder seasons still see decent weekend traffic (festivals, golf trips, etc.), and offering slightly lower rates then can boost occupancy. Winter (Nov–Feb) is the slowest – expect deep discounts or monthly “snowbird” tenants. Overall, St. Clements owners in 2023 enjoyed a slight uptick in occupancy and ADR versus 2022, though the market is normalizing after the 2021 travel surge. For planning, it’s prudent to underwrite at ~55% occupancy and moderate ADR, then optimize to outperform those figures.

Rental Income Examples: To illustrate, a well-managed 1BR oceanfront unit in 2024 might have an average occupancy of 60% at a blended ADR of $120. That yields ~$26,000 gross for the year (close to the Myrtle Beach average of $26.4K). A more aggressive host using dynamic pricing might push ADR to $140 but accept 50% occupancy – yielding ~$25,500 (a similar result). It’s a balance: higher rates tend to lower occupancy, but don’t always increase total revenue if priced too high. Many hosts experiment to find the sweet spot where RevPAR (revenue per available night) is maximized.

Platform Mix: About half of Myrtle Beach STR owners list on both Airbnb and Vrbo (and others). Diversifying listing channels can increase bookings. Direct bookings or repeat renters can also boost performance (some St. Clements owners build an email list of past guests). The bottom line is that with the right approach, even the smaller St. Clements units can generate solid cash flow relative to their purchase price – and the large penthouse, while unique, can produce income more akin to a beach house rental if managed effectively.

HOA Fees, Inclusions & Policies

Every St. Clements owner pays a monthly Homeowners Association (HOA) fee that covers the building’s upkeep and many utilities. As of 2024, the HOA dues are roughly $550 per month for the 1BR and efficiency units (the 3BR penthouse may be higher due to its size). This HOA fee includes water and sewer, trash pickup, cable TV, building insurance (hazard and flood), and common area maintenance. High-speed Wi-Fi is also provided property-wide. Notably, electricity for each unit is metered separately – unlike some high-rise resorts, St. Clements does not include in-unit electric in the HOA (so owners pay their own unit’s power bill). The HOA does cover building insurance but owners should carry an HO-6 condo insurance policy for interior contents and liability.

Rental Policies: St. Clements is a condotel, so short-term rentals are allowed without any minimum stay restrictions by the HOA. Both nightly and weekly rentals are common, and many units are marketed on Airbnb/VRBO as discussed. There is no requirement to use the on-site rental management – owners are free to self-manage or use an outside agency if they prefer (we will compare these options in the next section). If an owner does choose the Caravelle Resort on-site rental program, an added perk is that their guests (and the owner) gain access to all Caravelle Resort amenities (like the larger pool complex, fitness room, etc.) which can make the unit more attractive to renters. Owners who self-manage or use third-party managers can still use the St. Clements pool and bar on-site (since those are part of the building), but their guests generally cannot use the main Caravelle amenities. This policy incentivizes participation in the on-site program but does not prohibit independent renting.

Pet Restrictions: Like most Myrtle Beach resorts, pets are not allowed for renters at St. Clements. The HOA bylaws prohibit vacation renters from bringing pets to maintain cleanliness and avoid potential damage or allergies. Owner pets are sometimes allowed under HOA rules (with restrictions such as owners only, and possibly size limits), but this can vary – currently, there is no public indication that St. Clements HOA permits owners to have pets on site, so potential buyer-owners should verify the latest pet policy if that is important to you. Assume it’s a no-pet building for renters, which is standard for oceanfront condotels. Service animals, of course, must be accommodated per ADA guidelines.

HOA Financials and Assessments: The HOA is managed (historically by an association management company, possibly RAM Resorts given Caravelle affiliation). Regular HOA dues have remained in the $500s per month, which is relatively moderate for an oceanfront Myrtle Beach condo (for comparison, the Boardwalk Resort’s HOA is about $707/month and Ocean Dunes Tower’s is a hefty ~$1,413/month). St. Clements has had occasional special assessments to fund capital improvements. For example, owners were assessed in 2022 for building updates – likely for exterior repairs or common area renovations (the exact figures per unit were modest, possibly a few hundred dollars, indicating a small-scale project). It’s wise for investors to budget an allowance for periodic special assessments in older oceanfront buildings. On the positive side, a TripAdvisor review noted that with “$33,000 a month in HOA fees” coming in (e.g. ~$550 × ~60 units), the building should have solid reserves for maintenance. Recent upgrades have included new exterior paint and common area refurbishments, preserving the building’s appeal. Always review the HOA financial statements and reserve study during due diligence to ensure the association is healthy.

Other Policies: St. Clements allows both short-term and long-term rentals (some owners do monthly winter rentals or 6-12 month leases in rare cases). Parking is on-site in a surface lot; each unit typically gets 1 parking pass (the 3BR may get 2). The property is not in a flood zone requiring additional owner flood insurance (the HOA’s master policy covers the structure). Being inside Myrtle Beach city limits, local short-term rental regulations (like business license and accommodations taxes) apply, but there are no additional city rental restrictions beyond those (Myrtle Beach is very STR-friendly overall).

Self-Management vs. Resort Management vs. Third-Party: Net Profitability

One of the most important decisions for an investor is how to manage rentals. St. Clements owners have three primary options: self-managing (DIY), hiring a third-party management company, or using the on-site Caravelle Resort rental program. Each comes with different costs that significantly impact net income. Let’s break down the typical net profitability differences:

Self-Management (Airbnb/VRBO by Owner)

Overview: You (or your team) handle marketing (listing on Airbnb, Vrbo, etc.), guest communication, cleaning coordination, and upkeep. This is the hands-on approach, but it often yields the highest net income percentage because you’re not paying big commissions.

Costs: Airbnb and Vrbo charge around 3% host fee on bookings, which is minimal. You’ll likely pay a cleaner a flat fee per turnover (which guests usually pay as a separate cleaning fee on the booking – so cleaning is typically a pass-through expense). There will be costs for supplies, occasional maintenance, and perhaps software tools (like pricing apps or channel managers).

Net Income Example: Suppose a 1BR grosses $25,000/year in bookings. Platform fees (3%) would be about $750, leaving $24,250. Subtract operating expenses (cleaning, restocking, minor repairs – much of which is covered by guests’ cleaning fees and a small portion of the rental rate for incidentals). Your biggest fixed costs then are HOA ($6,600/year) and property taxes/insurance (say ~$1,500–$2,000). So, out of $25K gross, a self-managing owner might net on the order of $15,000–$17,000 before any mortgage. That’s roughly 60%+ of the gross that ends up as net operating income to the owner – a strong margin.

Pros: Maximum control over pricing and guest screening, ability to adjust quickly to market demand, and you keep the lion’s share of revenue. Many self-managing owners also cite that they can give a more personal touch, earning better reviews (which lead to more bookings). Plus you save the hefty management commissions.

Cons: It’s a active business – expect to field inquiries at dinner and handle the occasional 2am call about a minor issue. You’ll need reliable local cleaning and maintenance contacts since you may not be on-site. Essentially, you’re trading your time and effort for higher income. For investors who live locally or don’t mind being “hands-on remote hosts,” this can be very rewarding financially. For others who want pure passive income, it may be too involving.

Third-Party Vacation Rental Management

Overview: There are many local and national property managers (Vacasa, Evolve, local realty companies like Elliott Realty, etc.) that will manage your condo’s short-term rentals for a commission (typically 20–30% of gross rent). They handle listings, marketing, guest services, cleaning coordination, and often minor maintenance.

Costs: ~25% of gross revenue as a management fee is common in Myrtle Beach. Some companies charge a bit less or a flat monthly fee, but 20-30% is a good rule. Sometimes cleaning fees are passed to guests (as with self-management) – the manager just coordinates the cleaner and ensures quality, potentially charging a small admin fee on cleaning.

Net Income Example: Using the same $25,000 gross example for a 1BR, a 25% management fee would cost $6,250. That leaves $18,750. After HOA ($6,600) and taxes/insurance (~$1,500), net might be around $10,000–$11,000. In other words, roughly 40% of gross ends up as your net income. This is lower than self-managing, but you’ve bought back your time.

Pros: Far less day-to-day involvement. A good manager will optimize pricing, handle guest issues, and maintain the property, sending you a check each month. This is attractive to out-of-state owners or those who prefer a passive role. You can still use your condo for personal time (coordinate with the manager on blocking dates).

Cons: The commission significantly eats into profits. You must vet the management company’s reputation – do they actually earn higher rents to justify their fee? Also, you lose some control (e.g. the manager might rent to a spring-break group you might have declined, etc.). There can be hidden costs (maintenance upcharges, etc.), so read the contract carefully. Still, many investors find a good third-party manager can net them ~10% cap rate on these units without the headache of self-management – a fair trade.

On-Site Resort (Caravelle Rental Program)

Overview: Owners can join the Caravelle Resort’s in-house rental program, wherein the resort’s team rents out your unit along with their hotel rooms. They handle everything – marketing on the resort’s website/800-number, front desk check-in, housekeeping, and maintenance.

Costs: On-site programs typically have the highest commission split. While exact terms can vary, many Myrtle Beach resort programs take around 40%–50% of the gross rental revenue as their fee (and sometimes charge credit card fees on top). For example, it’s not uncommon that the owner gets 50% and the resort gets 50% of the rent collected (before taxes). The resort may also charge for deep cleans or unit marketing fees. The benefit is they truly turnkey-manage it like a hotel room.

Net Income Example: Again with $25,000 gross: if the split is 50/50, the owner’s share is $12,500. Subtract HOA $6,600 and other fixed costs ~$1,500, and net to owner might be only $4,400. However, note that the resort’s rental program might generate a different gross than you would on Airbnb – sometimes higher occupancy but at lower nightly rates (they often run promotions/packages). Let’s say the resort rents it for a bit less and grossed $22,000, the owner’s 50% would be $11,000, and net after HOA/etc. maybe ~$3,000–$4,000. It’s clearly the lowest-profit route in pure numbers.

Pros: It’s as hassle-free as it gets. The on-site staff handles everything: finding guests, handing over keys (or keycards), cleaning the unit, doing maintenance, and even replacing furnishings as needed (often for an extra charge). You essentially own it and collect a check. Importantly, by being on the Caravelle program, your guests have full access to all Caravelle amenities (water park, fitness, game room, etc.), which can allow the resort to charge higher rates or attract more bookings for your unit. You also get to use the amenities as an owner. Additionally, some owners like that the front desk is there to watch over the unit (added security and on-the-spot service).

Cons: The cost is huge in terms of revenue share. Also, you might not be able to personalize the rental process – the resort will market it under their brand, and your unit might just be “another room” to them. Quality of cleaning and maintenance can vary (some on-site programs have been criticized for not keeping units in top shape unless owners push for it). There’s also often a requirement that your unit meet certain furnishing standards to stay in the program (e.g. uniform furniture package, specific color schemes) – which could mean an upfront cost to convert or periodic upgrades mandated. In terms of pure dollars, on-site management usually yields the lowest net income for the owner. It’s truly for those who value zero stress over maximizing income.

Which to Choose?

It ultimately depends on your situation and goals:

• First-time investors or local owners often start with self-management to maximize returns. With some effort, you can save tens of thousands in fees. If you have the time and willingness to learn the STR business, this yields the highest ROI. Many enjoy the process of being an Airbnb host and treat it like a small business.

• Hands-off investors or those out-of-town might lean toward a trusted third-party manager. This can strike a balance – you still get significantly better splits (~70-80% to owner) than the on-site program’s 50%, and your manager is actively trying to get top-dollar on Airbnb/Vrbo for you. Be sure to compare track records and fees; a difference of even 5% in commission is meaningful on your bottom line.

• Those prioritizing convenience or who want to utilize the resort branding will opt for the on-site program. If your strategy is to hold the condo as a semi-personal vacation home and you’re happy if rentals just offset costs, the resort program might suffice. It’s also worth considering if access to the Caravelle’s full amenities significantly boosts your bookings (e.g. in a 1BR that targets families with kids who want the water park). Just go in with clear eyes about the net income. Many owners treat on-site-managed units as more of a “lifestyle asset” – the rental income helps pay expenses, but it’s not all about maximum cash flow.

Tip: You aren’t locked in forever. Some investors try the on-site program for a year for the ease of it, then switch to self-managing once they get familiar with the process and realize they could earn more. Just be mindful of any contract term with the resort (many require notice to leave the program, often at year-end). The condo-hotel nature means you have these flexible options – you can even move between management options over time as your needs change.

Airbnb/VRBO Optimization Strategies for St. Clements

No matter which management route you choose, understanding how to optimize short-term rental performance will help you succeed. If you self-manage, these strategies are in your hands; if you hire a manager, you can ensure they are employing similar tactics for your unit. Here are some proven strategies tailored to St. Clements and the Myrtle Beach STR market:

• High-Impact Photography & Staging: In a building where many units have similar floor plans, presentation is everything. Invest in professional photos that highlight your unit’s best features – the ocean view from the balcony, a bright and beachy interior, and any recent upgrades. Make sure one of the first photos shows the ocean or the pool to grab attention. Consider small cosmetic upgrades like modern bedding, coastal-themed décor, or even a feature wall, so your listing looks fresh. A well-furnished condo with a contemporary, inviting style will stand out against older-looking competitors (and can justify a higher ADR).

• Optimize Listing Titles & Descriptions: Use the title to sell the unique aspects of your unit: e.g. “Oceanfront Penthouse w/ Huge Balcony – St. Clements (Caravelle)” or “Modern Studio in the Pink Building – Oceanfront Pool & Bar!”. Mention St. Clements by name (it has a bit of brand cachet due to the distinctive building), and highlight Caravelle amenities if applicable (“access to water park” – but only if on the program). In the description, paint a picture of the experience – the sunrise coffee on the balcony, the on-site beach bar for afternoon cocktails, the quiet stretch of beach out front. Also list practical perks: free parking, full kitchen, Wi-Fi, smart TV, etc., and note the proximity to attractions (e.g. “10 minutes to Broadway at the Beach”). A detailed and enticing description helps convert lookers to bookers.

• Dynamic Pricing and Stay Requirements: Myrtle Beach has very high and very low seasons, so use a dynamic pricing tool or at least manually adjust rates to capture demand. For example, maximize rates around 4th of July and big summer weekends, and be more aggressive with discounts in the winter to snag snowbirds. During peak summer, consider requiring a 3-4 night minimum or even weekly bookings – this can reduce turnover costs and attract family vacationers who plan week-long stays. In the off-season, drop to 1-2 night minimums to capture weekend getaway folks. Keep an eye on local event calendars (bike weeks, festivals, sports tournaments) – these can spike demand even in shoulder seasons. Price accordingly.

• Maximize Occupancy in Off-Season: The winter months will make or break your annual occupancy average. To boost income then, target monthly renters (e.g. via specialized sites or the monthly rates feature on Airbnb). A northern “snowbird” might be thrilled to rent your 1BR for $1,200/month for Jan–Feb, which is better than sitting empty. Also, consider traveling nurses or other off-season extended stays. Ensure your listing is on off-season friendly platforms or settings (Airbnb allows longer stay discounts, etc.). Even offering, say, a 50% monthly discount for 30+ nights in winter can attract bookings that cover your HOA and then some during the slow period.

• Guest Experience = Reviews = More Bookings: Especially as a new host, focus on getting great reviews. Little touches go a long way at St. Clements: leave a welcome basket (maybe a few snacks or a local saltwater taffy treat), a binder with local restaurant menus/recommendations, and clear instructions for the Wi-Fi, smart TV, etc. Since there is no daily maid service (unless on the resort program), ensure your cleaner stocks ample towels, toiletries, and starter supplies. Prompt communication is key – respond to inquiries quickly (Airbnb search ranking rewards fast response times). After check-in, a friendly message asking if all is well (and solving any issue immediately) can prevent a bad review. Superhost status (achieved by high ratings and low cancellation rate) will boost your listing in search results, leading to higher occupancy. Given Myrtle Beach’s competitive STR market, being an attentive host can set you apart.

• Leverage the “Caravelle” Connection (if applicable): If you are on the resort’s rental program or if you simply want to mention it, leverage the Caravelle name in marketing. Some owners list on Vrbo with headlines like “St. Clements at Caravelle – Oceanfront 1BR, access to all amenities!”. Renters recognize resort names. However, be careful to only promise what you can deliver: if you’re not in the on-site program, don’t advertise access to the main Caravelle pools or gym. Instead, focus on what is included: the St. Clements oceanfront pool and bar, plus the quieter atmosphere of a low-rise building. Some guests prefer that vibe over a mega-resort – play to those strengths (e.g. “no crowded elevators or parking garages here!”).

• Competitive Differentiators: Compare your listing periodically to others in St. Clements and nearby buildings like Caravelle Tower or Ocean Dunes. If many similar units are vying for guests, consider what can set yours apart. Examples: “Beach gear provided” (leave some chairs/umbrella for guest use), “Keyless entry – go straight to your door” (install a smart lock), “Enhanced cleaning protocol” (if you use one, mention it to reassure guests). If your unit has an angle oceanview, mention the view explicitly and maybe include a balcony photo with the ocean in frame – so guests know they aren’t getting a parking lot view. For the 3BR penthouse, emphasize its uniqueness (no other like it on site) and ideal use cases (multi-generational family trips, three couples, etc.).

• Calendar Management & Instant Book: Using Instant Book on Airbnb (allowing guests to book without approval) can increase bookings, as many guests filter for it. Just set reasonable house rules (e.g. minimum age, no parties) to protect yourself, and use Airbnb’s guest review filter (you can require that only guests with positive reviews can Instant Book, if you want). Also, keep your calendar updated and open as far out as you’re comfortable – many families book summer vacations 6-12 months ahead. Having your summer calendar open (and maybe with an early-bird discount or at least last year’s rates) by fall can lock in some revenue.

In summary, treat your St. Clements condo like the hospitality business it is. Happy guests lead to great reviews, which lead to more visibility and bookings, creating a virtuous cycle. By highlighting the unique aspects of this building – the classic “pink” architecture, the on-site beach bar, and the fantastic location between the hustle of downtown and the luxury of the northern avenues – you can carve out a profitable niche in the Myrtle Beach rental market.

Historical Appreciation & Future Value Trends

St. Clements Suites condos have seen dynamic shifts in value over the decades, reflecting broader Myrtle Beach real estate cycles. It’s important for investors to understand both the appreciation potential and the volatility of condotel properties:

• Boom, Bust, and Recovery: Like many oceanfront condos, St. Clements units experienced a huge run-up in prices during the mid-2000s housing boom, followed by a sharp decline after the 2008 financial crisis. Many condotels in Myrtle Beach lost more than half their value in that downturn. For example, a 1BR unit that might have sold for around $150,000 in 2005 could only fetch perhaps $70,000–$80,000 by 2011-2012. Indeed, one St. Clements one-bedroom sold for $72,500 in late 2013 – a reflection of that market bottom.

• 2010s Steady Growth: From those lows, values slowly recovered throughout the 2010s as tourism grew and distressed inventory cleared out. By 2019, many 1BR units were back into the low-to-mid $100s (depending on upgrades). St. Clements’ attractive location helped it rebound: it’s in the upscale north end neighborhood but offered some of the most affordable “true oceanfront” ownership, so demand from investors and second-home buyers returned.

• Post-2020 Surge: The period from 2020 to 2022 saw an unprecedented surge in vacation property demand. Low interest rates, buyers seeking getaways during the pandemic, and a booming rental market drove prices up quickly. St. Clements units that were selling around $120K in 2019 jumped to $160K+ by 2021. As of 2024, one-bedroom condos are selling around $180K–$200K (indeed, a 1BR was listed at $195,000 in 2025). That’s roughly a 150-170% increase from the 2013 trough for that unit – a tremendous appreciation in just a decade. The 3BR penthouse, being unique, doesn’t trade often, but its value likely followed suit; it might have been sub-$200K back in 2012 as a distressed sale (there was even a bank-owned sale noted a few years ago on it), whereas today it could approach the mid-$300s or higher given its size and rarity.

• Current Market Factors: In 2024-2025, the overall Myrtle Beach real estate market remains strong, though rising interest rates have cooled the pace of sales somewhat. Inventory for oceanfront condos is still limited relative to buyer interest, which is helping support prices. However, condotels like St. Clements can be harder to finance (more on financing below), so their buyer pool is somewhat constrained to cash buyers or those using portfolio loans. This can keep prices of condotels from overheating too far – they generally remain more value-priced per square foot than residential condos. At St. Clements, the ~$200K price point for a furnished 1BR that can generate ~$25K/year in rent is still appealing to investors (a reason the list-to-sale price ratios have remained high).

• Long-Term Value Projection: Looking ahead, investors should view St. Clements (and condotels generally) as primarily income assets with modest appreciation. The days of ultra-cheap foreclosures are over, and from here we expect more normalized growth. Myrtle Beach’s continued popularity bodes well – tourism numbers hit records in recent years and the area is expanding attractions, infrastructure, and year-round appeal. If that continues, demand for well-located oceanfront units should remain solid. It’s reasonable to project annual appreciation in the low single digits (e.g. 2–5% per year) over the long term, aligned with inflation and rental income growth.

However, be mindful that condotels are more cyclical than primary homes. In any future recession or travel slump, condotel prices could slide more than the overall market due to their investment nature. The upside is that the rental income provides a return while you hold – unlike raw land or non-rental second homes, these units generate cash flow to help carry them through market dips.

• Resale Considerations: When it comes time to sell, having a strong documented rental history can actually boost your resale value. Many buyers of St. Clements condos are investors themselves, so being able to show, for example, “Grossed $28K in 2024 on Airbnb” is a great selling point. Keeping the unit updated will also pay off: buyers pay a premium for “turn-key” condition (since they can’t finance renovations easily on a condotel purchase). Given that all units are individually owned and decorated, there can be a wide variance in sale prices even among identical floor plans – the renovated, well-furnished units command more. The penthouse 3BR, whenever it sells, will likely attract a mix of investor and residential interest (someone might want it as a retirement beach condo with rental option). Unique units often find buyers willing to pay top dollar if they fall in love with the space.

In summary, St. Clements condos have appreciated significantly from the post-recession lows, providing both capital gains and solid rental yields to owners. While future gains are likely to be steadier, the factors that make this property attractive – oceanfront location, affordability relative to single-family beach homes, and income potential – suggest it will continue to be a sought-after investment. Just approach it as a cash flow play first and an appreciation play second. If the market goes up, that’s icing on the cake of your rental returns.

Financing a St. Clements Condo (Condotel Financing 101)

One of the challenges (and opportunities) in buying at St. Clements is financing. Because this is a condotel (condo-hotel) property with on-site check-in and predominantly short-term rentals, conventional loans (Fannie Mae/Freddie Mac) typically do not apply. But don’t worry – there are specialized financing options available. Here’s what to know:

• Local Portfolio Lenders: Myrtle Beach has a number of banks and credit unions experienced in condotel loans. These lenders keep the loans on their own books (portfolio loans) since they can’t be sold to Fannie Mae. Examples include CresCom Bank, South Atlantic Bank, Sandhills Bank, Coastal Carolina National Bank (CCNB), among others. These lenders will finance St. Clements and similar properties for qualified buyers. You’ll likely get an adjustable-rate mortgage (ARM) or a shorter-term fixed loan rather than a 30-year fixed. Common structures are 5, 7 or 10-year ARM (rate fixed for first 5,7,10 years then adjusts) or even fixed-rate loans amortized over 15–20 years.

• Down Payment Requirements: Expect to put 25%–30% down (at minimum) for a condotel loan. If you intend to use it as a true second home (occasional personal use) some lenders offer 25% down; if it’s strictly investment, others may require 30% or even 40%. For instance, CresCom was noted to require 25% down for a 15-year loan, 30% for 20-year, 35% for 30-year on condotels under 750 sq ft. Sandhills Bank requires 25% down and only does 2nd-home loans (no pure investment loans). The key is, you should be prepared with a higher down payment than a normal condo – 20% down options are rare (though some niche lenders or DSCR loans might allow it at higher rates).

• Interest Rates & Terms: Rates on condotel loans are generally a bit higher than primary residence loans – often in the range of +1-2% above conventional 30-year rates. In 2025, if primary home loans are ~6-7%, expect condotel loans in the ~7-8%+ range, depending on ARM vs fixed. Loan terms might be capped at 20 or 25 years amortization for smaller units (some lenders limit loan length on efficiencies). For example, one bank might do a 15-year amortization on an efficiency and up to 25-year on a 1BR. These shorter terms increase the monthly payment, so be sure to calculate that into your cash flow planning. The good news is there’s no PMI since you’re putting 25%+ down.

• Minimum Unit Size: Some lenders have a cutoff (often >~500 sq ft) for what they’ll finance. St. Clements efficiency units around 450 sq ft might be just below some thresholds. CresCom, for instance, will not finance efficiencies (only 1BR+ units), whereas Sandhills will finance efficiencies (loan amount must be >$50K). So, if you’re eyeing a studio unit, your lender options might be fewer. Many efficiency buyers simply pay cash because the loan options can be limited and short-term. One strategy if financing an efficiency is to treat it as a second home purchase (if you plan some personal use) to qualify with a lender like Sandhills or a credit union that will do it as a portfolio second home loan.

• DSCR and Non-QM Loans: Another route is using Debt-Service Coverage Ratio (DSCR) loans or other non-QM (non-qualified mortgage) products. DSCR loans look at the property’s income potential rather than your personal income. Essentially, if the projected rent covers the mortgage (usually a DSCR of 1.1 or higher), they’ll lend based on that. These can be great for investors who might not qualify on W2 income or who want to avoid the hassle of income verification. Down payments for DSCR loans will also be around 25-30%. Interest rates could be a tad higher than local bank portfolio loans, but the process might be easier (and they often allow LLC borrowing). It’s worth exploring if you have multiple investment properties or want to keep this off your personal debt-to-income calculations.

• Second-Home Loans vs. Investment Loans: If you plan to use the condo for yourself more than 14 days a year, some lenders might categorize it as a second home. Interestingly, some local banks don’t charge higher rates for investment vs second home on condotels – they treat all condotel loans similarly. But others might, so clarify that. A second-home loan on a condotel still requires the condotel-friendly lender (you can’t go to Rocket Mortgage for this), but it might allow slightly better terms if you say it’s for dual personal use. Just remember, if you go that route, you should indeed use it personally some (the lender may ask you to affirm it’s not purely a rental).

• Closing Costs and Process: Condotel loans will have similar closing costs to any mortgage (origination, appraisal, etc.). The appraisal can be tricky – make sure the appraiser has experience with condotels so they use appropriate comps (units in the same building or similar condo-hotel buildings). Sometimes appraisals come in a bit low in these buildings because sales can be cash-heavy (lower than listing) or sporadic. Having a sizable down payment cushions this risk, but it’s something to be aware of. Start the financing process early – not all loan officers know what a condotel is, so work with one who has done these loans in Myrtle Beach.

• All-Cash Offers: It’s worth noting a significant portion of oceanfront condo sales are cash deals (often 50% or more of such units are bought with cash, especially under ~$150K). If you have the ability (or a line of credit elsewhere), paying cash can make your offer more competitive and simplify acquisition. Then later you could do a cash-out refinance with a condotel lender if desired. Given current interest rates, some investors choose cash to avoid a 8% loan, effectively “earning” that interest by not paying it.

Financing Summary: Getting a loan for St. Clements is very doable, but will require a larger down payment and likely an ARM or shorter term. Plan for 25-30% down and talk to a local Myrtle Beach bank or mortgage broker who specializes in condotels. As an investor, run your numbers with a conservative interest rate and amortization to ensure the rental income can cover or substantially offset the mortgage. Often, even with the higher rates, these units can come close to break-even on debt service when factoring in rental income – meaning your out-of-pocket is mainly the down payment and then the property pays for itself (especially if self-managed).

Finally, keep in mind the financing constraint is part of why these condos are relatively affordable on the price spectrum – fewer eligible buyers keeps prices from skyrocketing. As an investor, if you can navigate the financing, you’re stepping into an asset class that not everyone can, which can mean higher cap rates for those who do.

Tax-Advantaged Investment Strategies

Real estate investments like St. Clements condos not only offer rental income and appreciation, they can also be part of savvy tax planning and retirement strategies. Two avenues to consider are 1031 exchanges to defer capital gains taxes and using self-directed retirement accounts (IRA/401(k)) to purchase the property.

1031 Exchange – Deferring Taxes

A 1031 exchange (named after IRS Code Section 1031) allows you to sell an investment property and reinvest the proceeds into another investment property without paying capital gains tax on the sale. This tax deferral can be incredibly powerful for building wealth. St. Clements units qualify as investment property (if you rent them), so they can be used in 1031 exchanges. Here’s how it could work:

• Using a 1031 to Buy In: Let’s say you have a rental house or another condo you’re selling with a $100K capital gain. Normally, you’d owe taxes on that gain. But by identifying a St. Clements condo (or multiple condos) as replacement property and doing a 1031 exchange, you could roll those gains into the new purchase, owing no tax right now. Essentially, the IRS lets you swap “like-kind” real estate investments and defer the tax bill. You’d need to follow the rules – for example, you have 45 days to identify replacement properties after selling and 180 days to close, and you must use a qualified intermediary to hold the funds. The property you buy should be of equal or greater value and you should reinvest all the cash equity.

• Using a 1031 to Sell: Conversely, down the road if you go to sell your St. Clements condo (and it has appreciated nicely), you can do a 1031 exchange into another property. For instance, you could sell your 1BR oceanfront and exchange into a larger condo or even a multi-family property elsewhere, without paying taxes on your St. Clements gains. The IRS does require you to have held the condo for investment for at least 2 years in a safe-harbor sense. With vacation rentals, a common guideline is it should be rented out at least 14 days each year and your personal use kept under 14 days (or 10% of rented days) each year for two years, to clearly qualify as an investment property. Most St. Clements owners meet that easily (you’re likely renting far more than 14 days).

• Converting to a Second Home after Exchange: Some investors use a 1031 to buy a place they eventually want to use personally more in retirement. For example, you could 1031 from St. Clements into a single-family beach house that you rent for a few years, then after a prudent period, convert to your primary residence or vacation home. There are specific rules and timelines to do this legitimately (you’d want to rent it out for say 2 years post-exchange to satisfy intent, then you can gradually increase personal use). Eventually, you could even avoid capital gains entirely if you convert to primary residence and meet the Section 121 exclusion requirements, though consult a CPA for specifics – there are prorations when a 1031 is involved.

The main point: 1031 exchanges can eliminate the “tax friction” of selling. You can keep moving your real estate equity up into bigger or more profitable properties without that 20-30% tax haircut slowing you down. Many owners ride the equity from a small condo to a larger one to a fourplex and beyond, tax-deferred all the way. With St. Clements being at an approachable price point, it’s a common entry-level investment that can later be exchanged into a bigger asset. And if you already have investments, it’s a great replacement target because it’s easy to find a ~$150-200K condo to swap into as you downsize gains, for example.

Note: Properly executing a 1031 requires planning. You must designate the exchange before you close on the sale. Always involve a qualified intermediary and get tax advice to ensure compliance with IRS rules. But rest assured, vacation rentals do qualify as long as they’re primarily held for rental/income (and not just personal use).

Investing via Self-Directed IRA or Solo 401(k)

Did you know you can buy an investment property using your retirement funds? It’s possible through a Self-Directed IRA (SDIRA) or a Solo 401(k) for self-employed individuals. Here’s how it works and what to consider:

• Self-Directed IRA: With a custodian that offers self-directed accounts, you can use IRA money (traditional or Roth) to purchase real estate. The IRA technically owns the condo (title will be in the name of the IRA custodian FBO your IRA). All income and expenses flow through the IRA. For example, suppose you have $200K in a rollover IRA from a former job – you could direct that to buy a St. Clements condo all-cash within the IRA. Then all rental income goes back into the IRA (tax-free), and any expenses or repairs are paid from IRA funds. This can supercharge your retirement account if the property appreciates and produces income tax-deferred (or tax-free in a Roth).

• No Personal Use: Important – if your IRA or 401k owns the condo, you and your family cannot use it personally. It must be purely an investment. Using it even for a weekend would be a prohibited transaction (the IRS does not allow benefit to you today from your retirement assets). So this strategy is for pure investment properties only – essentially you’re choosing to make this a part of your retirement portfolio, not a hybrid investment/personal vacation home.

• Expenses and Income Strictly Through the IRA: You’ll need to have sufficient cash in the IRA to cover expenses (HOA dues, taxes, repairs). All rental income goes into the IRA’s account. You can’t pay expenses personally (that’d be a contribution) and you can’t pocket the rent directly (that’d be a distribution) – it all flows through the IRA. Many SDIRA investors will keep a cash cushion in the account for this reason. The HOA $550 and other costs need to be paid from IRA funds.

• Financing in an IRA: It is possible for an IRA to get a loan, but it must be a non-recourse loan (meaning no personal guarantee from you). There are non-recourse lenders for IRAs, often requiring ~50% down or more. For a condo-tel, finding a non-recourse loan is tricky and likely requires a large down payment (perhaps 50-60%). The interest rates are also higher. Because St. Clements units are relatively affordable, many IRA investors just buy cash within the IRA to avoid the financing complication. If you do finance in an IRA, note that any income attributable to the financed portion is subject to UBIT (Unrelated Business Income Tax) – for example if 50% of the purchase is loan-funded, roughly 50% of the net income is taxable even inside the IRA. This can get complex. Using a Solo 401(k) instead can avoid UBIT on leveraged real estate (one advantage of 401k over IRA), but solo 401ks have eligibility requirements (you need self-employment income with no full-time employees aside from yourself/spouse).

• Tax Advantages: If done in a Traditional IRA/401k, the rental income and any capital gains when you sell are tax-deferred – you won’t pay taxes until you withdraw from the account (likely after age 59½). If done in a Roth IRA, all the rental profit and appreciation accrues tax-free (and can be withdrawn tax-free in retirement, since contributions were after-tax). This means potentially converting taxable rental income into tax-free growth – very powerful if you plan to hold the condo long-term and expect significant appreciation or income. Essentially, you’re sheltering the investment from current taxes, letting the pre-tax (or Roth) dollars compound.

• Exit Strategies: If you want to eventually use the condo personally, you’d have to take it as a distribution from the IRA, which would mean paying taxes (and penalties if under age). So usually these IRA-held properties are treated purely as investments to be sold for profit inside the IRA or exchanged (note: 1031 exchanges are tricky inside IRAs; often not done as the IRA itself is already tax-sheltered, but theoretically possible). Many just sell the property within the IRA after it’s appreciated, then reinvest the cash in other assets in the IRA.

Using retirement funds to invest in a condo-tel is an advanced strategy, but it’s a way to diversify your retirement portfolio into real estate. If you’re a small business owner or solo practitioner, a Solo 401(k) plan can be set up which gives you self-directed power and often higher contribution limits; the solo 401k would purchase the property similarly (with you as trustee, if set up that way).

Consult Professionals: If going the self-directed IRA/401k route, work with a custodian or facilitator who knows the rules. There are specific prohibited transaction rules to avoid (e.g. you can’t rent the unit to your relatives; basically no “self-dealing”). Also, crunch the numbers – sometimes the hassle isn’t worth it unless you have idle IRA cash and really want real estate exposure. One benefit is that an IRA or 401k has no debt-to-income concerns, etc., since it’s cash – so it can be a way to purchase free and clear when you might not have personal liquidity.

Bonus: Depreciation and Tax Write-offs

Even outside of exchanges and IRAs, remember that as a rental property, your St. Clements condo is eligible for tax deductions that can shelter much of your rental income. You can depreciate the condo’s building value over 27.5 years (condo purchase price minus an allocation for land). That depreciation, combined with expense write-offs (HOA dues, utilities you pay, property taxes, insurance, management fees, maintenance, etc.), often results in a paper loss or very low taxable income from the property, even if it’s cash-flow positive. For many investors, the rental income is partially or fully offset by depreciation in the early years, meaning you keep the cash flow but have little to no tax on it (subject to passive loss rules and your overall tax situation). Consult a CPA on how best to capitalize and depreciate things like furnishings (which could even be depreciated faster via cost segregation or bonus depreciation). In short, real estate has nice tax advantages as an investment – and condotels are no exception.

Comparing St. Clements to Other Myrtle Beach Condo-Resorts

With so many oceanfront condo buildings along the Grand Strand, how does St. Clements stack up? Let’s compare it to a few similar condo-resorts often on investors’ radar: Caravelle Tower, Ocean Dunes, Boardwalk Resort, and others in Myrtle Beach and North Myrtle Beach.

• Caravelle Tower (Myrtle Beach, 7000 N Ocean Blvd): This building is actually part of the Caravelle complex like St. Clements. However, Caravelle Tower is located across the street (second row) from the ocean, behind the main Caravelle Resort. Units there are typically studios and small 1BRs as well. The big difference is no direct oceanfront views – though many units have at least a partial ocean view down the street. Caravelle Tower owners do usually have access to the Caravelle amenities if on the rental program (similar to St. Clements), and HOA fees are somewhat lower than oceanfront buildings (no oceanfront pool to maintain). For example, Caravelle Tower’s HOA might be in the $400–$500/month range vs. St. Clements ~$550 (exact figure not listed publicly, but main Caravelle is $892, Tower would be less). Price-wise, Caravelle Tower units tend to be a bit cheaper – you might find efficiencies in the $120Ks and 1BRs $140K–$160K, roughly 15-20% less than equivalent in St. Clements due to the oceanfront premium. Rental performance will also be a bit lower; some vacationers specifically want to be oceanfront. However, Caravelle Tower could be an option for investors with a tighter budget who still want the Caravelle Resort affiliation. Net returns as a percentage of purchase price might be similar or even slightly higher, since you pay less to buy in. But absolute rental income is lower than St. Clements (fewer willing to pay top dollar for across-the-street). Also consider, Caravelle Tower is an older structure (built in the 1980s like St. C, but it had major exterior work in recent years). In short: St. Clements vs Caravelle Tower – pay more to be oceanfront and likely get better occupancy and appreciation vs. pay less for second-row and potentially get a better percentage yield but a harder resale. For many, direct oceanfront is worth it.

• Ocean Dunes/Sea Mist/Sand Dunes (Myrtle Beach “Dunes” area): The name “Ocean Dunes” can refer to a couple of towers in the 74th Ave N area that were part of the Sands Resorts. The main Ocean Dunes Resort Tower is oceanfront and comparable vintage to St. Clements. However, its HOA fees are notably high (~$1,400/mo), because it includes extensive on-site amenities (water park, restaurants, front desk) and possibly even unit electric. That high carrying cost eats heavily into profit. Units at Ocean Dunes Tower have sometimes been sold very cheaply because of those fees (there was a time you could find a 1BR under $100K but with $1K+ monthly HOA – only certain investors stomach that). Rental income at Ocean Dunes might be decent in gross (the resort draws a lot of family bookings), but net is the issue. In comparison, St. Clements’ leaner HOA makes it easier to turn a profit. Also, St. Clements being a smaller “boutique” building can sometimes attract an owner-occupant buyer or someone who doesn’t want a mega-resort feel, whereas Ocean Dunes is firmly in resort territory. That said, Sands Ocean Club (nearby, at 9550 Shore Dr.) is another comparable – it’s known for Ocean Annie’s beach bar and heavy rentals, but it too has high HOA and is an older, sometimes rowdy building. Verdict: St. Clements likely offers a sweeter spot between rental potential and expenses compared to the older mega-resorts like Ocean Dunes/Sand Dunes. It’s worth noting those bigger resorts can sometimes drive slightly higher summer rates due to their water parks, but the net might not be better after fees.

• Boardwalk Beach Resort (2300 N Ocean Blvd, Myrtle Beach): Boardwalk is a mid-scale oceanfront resort in the downtown area (near the Myrtle Beach Boardwalk attractions). Built around 2000, it’s a bit newer than St. Clements. HOAs at Boardwalk are about $707/mo for 1BR units. Boardwalk’s units are typically 1BR “shotgun” style (bedroom in back, narrow unit) or small 2BR lockouts. Price-wise, they’re in the same ballpark – low $200Ks for 1BR oceanfront recently. Boardwalk shines in location for tourists who want to walk to the SkyWheel, Pavilion area, etc. As an investor, that means you might get strong summer demand (especially from younger groups, couples, etc., who value location). Winter rentals downtown are sparse (Snowbirds often prefer north end or South Myrtle), but there are some conventions and offseason events around the boardwalk that could help. Rental incomes would be similar or slightly higher than St. Clements in peak season, but possibly similar or lower off-season. One concern at Boardwalk is there are a lot of competing units and a more transient crowd at times; reviews indicate variable unit condition because of multiple management companies (just like Caravelle complex). St. Clements vs Boardwalk: If your target guest is a family or retiree, they might prefer the quieter north end (St. C). If it’s young adults wanting nightlife, Boardwalk’s location is a draw. From an appreciation standpoint, Boardwalk being newer might hold value, but also the downtown area has many high-rises, whereas St. Clements’ immediate area is more low-rise and residential (which some buyers find more charming). Both are viable – as an investor you might choose based on whether you personally prefer to own in a calmer area or in the heart of the action.

• North Myrtle Beach Resorts (Bay Watch, Avista, etc.): In NMB (North Myrtle), popular condo-resorts like Bay Watch Resort (in Crescent Beach) or Avista Resort (in Ocean Drive) are worth comparing. These were built mid-2000s, feature lots of pools and amenities, and have robust rental programs. HOA dues for a 1BR at Bay Watch run around $640/mo, and Avista’s around $960/mo, reflecting those amenities. Prices are higher – a 1BR oceanfront at Bay Watch can be $250K+, Avista similar or more (they are newer and larger on average). So the barrier to entry is higher. Rental-wise, Bay Watch/Avista do very well in peak season with family rentals (often similar weekly rates as some older 2BRs because of all the pools), and their onsite programs are heavily utilized. If we compare, say, a $200K St. Clements 1BR vs a $250K Bay Watch 1BR: the Bay Watch might gross a bit more due to more amenities and being a large 3-tower resort, but the net might end up somewhat comparable because its HOA is higher and management splits can be similar. One could argue the North Myrtle Beach resorts attract more snowbirds (NMB is known for winter rentals), which could help winter occupancy. But St. Clements’ location is pretty good for winter too (not far from grocery stores, etc., and quieter beach). North Myrtle is a different vibe – more family-oriented, slightly less crowded beach, but farther from central attractions. Some investors diversify into NMB to tap that market; others focus on Myrtle Beach proper.

• Forest Dunes Resort (5511 N Ocean Blvd, MB): Forest Dunes is just a bit south of St. Clements and is somewhat comparable in that it’s a smaller building (although it’s across the street from the ocean – but with unobstructed views because nothing can be built on the oceanfront there due to a public access). It has a mix of 1BR, 2BR, 3BR condos. HOA fees around $486/mo for a 1BR, and it has an on-site rental desk too. Prices for 1BR are around $170-180K. Forest Dunes might attract more residential/second-home use (some local owners live there part-time). Its rental demand is solid but not as high as a true oceanfront building. If one wanted a more residential feel with some rental capability, that’s a comparison. But as an investment, St. Clements being oceanfront likely outperforms Forest Dunes in rental.

• The Caravelle (Main Building, 6900 N Ocean Blvd): We’ve touched on it, but to be clear: the Caravelle Resort main tower is a direct alternative to St. Clements. It has mostly efficiency and small 1BR units, very high HOA ($892/mo) because of the extensive amenity package (huge pool area, multiple hot tubs, kiddie features, restaurant, etc.). Purchase prices are similar (a renovated oceanfront efficiency in Caravelle might also fetch ~$180K, similar to a St. Clements 1BR). The main building is more of a hotel experience. Rental income can be high (as evidenced by that unit grossing $45K), but the net is trimmed by management and HOA. St. Clements owners can capture some of that demand without all the extra cost if they manage well independently. It’s almost a strategy: do you want to be in the thick of the resort (main building) or slightly adjacent (St. Clements) with more freedom?

In North Myrtle Beach, some other notable mentions: Beach Cove Resort (Windy Hill) – older 1BR units but great pools, HOAs around $750. Prince Resort (Cherry Grove Pier) – 2007-built condotel, 1BRs ~$300K, HOAs ~$1,000, more upscale. Those cater to slightly different crowds and price points.

Overall Comparison: St. Clements is often described as a “boutique, nostalgic” oceanfront experience – its unique architecture and smaller size appeal to a subset of guests and buyers who like that charm. It sits in between the extremes of a no-amenity condo building and a huge waterpark resort. Investors often find its balance of moderate HOA and access to some resort amenities attractive. When comparing net ROI, a St. Clements 1BR often can outshine a unit in a fancier resort simply because of lower carrying costs. On the other hand, ultra-budget properties (like some sections of the Sea Mist or older motels) might be cheaper to buy, but come with their own issues (deferred maintenance, lower-quality guest base, etc.).

St. Clements also benefits from the Caravelle affiliation without being totally dependent on it – you have flexibility. Comparatively, buying in a fully hotel-like resort often means you feel compelled to stick with their program or match their standards.

For a first-time STR investor, St. Clements provides a relatively straightforward, mid-size investment where you can learn the ropes without too many moving parts. For an experienced owner, it’s a nice addition to a portfolio, especially if you’re diversifying from single-family rentals – the cash-on-cash can be high if bought right. Retirement buyers might find St. Clements attractive for personal use too (a retiree could comfortably spend winters there, then rent in summer), which is less feasible in hyper-commercial resorts. Small business owners using a self-directed retirement plan might also target a building like St. Clements because it’s easier to manage as an asset – a reliable HOA, not a lot of surprises, and a steady tourist draw.

In conclusion, while there are many options in Myrtle and North Myrtle Beach, St. Clements holds its own by offering affordable oceanfront ownership with strong rental potential and a unique charm. It may not have a lazy river or 15th-floor lounge, but it also doesn’t have the exorbitant fees that come with those. It hits a sweet spot that makes sense for a wide range of investors. Always compare the total cost of ownership and net yields when evaluating different buildings – often the flashy resorts aren’t the best earners once you tally everything. St. Clements often comes out looking quite good in that math.

Final Strategic Recommendations

For anyone considering investing in St. Clements Suites, here are some clear takeaways and steps to maximize your success:

1. Do Your Due Diligence: Request past rental statements if available (some sellers will provide a history of what their unit earned, especially if it was on the on-site program). Review the HOA financials and rules – confirm the current dues ($) and ask if any special assessments are planned. Ensure you’re comfortable with the pet/no-pet policy and any restrictions.

2. Aim for Updated Units (or Budget to Update): If choosing between units for sale, a $10K higher price for a nicely renovated unit is usually worth it versus a fixer-upper. Modern LVP flooring, granite countertops, new paint, and stylish furniture will pay off in higher rental rates and occupancy. If you do buy a dated unit at a discount, strongly consider investing in updates before listing on Airbnb. The ROI on upgrades in vacation rentals can be very high (guests gravitate to fresh interiors in photos). Plus, updated units resell for a premium, so you’ll likely get it back in value.

3. Leverage the Off-Peak: Plan for the off-season creatively. For example, market the unit for monthly winter rentals to Northerners. Perhaps partner with a local hospital or travel nurse agency to offer it as lodging. Even offering it to fellow business owners in your network as a retreat (“hey, use my condo for a week in winter if you need a getaway”) could generate some goodwill or side income. The goal is to improve that annual occupancy percentage in the slow times. Myrtle Beach is making efforts to become more year-round (conventions, sports tourism, holiday shows at theaters, etc.), so tap into those markets.

4. Consider Combined Ownership: If you’re a small business owner considering using a solo 401k or similar, weigh the pros and cons carefully. It might even make sense to split ownership – e.g., your IRA owns 50% as tenants-in-common and you own 50% personally. This is complicated (and not common with condotels), but it could allow some personal use of your portion while still having retirement funds invested. In most cases, though, keeping it straightforward (all personal or all IRA) is better. Consult a financial advisor who understands real estate IRAs to structure it right.

5. Exit Strategy Planning: Even as you buy, think ahead. Is this a 5-year hold until values (hopefully) rise and you 1031 into a beach house? Or a long-term cash flow play to hold indefinitely for income? If it’s the former, focus on maintaining the unit’s condition and rental track record so you can sell at top market price. If it’s the latter, then focus on systems to make it easy to manage and perhaps plan for periodic refurbishments to keep it competitive. Both strategies benefit from maximizing rental income – but one might prioritize short-term ROI, the other long-term durability. Also, keep good records of all income/expenses – not only for taxes, but these can help support value at sale by showing the business performance of the condo.

6. Networking and Resources: Connect with other Myrtle Beach STR owners. Online forums (biggerpockets, Facebook groups for MB hosts, etc.) can be invaluable for tips and local vendor recommendations. For instance, learning which cleaners or handymen are reliable, or how others navigated a particular HOA vote or assessment, can save you headaches. Realize that many have walked this path – you don’t have to reinvent the wheel. Since this guide is comprehensive, you’re already ahead of many first-timers by understanding the landscape.

7. Stay Up-to-Date on Market Trends: Keep an eye on Myrtle Beach tourism reports and AirDNA trends for the area. If you see occupancy softening or new supply (like a big new resort opening), you may need to adjust your strategy (either by more aggressive pricing or upping your marketing). Conversely, if tourism is growing (new airlines flying in, new attractions like the recently announced aquarium or theme park, etc.), that can only help your rental prospects. Being informed will let you capitalize on opportunities – for example, if North Myrtle’s city rules get stricter on rentals, perhaps MB properties get a demand boost (just hypothetical, but these things happen).

In summary, St. Clements Suites offers a compelling entry into oceanfront real estate investing. By understanding the numbers, choosing the right management approach, and deploying smart rental strategies, you can turn this classic pink Myrtle Beach condo into a high-performing investment. Whether you’re funding your retirement dreams, building a short-term rental portfolio, or just enjoying some beach time on the side, St. Clements can fit the bill.

By following the guidance in this article – from analyzing Airbnb data to leveraging tax tools like 1031 exchanges – you’ll be well on your way to making an informed, profitable investment. As always, conduct your own due diligence and perhaps vacation a bit in the area to get a feel for it. After all, part of the joy of owning a place at St. Clements is that you, too, can soak in those oceanfront views and become a part of the Myrtle Beach community, all while your asset works for you. Here’s to your investment success on the Grand Strand!

Sources: St. Clements HOA info; Myrtle Beach rental stats; AirDNA market data; Example rental income from Caravelle program; Condotel financing guidelines; 1031 exchange rules; Pet policy confirmation; HOA comparisons.

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.