5002 Watergate Dr Myrtle Beach, SC 29588
Estimated payment $3,257/month
Total Views
1,418
2
Beds
1.5
Baths
1,897
Sq Ft
$303
Price per Sq Ft
Highlights
- RV Access or Parking
- 1.5-Story Property
- Bonus Room
- Forestbrook Middle School Rated A-
- Main Floor Bedroom
- Corner Lot
About This Home
Come live and work from home! This remarkable property sits on a corner lot with over a quarter of an acre right down the street from Market Common! There's NO HOA so you can live the life that you have always wanted on your own terms. This super rare home is located in the neighborhood retail district, which means that you can run a business here. There are endless possibilities! It's currently zoned RE 1 which allows boutique shops, medical clinics, banks, salons, fitness centers, health spas, dry cleaners, bait shops, social organizations, and specialty schools with conditional exceptions for restaurants, bars, and veterinary offices. It could even be your own personal art studio or you could use some of this space for a workshop. This property is truly one-of-a-kind. It is located outside of the city limits and there are no restrictions stopping you from having your boat, RV, golf cart, or motorcycle. So, come bring all your toys and enjoy the freedom of having no hoa! Short-term rentals are allowed, which means that you can rent this home out on Airbnb and VRBO. It would make a great primary residence, second home, or vacation rental. This versatile single-family home has a big southern-style front porch and each side has its own entrance with separate exits. As you enter through the left door, you will see an open floor plan with a large 15x17 living room. There are two spacious bedrooms with a full-size bathroom which has a custom tile walk-in shower. Everything you need is on the ground level, which provides easy access. The kitchen features new stainless steel appliances along with granite countertops, a farmhouse sink, and lovely white cabinets. This entire home has been freshly painted, high-quality laminate flooring has been installed, and LED lights were added. A new hot water heater was put in this year and all of the windows on the residential side have been replaced. Two 22,000 BTU mini-split hvac systems have been professionally installed this year. They can both be controlled remotely with wifi and warranties will be provided. There is a transferable termite bond along with a 2-10 warranty that's being offered for extra peace of mind. The 8x10 laundry room has extra space for a pantry and there's a 30x30 attic upstairs, which can be used for extra storage or you could possibly finish it off. The commercial studio side has about 1,056 HSF and includes a 14x22 garage along with a half bath. This side has its own separate breaker box. This is the perfect space to run your own business! The driveway can currently accomodate 6 cars, but there's plenty of room for an additional parking lot. The fenced-in yard is huge and there are some trees in the back which provide some extra privacy. This is a great place to let your pets run around and play! There is a nice patio where you can relax and grill out with friends. The garage is a side load and the fence has a sliding gate. There are two industrial size exterior lights that automatically come on at night. This unique property is conveniently located to everything that the Grand Strand has to offer! There are several top-notch golf courses nearby, the best fishing spots, numerous delicious restaurants, bars with awesome live music, and tons of places to go shopping! Plus, the beach is only about 10 minutes away! You don't want to miss out on this opportunity to come live the coastal dream life! Schedule your showing today and don't forget to check out the 3D virtual tour! Some photos in this listing have been virtually staged. Not all bedrooms are conforming; contact agent for full bedroom details.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,379
Year Built
- Built in 1971
Lot Details
- 0.27 Acre Lot
- Fenced
- Corner Lot
- Property is zoned RE 1
Parking
- 1 Car Attached Garage
- Side Facing Garage
- RV Access or Parking
Home Design
- 1.5-Story Property
- Slab Foundation
- Vinyl Siding
- Tile
Interior Spaces
- 1,897 Sq Ft Home
- Bonus Room
- Workshop
- Laminate Flooring
- Pull Down Stairs to Attic
- Fire and Smoke Detector
Kitchen
- Range
- Microwave
- Stainless Steel Appliances
- Solid Surface Countertops
Bedrooms and Bathrooms
- 2 Bedrooms
- Main Floor Bedroom
- Bathroom on Main Level
Laundry
- Laundry Room
- Washer and Dryer Hookup
Outdoor Features
- Patio
- Front Porch
Schools
- Socastee Elementary School
- Forestbrook Middle School
- Socastee High School
Utilities
- Cooling System Mounted To A Wall/Window
- Water Heater
- Phone Available
- Cable TV Available
Additional Features
- No Carpet
- Outside City Limits
Community Details
- The community has rules related to fencing, allowable golf cart usage in the community
Listing and Financial Details
- Home warranty included in the sale of the property
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,379 | $5,782 | $3,912 | $1,870 |
| 2023 | $1,379 | $5,782 | $3,912 | $1,870 |
| 2021 | $1,272 | $7,820 | $5,102 | $2,718 |
| 2020 | $1,206 | $7,820 | $5,102 | $2,718 |
| 2019 | $1,206 | $7,820 | $5,102 | $2,718 |
| 2018 | $0 | $5,027 | $3,401 | $1,626 |
| 2017 | $1,084 | $5,027 | $3,401 | $1,626 |
| 2016 | -- | $5,027 | $3,401 | $1,626 |
| 2015 | $1,093 | $5,028 | $3,402 | $1,626 |
| 2014 | $1,057 | $5,028 | $3,402 | $1,626 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/11/2025 08/11/25 | Price Changed | $573,900 | -1.0% | $303 / Sq Ft |
| 08/04/2025 08/04/25 | Price Changed | $579,900 | -1.5% | $306 / Sq Ft |
| 07/28/2025 07/28/25 | Price Changed | $588,900 | -1.0% | $310 / Sq Ft |
| 07/15/2025 07/15/25 | For Sale | $595,000 | +196.0% | $314 / Sq Ft |
| 04/16/2025 04/16/25 | Sold | $201,000 | -6.5% | $122 / Sq Ft |
| 02/12/2025 02/12/25 | For Sale | $215,000 | -- | $130 / Sq Ft |
Source: Coastal Carolinas Association of REALTORS®
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $20,100 | -- | |
| Warranty Deed | -- | -- | |
| Deed | $56,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $44,800 | Commercial |
Source: Public Records
Similar Homes in Myrtle Beach, SC
Source: Coastal Carolinas Association of REALTORS®
MLS Number: 2517365
APN: 44106020055
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Provided courtesy of the Coastal Carolinas MLS. Copyright 2025 of the Coastal Carolinas MLS. All rights reserved. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Coastal Carolinas MLS.
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