I live in Little River Inn Resort in Little River, and I do not see that condo prices are still falling here or anywhere in the Myrtle Beach area. Especially since summer has begun,. prices are climbing slowly. Most of the really really low priced foreclosures are gone, and once the ones that are still here are gone, things will get more close to normal.
Also, condos in Little River are mostly primary residence homes or secondary vacation homes. You aren't going to get vacation rental prices in Little River.
To answer your question, and I think Little River Inn is one of the lowest priced complexes WITH THE BEST HOA in town, our lowest right now for a one bedroom is about $50,000. That would be AS-IS, not in perfect shape and probably unfurnished. The average for a really nice one bedroom here would be about $70K. We have a few that the owners are asking close to $100K and aren't desparate enough to come down because the units are in great condition with many upgrades. Remember the old adage, you get what you pay for. If you buy the bottom line lowest priced condo you can find, it's likely to be a piece of crap, to put it bluntly.
Now, I do happen to know there are some oceanfront efficiency units in Sea Mist Resort in South Myrtle right now that are CHEAPER than ours! Their HOA fees will be somewhat higher, but they will have a true rental income, and if you're looking to invest only, then that is what I would recommend. Little River is a great place to live, and I love my condo. But it's not an investment property...unless you are looking to buy cheap and hold on to it for 5-10 years...paying the expenses as you go. You can rent the 1 bedrooms here for about $700 a month and there's a good yearly rental market. But that won't pay the expenses if you have a mortgage.
AND, if you want a decent condo that you will be happy with, I do not recommend that you buy anywhere other than here, The Gardens at Cypress Bay, Cypress Bay itself. They are more expensive than ours, somewhat nicer, but about 2 miles further from the beach. The places that are cheaper than Little River Inn, and I won't mention any names, have problems with flooding, bad HOA's, high assessments, and high crime. I did a lot of investigation before I moved here, including getting opinions from the NMB police department. They were very accurate in their warnings. ~ PS, I have no reason to fib about any of this...it does not benefit me.