4 N Forest Beach Dr #105 · Hilton Head Island, SC 29928

$359,000

1 bd · 1.0 ba · 518 sqft · Condo public records · 49 Days on market

Built 1979 $693/sqft · 21% below area Est $454k · 21% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• Appreciation +6.6/10.0
• 1% rule +4.6/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautifully renovated condo on the beach. Close to Coligny Plaza, restaurants, shopping. Granite countertops, Newer cabinets, appliances, LVP flooring, and turn-key furnishings. HVAC system replaced in 2021. Elevators newly installed in the complex. Peek-a-boo view of ocean. Home Warranty included. Great rental income!

Key facts

• Community pool
• Built 1979
• Listed 49 days

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: HOA covers association management, common areas, grounds maintenance, structure maintenance, pest control, sewer, trash and water; Community amenities include beach access/rights, elevator(s), playground, pool and trails

Exterior

• Parking: Unassigned parking
• Security: Security guard
• Utilities: Public water
• Home design: Condominium / multi-story (unit in a building)
• Construction: Built with wood siding; Asphalt roof
• Exterior features: Patio; Has view; Community pool with solar heating

Interior

• Kitchen: Dishwasher; Microwave; Stove
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling; Heat pump
• Interior features: Furnished; Main level primary; Cable TV; Tile flooring; Family room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $-173 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $344k (4.3% below list).
• Recommended offer: $344k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.0% in Hilton Head Island — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#157 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Beaufort 01 (town): math 42% / reading 51% proficiency, ranked #17 of 80 in SC (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.2%/yr); 838 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• This rent runs 42% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.2% local appreciation)).
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $343,657 (4.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• GRM: 8.7

CMA / ARV

• ARV (median comp): $453,995
• List price: $359,000
• Delta: -20.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.21% appreciation · 3.23% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.37×
• Total profit: $37,266
• Equity at exit: $165,631

10-year hold

• IRR: 9.3%
• Equity multiple: 2.44×
• Total profit: $144,880
• Equity at exit: $258,579

Cash invested: $100,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29928

• Home prices YoY: 1.3%
• Rents YoY: 3.2%
• Active inventory: 838
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,437 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$306 /mo · $3,671/yr
• Insurance: −$150
• HOA est. from 15 same-building comps: −$550
• Vacancy / Maint / Mgmt: −$722
• Net cashflow: $-173

Break-even live

Break-even rent $3,656

Max offer price $328,390

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 N Forest Beach Dr Unit 1436439P Hilton Head Island, SC	1.0	1.0	516	$4,092	$7.93	44d	1	0.03mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	13d	1	0.25mi
23 S Forest Beach Dr Unit 1316238P Hilton Head Island, SC	1.0	1.0	645	$3,185	$4.94	21d	1	0.40mi
10 Lemoyne Ave Hilton Head Island, SC	1.0	1.0	500	$1,700	$3.40	13d	1	0.62mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $359,000 Active 49 DOM
2. 2026-06-17
   days on market $359,000 Active 48 DOM
3. 2026-06-16
   days on market $359,000 Active 47 DOM
4. 2026-06-15
   days on market $359,000 Active 46 DOM
5. 2026-06-14
   days on market $359,000 Active 44 DOM
6. 2026-06-13
   days on market $359,000 Active 43 DOM
7. 2026-06-10
   days on market $359,000 Active 41 DOM
8. 2026-06-09
   days on market $359,000 Active 40 DOM
9. 2026-06-08
   days on market $359,000 Active 39 DOM
10. 2026-06-07
    days on market $359,000 Active 38 DOM
11. 2026-06-05
    days on market $359,000 Active 35 DOM
12. 2026-06-03
    days on market $359,000 Active 34 DOM
13. 2026-06-02
    days on market $359,000 Active 33 DOM
14. 2026-06-01
    days on market $359,000 Active 32 DOM
15. 2026-05-31
    days on market $359,000 Active 31 DOM
16. 2026-04-30
    listed $359,000 Active 656-char remark
17. 2026-04-27
    listed $359,000 Active
18. 2022-09-01
    soldstatus $409,000 Closed

    Show marketing remark (320 chars)

    Beautifully renovated condo on the beach. Close to Coligny Plaza, restaurants, shopping. Granite countertops, Newer cabinets, appliances, LVP flooring, and turn-key furnishings. HVAC system replaced in 2021. Elevators newly installed in the complex. Peek-a-boo view of ocean. Home Warranty included. Great rental income!

19. 2022-08-10
    soldstatus $409,000
20. 2022-06-14
    historical

    Show marketing remark (320 chars)

    Beautifully renovated condo on the beach. Close to Coligny Plaza, restaurants, shopping. Granite countertops, Newer cabinets, appliances, LVP flooring, and turn-key furnishings. HVAC system replaced in 2021. Elevators newly installed in the complex. Peek-a-boo view of ocean. Home Warranty included. Great rental income!

21. 2022-06-08
    listed $409,000

    Show marketing remark (320 chars)

    Beautifully renovated condo on the beach. Close to Coligny Plaza, restaurants, shopping. Granite countertops, Newer cabinets, appliances, LVP flooring, and turn-key furnishings. HVAC system replaced in 2021. Elevators newly installed in the complex. Peek-a-boo view of ocean. Home Warranty included. Great rental income!

22. 2020-07-30
    soldstatus $210,000
23. 2020-07-22
    soldstatus $210,000
24. 2020-01-09
    listed $219,000
25. 2019-03-01
    soldstatus $208,000
26. 2018-10-25
    listed $215,000
27. 2015-08-21
    soldstatus $123,000
28. 2015-08-18
    soldstatus $123,000
29. 2014-03-15
    listed $129,900
30. 1991-04-18
    soldstatus $47,500
31. 1982-05-01
    soldstatus $60,000
32. 1982-05-01
    soldstatus $60,000
33. 1979-09-01
    soldstatus $48,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $3,671 · $306/mo
• Projected year-2 tax: $3,671 · $306/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $41,239
• − Mortgage interest: −$20,110
• − Property taxes: −$3,671
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,299
• − Management: −$3,299
• − HOA: −$6,600
• − Depreciation: −$10,444
• Taxable loss: −$7,979
• Est. tax savings @ 24.0%: +$1,915
• After-tax cash flow: $-164/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Beaufort 01
• NCES district ID: 4501110
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $57,430
• Composite: 40.56/100
• National rank: #3699
• State rank: #17 of 80 in SC

Livability — Hilton Head Island

• Score: 64/100
• State rank: #157
• US rank: #14648

Category grades

Amenities F Commute F Cost of living F Crime A- Employment A+ Housing B- Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hilton Head Island, SC
• County: Beaufort County · 163,770 people
• City population: 40,243
• Metro: Hilton Head Island-Bluffton, SC
• Population (ZIP): 15,785
• Household income: $97,576
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 216.0

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 211,915 people
• By 2030: 227,272 · +7.2%
• By 2040: 253,861 · +19.8%
• By 2050: 275,126 · +29.8%
• By 2075: 311,022 · +46.8%
• By 2100: 321,286 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 2% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 4%
• Foreign-born: 9% · Canada, China
• Languages at home: 91% English-only · Spanish 5% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Beaufort

• 2024 margin: R (+14.5) · D 42.1% · R 56.6% · Other 1.2%
• 2008→2024 swing: -3.7pp toward R · 2008: -10.8pp · 2024: -14.5pp
• All cycles: 2024: R+14.5 2020: R+10.0 2016: R+14.3 2012: R+17.5 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.21%
• Current HPI: 243.4136
• Rent YoY: ▲ 3.23%
• Metro: Hilton Head Island-Bluffton, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

+634.2% since first listed

18 events — show timeline

• 2026-04-30 Listed $359,000 RSMLS
• 2026-04-27 Listed $359,000 RSMLS
• 2022-09-01 Sold (MLS) $409,000 RSMLS
• 2022-08-10 Sold (Public Records) $409,000 Public Records
• 2022-06-14 Delisted — RSMLS
• 2022-06-08 Listed $409,000 RSMLS
• 2020-07-30 Sold (Public Records) $210,000 Public Records
• 2020-07-22 Sold (MLS) $210,000 RSMLS
• 2020-01-09 Listed $219,000 RSMLS
• 2019-03-01 Sold (MLS) $208,000 RSMLS
• 2018-10-25 Listed $215,000 RSMLS
• 2015-08-21 Sold (Public Records) $123,000 Public Records
• 2015-08-18 Sold (MLS) $123,000 RSMLS
• 2014-03-15 Listed $129,900 RSMLS
• 1991-04-18 Sold (Public Records) $47,500 Public Records
• 1982-05-01 Sold (Public Records) $60,000 Public Records
• 1982-05-01 Sold (Public Records) $60,000 Public Records
• 1979-09-01 Sold (Public Records) $48,900 Public Records

Property tax history

+5.5%/yr

Latest (2025): $3,671 · +1.1% YoY. Source: county tax records.