50 Yacht Cove Dr #230 · Hilton Head Island, SC 29928

$369,000

2 bd · 2.0 ba · 1,206 sqft · Condo public records · 61 Days on market

Built 1987 $306/sqft · 8% below area Est $401k · 8% under

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Why this score? — see what drove the D 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 +11.1/15.0
• Cash flow +7.9/30.0
• Appreciation +6.6/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks

Wow!! Top flοor, сornеr, 2 ΒR, 2 BA FLΑΤ in "the elevator building" at Wyndеmеre Villas! Granite countertops, wood floors, separate dining spaces, nice outdoor space and additional outside storage. Enjoy the ideal, mid-Island location which is convenient to everything! Shelter Cove is just a short walk or bike ride away. The perfect primary or the ideal Island getaway. Claim your piece of Island Paradise for under $400,000!

Key facts

• Corner
• Wood floors
• Outdoor space

Tags

• TOP FLOOR
• CORNER
• GRANITE COUNTERTOPS
• WOOD FLOORS
• SEPARATE DINING SPACES
• OUTDOOR SPACE

Property features AI

Finance

• Other: Pets allowed (dogs OK; owner restrictions, number and size limits apply)
• HOA & community: Association management; Common area maintenance; Flood insurance included; Grounds maintenance; Structure maintenance; Pest control; Sewer included; Trash included; Water included; Community clubhouse; Community pool; Trails

Exterior

• Parking: Assigned parking
• Security: Closed-circuit cameras; Security guard
• Utilities: Public water
• Home design: Wood siding
• Construction: Asphalt roof; Wood siding construction
• Exterior features: Paved driveway; Porch; Rear porch; Storage; Community pool; Has view

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Electric cooling; Heat pump cooling
• Interior features: Ceiling fans; Multiple closets; Cable TV ready; Unfinished walls
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $369k.

Deal economics

• At list price, monthly cash flow is $-401 ($-5k/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 $300k (18.8% below list).
• Recommended offer: $300k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 2.9% 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.
• Zoned schools: Hilton Head Island Elementary (math 50% / reading 49%, grade D, #168 of 597 statewide, top 31%, 709 students, 56% FRL); Hilton Head Island Middle (math 33% / reading 42%, grade F, #90 of 229 statewide, top 42%, 856 students, 52% FRL); Hilton Head Island High (math 70% / reading 82%, grade A-, #34 of 196 statewide, top 17%, 1,345 students, 40% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 845 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• This rent runs 37% 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 ($3k 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 ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $124k; list at $369k implies a 196% gain — meaningful room to come down on a strong offer.

Recommended offer $299,807 (18.8% 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 61 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.81% ✗
• Cap rate: 4.99%
• Cash-on-cash: -4.65%
• DSCR: 0.79
• GRM: 10.3

CMA / ARV

• ARV (median comp): $401,401
• List price: $369,000
• Delta: -8.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.0%
• Equity multiple: 1.23×
• Total profit: $23,868
• Equity at exit: $170,245

10-year hold

• IRR: 7.3%
• Equity multiple: 2.13×
• Total profit: $117,041
• Equity at exit: $265,781

Cash invested: $103,320 (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: 845
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,998 medium
• Mortgage (P&I): −$1,935
• Tax from tax record: −$211 /mo · $2,537/yr
• Insurance: −$154
• HOA est. from 4 same-building comps: −$469
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-401

Break-even live

Break-even rent $3,505

Max offer price $298,200

Occupancy floor —

Sensitivity live

Price	-10% $-192	-5% $-296	+0% $-401	+5% $-505	+10% $-610
Rent	-10% $-638	-5% $-519	+0% $-401	+5% $-282	+10% $-164
Rate	-1.0pp $-215	-0.5pp $-307	base $-401	+0.5pp $-496	+1.0pp $-594

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Shipyard Dr #148 Hilton Head Island, SC	3.0	3.0	1400	$3,200	$2.29	45d	1	1.49mi

HOA detail condo

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

Listing history 31 events

1. 2026-06-21
   days on market $369,000 Active 61 DOM
2. 2026-06-18
   days on market $369,000 Active 58 DOM
3. 2026-06-17
   days on market $369,000 Active 57 DOM
4. 2026-06-16
   days on market $369,000 Active 56 DOM
5. 2026-06-15
   days on market $369,000 Active 55 DOM
6. 2026-06-14
   days on market $369,000 Active 53 DOM
7. 2026-06-13
   days on market $369,000 Active 52 DOM
8. 2026-06-10
   days on market $369,000 Active 50 DOM
9. 2026-06-09
   days on market $369,000 Active 49 DOM
10. 2026-06-08
    days on market $369,000 Active 48 DOM
11. 2026-06-07
    days on market $369,000 Active 47 DOM
12. 2026-06-05
    days on market $369,000 Active 44 DOM
13. 2026-06-03
    days on market $369,000 Active 43 DOM
14. 2026-06-02
    days on market $369,000 Active 42 DOM
15. 2026-06-01
    days on market $369,000 Active 41 DOM
16. 2026-05-31
    days on market $369,000 Active 40 DOM
17. 2026-05-08
    price $369,000 460-char remark
18. 2026-04-21
    listed $389,000 Active 460-char remark
19. 2025-11-18
    price $384,900
20. 2025-09-29
    price $389,900
21. 2025-08-12
    listed $397,500 Active
22. 2023-08-28
    price $359,400
23. 2023-06-22
    listed $367,800 Active
24. 2016-06-17
    soldstatus $124,500
25. 2016-06-15
    soldstatus $124,500
26. 2016-05-05
    listed $139,900
27. 2008-03-13
    listed $170,000
28. 2004-04-06
    soldstatus $110,000
29. 2004-03-10
    soldstatus $110,000
30. 2003-11-21
    listed $114,500
31. 1989-10-01
    soldstatus $89,900

ⓘ 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: $2,537 · $211/mo
• Projected year-2 tax: $2,537 · $211/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: $35,977
• − Mortgage interest: −$20,670
• − Property taxes: −$2,537
• − Insurance: −$1,845
• − Repairs & maintenance: −$2,878
• − Management: −$2,878
• − HOA: −$5,628
• − Depreciation: −$10,735
• Taxable loss: −$11,194
• Est. tax savings @ 24.0%: +$2,687
• After-tax cash flow: $-2,123/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

+310.5% since first listed

15 events — show timeline

• 2026-05-08 Price Changed $369,000 RSMLS
• 2026-04-21 Listed $389,000 RSMLS
• 2025-11-18 Price Changed $384,900 RSMLS
• 2025-09-29 Price Changed $389,900 RSMLS
• 2025-08-12 Listed $397,500 RSMLS
• 2023-08-28 Price Changed $359,400 RSMLS
• 2023-06-22 Listed $367,800 RSMLS
• 2016-06-17 Sold (Public Records) $124,500 Public Records
• 2016-06-15 Sold (MLS) $124,500 RSMLS
• 2016-05-05 Listed $139,900 RSMLS
• 2008-03-13 Listed $170,000 RSMLS
• 2004-04-06 Sold (Public Records) $110,000 Public Records
• 2004-03-10 Sold (MLS) $110,000 RSMLS
• 2003-11-21 Listed $114,500 RSMLS
• 1989-10-01 Sold (Public Records) $89,900 Public Records

Property tax history

+7.9%/yr

Latest (2025): $2,537 · +1.2% YoY. Source: county tax records.