42 S Forest Beach Dr #3039 · Hilton Head Island, SC 29928

$459,900

2 bd · 2.0 ba · 1,100 sqft · Condo · 184 Days on market

Built 1972 Good condition $418/sqft · 8% below area Est $499k · 8% under $635/mo HOA · 17% of rent

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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 +11.0/15.0
• Appreciation +6.6/10.0
• Cash flow +5.7/30.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Steps tο the bеaсh, thіs spοtlеss 2-bedroom, 2-bath Seаѕcape Villa has been gently used as a second home and is truly move-in ready. Enjoy close proximity to both the pool and the beach walk, with the added convenience of being fully furnished. Seascape owners also enjoy access to a private oceanfront cabana. An outstanding value this close to the beach, with an easy walk to Coligny Plaza, Celebration Park, tennis, shopping, dining, and everything Hilton Head Island has to offer. Insurance, cable, and wifi included in regime fee!

Key facts

• Steps to the beach
• Access to tennis
• Access to shopping

Tags

• STEPS TO THE BEACH
• PRIVATE OCEANFRONT CABANA
• EASY WALK TO COLIGNY PLAZA
• ACCESS TO CELEBRATION PARK
• ACCESS TO TENNIS
• ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $460k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-945 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $323k (29.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $363k (21.0% below list).
• Recommended offer: $323k (29.7% below list) — sets the bar for cash-flow.
• Cap rate 3.8% vs local median 2.3% 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); 1004 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• This rent runs 45% 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 $18k of equity ($3k loan paydown + $15k 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 ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($405k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $323,188 (29.7% 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 184 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.79% ✗
• Cap rate: 3.83%
• Cash-on-cash: -8.80%
• DSCR: 0.61
• GRM: 10.6

CMA / ARV

• ARV (median comp): $499,077
• List price: $459,900
• Delta: -7.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 S Forest Beach Dr #3086	0.03mi	2/2.0	1,100 (0%)	1mo	$505,000	$459	98
10 Lemoyne Ave #414	0.09mi	2/2.0	1,270 (+16%)	1mo	$595,000	$469	70
15 Deallyon Ave #67	0.19mi	2/2.0	1,246 (+13%)	0mo	$504,000	$404	69
19 Lemoyne Ave #91	0.09mi	3/3.0 (+1)	1,220 (+11%)	1mo	$565,000	$463	68
15 Deallyon Ave #59	0.19mi	2/2.5	1,346 (+22%)	0mo	$527,000	$392	64
15 Deallyon Ave #24	0.19mi	2/2.5	1,346 (+22%)	0mo	$550,000	$409	64
31 S Forest Bch #11	0.24mi	2/2.0	1,296 (+18%)	1mo	$820,000	$633	63
137 Cordillo Pkwy #7506	0.14mi	3/3.0 (+1)	1,340 (+22%)	0mo	$635,000	$474	59
125 Cordillo Pkwy #3	0.28mi	2/1.0	885 (-20%)	0mo	$430,000	$486	58
104 Cordillo Pkwy Unit B8	0.53mi	2/1.5	864 (-22%)	1mo	$195,000	$226	47
104 Cordillo Pkwy Unit L9	0.53mi	2/1.5	864 (-22%)	1mo	$241,500	$280	47
104 Cordillo Parkway Pkwy Unit F4	0.53mi	2/1.5	864 (-22%)	1mo	$180,000	$208	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $1,584
• Equity at exit: $212,183

10-year hold

• IRR: 4.2%
• Equity multiple: 1.66×
• Total profit: $85,627
• Equity at exit: $331,254

Cash invested: $128,772 (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 →

Active competition Active MLS

• For sale now: 2 active · 9 under contract
• Median asking: $982,000 ($847/sqft)
• Median days on market: 229 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -46.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29928

• Home prices YoY: 1.3%
• Rents YoY: 3.2%
• Active inventory: 1004
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,631 high
• Mortgage (P&I): −$2,412
• Tax est. 1.5%: −$575 /mo · $6,898/yr
• Insurance: −$192
• HOA: −$635
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $-945

Break-even live

Break-even rent $4,827

Max offer price $323,188

Occupancy floor —

Sensitivity live

Price	-10% $-627	-5% $-786	+0% $-945	+5% $-1,104	+10% $-1,263
Rent	-10% $-1,232	-5% $-1,088	+0% $-945	+5% $-801	+10% $-658
Rate	-1.0pp $-713	-0.5pp $-828	base $-945	+0.5pp $-1,064	+1.0pp $-1,185

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: $114,975
• Closing costs: $13,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Lemoyne Ave Unit 1322533P Hilton Head Island, SC	2.0	2.0	839	$4,267	$5.09	62d	1	0.06mi
19 Lemoyne Ave Unit 1470518P Hilton Head Island, SC	2.0	2.5	1033	$2,673	$2.59	62d	1	0.18mi
36 Deallyon Ave Unit 1498585P Hilton Head Island, SC	2.0	2.5	990	$2,706	$2.73	62d	1	0.39mi
217 Cordillo Pkwy Unit C7 Hilton Head Island, SC	1.0	1.0	850	$1,795	$2.11	62d	1	0.66mi
10 N Forest Beach Dr Unit 1470517P Hilton Head Island, SC	2.0	2.0	1323	$5,684	$4.30	70d	1	0.71mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	62d	1	0.77mi

HOA detail $635/mo · $7,620/yr condo

• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $459,900 Active 184 DOM
2. 2026-08-07
   days on market $459,900 Active 183 DOM
3. 2026-08-06
   days on market $459,900 Active 182 DOM
4. 2026-08-05
   days on market $459,900 Active 181 DOM
5. 2026-08-04
   days on market $459,900 Active 180 DOM
6. 2026-08-03
   days on market $459,900 Active 179 DOM
7. 2026-07-31
   days on market $459,900 Active 176 DOM
8. 2026-07-30
   days on market $459,900 Active 175 DOM
9. 2026-07-29
   days on market $459,900 Active 174 DOM
10. 2026-07-27
    days on market $459,900 Active 172 DOM
11. 2026-07-25
    days on market $459,900 Active 170 DOM
12. 2026-07-23
    days on market $459,900 Active 168 DOM
13. 2026-07-22
    days on market $459,900 Active 167 DOM
14. 2026-07-21
    days on market $459,900 Active 166 DOM
15. 2026-07-18
    days on market $459,900 Active 163 DOM
16. 2026-07-16
    days on market $459,900 Active 161 DOM
17. 2026-07-16
    days on market $459,900 Active 160 DOM
18. 2026-07-14
    days on market $459,900 Active 159 DOM
19. 2026-07-13
    days on market $459,900 Active 158 DOM
20. 2026-07-12
    days on market $459,900 Active 157 DOM
21. 2026-07-11
    days on market $459,900 Active 156 DOM
22. 2026-07-10
    days on market $459,900 Active 155 DOM
23. 2026-07-09
    days on market $459,900 Active 154 DOM
24. 2026-07-08
    days on market $459,900 Active 153 DOM
25. 2026-07-07
    days on market $459,900 Active 152 DOM
26. 2026-07-06
    days on market $459,900 Active 151 DOM
27. 2026-07-05
    days on market $459,900 Active 150 DOM
28. 2026-07-04
    days on market $459,900 Active 149 DOM
29. 2026-07-03
    days on market $459,900 Active 148 DOM
30. 2026-07-02
    days on market $459,900 Active 147 DOM
31. 2026-07-01
    days on market $459,900 Active 146 DOM
32. 2026-06-30
    days on market $459,900 Active 145 DOM
33. 2026-06-29
    days on market $459,900 Active 144 DOM
34. 2026-06-28
    days on market $459,900 Active 143 DOM
35. 2026-06-28
    days on market $459,900 Active 142 DOM
36. 2026-06-27
    days on market $459,900 Active 141 DOM
37. 2026-06-25
    days on market $459,900 Active 139 DOM
38. 2026-06-23
    days on market $459,900 Active 137 DOM
39. 2026-06-21
    days on market $459,900 Active 136 DOM
40. 2026-06-18
    days on market $459,900 Active 133 DOM
41. 2026-06-17
    days on market $459,900 Active 132 DOM
42. 2026-06-16
    days on market $459,900 Active 131 DOM
43. 2026-06-15
    days on market $459,900 Active 130 DOM
44. 2026-06-14
    days on market $459,900 Active 128 DOM
45. 2026-06-13
    days on market $459,900 Active 127 DOM
46. 2026-06-10
    days on market $459,900 Active 125 DOM
47. 2026-06-09
    days on market $459,900 Active 124 DOM
48. 2026-06-08
    days on market $459,900 Active 123 DOM
49. 2026-06-07
    days on market $459,900 Active 122 DOM
50. 2026-06-05
    days on market $459,900 Active 119 DOM

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

Taxation est. · year 1

• Rental income: $43,572
• − Mortgage interest: −$25,762
• − Property taxes: −$6,898
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,486
• − Management: −$3,486
• − HOA: −$7,620
• − Depreciation: −$13,379
• Taxable loss: −$19,358
• Est. tax savings @ 24.0%: +$4,646
• After-tax cash flow: $-6,691/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $5,500–$16,500 screening

This move-in ready 2-bedroom, 2-bath condo is in good condition with minimal maintenance required. It offers a great location close to the beach and amenities, making it an excellent investment opportunity.

Value-add opportunities

• Both Paint freshen up — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Replace air filters — Fresh air filters improve indoor air quality and HVAC efficiency. ↑
• Both Landscaping refresh — Fresh landscaping can enhance curb appeal and attract potential buyers/tenants. ↑
• Both Update window treatments — New window treatments can improve energy efficiency and add a fresh look. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Hilton Head Island Elementary D SC #168/597 Nat'l #12,785/41,679 Middle Hilton Head Island Middle F SC #90/229 Nat'l #6,708/14,009 High Hilton Head Island High A- SC #34/196 Nat'l #1,484/17,239

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

C Composite livability gradescore 64/100

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 · 211,915 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: 20% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

+193.9% since first listed

3 events — show timeline

• 2026-04-15 Price Changed $470,000 RSMLS
• 2026-02-05 Listed $475,000 RSMLS
• 2010-05-19 Listed $159,900 RSMLS