45 Gascoigne Ave · St. Simons, GA 31522

$292,900

3 bd · 1.5 ba · 1,344 sqft · Condo · 562 Days on market

Built 1984 Poor condition $218/sqft · at area comps Est $304k · at est. $622/mo HOA · 14% of rent ↓ 2% since listing

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Why this score? — see what drove the B- 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).

• Cash flow +28.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

AFFORDABLE, COMFORT AND CONVENIENT 3 bedroom (2 story) end unit condominium - Gascoigne has just about everything and is only 5 minutes to the village!! One of the best priced condos located on the south end of St. Simons Island. Spacious master bedroom with large walk in closet, cathedral ceilings and overlooks the community pool that is steps away from rear deck. 2 assigned personal parking spaces are located directly in front of condo plus a covered porch with an exterior shower area and an oversized storage room. Perfect location that allows easy access to the F. J. Torras causeway and mainland (Brunswick), close proximity to marinas, St. Simons Island village/fishing pier, shopping, golfing, restaurants, beaches and airport. Gascoigne is a pet friendly community and has no rental restrictions.

Key facts

• $622 HOA
• Community pool
• Built 1984

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $293k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $293k).
• Recommended offer: $258k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 1.7% in St. Simons — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Glynn County (other): math 37% / reading 42% proficiency, ranked #47 of 174 in GA (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 577 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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; 734 units permitted in Glynn County in 2024 (136 in 5+ unit buildings).
• At $4,574/mo this rent would consume 51% of the median local household income ($109k/yr) (locally 339% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Glynn County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $82k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 562 days — a 12% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $257,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 562 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.56% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.15%
• DSCR: 1.63
• GRM: 5.3

CMA / ARV

• ARV (median comp): $304,008
• List price: $292,900
• Delta: -3.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.26% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $7,027
• Equity at exit: $43,672

10-year hold

• IRR: 11.1%
• Equity multiple: 1.83×
• Total profit: $68,334
• Equity at exit: $25,325

Cash invested: $82,012 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 31522

• Rents YoY: 2.3%
• Active inventory: 577
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $4,574 medium
• Mortgage (P&I): −$1,536
• Tax est. 1.5%: −$366 /mo · $4,394/yr
• Insurance: −$122
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$622
• Vacancy / Maint / Mgmt: −$961
• Net cashflow: $901

Break-even live

Break-even rent $3,434

Max offer price $292,900

Occupancy floor 75%

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: $73,225
• Closing costs: $8,787
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 Gascoigne Ave #204 Saint Simons Island, GA	3.0	2.0	1760	$5,500	$3.12	44d	1	0.04mi
122 Shady Brook Cir #100 Saint Simons Island, GA	3.0	2.0	1500	$4,950	$3.30	44d	1	0.84mi
1704 Frederica Rd #426 Saint Simons Island, GA	2.0	2.0	1150	$2,150	$1.87	44d	1	1.27mi

HOA detail condo

• Monthly dues: $622 · $7,464/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-19
   days on market $292,900 Active 562 DOM
2. 2026-06-18
   days on market $292,900 Active 561 DOM
3. 2026-06-17
   days on market $292,900 Active 560 DOM
4. 2026-06-16
   days on market $292,900 Active 559 DOM
5. 2026-06-15
   days on market $292,900 Active 558 DOM
6. 2026-06-14
   days on market $292,900 Active 556 DOM
7. 2026-06-13
   days on market $292,900 Active 555 DOM
8. 2026-06-10
   days on market $292,900 Active 553 DOM
9. 2026-06-09
   days on market $292,900 Active 552 DOM
10. 2026-06-08
    days on market $292,900 Active 551 DOM
11. 2026-06-07
    days on market $292,900 Active 550 DOM
12. 2026-06-05
    days on market $292,900 Active 547 DOM
13. 2026-06-03
    days on market $292,900 Active 546 DOM
14. 2026-06-02
    days on market $292,900 Active 545 DOM
15. 2026-06-01
    days on market $292,900 Active 544 DOM
16. 2026-05-31
    days on market $292,900 Active 543 DOM
17. 2026-05-30
    days on market $292,900 Active 542 DOM
18. 2026-02-03
    status Active 809-char remark

    Show marketing remark (809 chars)

    AFFORDABLE, COMFORT AND CONVENIENT 3 bedroom (2 story) end unit condominium - Gascoigne has just about everything and is only 5 minutes to the village!! One of the best priced condos located on the south end of St. Simons Island. Spacious master bedroom with large walk in closet, cathedral ceilings and overlooks the community pool that is steps away from rear deck. 2 assigned personal parking spaces are located directly in front of condo plus a covered porch with an exterior shower area and an oversized storage room. Perfect location that allows easy access to the F. J. Torras causeway and mainland (Brunswick), close proximity to marinas, St. Simons Island village/fishing pier, shopping, golfing, restaurants, beaches and airport. Gascoigne is a pet friendly community and has no rental restrictions.

19. 2026-01-23
    historical 809-char remark

    Show marketing remark (809 chars)

    AFFORDABLE, COMFORT AND CONVENIENT 3 bedroom (2 story) end unit condominium - Gascoigne has just about everything and is only 5 minutes to the village!! One of the best priced condos located on the south end of St. Simons Island. Spacious master bedroom with large walk in closet, cathedral ceilings and overlooks the community pool that is steps away from rear deck. 2 assigned personal parking spaces are located directly in front of condo plus a covered porch with an exterior shower area and an oversized storage room. Perfect location that allows easy access to the F. J. Torras causeway and mainland (Brunswick), close proximity to marinas, St. Simons Island village/fishing pier, shopping, golfing, restaurants, beaches and airport. Gascoigne is a pet friendly community and has no rental restrictions.

20. 2025-10-29
    price $292,900 809-char remark

    Show marketing remark (809 chars)

    AFFORDABLE, COMFORT AND CONVENIENT 3 bedroom (2 story) end unit condominium - Gascoigne has just about everything and is only 5 minutes to the village!! One of the best priced condos located on the south end of St. Simons Island. Spacious master bedroom with large walk in closet, cathedral ceilings and overlooks the community pool that is steps away from rear deck. 2 assigned personal parking spaces are located directly in front of condo plus a covered porch with an exterior shower area and an oversized storage room. Perfect location that allows easy access to the F. J. Torras causeway and mainland (Brunswick), close proximity to marinas, St. Simons Island village/fishing pier, shopping, golfing, restaurants, beaches and airport. Gascoigne is a pet friendly community and has no rental restrictions.

21. 2024-11-21
    listed $300,000 Active 809-char remark

    Show marketing remark (809 chars)

    AFFORDABLE, COMFORT AND CONVENIENT 3 bedroom (2 story) end unit condominium - Gascoigne has just about everything and is only 5 minutes to the village!! One of the best priced condos located on the south end of St. Simons Island. Spacious master bedroom with large walk in closet, cathedral ceilings and overlooks the community pool that is steps away from rear deck. 2 assigned personal parking spaces are located directly in front of condo plus a covered porch with an exterior shower area and an oversized storage room. Perfect location that allows easy access to the F. J. Torras causeway and mainland (Brunswick), close proximity to marinas, St. Simons Island village/fishing pier, shopping, golfing, restaurants, beaches and airport. Gascoigne is a pet friendly community and has no rental restrictions.

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,889
• − Mortgage interest: −$16,407
• − Property taxes: −$4,394
• − Insurance: −$2,262
• − Repairs & maintenance: −$4,391
• − Management: −$4,391
• − HOA: −$7,464
• − Depreciation: −$8,521
• Taxable income: $7,059
• Est. tax owed @ 24.0%: −$1,694
• After-tax cash flow: $9,116/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 · 1 photo

Poor 20/100 Extensive rehab

This property is severely flooded and requires extensive repairs and waterproofing to be habitable and safe.

Repairs flagged

• Major Flooded area — Standing water indicates severe flooding
• Major Structural assessment — Flooding can cause structural damage

Value-add opportunities

• Both Flood mitigation and structural repairs — Essential for safety and functionality
• Both Interior and exterior waterproofing — Prevents future flooding and water damage

Renovation cost estimate screening

Repair item	Severity	Est. cost
Flooded area · Standing water indicates severe flooding	Major	$15,000–50,000
Structural assessment · Flooding can cause structural damage	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Flood mitigation and structural repairs — Essential for safety and functionality ↑
• Both Interior and exterior waterproofing — Prevents future flooding and water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Glynn County
• NCES district ID: 1302400
• Math proficiency: 37% ▼ -9.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $47,554
• Composite: 33.83/100
• National rank: #5359
• State rank: #47 of 174 in GA

Livability — St. Simons

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Simons, GA
• County: Glynn County · 69,019 people
• Metro: Brunswick, GA
• Population (ZIP): 17,780
• Household income: $108,632
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 339.0

Population outlook (Glynn County) Hauer SSP2

• Today (2025): 91,404 people
• By 2030: 94,806 · +3.7%
• By 2040: 100,060 · +9.5%
• By 2050: 103,258 · +13.0%
• By 2075: 107,970 · +18.1%
• By 2100: 103,363 · +13.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Slovak 5% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Glynn

• 2024 margin: Strong R (+26.0) · D 36.8% · R 62.8%
• 2008→2024 swing: -2.6pp toward R · 2008: -23.4pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+23.2 2016: R+28.6 2012: R+27.0 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -564.58%
• Current HPI: 191.6942
• Rent YoY: ▲ 2.26%
• Metro: Brunswick, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

-2.4% since first listed

4 events — show timeline

• 2026-02-03 Relisted — GIAR
• 2026-01-23 Listing Removed — GIAR
• 2025-10-29 Price Changed $292,900 GIAR
• 2024-11-21 Listed $300,000 GIAR