40 Folly Field Rd Unit A229 · Hilton Head Island, SC 29928

$287,500

1 bd · 1.0 ba · 540 sqft · Condo · 1 Days on market

Built 1980 Excellent condition ↓ 13% since listing

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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 +7.5/15.0
• Appreciation +6.6/10.0
• Cash flow +4.8/30.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

Key facts

• Fully renovated
• Remodeled bathroom
• Modern cabinets

Tags

• FULLY RENOVATED
• LUXURY VINYL PLANK FLOORING
• MODERN CABINETS
• NEW COUNTERTOPS
• REMODELED BATHROOM
• WALK-IN SHOWER

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association covers management, common areas, cable TV, flood insurance, insurance, internet, grounds and structure maintenance, pest control, phone, pools, reserve fund, sewer, trash, water, and high-speed internet; Community amenities include beach access and rights, fitness center, golf course, barbecue area, playground, pickleball, pool, restaurant, gated/guarded access, tennis courts, trails, and cable TV

Exterior

• Parking: Unassigned parking
• Security: Security guard
• Utilities: Public water
• Home design: Single-story; Wood siding; Asphalt roof
• Construction: Wood siding construction; Asphalt roof
• Exterior features: Paved driveway; Porch; Rear porch; Community free-form and lap pool; Has view

Interior

• Kitchen: Disposal; Microwave; Oven; Refrigerator
• Bedrooms: Primary bedroom on the main level
• Flooring: Luxury vinyl; Luxury vinyl plank; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heat (electric, heat pump); Central air (electric, heat pump)
• Interior features: Insulated windows; Ceiling fans; Elevator; Main-level primary bedroom; Smooth ceilings; Furnished
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $288k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-707 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (20.6% below list).
• Recommended offer: $228k (20.6% below list) — sets the bar for 1% rule.

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); 846 active listings in the ZIP; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k 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 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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: HOA is 23% of rent.

Recommended offer $228,387 (20.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.34%
• Cash-on-cash: -10.53%
• DSCR: 0.53
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.3%
• Equity multiple: 0.92×
• Total profit: $-6,315
• Equity at exit: $132,643

10-year hold

• IRR: 3.0%
• Equity multiple: 1.47×
• Total profit: $37,988
• Equity at exit: $207,079

Cash invested: $80,500 (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: 846
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,284 medium
• Mortgage (P&I): −$1,508
• Tax est. 1.5%: −$359 /mo · $4,312/yr
• Insurance: −$120
• HOA est. from 24 same-building comps: −$524
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-707

Break-even live

Break-even rent $3,178

Max offer price $185,255

Occupancy floor —

Sensitivity live

Price	-10% $-508	-5% $-607	+0% $-707	+5% $-806	+10% $-905
Rent	-10% $-887	-5% $-797	+0% $-707	+5% $-616	+10% $-526
Rate	-1.0pp $-562	-0.5pp $-633	base $-707	+0.5pp $-781	+1.0pp $-857

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: $71,875
• Closing costs: $8,625
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 8 events

1. 2026-05-07
   status Pending
2. 2026-05-07
   listed $287,500 Active
3. 2024-08-13
   soldstatus $283,500 Closed 386-char remark

   Show marketing remark (386 chars)

   Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

4. 2024-07-05
   status Pending 386-char remark

   Show marketing remark (386 chars)

   Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

5. 2024-06-12
   price $289,000 386-char remark

   Show marketing remark (386 chars)

   Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

6. 2024-05-24
   price $310,000 386-char remark

   Show marketing remark (386 chars)

   Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

7. 2024-04-15
   status Active 386-char remark

   Show marketing remark (386 chars)

   Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

8. 2024-04-09
   listed $329,000 386-char remark

   Show marketing remark (386 chars)

   Updated Hilton Head Beach and Tennis villa! This second-floor end unit was extensively renovated in 2022 and shows extremely well. Good view of the ocean from the living room and balcony! Brand new flooring, cabinets, countertops, and remodeled bathroom featuring a walk-in shower make this villa a complete turnkey opportunity. This would make a fantastic mid-island short term rental.

ⓘ 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: $27,406
• − Mortgage interest: −$16,104
• − Property taxes: −$4,312
• − Insurance: −$1,438
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − HOA: −$6,288
• − Depreciation: −$8,364
• Taxable loss: −$13,485
• Est. tax savings @ 24.0%: +$3,236
• After-tax cash flow: $-5,243/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

Excellent 95/100 None rehab

This fully renovated and move-in-ready 1-bedroom/1-bath villa in the popular Hilton Head Beach & Tennis Resort offers stunning ocean views and a private balcony, making it an ideal vacation home or high-revenue short-term rental.

Value-add opportunities

• Both oceanfront pool access — enhances both resale and rental value
• Both landscaping improvements — enhances curb appeal and rental potential

Renovation cost estimate screening

Value-add ROI direction

• Both oceanfront pool access — enhances both resale and rental value ↑
• Both landscaping improvements — enhances curb appeal and rental potential ↑

ⓘ 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: 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

-12.6% since first listed

8 events — show timeline

• 2026-05-07 Pending — RSMLS
• 2026-05-07 Listed $287,500 RSMLS
• 2024-08-13 Sold (MLS) $283,500 RSMLS
• 2024-07-05 Pending — RSMLS
• 2024-06-12 Price Changed $289,000 RSMLS
• 2024-05-24 Price Changed $310,000 RSMLS
• 2024-04-15 Relisted — RSMLS
• 2024-04-09 Listed $329,000 RSMLS