38 Bellhaven Way · Hilton Head Island, SC 29928

$489,000

3 bd · 2.0 ba · 1,351 sqft · SingleFamily public records · 7 Days on market

Built 1997 4,356 sqft lot $362/sqft · 484% above area

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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).

• Cash flow +15.3/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +4.7/10.0
• Schools +4.1/10.0
• 1% rule +3.3/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Single famіly hοme, сіrcle cul‐dе-sac, on oversized сοrner lot. Perfect mid-island location. Walk and bike to Shelter Cove Community Park and Mall, Marina, The Arts Center, and many restaurants. New stainless steel appliances, refrigerator, dishwasher, garbage disposal, stove, microwave, hot water heater, washer & dryer. Recently replaced roof and HVAC. LVT wood floors, tiled kitchen, carpets, master on main floor. Large covered front porch and rear balcony. . Expansive two car garage with workshop room, storage room. Generous lot with fenced yard and plenty of paved parking. No monthly regime fees. Community Pool and Pavilion. Recently resurfaced tennis court. Only tw

Key facts

• Oversized corner lot
• Mid-island location
• 4,356 sq ft lot

Tags

• OVERSIZED CORNER LOT
• MID-ISLAND LOCATION
• NEW STAINLESS STEEL APPLIANCES
• RECENTLY REPLACED ROOF
• RECENTLY REPLACED HVAC
• LARGE COVERED FRONT PORCH

Property features AI

Finance

• HOA & community: Community pool; Clubhouse; Barbecue area; Tennis courts

Exterior

• Parking: Oversized two-car garage
• Utilities: Public water
• Home design: 2 stories; Faces northwest; Detached property
• Construction: Built with block, stucco, and wood siding; Asphalt roof
• Exterior features: Balcony; Rear porch; Deck; Patio; Porch; Paved driveway; Fence (privacy, yard fenced); Sprinkler / irrigation; Exterior storage

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Self-cleaning oven; Refrigerator
• Bedrooms: Main level primary bedroom
• Flooring: Carpet; Luxury vinyl; Luxury vinyl plank; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central cooling (electric, heat pump)
• Interior features: Ceiling fans; Smooth ceilings; Window treatments; Workshop / storage space
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $489k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $405k (17.2% below list).
• Recommended offer: $405k (17.2% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• In year one you build about $19k of equity ($3k loan paydown + $16k appreciation (3.2% local appreciation)).
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.2% appreciation + 3.2% rent growth), your $137k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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.
• Current owner paid $364k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $404,811 (17.2% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 10.1

CMA / ARV

• ARV (median comp): $83,668
• List price: $489,000
• Delta: 484.45%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Cobblestone Ct	0.18mi	3/2.5	1,444 (+7%)	5mo	$457,500	$317	74
1 Bellhaven Way	0.04mi	3/3.5	1,471 (+9%)	15mo	$510,000	$347	65

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: 9.1%
• Equity multiple: 1.53×
• Total profit: $72,202
• Equity at exit: $225,609

10-year hold

• IRR: 11.5%
• Equity multiple: 2.77×
• Total profit: $241,735
• Equity at exit: $352,214

Cash invested: $136,920 (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: 10.1×

Monthly cashflow live

• Estimated rent: $4,048 medium
• Mortgage (P&I): −$2,564
• Tax from tax record: −$252 /mo · $3,026/yr
• Insurance: −$204
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$850
• Net cashflow: $111

Break-even live

Break-even rent $3,907

Max offer price $489,000

Occupancy floor 92%

Sensitivity live

Price	-10% $388	-5% $250	+0% $111	+5% $-27	+10% $-166
Rent	-10% $-209	-5% $-49	+0% $111	+5% $271	+10% $431
Rate	-1.0pp $358	-0.5pp $236	base $111	+0.5pp $-15	+1.0pp $-144

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Bellhaven Way Hilton Head Island, SC	3.0	2.0	1700	$3,500	$2.06	15d	1	0.05mi
2 Jib Sail Ct Hilton Head Island, SC	3.0	2.5	1508	$3,600	$2.39	45d	1	0.14mi
10 Cobblestone Ct Hilton Head Island, SC	3.0	2.5	1600	$3,600	$2.25	45d	1	0.22mi
47 Shelter Cove Ln Hilton Head Island, SC	2.0	2.0	1564	$4,563	$2.92	15d	18	1.08mi

Listing history 10 events

1. 2026-05-13
   listed $489,000 Active 743-char remark
2. 2021-01-08
   soldstatus $363,900
3. 2018-07-27
   listed $330,000
4. 2016-07-19
   listed $324,900
5. 2009-04-21
   listed $349,000
6. 2007-12-17
   soldstatus $285,000
7. 2007-12-14
   soldstatus $285,000
8. 2007-04-12
   listed $299,000
9. 1997-07-11
   soldstatus $149,900
10. 1996-12-02
    soldstatus $33,900

ⓘ 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: $3,026 · $252/mo
• Projected year-2 tax: $3,026 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,577
• − Mortgage interest: −$27,392
• − Property taxes: −$3,026
• − Insurance: −$3,242
• − Repairs & maintenance: −$3,886
• − Management: −$3,886
• − Depreciation: −$14,225
• Taxable loss: −$7,081
• Est. tax savings @ 24.0%: +$1,699
• After-tax cash flow: $3,034/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

+1342.5% since first listed

11 events — show timeline

• 2026-05-20 Pending — RSMLS
• 2026-05-13 Listed $489,000 RSMLS
• 2021-01-08 Sold (Public Records) $363,900 Public Records
• 2018-07-27 Listed $330,000 RSMLS
• 2016-07-19 Listed $324,900 RSMLS
• 2009-04-21 Listed $349,000 RSMLS
• 2007-12-17 Sold (Public Records) $285,000 Public Records
• 2007-12-14 Sold (MLS) $285,000 RSMLS
• 2007-04-12 Listed $299,000 RSMLS
• 1997-07-11 Sold (Public Records) $149,900 Public Records
• 1996-12-02 Sold (Public Records) $33,900 Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,026 · +1.2% YoY. Source: county tax records.