104 Cordillo Pkwy Unit E3 · Hilton Head Island, SC 29928

$224,900

2 bd · 2.0 ba · 864 sqft · Condo · 46 Days on market

Built 1980 Good condition $260/sqft · 11% above area Est $202k · 11% over $545/mo HOA · 17% of rent

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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 +24.9/30.0
• 1% rule +9.5/10.0
• DSCR +8.1/10.0
• Appreciation +6.6/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• ARV discount +2.3/15.0

Listing remarks MLS

Welcome to this charming 2BR/2BA condo in a prime South Island location, just a short walk to Coligny Beach, shopping, and prime coastal dining. The roommate-style floor plan offers each bedroom its own bathroom access, with a shared tub and separate vanities and toilets for added privacy. The updated kitchen features an island, new cabinetry, tile backsplash, and an ultra-quiet dishwasher. Recent upgrades include a 2023 range and refrigerator, 2022 air handler with I-wave system, and 2023 LVT flooring. HOA covers cable, Wi-Fi, water, sewer, trash, exterior maintenance, and amenities including the pool and laundry facilities--making this an ideal primary residence, vacation getaway, or investment opportunity. Come enjoy easy island living today.

Key facts

• $545 HOA
• Community pool
• Built 1980

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.
• Market conditions: Rents rising (+3.2%/yr); 845 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• This rent runs 40% 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 $9k of equity ($2k loan paydown + $7k 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 $63k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $225k implies a 183% gain — meaningful room to come down on a strong offer.

Recommended offer $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
7. 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.
8. 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: 1.45% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.15%
• DSCR: 1.41
• GRM: 5.7

CMA / ARV

• ARV (median comp): $201,726
• List price: $224,900
• Delta: 11.49%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.8%
• Equity multiple: 1.97×
• Total profit: $61,311
• Equity at exit: $103,762

10-year hold

• IRR: 18.4%
• Equity multiple: 3.76×
• Total profit: $173,979
• Equity at exit: $161,990

Cash invested: $62,972 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,265 high
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$545
• Vacancy / Maint / Mgmt: −$686
• Net cashflow: $480

Break-even live

Break-even rent $2,657

Max offer price $224,900

Occupancy floor 80%

Sensitivity live

Price	-10% $636	-5% $558	+0% $480	+5% $403	+10% $325
Rent	-10% $222	-5% $351	+0% $480	+5% $609	+10% $738
Rate	-1.0pp $594	-0.5pp $538	base $480	+0.5pp $422	+1.0pp $363

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Deallyon Ave Unit 1498585P Hilton Head Island, SC	2.0	2.5	990	$2,706	$2.73	14d	1	0.23mi
19 Lemoyne Ave Unit 1470518P Hilton Head Island, SC	2.0	2.5	1033	$2,673	$2.59	14d	1	0.31mi
10 Lemoyne Ave Unit 1322533P Hilton Head Island, SC	2.0	2.0	839	$4,267	$5.09	14d	1	0.43mi
23 S Forest Beach Dr Unit 1316238P Hilton Head Island, SC	1.0	1.0	645	$3,185	$4.94	22d	1	0.57mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	14d	1	0.67mi
217 Cordillo Pkwy Unit C7 Hilton Head Island, SC	1.0	1.0	850	$1,795	$2.11	14d	1	0.95mi

HOA detail condo

• Monthly dues: $545 · $6,540/yr
• Likely covers: watersewertrashinternetcableexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $224,900 Active 46 DOM
2. 2026-06-18
   days on market $224,900 Active 43 DOM
3. 2026-06-17
   days on market $224,900 Active 42 DOM
4. 2026-06-16
   days on market $224,900 Active 41 DOM
5. 2026-06-15
   days on market $224,900 Active 40 DOM
6. 2026-06-14
   days on market $224,900 Active 38 DOM
7. 2026-06-13
   days on market $224,900 Active 37 DOM
8. 2026-06-10
   days on market $224,900 Active 35 DOM
9. 2026-06-09
   days on market $224,900 Active 34 DOM
10. 2026-06-08
    days on market $224,900 Active 33 DOM
11. 2026-06-07
    pricedays on market $224,900 Active 32 DOM
12. 2026-06-05
    days on market $244,900 Active 29 DOM
13. 2026-06-03
    days on market $244,900 Active 28 DOM
14. 2026-06-02
    days on market $244,900 Active 27 DOM
15. 2026-06-01
    days on market $244,900 Active 26 DOM
16. 2026-05-31
    days on market $244,900 Active 25 DOM
17. 2026-05-30
    days on market $244,900 Active 24 DOM
18. 2026-05-06
    listed $244,900 Active 761-char remark

    Show marketing remark (761 chars)

    Welcome to this charming 2BR/2BA condo in a prime South Island location, just a short walk to Coligny Beach, shopping, and prime coastal dining. The roommate-style floor plan offers each bedroom its own bathroom access, with a shared tub and separate vanities and toilets for added privacy. The updated kitchen features an island, new cabinetry, tile backsplash, and an ultra-quiet dishwasher. Recent upgrades include a 2023 range and refrigerator, 2022 air handler with I-wave system, and 2023 LVT flooring. HOA covers cable, Wi-Fi, water, sewer, trash, exterior maintenance, and amenities including the pool and laundry facilities--making this an ideal primary residence, vacation getaway, or investment opportunity. Come enjoy easy island living today.

19. 2025-09-05
    status Active
20. 2025-08-04
    status Active
21. 2025-06-25
    price $230,000
22. 2025-06-25
    price $230,000
23. 2025-05-14
    status Active
24. 2025-05-07
    historical Under Contract - Take Backup
25. 2025-04-30
    price $240,000
26. 2025-04-30
    price $240,000
27. 2024-09-24
    listed $250,000 Active
28. 2024-09-18
    listed $250,000
29. 2020-06-30
    soldstatus $79,500
30. 2020-02-26
    listed $79,900

ⓘ 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: $39,185
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,135
• − Management: −$3,135
• − HOA: −$6,540
• − Depreciation: −$6,543
• Taxable income: $2,737
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $5,108/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 80/100 Cosmetic rehab

This well-maintained and updated condo is in good condition with recent upgrades and a prime location, making it an ideal primary residence or vacation getaway.

Value-add opportunities

• Both landscaping and curb appeal — enhances curb appeal and resale value
• Both interior paint — fresh paint can improve the home's appearance and value
• Both kitchen appliances — newer appliances can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping and curb appeal — enhances curb appeal and resale value ↑
• Both interior paint — fresh paint can improve the home's appearance and value ↑
• Both kitchen appliances — newer appliances can increase both resale and rental value ↑

ⓘ 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

+206.5% since first listed

13 events — show timeline

• 2026-05-06 Listed $244,900 LRMLS
• 2025-09-05 Relisted — LRMLS
• 2025-08-04 Relisted — LRMLS
• 2025-06-25 Price Changed $230,000 RSMLS
• 2025-06-25 Price Changed $230,000 LRMLS
• 2025-05-14 Relisted — LRMLS
• 2025-05-07 Contingent — LRMLS
• 2025-04-30 Price Changed $240,000 RSMLS
• 2025-04-30 Price Changed $240,000 LRMLS
• 2024-09-24 Listed $250,000 LRMLS
• 2024-09-18 Listed $250,000 RSMLS
• 2020-06-30 Sold (MLS) $79,500 RSMLS
• 2020-02-26 Listed $79,900 RSMLS