1000 New Sea Island Rd #63 · St. Simons, GA 31522

$250,000

2 bd · 1.5 ba · 1,072 sqft · Condo public records · 31 Days on market

Built 1982 $538/mo HOA · 18% of rent

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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 +18.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +5.9/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SELLER WANTS IT GONE! Beautifully furnished 2-bedroom turnkey unit located just moments from the beach. Designed with high-end furnishings and effortless coastal living in mind, this property offers the perfect blend of comfort, convenience, and low-maintenance living. Enjoy peaceful lagoon views filled with abundant wildlife from your private outdoor deck — the perfect place to relax and unwind. After a day at the beach, rinse off sandy toes or paws in the convenient outdoor shower. Inside, you’ll find a full-size washer and dryer, spacious living areas, and everything needed for move-in-ready enjoyment. Residents also enjoy access to a beautifully maintained pool area, making

Key facts

• Lagoon views
• Pool area
• Outdoor shower

Tags

• PRIVATE OUTDOOR DECK
• OUTDOOR SHOWER
• LAGOON VIEWS
• POOL AREA

Property features AI

Finance

• HOA & community: Homeowners association: Gascoigne Condos; Monthly association fee of $538.50 (includes water)

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water
• Home design: Condo (association-managed)
• Construction: Asphalt roof; Home warranty included
• Exterior features: Private pool

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Garbage disposal
• Bedrooms: Total of 5 rooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Furnished; Electric fireplace in the den
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (12.4% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $219k (12.4% below list) — sets the bar for cash-flow.
• Cap rate 7.5% 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 C — 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.
• Zoned schools: St. Simons Elementary School (math 64% / reading 57%, grade B-, #123 of 1,228 statewide, top 10%, 523 students, 48% FRL); Glynn Middle (math 42% / reading 58%, grade C, #68 of 470 statewide, top 15%, 815 students, 51% FRL); Glynn Academy (math 45% / reading 42%, grade F, #50 of 424 statewide, top 12%, 1,823 students, 41% FRL).
• Market conditions: Rents rising (+2.3%/yr); 579 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 734 units permitted in Glynn County in 2024 (136 in 5+ unit buildings).
• This rent runs 34% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $40k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,929 (12.4% 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 31 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.22% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -22.3%
• Equity multiple: 0.24×
• Total profit: $-53,397
• Equity at exit: $37,276

10-year hold

• IRR: -18.7%
• Equity multiple: 0.03×
• Total profit: $-67,719
• Equity at exit: $21,615

Cash invested: $70,000 (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: 579
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,062 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$215 /mo · $2,581/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$538
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $-176

Break-even live

Break-even rent $3,285

Max offer price $218,929

Occupancy floor —

Sensitivity live

Price	-10% $-34	-5% $-105	+0% $-176	+5% $-247	+10% $-317
Rent	-10% $-418	-5% $-297	+0% $-176	+5% $-55	+10% $66
Rate	-1.0pp $-50	-0.5pp $-112	base $-176	+0.5pp $-241	+1.0pp $-307

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 Shady Brook Cir #100 Saint Simons Island, GA	3.0	2.0	1500	$4,950	$3.30	45d	1	0.72mi
1704 Frederica Rd #426 Saint Simons Island, GA	2.0	2.0	1150	$2,150	$1.87	45d	1	1.15mi

HOA detail condo

• Monthly dues: $538 · $6,456/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-08
   days on market $250,000 Active 31 DOM
2. 2026-06-07
   days on market $250,000 Active 30 DOM
3. 2026-06-05
   days on market $250,000 Active 27 DOM
4. 2026-06-03
   days on market $250,000 Active 26 DOM
5. 2026-06-02
   days on market $250,000 Active 25 DOM
6. 2026-06-01
   days on market $250,000 Active 24 DOM
7. 2026-05-31
   days on market $250,000 Active 23 DOM
8. 2026-05-30
   days on market $250,000 Active 22 DOM
9. 2026-05-06
   listed $250,000 Active 779-char remark
10. 2024-10-16
    soldstatus $266,000
11. 2024-09-12
    soldstatus $266,000 Closed 602-char remark
12. 2024-08-27
    status Pending 602-char remark
13. 2024-08-20
    listed $268,000 Active 602-char remark
14. 2024-08-13
    historical
15. 2024-07-10
    price $270,000
16. 2024-05-14
    price $279,900
17. 2024-02-09
    listed $289,500 Active
18. 2024-01-25
    historical
19. 2023-11-27
    listed $289,500 Active
20. 2022-04-01
    soldstatus $255,000
21. 2022-04-01
    soldstatus $255,000
22. 2022-02-28
    listed $269,900
23. 2020-11-06
    soldstatus $182,000
24. 2020-10-15
    listed $186,000
25. 2020-09-22
    historical
26. 2020-07-19
    listed $188,000
27. 2018-04-05
    soldstatus $165,000
28. 2013-10-01
    soldstatus $110,000
29. 2013-09-30
    soldstatus $110,000
30. 2013-04-27
    listed $117,900
31. 2013-04-24
    historical
32. 2012-09-24
    listed $124,900
33. 2004-12-16
    soldstatus $130,000
34. 2004-12-16
    soldstatus $130,000
35. 2004-10-19
    listed $139,000

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

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $2,581 · $215/mo
• Projected year-2 tax: $2,581 · $215/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 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: $36,743
• − Mortgage interest: −$14,004
• − Property taxes: −$2,581
• − Insurance: −$6,368
• − Repairs & maintenance: −$2,939
• − Management: −$2,939
• − HOA: −$6,456
• − Depreciation: −$7,273
• Taxable loss: −$5,818
• Est. tax savings @ 24.0%: +$1,396
• After-tax cash flow: $-714/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: 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

+91.4% since first listed

19 events — show timeline

• 2024-10-16 Sold (Public Records) $266,000 Public Records
• 2024-08-13 Listing Removed — GIAR
• 2024-07-10 Price Changed $270,000 GIAR
• 2024-05-14 Price Changed $279,900 GIAR
• 2024-02-09 Listed $289,500 GIAR
• 2024-01-25 Listing Removed — GIAR
• 2023-11-27 Listed $289,500 GIAR
• 2022-04-01 Sold (Public Records) $255,000 Public Records
• 2020-09-22 Listing Removed — GIAR
• 2020-07-19 Listed $188,000 GIAR
• 2018-04-05 Sold (Public Records) $165,000 Public Records
• 2013-10-01 Sold (Public Records) $110,000 Public Records
• 2013-09-30 Sold (MLS) $110,000 GIAR
• 2013-04-27 Listed $117,900 GIAR
• 2013-04-24 Listing Removed — GIAR
• 2012-09-24 Listed $124,900 GIAR
• 2004-12-16 Sold (Public Records) $130,000 Public Records
• 2004-12-16 Sold (MLS) $130,000 GIAR
• 2004-10-19 Listed $139,000 GIAR

Property tax history

+8.7%/yr

Latest (2025): $2,581 · +0.0% YoY. Source: county tax records.