156 Dillon Rd #227 · Hilton Head Island, SC 29926

$265,000

2 bd · 2.5 ba · 1,120 sqft · Condo public records · 2 Days on market

Built 1982

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Why this score? — see what drove the F 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
• Cash flow +6.8/30.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Island townhouse has a central location and a beautiful marsh view from the living room balcony. There is an extra window in the dining room that views the swimming pool because the villa is an 'end' unit. All new appliances, under-building parking, fireplace, tennis courts and swimming pools are other features. A tenant occupies @ $775/mo so you can enjoy rental income or give the tenant notice to vacate and occupy this villa as a second home or primary home.

Key facts

• New stove oven
• New refrigerator
• Newly renovated

Tags

• NEWLY RENOVATED
• GREAT VIEWS OF TIDAL MARSH
• PEEK OF PORT ROYAL SOUND
• OPEN KITCHEN
• NEW STOVE OVEN
• NEW REFRIGERATOR

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Association amenities include pool and playground; Association fees cover management, common areas, flood insurance, insurance, grounds maintenance, structure maintenance, pest control, pool(s), sewer, trash, and water

Exterior

• Utilities: Public water
• Home design: Condominium / townhouse style (unit at 156 Dillon Rd #227)
• Construction: Block and stucco construction; Asphalt roof
• Exterior features: Balcony; Patio; Community free-form pool; Has view

Interior

• Kitchen: Oven; Range; Stove; Self-cleaning oven; Dishwasher; Refrigerator; Pantry
• Bedrooms: Primary bedroom on the upper level
• Flooring: Luxury vinyl; Luxury vinyl plank; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Furnished; Fireplace; Upper level primary; Pantry
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-412 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (9.9% below list).
• Recommended offer: $239k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 4.4% 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.
• 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 soft (-0.2%/yr); 400 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

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.
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $125k; list at $265k implies a 112% gain — meaningful room to come down on a strong offer.

Recommended offer $238,866 (9.9% 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: 0.90% ✗
• Cap rate: 4.43%
• Cash-on-cash: -6.67%
• DSCR: 0.70
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -32.2%
• Equity multiple: -0.02×
• Total profit: $-75,878
• Equity at exit: $39,512

10-year hold

• IRR: -67.1%
• Equity multiple: -0.69×
• Total profit: $-125,626
• Equity at exit: $22,912

Cash invested: $74,200 (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 29926

• Home prices YoY: -26.7%
• Rents YoY: -0.2%
• Active inventory: 400
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,389 medium
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA est. from 4 same-building comps: −$468
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-412

Break-even live

Break-even rent $2,911

Max offer price $205,338

Occupancy floor —

Sensitivity live

Price	-10% $-229	-5% $-321	+0% $-412	+5% $-504	+10% $-595
Rent	-10% $-601	-5% $-507	+0% $-412	+5% $-318	+10% $-224
Rate	-1.0pp $-279	-0.5pp $-345	base $-412	+0.5pp $-481	+1.0pp $-551

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 Dillon Rd Hilton Head Island, SC	2.0	2.0–2.5	1120	$2,050	$1.83	15d	1	0.17mi
239 Beach City Rd Unit 1316239P Hilton Head Island, SC	2.0	2.0	839	$3,073	$3.66	23d	1	0.50mi
239 Beach City Rd #1120 Hilton Head Island, SC	2.0	2.0	917	$1,995	$2.18	45d	1	0.54mi
112 Union Cemetery Rd Hilton Head Island, SC	2.0	2.0	1025	$2,125	$2.07	15d	1	0.85mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-21
   remarks 687-char remark
2. 2026-06-21
   listed $265,000 Active 2 DOM

ⓘ 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: $28,664
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,293
• − Management: −$2,293
• − HOA: −$5,616
• − Depreciation: −$7,709
• Taxable loss: −$9,392
• Est. tax savings @ 24.0%: +$2,254
• After-tax cash flow: $-2,694/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): 24,458
• Household income: $97,948
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 562.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 19% Two or more races 9% Black 8%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 16% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -98.89%
• Current HPI: 271.4783
• Rent YoY: ▼ -0.16%
• 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

+249.1% since first listed

10 events — show timeline

• 2026-06-19 Listed $265,000 RSMLS
• 2007-01-11 Sold (MLS) $125,000 RSMLS
• 2006-01-12 Sold (Public Records) $125,000 Public Records
• 2005-10-13 Listed $139,000 RSMLS
• 2004-10-19 Sold (Public Records) $61,700 Public Records
• 2004-10-15 Sold (MLS) $63,500 RSMLS
• 2004-05-05 Listed $62,900 RSMLS
• 1995-07-14 Sold (Public Records) $39,000 Public Records
• 1989-06-01 Sold (Public Records) $38,000 Public Records
• 1982-12-01 Sold (Public Records) $75,900 Public Records

Property tax history

-1.6%/yr

Latest (2025): $390 · +1.5% YoY. Source: county tax records.