40 Folly Field Rd Unit B19 · Hilton Head Island, SC 29928

$315,000

2 bd · 2.0 ba · 888 sqft · Condo public records · 146 Days on market

Built 1980 $355/sqft · 18% below area Est $384k · 18% under

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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 +15.0/15.0
• Cash flow +7.5/30.0
• Appreciation +6.6/10.0
• 1% rule +4.3/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0

Listing remarks MLS

Beautiful lаgoοn viеw frοm this lovеlу 3rd floor Tennis Villa. No οnе above you! What a plus!

Key facts

• 3rd floor
• Tennis villa
• Lagoon view

Tags

• LAGOON VIEW
• 3RD FLOOR
• TENNIS VILLA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-391 ($-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 $292k (7.3% below list).
• Recommended offer: $277k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.8% vs local median 3.0% 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); 838 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 36% 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 $12k of equity ($2k loan paydown + $10k 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 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 24% of rent.

Recommended offer $277,200 (12.0% 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 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• GRM: 9.0

CMA / ARV

• ARV (median comp): $383,608
• List price: $315,000
• Delta: -17.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.4%
• Equity multiple: 1.20×
• Total profit: $17,529
• Equity at exit: $145,331

10-year hold

• IRR: 6.8%
• Equity multiple: 2.07×
• Total profit: $94,593
• Equity at exit: $226,887

Cash invested: $88,200 (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 29928

• Home prices YoY: 1.3%
• Rents YoY: 3.2%
• Active inventory: 838
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,920 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$218 /mo · $2,613/yr
• Insurance: −$131
• HOA est. from 12 same-building comps: −$697
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-391

Break-even live

Break-even rent $3,415

Max offer price $245,853

Occupancy floor —

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Burkes Beach Rd Unit B Hilton Head Island, SC	2.0	2.0	1100	$2,500	$2.27	13d	1	0.46mi
663 William Hilton Pkwy #2121 Hilton Head Island, SC	2.0	2.0	900	$2,200	$2.44	43d	1	0.96mi
96 Mathews Dr #87 Hilton Head Island, SC	2.0	2.0	1000	$2,500	$2.50	43d	1	1.03mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0–2.5	1000	$2,500	$2.50	21d	2	1.05mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0	1012	$2,400	$2.37	13d	2	1.05mi
662 William Hilton Pkwy Unit 1468397P Hilton Head Island, SC	2.0	2.0	828	$2,632	$3.18	21d	1	1.10mi
55 Gardner Dr Hilton Head Island, SC	1.0–3.0	1.0–2.0	1175	$2,902	$2.47	13d	9	1.29mi
112 Union Cemetery Rd Hilton Head Island, SC	2.0	2.0	1025	$2,125	$2.07	13d	1	1.49mi

HOA detail condo

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

Listing history 45 events

1. 2026-06-18
   days on market $315,000 Active 146 DOM
2. 2026-06-17
   days on market $315,000 Active 145 DOM
3. 2026-06-16
   days on market $315,000 Active 144 DOM
4. 2026-06-15
   days on market $315,000 Active 143 DOM
5. 2026-06-14
   days on market $315,000 Active 141 DOM
6. 2026-06-13
   days on market $315,000 Active 140 DOM
7. 2026-06-10
   days on market $315,000 Active 138 DOM
8. 2026-06-09
   days on market $315,000 Active 137 DOM
9. 2026-06-08
   days on market $315,000 Active 136 DOM
10. 2026-06-07
    days on market $315,000 Active 135 DOM
11. 2026-06-05
    days on market $315,000 Active 132 DOM
12. 2026-06-03
    days on market $315,000 Active 131 DOM
13. 2026-06-02
    days on market $315,000 Active 130 DOM
14. 2026-06-01
    days on market $315,000 Active 129 DOM
15. 2026-05-31
    days on market $315,000 Active 128 DOM
16. 2026-01-23
    listed $315,000 Active 117-char remark

    Show marketing remark (117 chars)

    Beautiful lаgoοn viеw frοm this lovеlу 3rd floor Tennis Villa. No οnе above you! What a plus!

17. 2024-07-02
    soldstatus $364,000
18. 2024-06-13
    soldstatus $364,000 Closed 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

19. 2024-04-04
    status Pending 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

20. 2024-03-25
    price $369,750 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

21. 2024-03-20
    price $370,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

22. 2024-03-18
    price $371,400 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

23. 2024-03-11
    price $371,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

24. 2024-03-05
    price $372,500 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

25. 2024-02-29
    price $374,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

26. 2024-02-23
    price $375,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

27. 2024-02-22
    price $377,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

28. 2024-02-16
    price $378,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

29. 2024-02-09
    price $379,900 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

30. 2024-02-05
    price $382,500 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

31. 2023-12-15
    listed $384,500 Active 555-char remark

    Show marketing remark (555 chars)

    nicely updated 2 bedroom 2 bathroom unit with proven rental history, $49,040.07 in 2022, $48,090.88 in 2023, all furnishings stay except linens / towels / cleaning supplies, which can stay if you rent and use the same cleaners, stainless steel appliances, beach front complex (not unit), 3rd floor with peaceful lagoon view, HHB & T features a large ocean front pool and restaurant, pickle ball / tennis courts, gym, laundry room on site, wonderful complex to own and enjoy with seasonal activities at the pool as well, bedrooms now have LVP flooring.

32. 2018-03-21
    soldstatus $144,000
33. 2018-03-15
    soldstatus $144,000
34. 2017-12-15
    listed $148,900
35. 2009-08-13
    soldstatus $160,000
36. 2009-08-03
    soldstatus $160,000
37. 2009-02-10
    listed $165,000
38. 2005-05-03
    soldstatus $209,900
39. 2005-04-18
    soldstatus $209,900
40. 2005-01-22
    listed $209,900
41. 2001-12-06
    soldstatus $100,000
42. 1996-08-13
    soldstatus $700,000
43. 1990-02-26
    soldstatus $36,000
44. 1983-03-01
    soldstatus $15,240
45. 1981-03-01
    soldstatus $49,900

ⓘ 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: $2,613 · $218/mo
• Projected year-2 tax: $2,613 · $218/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $35,035
• − Mortgage interest: −$17,645
• − Property taxes: −$2,613
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,803
• − Management: −$2,803
• − HOA: −$8,364
• − Depreciation: −$9,164
• Taxable loss: −$9,931
• Est. tax savings @ 24.0%: +$2,383
• After-tax cash flow: $-2,314/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

+531.3% since first listed

30 events — show timeline

• 2026-01-23 Listed $315,000 RSMLS
• 2024-07-02 Sold (Public Records) $364,000 Public Records
• 2024-06-13 Sold (MLS) $364,000 RSMLS
• 2024-04-04 Pending — RSMLS
• 2024-03-25 Price Changed $369,750 RSMLS
• 2024-03-20 Price Changed $370,900 RSMLS
• 2024-03-18 Price Changed $371,400 RSMLS
• 2024-03-11 Price Changed $371,900 RSMLS
• 2024-03-05 Price Changed $372,500 RSMLS
• 2024-02-29 Price Changed $374,900 RSMLS
• 2024-02-23 Price Changed $375,900 RSMLS
• 2024-02-22 Price Changed $377,900 RSMLS
• 2024-02-16 Price Changed $378,900 RSMLS
• 2024-02-09 Price Changed $379,900 RSMLS
• 2024-02-05 Price Changed $382,500 RSMLS
• 2023-12-15 Listed $384,500 RSMLS
• 2018-03-21 Sold (Public Records) $144,000 Public Records
• 2018-03-15 Sold (MLS) $144,000 RSMLS
• 2017-12-15 Listed $148,900 RSMLS
• 2009-08-13 Sold (Public Records) $160,000 Public Records
• 2009-08-03 Sold (MLS) $160,000 RSMLS
• 2009-02-10 Listed $165,000 RSMLS
• 2005-05-03 Sold (MLS) $209,900 RSMLS
• 2005-04-18 Sold (Public Records) $209,900 Public Records
• 2005-01-22 Listed $209,900 RSMLS
• 2001-12-06 Sold (Public Records) $100,000 Public Records
• 1996-08-13 Sold (Public Records) $700,000 Public Records
• 1990-02-26 Sold (Public Records) $36,000 Public Records
• 1983-03-01 Sold (Public Records) $15,240 Public Records
• 1981-03-01 Sold (Public Records) $49,900 Public Records

Property tax history

+5.8%/yr

Latest (2024): $2,613 · +0.5% YoY. Source: county tax records.