698 Seaside Rd · Fripp Island, SC 29920

$175,000

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 423 Days on market

Built 1953 2.00 ac lot ↓ 30% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a project? Property with potential on spacious fenced in lot with NO RESTRICTIONS and NO HOA's. Potential for the 2 acre lot to be subdivide. Being sold AS-IS WHERE IS. CASH DEAL ONLY. BACK ON THE MARKET NO FAULT OF THE SELLER.

Key facts

• 2 acre lot
• Built 1953
• Listed 423 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 0.8% in Fripp 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 328 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 423 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $75k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 423 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.41×
• Total profit: $20,216
• Equity at exit: $26,093

10-year hold

• IRR: 19.5%
• Equity multiple: 2.63×
• Total profit: $80,022
• Equity at exit: $15,131

Cash invested: $49,000 (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 29920

• Home prices YoY: -14.5%
• Active inventory: 328
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,330 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$87 /mo · $1,038/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $763

Break-even live

Break-even rent $1,363

Max offer price $175,000

Occupancy floor 62%

Sensitivity live

Price	-10% $862	-5% $813	+0% $763	+5% $714	+10% $664
Rent	-10% $579	-5% $671	+0% $763	+5% $855	+10% $947
Rate	-1.0pp $852	-0.5pp $808	base $763	+0.5pp $718	+1.0pp $672

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2024-10-01
   status Pending
2. 2024-04-27
   status Pending
3. 2024-03-23
   status Active
4. 2023-10-19
   status Active
5. 2023-04-30
   status Pending
6. 2023-04-04
   status Active
7. 2023-02-19
   status Pending
8. 2023-01-12
   price $175,000
9. 2023-01-12
   status Active
10. 2022-07-21
    listed $250,000 Active

ⓘ 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: $1,038 · $87/mo
• Projected year-2 tax: $1,038 · $87/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,957
• − Mortgage interest: −$9,803
• − Property taxes: −$1,038
• − Insurance: −$875
• − Repairs & maintenance: −$2,237
• − Management: −$2,237
• − Depreciation: −$5,091
• Taxable income: $6,677
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $7,558/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 — Fripp Island

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 9,918

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 48% White 41% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -48.29%
• Current HPI: 284.2064
• Rent YoY: —
• Metro: —
• 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

-30.0% since first listed

10 events — show timeline

• 2024-10-01 Pending — LRMLS
• 2024-04-27 Pending — LRMLS
• 2024-03-23 Relisted — LRMLS
• 2023-10-19 Relisted — LRMLS
• 2023-04-30 Pending — LRMLS
• 2023-04-04 Relisted — LRMLS
• 2023-02-19 Pending — LRMLS
• 2023-01-12 Price Changed $175,000 LRMLS
• 2023-01-12 Relisted — LRMLS
• 2022-07-21 Listed $250,000 LRMLS

Property tax history

+40.8%/yr

Latest (2025): $1,038 · +1.5% YoY. Source: county tax records.