1000 Sea Island Rd #15 · St. Simons, GA 31522

$235,000

2 bd · 1.5 ba · 1,072 sqft · Condo · 356 Days on market

Built 1982 Fair condition $219/sqft · 16% below area Est $279k · 16% under ↓ 6% since listing

---

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 +20.1/30.0
• ARV discount +14.6/15.0
• 1% rule +8.0/10.0
• DSCR +6.4/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This condo presents the opportunity to embrace island living at its finest! Offering 2 bedrooms and 1.5 bathrooms, this condo is nestled in a corner of St Simons Island, GA, providing a comfortable and private retreat. Step outside to your private patio, perfect for enjoying morning coffee or evening sunsets in peace. The community features a pool accessible to both residents and guests. St. Simons Island offers a unique blend of Southern charm and coastal beauty, with pristine beaches, world-class golf courses, and historic landmarks such as the St Simons Lighthouse nearby. Whether you are strolling along the pier, exploring local boutiques, or dining at one of the many delicious restaurants, every day offers a new adventure on this laid back island.

Key facts

• Community pool
• Private patio
• Pristine beaches

Tags

• PRIVATE PATIO
• COMMUNITY POOL
• PRISTINE BEACHES
• WORLD-CLASS GOLF COURSES
• HISTORIC LANDMARKS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $235k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Market conditions: Rents rising (+2.3%/yr); 577 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 $7k 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 356 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $15k (6%) 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 $206,800 (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 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.30% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.35%
• DSCR: 1.24
• GRM: 6.4

CMA / ARV

• ARV (median comp): $278,855
• List price: $235,000
• Delta: -15.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.3%
• Equity multiple: 0.27×
• Total profit: $-48,203
• Equity at exit: $35,039

10-year hold

• IRR: -17.0%
• Equity multiple: 0.10×
• Total profit: $-59,532
• Equity at exit: $20,319

Cash invested: $65,800 (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: 577
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,059 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 10 same-building comps: −$499
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $-133

Break-even live

Break-even rent $3,227

Max offer price $215,740

Occupancy floor 99%

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: $58,750
• Closing costs: $7,050
• 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	44d	1	0.73mi
1704 Frederica Rd #426 Saint Simons Island, GA	2.0	2.0	1150	$2,150	$1.87	44d	1	1.14mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-05
   days on market $235,000 Active 356 DOM
2. 2026-06-03
   days on market $235,000 Active 355 DOM
3. 2026-06-02
   days on market $235,000 Active 354 DOM
4. 2026-06-01
   days on market $235,000 Active 353 DOM
5. 2026-05-31
   days on market $235,000 Active 352 DOM
6. 2026-05-30
   days on market $235,000 Active 351 DOM
7. 2025-11-06
   price $235,000 761-char remark

   Show marketing remark (761 chars)

   This condo presents the opportunity to embrace island living at its finest! Offering 2 bedrooms and 1.5 bathrooms, this condo is nestled in a corner of St Simons Island, GA, providing a comfortable and private retreat. Step outside to your private patio, perfect for enjoying morning coffee or evening sunsets in peace. The community features a pool accessible to both residents and guests. St. Simons Island offers a unique blend of Southern charm and coastal beauty, with pristine beaches, world-class golf courses, and historic landmarks such as the St Simons Lighthouse nearby. Whether you are strolling along the pier, exploring local boutiques, or dining at one of the many delicious restaurants, every day offers a new adventure on this laid back island.

8. 2025-06-09
   listed $250,000 Active 761-char remark

   Show marketing remark (761 chars)

   This condo presents the opportunity to embrace island living at its finest! Offering 2 bedrooms and 1.5 bathrooms, this condo is nestled in a corner of St Simons Island, GA, providing a comfortable and private retreat. Step outside to your private patio, perfect for enjoying morning coffee or evening sunsets in peace. The community features a pool accessible to both residents and guests. St. Simons Island offers a unique blend of Southern charm and coastal beauty, with pristine beaches, world-class golf courses, and historic landmarks such as the St Simons Lighthouse nearby. Whether you are strolling along the pier, exploring local boutiques, or dining at one of the many delicious restaurants, every day offers a new adventure on this laid back island.

9. 2025-06-04
   listed $235,000 Active 747-char remark

   Show marketing remark (747 chars)

   This condo presents opportunity to embrace island living at its finest. Offering 2 bedrooms and 1.5 bathrooms, this condo is nestled in a corner of St. Simons Island, GA, providing a comfortable and private retreat. Step outside to your private patio, perfect for enjoying morning coffee or evening sunsets in peace. The community features a pool accessible to both residents and guests. St. Simons Island offers a unique blend of Southern charm and coastal beauty, with pristine beaches, world-class golf courses, and historic landmarks such as the St. Simons Lighthouse nearby. Whether you're strolling along the pier, exploring local boutiques, or dining at the variety of restaurants, every day offers a new adventure on this laid-back island.

10. 2025-01-31
    historical
11. 2025-01-31
    historical
12. 2024-06-29
    listed $250,000
13. 2024-06-29
    listed $250,000

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

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: $36,706
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$6,294
• − Repairs & maintenance: −$2,936
• − Management: −$2,936
• − HOA: −$5,988
• − Depreciation: −$6,836
• Taxable loss: −$4,974
• Est. tax savings @ 24.0%: +$1,194
• After-tax cash flow: $-404/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

Fair 45/100 Moderate rehab

This moderate-rehab property requires some cosmetic updates to its kitchen and bathroom, as well as a new deck. With fresh paint and new cabinets, it could significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom sink and bathtub — Need cleaning
• Minor Deck — Signs of wear

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance
• Both Replace worn deck — A new deck will improve curb appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom sink and bathtub · Need cleaning	Minor	$500–3,000
Deck · Signs of wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance ↑
• Both Replace worn deck — A new deck will improve curb appeal and functionality ↑

ⓘ 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: 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

-6.0% since first listed

7 events — show timeline

• 2025-11-06 Price Changed $235,000 GIAR
• 2025-06-09 Listed $250,000 GIAR
• 2025-06-04 Listed $235,000 Hive MLS
• 2025-01-31 Listing Removed — Hive MLS
• 2025-01-31 Listing Removed — Hive MLS
• 2024-06-29 Listed $250,000 Hive MLS
• 2024-06-29 Listed $250,000 Hive MLS