45 Folly Field Rd Unit 10I · Hilton Head Island, SC 29928

$319,900

2 bd · 2.0 ba · 757 sqft · Condo public records · 212 Days on market

Built 1980 $423/sqft · 8% below area Est $349k · 8% 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 +11.3/15.0
• Cash flow +6.9/30.0
• Appreciation +6.6/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0

Listing remarks MLS

Flipflop dіstаncе tο beach! Τhіs top floor corner Villa іѕ just a few steps from the Beach Access Gate & Outdoor Shower! Discover your perfect Hilton Head Island retreat, a beautifully renovated and fully furnished 2-bedroom, 2-bathroom villa. Located in the highly sought-after, gated community of Fiddler's Cove, this turn-key villa offers an unparalleled blend of comfort, convenience, and investment potential. Step inside to find a thoughtfully updated interior boasting modern upgrades. The open living space features stylish vinyl plank flooring throughout and smooth ceilings. The gourmet kitchen is a chef's delight with stainless steel appliances and open to the living area. This villa comes fully equipped and ready for fun, making it truly move-in ready or an ideal rental property. Recent upgrades include a new roof in 2018, and a new water heater in 2024. This meticulously kept condo is a fan favorite with new and repeat guests. HOA Dues Include: Building Maintenance, Cable, Capital Reserve, Common Electric, Common Sewer, Common Water, Garbage Service Included, Internet, Landscaping, Management, Pest Control, Pool Maintenance, Refuse, T-Court Maintenance, Unit Specific Water-Included. The community offers 10 tennis courts, 4 playground areas for the kids, 2 swimming pools, a hot tub, and 2 indoor racquetball courts. Fiddler's Cove is a gated community with 24 hour on-site security. community with 24 hour on-site security.

Key facts

• Community pool
• Built 1980
• Listed 212 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $-484 ($-6k/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 (8.7% below list).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.5% 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 22d 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 212 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $29k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $281,512 (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 212 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: 0.91% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.48%
• DSCR: 0.71
• GRM: 9.1

CMA / ARV

• ARV (median comp): $348,999
• List price: $319,900
• Delta: -8.34%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.14×
• Total profit: $12,340
• Equity at exit: $147,591

10-year hold

• IRR: 6.0%
• Equity multiple: 1.94×
• Total profit: $84,327
• Equity at exit: $230,416

Cash invested: $89,572 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,920 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$479 /mo · $5,750/yr
• Insurance: −$133
• HOA est. from 18 same-building comps: −$500
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-484

Break-even live

Break-even rent $3,532

Max offer price $234,472

Occupancy floor —

Sensitivity live

Price	-10% $-302	-5% $-393	+0% $-484	+5% $-574	+10% $-665
Rent	-10% $-714	-5% $-599	+0% $-484	+5% $-368	+10% $-253
Rate	-1.0pp $-322	-0.5pp $-402	base $-484	+0.5pp $-566	+1.0pp $-651

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: $79,975
• Closing costs: $9,597
• 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	14d	1	0.71mi
96 Mathews Dr #87 Hilton Head Island, SC	2.0	2.0	1000	$2,500	$2.50	44d	1	0.94mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0	1012	$2,400	$2.37	14d	2	0.94mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0–2.5	1000	$2,500	$2.50	21d	2	0.94mi
112 Union Cemetery Rd Hilton Head Island, SC	2.0	2.0	1025	$2,125	$2.07	14d	1	1.21mi
55 Gardner Dr Hilton Head Island, SC	1.0–3.0	1.0–2.0	1175	$2,902	$2.47	14d	9	1.22mi
663 William Hilton Pkwy #2121 Hilton Head Island, SC	2.0	2.0	900	$2,200	$2.44	44d	1	1.24mi
662 William Hilton Pkwy Unit 1468397P Hilton Head Island, SC	2.0	2.0	828	$2,632	$3.18	21d	1	1.35mi

HOA detail condo

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

Listing history 25 events

1. 2026-06-18
   days on market $319,900 Active 212 DOM
2. 2026-06-17
   days on market $319,900 Active 211 DOM
3. 2026-06-16
   days on market $319,900 Active 210 DOM
4. 2026-06-15
   days on market $319,900 Active 209 DOM
5. 2026-06-14
   days on market $319,900 Active 207 DOM
6. 2026-06-13
   days on market $319,900 Active 206 DOM
7. 2026-06-10
   days on market $319,900 Active 204 DOM
8. 2026-06-09
   days on market $319,900 Active 203 DOM
9. 2026-06-08
   days on market $319,900 Active 202 DOM
10. 2026-06-07
    days on market $319,900 Active 201 DOM
11. 2026-06-05
    days on market $319,900 Active 198 DOM
12. 2026-06-03
    days on market $319,900 Active 197 DOM
13. 2026-06-02
    days on market $319,900 Active 196 DOM
14. 2026-06-01
    days on market $319,900 Active 195 DOM
15. 2026-05-31
    days on market $319,900 Active 194 DOM
16. 2026-03-04
    price $319,900 1469-char remark

    Show marketing remark (1469 chars)

    Flipflop dіstаncе tο beach! Τhіs top floor corner Villa іѕ just a few steps from the Beach Access Gate & Outdoor Shower! Discover your perfect Hilton Head Island retreat, a beautifully renovated and fully furnished 2-bedroom, 2-bathroom villa. Located in the highly sought-after, gated community of Fiddler's Cove, this turn-key villa offers an unparalleled blend of comfort, convenience, and investment potential. Step inside to find a thoughtfully updated interior boasting modern upgrades. The open living space features stylish vinyl plank flooring throughout and smooth ceilings. The gourmet kitchen is a chef's delight with stainless steel appliances and open to the living area. This villa comes fully equipped and ready for fun, making it truly move-in ready or an ideal rental property. Recent upgrades include a new roof in 2018, and a new water heater in 2024. This meticulously kept condo is a fan favorite with new and repeat guests. HOA Dues Include: Building Maintenance, Cable, Capital Reserve, Common Electric, Common Sewer, Common Water, Garbage Service Included, Internet, Landscaping, Management, Pest Control, Pool Maintenance, Refuse, T-Court Maintenance, Unit Specific Water-Included. The community offers 10 tennis courts, 4 playground areas for the kids, 2 swimming pools, a hot tub, and 2 indoor racquetball courts. Fiddler's Cove is a gated community with 24 hour on-site security. community with 24 hour on-site security.

17. 2025-11-18
    listed $349,000 Active 1469-char remark

    Show marketing remark (1469 chars)

    Flipflop dіstаncе tο beach! Τhіs top floor corner Villa іѕ just a few steps from the Beach Access Gate & Outdoor Shower! Discover your perfect Hilton Head Island retreat, a beautifully renovated and fully furnished 2-bedroom, 2-bathroom villa. Located in the highly sought-after, gated community of Fiddler's Cove, this turn-key villa offers an unparalleled blend of comfort, convenience, and investment potential. Step inside to find a thoughtfully updated interior boasting modern upgrades. The open living space features stylish vinyl plank flooring throughout and smooth ceilings. The gourmet kitchen is a chef's delight with stainless steel appliances and open to the living area. This villa comes fully equipped and ready for fun, making it truly move-in ready or an ideal rental property. Recent upgrades include a new roof in 2018, and a new water heater in 2024. This meticulously kept condo is a fan favorite with new and repeat guests. HOA Dues Include: Building Maintenance, Cable, Capital Reserve, Common Electric, Common Sewer, Common Water, Garbage Service Included, Internet, Landscaping, Management, Pest Control, Pool Maintenance, Refuse, T-Court Maintenance, Unit Specific Water-Included. The community offers 10 tennis courts, 4 playground areas for the kids, 2 swimming pools, a hot tub, and 2 indoor racquetball courts. Fiddler's Cove is a gated community with 24 hour on-site security. community with 24 hour on-site security.

18. 2023-05-17
    soldstatus $373,000
19. 2023-03-30
    listed $365,000
20. 2019-11-22
    soldstatus $157,500
21. 2019-11-22
    soldstatus $157,500
22. 2019-10-18
    listed $159,900
23. 1999-11-24
    soldstatus $79,000
24. 1984-08-01
    soldstatus $61,000
25. 1966-08-01
    soldstatus $66,900

ⓘ 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: $5,750 · $479/mo
• Projected year-2 tax: $5,750 · $479/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: −$17,919
• − Property taxes: −$5,750
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,803
• − Management: −$2,803
• − HOA: −$6,000
• − Depreciation: −$9,306
• Taxable loss: −$11,146
• Est. tax savings @ 24.0%: +$2,675
• After-tax cash flow: $-3,128/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

+378.2% since first listed

10 events — show timeline

• 2026-03-04 Price Changed $319,900 RSMLS
• 2025-11-18 Listed $349,000 RSMLS
• 2023-05-17 Sold (Public Records) $373,000 Public Records
• 2023-03-30 Listed $365,000 RSMLS
• 2019-11-22 Sold (Public Records) $157,500 Public Records
• 2019-11-22 Sold (MLS) $157,500 RSMLS
• 2019-10-18 Listed $159,900 RSMLS
• 1999-11-24 Sold (Public Records) $79,000 Public Records
• 1984-08-01 Sold (Public Records) $61,000 Public Records
• 1966-08-01 Sold (Public Records) $66,900 Public Records

Property tax history

+13.5%/yr

Latest (2025): $5,750 · +1.3% YoY. Source: county tax records.