42 S Forest Beach Dr #3202 · Hilton Head Island, SC 29928

$345,000

1 bd · 1.0 ba · 700 sqft · Condo · 53 Days on market

Built 1972

---

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 +7.5/15.0
• Appreciation +6.6/10.0
• Cash flow +5.2/30.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Enjoy daily some of the most amazing and peaceful views in all of Seascape Villas at this top floor, end unit. Located upfront and steps to the beach, this lovely villa has been meticulously cared for. Several recent improvements include a new kitchen with Quartz countertops and new cabinets. All appliances are stainless steel, luxury plank flooring, recently painted, new interior doors, new 12X8 hurricane resistant - code compliant sliding door and more. Easy walk to Coligny Plaza, Celebration Park, restaurants, shops, tennis and all South End amenities. Owners enjoy oceanfront cabanas and restrooms. Excellent move in ready property!

Key facts

• Lagoon views
• Sliding glass doors
• Oceanfront cabana

Tags

• TOP-FLOOR END VILLA
• OCEANFRONT CABANA
• PRIVATE RESTROOMS
• NEW INTERIOR DOORS
• SLIDING GLASS DOORS
• LAGOON VIEWS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $345k.

Deal economics

• At list price, monthly cash flow is $-777 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (23.7% below list).
• Recommended offer: $263k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 3.6% vs local median 3.0% in Hilton Head Island — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 4 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 32% 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 $13k of equity ($2k loan paydown + $11k 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 ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $263,158 (23.7% 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 53 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 0.76% ✗
• Cap rate: 3.59%
• Cash-on-cash: -9.66%
• DSCR: 0.57
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.6%
• Equity multiple: 0.97×
• Total profit: $-3,202
• Equity at exit: $159,172

10-year hold

• IRR: 3.6%
• Equity multiple: 1.57×
• Total profit: $54,686
• Equity at exit: $248,495

Cash invested: $96,600 (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: 10.9×

Monthly cashflow live

• Estimated rent: $2,632 medium
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA est. from 2 same-building comps: −$472
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-777

Break-even live

Break-even rent $3,615

Max offer price $232,528

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Lemoyne Ave Hilton Head Island, SC	1.0	1.0	500	$1,700	$3.40	14d	1	0.11mi
23 S Forest Beach Dr Unit 1316238P Hilton Head Island, SC	1.0	1.0	645	$3,185	$4.94	21d	1	0.34mi
4 N Forest Beach Dr Unit 1436439P Hilton Head Island, SC	1.0	1.0	516	$4,092	$7.93	44d	1	0.69mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	14d	1	0.82mi

HOA detail condo

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

Listing history 9 events

1. 2026-04-14
   status Pending
2. 2026-03-31
   historical Active Under Contract
3. 2026-03-23
   price $345,000
4. 2026-03-01
   price $355,000
5. 2026-02-06
   listed $365,000 Active
6. 2024-02-28
   soldstatus $330,000 Closed 642-char remark

   Show marketing remark (642 chars)

   Enjoy daily some of the most amazing and peaceful views in all of Seascape Villas at this top floor, end unit. Located upfront and steps to the beach, this lovely villa has been meticulously cared for. Several recent improvements include a new kitchen with Quartz countertops and new cabinets. All appliances are stainless steel, luxury plank flooring, recently painted, new interior doors, new 12X8 hurricane resistant - code compliant sliding door and more. Easy walk to Coligny Plaza, Celebration Park, restaurants, shops, tennis and all South End amenities. Owners enjoy oceanfront cabanas and restrooms. Excellent move in ready property!

7. 2024-02-02
   status Pending 642-char remark

   Show marketing remark (642 chars)

   Enjoy daily some of the most amazing and peaceful views in all of Seascape Villas at this top floor, end unit. Located upfront and steps to the beach, this lovely villa has been meticulously cared for. Several recent improvements include a new kitchen with Quartz countertops and new cabinets. All appliances are stainless steel, luxury plank flooring, recently painted, new interior doors, new 12X8 hurricane resistant - code compliant sliding door and more. Easy walk to Coligny Plaza, Celebration Park, restaurants, shops, tennis and all South End amenities. Owners enjoy oceanfront cabanas and restrooms. Excellent move in ready property!

8. 2024-01-29
   status Active 642-char remark

   Show marketing remark (642 chars)

   Enjoy daily some of the most amazing and peaceful views in all of Seascape Villas at this top floor, end unit. Located upfront and steps to the beach, this lovely villa has been meticulously cared for. Several recent improvements include a new kitchen with Quartz countertops and new cabinets. All appliances are stainless steel, luxury plank flooring, recently painted, new interior doors, new 12X8 hurricane resistant - code compliant sliding door and more. Easy walk to Coligny Plaza, Celebration Park, restaurants, shops, tennis and all South End amenities. Owners enjoy oceanfront cabanas and restrooms. Excellent move in ready property!

9. 2024-01-24
   listed $329,500 642-char remark

   Show marketing remark (642 chars)

   Enjoy daily some of the most amazing and peaceful views in all of Seascape Villas at this top floor, end unit. Located upfront and steps to the beach, this lovely villa has been meticulously cared for. Several recent improvements include a new kitchen with Quartz countertops and new cabinets. All appliances are stainless steel, luxury plank flooring, recently painted, new interior doors, new 12X8 hurricane resistant - code compliant sliding door and more. Easy walk to Coligny Plaza, Celebration Park, restaurants, shops, tennis and all South End amenities. Owners enjoy oceanfront cabanas and restrooms. Excellent move in ready property!

ⓘ 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: $31,579
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,526
• − Management: −$2,526
• − HOA: −$5,664
• − Depreciation: −$10,036
• Taxable loss: −$15,399
• Est. tax savings @ 24.0%: +$3,696
• After-tax cash flow: $-5,631/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

+4.7% since first listed

9 events — show timeline

• 2026-04-14 Pending — RSMLS
• 2026-03-31 Contingent — RSMLS
• 2026-03-23 Price Changed $345,000 RSMLS
• 2026-03-01 Price Changed $355,000 RSMLS
• 2026-02-06 Listed $365,000 RSMLS
• 2024-02-28 Sold (MLS) $330,000 RSMLS
• 2024-02-02 Pending — RSMLS
• 2024-01-29 Relisted — RSMLS
• 2024-01-24 Listed $329,500 RSMLS