4 N Forest Beach Dr #119 · Hilton Head Island, SC 29928

$389,900

1 bd · 1.0 ba · 518 sqft · Condo public records · 8 Days on market

Built 1979

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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).

• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks

Exceрtiοnal οрportunitу tο own an oceanfront villa on thе hіghly desirable South End at an incredible value. Just steps from the beach and oceanfront pool, this furnished retreat offers the perfect setting to enjoy coastal living with refreshing ocean breezes and beautiful water views from your private deck. Convenient covered parking adds to the ease of ownership, while the prime location places you within near distance of Celebration Park, shopping, dining, entertainment, and all of the South End's most popular amenities. Offering outstanding potential, this villa presents a wonderful opportunity for a buyer to add their personal touches and updates while building

Key facts

• Private deck
• Covered parking
• Beachfront location

Tags

• OCEANFRONT VILLA
• OCEANFRONT POOL
• PRIVATE DECK
• COVERED PARKING
• PRIME LOCATION
• BEACHFRONT LOCATION

Property features AI

Finance

• Other: No pets allowed
• HOA & community: Association covers management, common areas, grounds maintenance, structure maintenance, pest control, sewer, trash and water; Community amenities include beach access/rights, playground, pool and trails

Exterior

• Parking: Unassigned parking
• Security: Security guard
• Utilities: Public water
• Home design: Condominium / Unit
• Construction: Wood siding construction; Asphalt roof
• Exterior features: Balcony; Community pool with solar heating; Waterfront; Has a view

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (Electric, Heat Pump); Central air (Electric)
• Interior features: Furnished; Ceiling fan(s); Cable TV
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $390k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/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 $344k (11.9% below list).
• Recommended offer: $344k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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; 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 42% 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 $15k of equity ($3k loan paydown + $13k 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 ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $78k; list at $390k implies a 400% gain — meaningful room to come down on a strong offer.

Recommended offer $343,657 (11.9% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.19%
• DSCR: 0.86
• GRM: 9.5

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: 5.3%
• Equity multiple: 1.31×
• Total profit: $33,805
• Equity at exit: $179,887

10-year hold

• IRR: 8.4%
• Equity multiple: 2.31×
• Total profit: $142,525
• Equity at exit: $280,835

Cash invested: $109,172 (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: 9.5×

Monthly cashflow live

• Estimated rent: $3,437 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$248 /mo · $2,979/yr
• Insurance: −$162
• HOA est. from 15 same-building comps: −$550
• Vacancy / Maint / Mgmt: −$722
• Net cashflow: $-290

Break-even live

Break-even rent $3,804

Max offer price $338,585

Occupancy floor —

Sensitivity live

Price	-10% $-70	-5% $-180	+0% $-290	+5% $-401	+10% $-511
Rent	-10% $-562	-5% $-426	+0% $-290	+5% $-155	+10% $-19
Rate	-1.0pp $-94	-0.5pp $-191	base $-290	+0.5pp $-392	+1.0pp $-494

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 N Forest Beach Dr Unit 1436439P Hilton Head Island, SC	1.0	1.0	516	$4,092	$7.93	44d	1	0.03mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	14d	1	0.25mi
23 S Forest Beach Dr Unit 1316238P Hilton Head Island, SC	1.0	1.0	645	$3,185	$4.94	21d	1	0.40mi
10 Lemoyne Ave Hilton Head Island, SC	1.0	1.0	500	$1,700	$3.40	14d	1	0.62mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-18
   days on market $389,900 Active 8 DOM
2. 2026-06-17
   days on market $389,900 Active 7 DOM
3. 2026-06-16
   days on market $389,900 Active 6 DOM
4. 2026-06-15
   days on market $389,900 Active 5 DOM
5. 2026-06-14
   days on market $389,900 Active 3 DOM
6. 2026-06-13
   remarks 675-char remark
7. 2026-06-13
   listed $389,900 Active 2 DOM

ⓘ 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: $2,979 · $248/mo
• Projected year-2 tax: $2,979 · $248/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: $41,239
• − Mortgage interest: −$21,840
• − Property taxes: −$2,979
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,299
• − Management: −$3,299
• − HOA: −$6,600
• − Depreciation: −$11,343
• Taxable loss: −$10,071
• Est. tax savings @ 24.0%: +$2,417
• After-tax cash flow: $-1,069/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

+469.2% since first listed

5 events — show timeline

• 2026-06-10 Listed $389,900 RSMLS
• 1994-12-30 Sold (Public Records) $78,000 Public Records
• 1993-06-25 Sold (Public Records) $68,000 Public Records
• 1984-10-01 Sold (Public Records) $66,000 Public Records
• 1981-01-01 Sold (Public Records) $68,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,979 · +1.2% YoY. Source: county tax records.