10 Yacht Cove Dr #205 · Hilton Head Island, SC 29928

$477,000

3 bd · 3.0 ba · 1,510 sqft · Condo public records · 56 Days on market

Built 1989 $316/sqft · at area comps Est $496k · at est.

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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 +14.1/30.0
• ARV discount +9.2/15.0
• Appreciation +6.6/10.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Yacht Cove condo completely remodeled with upgrades, style and colors. Everything is new. The flooring is a beautiful luxury vinyl plank. The kitchen has been expanded to include granite countertops, tall cabinets and stainless steel appliances. Take your coffee to the outdoor deck overlooking the pond and Island landscape. The three full bathrooms include two walk-ins and one tub with upgraded vanities and lights. The three bedrooms are spacious with a master bedroom suite designed for your next escape. Also, the entire exterior of the building and decks have recently been repaired and repainted.

Key facts

• Updated kitchen
• Oversized garage
• 2 garage spots

Tags

• UPDATED KITCHEN
• LARGE PRIVATE BACK DECK
• OVERSIZED GARAGE

Property features AI

Finance

• HOA & community: HOA covers maintenance of grounds; HOA covers pest control; HOA covers trash service

Exterior

• Parking: Attached garage; Two-car garage; Unfinished garage
• Security: Fire sprinkler system
• Utilities: Public water
• Home design: Condo/Apartment building; Faces east; Has a view
• Construction: Wood siding construction; Asphalt roof
• Exterior features: Balcony; Rear porch; Front porch; Patio; Paved driveway

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Self-cleaning oven; Refrigerator; Eat-in kitchen; Pantry
• Bedrooms: Upper-level primary bedroom
• Flooring: Ceramic tile; Luxury vinyl; Luxury vinyl plank
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump heating; Central air conditioning; Electric cooling; Heat pump cooling
• Interior features: Ceiling fan(s); Fireplace with screen; Multiple closets; Pull-down attic stairs; Smooth ceilings; Smart thermostat; Upper-level primary suite; Unfinished walls; Window treatments; Entrance foyer; Eat-in kitchen; Pantry; Workshop; Screened windows
• Laundry & utility: Washer; Dryer; Utility room; Laundry room; Storage room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $477k.

Deal economics

• At list price, monthly cash flow is $66 ($787/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $404k (15.4% below list).
• Recommended offer: $404k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• At $4,036/mo this rent would consume 50% of the median local household income ($98k/yr) (locally 216% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($3k loan paydown + $15k appreciation (3.2% local appreciation)).
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.2% appreciation + 3.2% rent growth), your $134k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($463k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $403,579 (15.4% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.85% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (median comp): $495,517
• List price: $477,000
• Delta: -3.74%
• 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: 8.7%
• Equity multiple: 1.51×
• Total profit: $67,785
• Equity at exit: $220,072

10-year hold

• IRR: 11.2%
• Equity multiple: 2.72×
• Total profit: $230,344
• Equity at exit: $343,571

Cash invested: $133,560 (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: 9.8×

Monthly cashflow live

• Estimated rent: $4,036 high
• Mortgage (P&I): −$2,501
• Tax from tax record: −$423 /mo · $5,070/yr
• Insurance: −$199
• HOA: −$0
• Vacancy / Maint / Mgmt: −$848
• Net cashflow: $66

Break-even live

Break-even rent $3,953

Max offer price $477,000

Occupancy floor 93%

Sensitivity live

Price	-10% $336	-5% $201	+0% $66	+5% $-69	+10% $-204
Rent	-10% $-253	-5% $-94	+0% $66	+5% $225	+10% $384
Rate	-1.0pp $306	-0.5pp $187	base $66	+0.5pp $-58	+1.0pp $-184

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: $119,250
• Closing costs: $14,310
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Jib Sail Ct Hilton Head Island, SC	3.0	2.5	1508	$3,600	$2.39	44d	1	0.04mi
10 Cobblestone Ct Hilton Head Island, SC	3.0	2.5	1600	$3,600	$2.25	44d	1	0.05mi
62 Jib Sail Ct Hilton Head Island, SC	3.0	2.5	2100	$3,500	$1.67	21d	1	0.12mi
35 Bellhaven Way Hilton Head Island, SC	3.0	2.0	1700	$3,500	$2.06	14d	1	0.13mi
47 Shelter Cove Ln Hilton Head Island, SC	2.0	2.0	1564	$4,563	$2.92	14d	18	1.05mi
8 Heath Dr Unit 1495735P Hilton Head Island, SC	3.0	3.5	1991	$12,546	$6.30	44d	1	1.09mi
125 Shipyard Dr #148 Hilton Head Island, SC	3.0	3.0	1400	$3,200	$2.29	44d	1	1.42mi

HOA detail condo

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

Listing history 24 events

1. 2026-06-18
   days on market $477,000 Active 56 DOM
2. 2026-06-17
   days on market $477,000 Active 55 DOM
3. 2026-06-16
   days on market $477,000 Active 54 DOM
4. 2026-06-15
   days on market $477,000 Active 53 DOM
5. 2026-06-14
   days on market $477,000 Active 51 DOM
6. 2026-06-13
   days on market $477,000 Active 50 DOM
7. 2026-06-10
   days on market $477,000 Active 48 DOM
8. 2026-06-09
   days on market $477,000 Active 47 DOM
9. 2026-06-08
   days on market $477,000 Active 46 DOM
10. 2026-06-07
    days on market $477,000 Active 45 DOM
11. 2026-06-05
    days on market $477,000 Active 42 DOM
12. 2026-06-03
    days on market $477,000 Active 41 DOM
13. 2026-06-02
    days on market $477,000 Active 40 DOM
14. 2026-06-01
    days on market $477,000 Active 39 DOM
15. 2026-05-31
    days on market $477,000 Active 38 DOM
16. 2026-05-06
    price $477,000 1274-char remark
17. 2026-04-23
    listed $495,000 Active 1274-char remark
18. 2024-01-03
    soldstatus $427,000
19. 2023-12-29
    soldstatus $427,000 Closed 604-char remark

    Show marketing remark (604 chars)

    Yacht Cove condo completely remodeled with upgrades, style and colors. Everything is new. The flooring is a beautiful luxury vinyl plank. The kitchen has been expanded to include granite countertops, tall cabinets and stainless steel appliances. Take your coffee to the outdoor deck overlooking the pond and Island landscape. The three full bathrooms include two walk-ins and one tub with upgraded vanities and lights. The three bedrooms are spacious with a master bedroom suite designed for your next escape. Also, the entire exterior of the building and decks have recently been repaired and repainted.

20. 2023-11-22
    status Pending 604-char remark

    Show marketing remark (604 chars)

    Yacht Cove condo completely remodeled with upgrades, style and colors. Everything is new. The flooring is a beautiful luxury vinyl plank. The kitchen has been expanded to include granite countertops, tall cabinets and stainless steel appliances. Take your coffee to the outdoor deck overlooking the pond and Island landscape. The three full bathrooms include two walk-ins and one tub with upgraded vanities and lights. The three bedrooms are spacious with a master bedroom suite designed for your next escape. Also, the entire exterior of the building and decks have recently been repaired and repainted.

21. 2023-11-17
    price $469,900 604-char remark

    Show marketing remark (604 chars)

    Yacht Cove condo completely remodeled with upgrades, style and colors. Everything is new. The flooring is a beautiful luxury vinyl plank. The kitchen has been expanded to include granite countertops, tall cabinets and stainless steel appliances. Take your coffee to the outdoor deck overlooking the pond and Island landscape. The three full bathrooms include two walk-ins and one tub with upgraded vanities and lights. The three bedrooms are spacious with a master bedroom suite designed for your next escape. Also, the entire exterior of the building and decks have recently been repaired and repainted.

22. 2023-06-26
    listed $475,000 Active 604-char remark

    Show marketing remark (604 chars)

    Yacht Cove condo completely remodeled with upgrades, style and colors. Everything is new. The flooring is a beautiful luxury vinyl plank. The kitchen has been expanded to include granite countertops, tall cabinets and stainless steel appliances. Take your coffee to the outdoor deck overlooking the pond and Island landscape. The three full bathrooms include two walk-ins and one tub with upgraded vanities and lights. The three bedrooms are spacious with a master bedroom suite designed for your next escape. Also, the entire exterior of the building and decks have recently been repaired and repainted.

23. 1992-06-01
    soldstatus $78,500
24. 1988-12-01
    soldstatus $134,900

ⓘ 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: $5,070 · $423/mo
• Projected year-2 tax: $5,070 · $423/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: $48,429
• − Mortgage interest: −$26,719
• − Property taxes: −$5,070
• − Insurance: −$2,385
• − Repairs & maintenance: −$3,874
• − Management: −$3,874
• − Depreciation: −$13,876
• Taxable loss: −$7,370
• Est. tax savings @ 24.0%: +$1,769
• After-tax cash flow: $2,556/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

+253.6% since first listed

9 events — show timeline

• 2026-05-06 Price Changed $477,000 RSMLS
• 2026-04-23 Listed $495,000 RSMLS
• 2024-01-03 Sold (Public Records) $427,000 Public Records
• 2023-12-29 Sold (MLS) $427,000 RSMLS
• 2023-11-22 Pending — RSMLS
• 2023-11-17 Price Changed $469,900 RSMLS
• 2023-06-26 Listed $475,000 RSMLS
• 1992-06-01 Sold (Public Records) $78,500 Public Records
• 1988-12-01 Sold (Public Records) $134,900 Public Records

Property tax history

+6.8%/yr

Latest (2025): $5,070 · +1.1% YoY. Source: county tax records.