21 Lagoon Rd Unit B1F · Hilton Head Island, SC 29928

$413,000

2 bd · 2.0 ba · 750 sqft · Condo · 6 Days on market

Built 1975

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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 +7.5/15.0
• Appreciation +6.6/10.0
• Cash flow +6.1/30.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0

Listing remarks MLS

Wow! Wait till you see this beautifully remodeled 2-bed / 2-bath Sands Villa. This immaculate 1st floor convenient end-unit features new flooring, new interior paint, new furnishings & accessories, new flat-screen TV's, new appliances, Coffered Ceilings, raised-panel walls, etc. It is in turn-key condition and is a rental machine. Just a few steps to the beach, Coligny Plaza, Celebration Park, tons of shops, multiple restaurants, beach side bars and entertainment. The Sands Village is a quiet and peaceful setting with a community pool and grilling area.

Key facts

• First floor location
• Community pool
• Built 1975

Tags

• TURNKEY INVESTMENT PROPERTY
• FIRST FLOOR LOCATION
• SHORT WALK TO COLIGNY BEACH
• ACCESS TO COMMUNITY POOL

Property features AI

Finance

• Other: Pets not allowed except owner only
• HOA & community: Association amenities include a pool; Association covers management, common areas, cable TV, insurance, grounds maintenance, structure maintenance, pest control, reserve fund, sewer, trash, and water

Exterior

• Parking: Unassigned parking
• Utilities: Public water
• Home design: Single-story; Flat roof; Wood siding construction
• Construction: Wood siding; Flat roof
• Exterior features: Balcony; Patio; Community free-form pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Refrigerator
• Flooring: Luxury vinyl; Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning (electric)
• Interior features: Furnished; Balcony (interior-access from unit)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $413k.

Deal economics

• At list price, monthly cash flow is $-779 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $363k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (23.1% below list).
• Recommended offer: $318k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 4.0% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 39% 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 $16k 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 ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $317,738 (23.1% 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 1975 — 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: 0.77% ✗
• Cap rate: 4.03%
• Cash-on-cash: -8.08%
• DSCR: 0.64
• GRM: 10.8

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: 0.8%
• Equity multiple: 1.05×
• Total profit: $5,740
• Equity at exit: $190,545

10-year hold

• IRR: 4.7%
• Equity multiple: 1.74×
• Total profit: $85,925
• Equity at exit: $297,473

Cash invested: $115,640 (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: 10.8×

Monthly cashflow live

• Estimated rent: $3,177 high
• Mortgage (P&I): −$2,166
• Tax est. 1.5%: −$516 /mo · $6,195/yr
• Insurance: −$172
• HOA est. from 7 same-building comps: −$435
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-779

Break-even live

Break-even rent $4,163

Max offer price $300,275

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: $103,250
• Closing costs: $12,390
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	14d	1	0.04mi
36 Deallyon Ave Unit 1498585P Hilton Head Island, SC	2.0	2.5	990	$2,706	$2.73	14d	1	0.46mi
23 S Forest Beach Dr Unit 1316238P Hilton Head Island, SC	1.0	1.0	645	$3,185	$4.94	21d	1	0.52mi
10 Lemoyne Ave Unit 1322533P Hilton Head Island, SC	2.0	2.0	839	$4,267	$5.09	14d	1	0.68mi
19 Lemoyne Ave Unit 1470518P Hilton Head Island, SC	2.0	2.5	1033	$2,673	$2.59	14d	1	0.71mi
217 Cordillo Pkwy Unit C7 Hilton Head Island, SC	1.0	1.0	850	$1,795	$2.11	14d	1	1.39mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-18
   days on market $413,000 Active 6 DOM
2. 2026-06-17
   price $413,000 Active 5 DOM
3. 2026-06-17
   days on market $416,000 Active 5 DOM
4. 2026-06-16
   days on market $416,000 Active 4 DOM
5. 2026-06-15
   days on market $416,000 Active 3 DOM
6. 2026-06-13
   remarks 683-char remark
7. 2026-06-13
   listed $416,000 Active 1 DOM

ⓘ 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: $38,129
• − Mortgage interest: −$23,134
• − Property taxes: −$6,195
• − Insurance: −$2,065
• − Repairs & maintenance: −$3,050
• − Management: −$3,050
• − HOA: −$5,220
• − Depreciation: −$12,015
• Taxable loss: −$16,601
• Est. tax savings @ 24.0%: +$3,984
• After-tax cash flow: $-5,364/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

-0.9% since first listed

5 events — show timeline

• 2026-06-12 Listed $416,000 RSMLS
• 2026-03-19 Sold (MLS) $378,500 RSMLS
• 2026-02-05 Pending — RSMLS
• 2025-12-12 Price Changed $399,000 RSMLS
• 2025-04-08 Listed $419,900 RSMLS