10 Yacht Cove Dr #204 · Hilton Head Island, SC 29928

$350,000

2 bd · 2.5 ba · 1,320 sqft · Condo public records · 204 Days on market

Built 1989 Fair condition $265/sqft · 26% below area Est $475k · 26% under $400/mo HOA · 11% of rent

---

Why this score? — see what drove the B- 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 +19.8/30.0
• ARV discount +15.0/15.0
• Appreciation +6.6/10.0
• DSCR +6.3/10.0
• 1% rule +5.6/10.0
• Schools +5.4/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Welcome tο thiѕ chаrmіng 2-bedroοm, 2‐bath townhome that perfectly blеndѕ traditional elegance with modern updates. Nestled in a serene community, this home features a spacious layout with an inviting living area that offers stunning lagoon and landscaped views. The updated kitchen boasts stainless appliances, granite countertops, a quaint breakfast area or office, and ample counter space. The wide breakfast bar invites friends and family to enjoy casual get togethers. With a two-car garage and workshop area, storage will not be a problem. The bedrooms are thoughtfully designed to provide comfort and privacy, complemented by well-appointed bathrooms. The primary suite has a cathedral ceiling and lots of windows for natural light. The bathroom has been updated with a double vanity, new shower door and large walk-in closet. The washer and dryer are located upstairs between the 2 bedrooms. Low regime fee includes water, landscaping, outside maintenance - this is an easy to live in primary home or vacation home. New tile floor in the foyer and HVAC is 2022. Shelter Cove is only a short stroll away for shopping, dining, and entertainment.

Key facts

• Lagoon views
• Wide breakfast bar
• Stainless appliances

Tags

• LAGOON VIEWS
• UPDATED KITCHEN
• STAINLESS APPLIANCES
• GRANITE COUNTERTOPS
• BREAKFAST AREA
• WIDE BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.3% 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.
• Zoned schools: Hilton Head Island Elementary (math 50% / reading 49%, grade D, #168 of 597 statewide, top 31%, 709 students, 56% FRL); Hilton Head Island Middle (math 33% / reading 42%, grade F, #90 of 229 statewide, top 42%, 856 students, 52% FRL); Hilton Head Island High (math 70% / reading 82%, grade A-, #34 of 196 statewide, top 17%, 1,345 students, 40% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 1004 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $3,713/mo this rent would consume 46% of the median local household income ($98k/yr) (locally 20% 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 $14k 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.
• At projected returns (3.2% appreciation + 3.2% rent growth), your $98k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $89k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $260k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 1.06% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (median comp): $474,818
• List price: $350,000
• Delta: -21.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Bellhaven Way	0.16mi	3/2.0 (+1)	1,351 (+2%)	1mo	$489,000	$362	80
3 Shelter Cove Ln #7442	0.10mi	2/2.0	1,140 (-14%)	0mo	$545,000	$478	70
3 Shelter Cove Ln #7406	0.10mi	2/2.0	1,140 (-14%)	2mo	$550,000	$482	69
50 Yacht Cove Dr #510	0.14mi	3/3.0 (+1)	1,467 (+11%)	1mo	$425,000	$290	67
50 Yacht Cove Dr #220	0.21mi	3/3.0 (+1)	1,467 (+11%)	0mo	$415,500	$283	64
60 Carnoustie Rd #979	0.57mi	2/2.0	1,228 (-7%)	2mo	$739,900	$603	58
59 Carnoustie Rd #241	0.95mi	2/2.0	1,351 (+2%)	1mo	$720,000	$533	58
47 Ocean Ln #5102	1.36mi	2/2.0	1,392 (+6%)	2mo	$1,470,000	$1,056	52
20 Carnoustie Rd #7824	0.86mi	2/2.0	1,199 (-9%)	2mo	$650,000	$542	46
45 Queens Folly Rd #610	0.79mi	2/2.0	1,447 (+10%)	1mo	$660,000	$456	46
75 Ocean Ln #507	1.47mi	2/2.0	1,171 (-11%)	2mo	$1,110,000	$948	43
59 Carnoustie Rd #239	0.95mi	2/2.0	1,473 (+12%)	2mo	$620,000	$421	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 13.0%
• Equity multiple: 1.75×
• Total profit: $73,582
• Equity at exit: $161,479

10-year hold

• IRR: 14.9%
• Equity multiple: 3.26×
• Total profit: $221,391
• Equity at exit: $252,096

Cash invested: $98,000 (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 →

Active competition Active MLS

• For sale now: 0 active · 11 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29928

• Home prices YoY: 1.3%
• Rents YoY: 3.2%
• Active inventory: 1004
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,713 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$146
• HOA: −$400
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $417

Break-even live

Break-even rent $3,184

Max offer price $350,000

Occupancy floor 84%

Sensitivity live

Price	-10% $616	-5% $516	+0% $417	+5% $318	+10% $219
Rent	-10% $124	-5% $271	+0% $417	+5% $564	+10% $711
Rate	-1.0pp $594	-0.5pp $506	base $417	+0.5pp $327	+1.0pp $234

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: $87,500
• Closing costs: $10,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	93d	1	0.04mi
10 Cobblestone Ct Hilton Head Island, SC	3.0	2.5	1600	$3,600	$2.25	93d	1	0.05mi
35 Bellhaven Way Hilton Head Island, SC	3.0	2.0	1700	$3,500	$2.06	62d	1	0.13mi
47 Shelter Cove Ln Hilton Head Island, SC	2.0	2.0	1564	$4,563	$2.92	62d	18	1.05mi
125 Shipyard Dr #148 Hilton Head Island, SC	3.0	3.0	1400	$3,200	$2.29	93d	1	1.42mi

HOA detail $400/mo · $4,800/yr condo

• Likely covers: waterlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $350,000 Active 204 DOM
2. 2026-08-07
   pricedays on market $350,000 Active 203 DOM
3. 2026-08-06
   days on market $375,000 Active 202 DOM
4. 2026-08-05
   days on market $375,000 Active 201 DOM
5. 2026-08-04
   days on market $375,000 Active 200 DOM
6. 2026-08-03
   days on market $375,000 Active 199 DOM
7. 2026-07-31
   days on market $375,000 Active 196 DOM
8. 2026-07-30
   days on market $375,000 Active 195 DOM
9. 2026-07-29
   days on market $375,000 Active 194 DOM
10. 2026-07-27
    days on market $375,000 Active 192 DOM
11. 2026-07-25
    days on market $375,000 Active 190 DOM
12. 2026-07-23
    days on market $375,000 Active 188 DOM
13. 2026-07-22
    days on market $375,000 Active 187 DOM
14. 2026-07-21
    days on market $375,000 Active 186 DOM
15. 2026-07-18
    days on market $375,000 Active 183 DOM
16. 2026-07-16
    days on market $375,000 Active 181 DOM
17. 2026-07-16
    days on market $375,000 Active 180 DOM
18. 2026-07-14
    days on market $375,000 Active 179 DOM
19. 2026-07-13
    days on market $375,000 Active 178 DOM
20. 2026-07-12
    days on market $375,000 Active 177 DOM
21. 2026-07-11
    days on market $375,000 Active 176 DOM
22. 2026-07-10
    days on market $375,000 Active 175 DOM
23. 2026-07-09
    pricedays on market $375,000 Active 174 DOM
24. 2026-07-08
    days on market $399,900 Active 173 DOM
25. 2026-07-07
    days on market $399,900 Active 172 DOM
26. 2026-07-06
    days on market $399,900 Active 171 DOM
27. 2026-07-05
    days on market $399,900 Active 170 DOM
28. 2026-07-04
    days on market $399,900 Active 169 DOM
29. 2026-07-03
    days on market $399,900 Active 168 DOM
30. 2026-07-02
    days on market $399,900 Active 167 DOM
31. 2026-07-01
    days on market $399,900 Active 166 DOM
32. 2026-06-30
    days on market $399,900 Active 165 DOM
33. 2026-06-29
    days on market $399,900 Active 164 DOM
34. 2026-06-28
    days on market $399,900 Active 163 DOM
35. 2026-06-28
    days on market $399,900 Active 162 DOM
36. 2026-06-27
    days on market $399,900 Active 161 DOM
37. 2026-06-25
    days on market $399,900 Active 159 DOM
38. 2026-06-23
    days on market $399,900 Active 157 DOM
39. 2026-06-21
    days on market $399,900 Active 156 DOM
40. 2026-06-18
    days on market $399,900 Active 153 DOM
41. 2026-06-17
    days on market $399,900 Active 152 DOM
42. 2026-06-16
    days on market $399,900 Active 151 DOM
43. 2026-06-15
    days on market $399,900 Active 150 DOM
44. 2026-06-14
    days on market $399,900 Active 148 DOM
45. 2026-06-13
    days on market $399,900 Active 147 DOM
46. 2026-06-10
    days on market $399,900 Active 145 DOM
47. 2026-06-09
    days on market $399,900 Active 144 DOM
48. 2026-06-08
    days on market $399,900 Active 143 DOM
49. 2026-06-07
    days on market $399,900 Active 142 DOM
50. 2026-06-05
    days on market $399,900 Active 139 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: $1,611 · $134/mo
• Projected year-2 tax: $1,995 · $166/mo
• Expected delta: +$384/yr (+$32/mo · 23.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $44,551
• − Mortgage interest: −$19,605
• − Property taxes: −$1,611
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,564
• − Management: −$3,564
• − HOA: −$4,800
• − Depreciation: −$10,182
• Taxable loss: −$525
• Est. tax savings @ 24.0%: +$126
• After-tax cash flow: $5,135/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab Est. rehab $6,600–$19,800 screening

This charming townhome is in fair condition with good systems and features. It requires cosmetic updates to the exterior siding and landscaping to enhance its curb appeal and property value.

Components & finishes AI

Roof asphalt shingle · good

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Both Maintain landscaping — Improves property value and enhances curb appeal. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Hilton Head Island Elementary D SC #168/597 Nat'l #12,785/41,679 Middle Hilton Head Island Middle F SC #90/229 Nat'l #6,708/14,009 High Hilton Head Island High A- SC #34/196 Nat'l #1,484/17,239

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

C Composite livability gradescore 64/100

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 · 211,915 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: 20% of renters

---

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

+189.8% since first listed

10 events — show timeline

• 2026-04-09 Price Changed $399,900 RSMLS
• 2026-02-25 Price Changed $429,000 RSMLS
• 2026-01-16 Listed $439,000 RSMLS
• 2021-04-12 Sold (Public Records) $260,000 Public Records
• 2021-03-31 Sold (MLS) $260,000 RSMLS
• 2020-10-03 Listed $259,900 RSMLS
• 1999-12-31 Sold (Public Records) $113,500 Public Records
• 1995-09-27 Sold (Public Records) $140,000 Public Records
• 1995-09-27 Sold (Public Records) $140,000 Public Records
• 1989-04-01 Sold (Public Records) $138,000 Public Records

Property tax history

+7.4%/yr

Latest (2024): $1,611 · +0.9% YoY. Source: county tax records.