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

$399,900

2 bd · 2.5 ba · 1,320 sqft · Condo public records · 153 Days on market

Built 1989 $303/sqft · 19% below area Est $496k · 19% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• Appreciation +6.6/10.0
• 1% rule +4.3/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0

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 $400k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/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 $371k (7.2% below list).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 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 $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.
• At projected returns (3.2% appreciation + 3.2% rent growth), your $112k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $39k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $260k; list at $400k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $351,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (median comp): $495,517
• List price: $399,900
• Delta: -19.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.5%
• Equity multiple: 1.78×
• Total profit: $87,344
• Equity at exit: $184,501

10-year hold

• IRR: 15.3%
• Equity multiple: 3.31×
• Total profit: $258,835
• Equity at exit: $288,038

Cash invested: $111,972 (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: 9.0×

Monthly cashflow live

• Estimated rent: $3,713 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $535

Break-even live

Break-even rent $3,035

Max offer price $399,900

Occupancy floor 81%

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: $99,975
• Closing costs: $11,997
• 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	43d	1	0.04mi
10 Cobblestone Ct Hilton Head Island, SC	3.0	2.5	1600	$3,600	$2.25	43d	1	0.05mi
35 Bellhaven Way Hilton Head Island, SC	3.0	2.0	1700	$3,500	$2.06	13d	1	0.13mi
47 Shelter Cove Ln Hilton Head Island, SC	2.0	2.0	1564	$4,563	$2.92	13d	18	1.05mi
125 Shipyard Dr #148 Hilton Head Island, SC	3.0	3.0	1400	$3,200	$2.29	43d	1	1.42mi

HOA detail condo

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

Listing history 25 events

1. 2026-06-18
   days on market $399,900 Active 153 DOM
2. 2026-06-17
   days on market $399,900 Active 152 DOM
3. 2026-06-16
   days on market $399,900 Active 151 DOM
4. 2026-06-15
   days on market $399,900 Active 150 DOM
5. 2026-06-14
   days on market $399,900 Active 148 DOM
6. 2026-06-13
   days on market $399,900 Active 147 DOM
7. 2026-06-10
   days on market $399,900 Active 145 DOM
8. 2026-06-09
   days on market $399,900 Active 144 DOM
9. 2026-06-08
   days on market $399,900 Active 143 DOM
10. 2026-06-07
    days on market $399,900 Active 142 DOM
11. 2026-06-05
    days on market $399,900 Active 139 DOM
12. 2026-06-03
    days on market $399,900 Active 138 DOM
13. 2026-06-02
    days on market $399,900 Active 137 DOM
14. 2026-06-01
    days on market $399,900 Active 136 DOM
15. 2026-05-31
    days on market $399,900 Active 135 DOM
16. 2026-04-09
    price $399,900 1169-char remark

    Show marketing remark (1169 chars)

    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.

17. 2026-02-25
    price $429,000 1169-char remark

    Show marketing remark (1169 chars)

    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.

18. 2026-01-16
    listed $439,000 Active 1169-char remark

    Show marketing remark (1169 chars)

    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.

19. 2021-04-12
    soldstatus $260,000
20. 2021-03-31
    soldstatus $260,000 640-char remark

    Show marketing remark (640 chars)

    2 bedroom, 2.5 bath condo located in Yacht Cove. Newly remodeled with high-end upgrades that include smooth ceilings, new paint, crown molding, manufactured wood floors, tile and carpet! A full newly remodeled kitchen with top quality cabinets, granite countertops and appliances. Additional features include an open living/dining area overlooking porch to lagoon view. Half bath on main level. Master bedroom has cathedral ceiling, remodeled walk-in shower with new cabinets and fixtures. Second bedroom has new carpet with remodeled bathroom tub/shower, granite floors and new light fixtures. Condo has tandem two car garage plus storage.

21. 2020-10-03
    listed $259,900 640-char remark

    Show marketing remark (640 chars)

    2 bedroom, 2.5 bath condo located in Yacht Cove. Newly remodeled with high-end upgrades that include smooth ceilings, new paint, crown molding, manufactured wood floors, tile and carpet! A full newly remodeled kitchen with top quality cabinets, granite countertops and appliances. Additional features include an open living/dining area overlooking porch to lagoon view. Half bath on main level. Master bedroom has cathedral ceiling, remodeled walk-in shower with new cabinets and fixtures. Second bedroom has new carpet with remodeled bathroom tub/shower, granite floors and new light fixtures. Condo has tandem two car garage plus storage.

22. 1999-12-31
    soldstatus $113,500
23. 1995-09-27
    soldstatus $140,000
24. 1995-09-27
    soldstatus $140,000
25. 1989-04-01
    soldstatus $138,000

ⓘ 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: $2,279 · $190/mo
• Expected delta: +$669/yr (+$56/mo · 41.5%)

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

Taxation est. · year 1

• Rental income: $44,551
• − Mortgage interest: −$22,401
• − Property taxes: −$1,611
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,564
• − Management: −$3,564
• − Depreciation: −$11,633
• Taxable loss: −$222
• Est. tax savings @ 24.0%: +$53
• After-tax cash flow: $6,473/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

+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.