48 Salt Marsh Dr #48 · Hilton Head Island, SC 29926

$345,000

4 bd · 3.0 ba · 1,950 sqft · Condo · 13 Days on market

Built 1985 Good condition

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Why this score? — see what drove the F 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
• Cash flow +4.9/30.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey Cottage with spectacular lagoon views for under 200,000! This 1950 sq. ft condo boasts new vinyl flooring throughout and a bright and airy, oversized kitchen! It features 2 bedrooms, 2 baths downstairs with 2 bedroom 1 bath upstairs. Roof was replaced 2017, HVAC 2014. Conveniently located in The Gatherings in-between Hilton Head Island and downtown Bluffton. Amenities include community pool, playground and tennis court. Many restaurants and shops nearby!

Key facts

• Front porches
• Back deck
• Coastal cottage

Tags

• BACK DECK
• FRONT PORCHES
• COASTAL COTTAGE

Property features AI

Finance

• HOA & community: Association amenities include pool, playground, trash service, insurance; Association covers management, common areas, flood insurance, insurance, grounds maintenance, structure maintenance, pest control, pools, sewer, tennis courts, trash, and water; Community pool

Exterior

• Parking: Assigned parking
• Security: Smoke detector(s)
• Utilities: Public water
• Home design: 2-story property
• Construction: Wood siding; Asphalt roof
• Exterior features: Porch; Patio; Front porch; Rear porch; Balcony; Has view; Faces southeast

Interior

• Kitchen: Eat-in kitchen; Kitchen with stove, oven, microwave, refrigerator, dishwasher, disposal
• Bedrooms: Primary bedroom on main level
• Flooring: Luxury vinyl; Luxury vinyl plank
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning (electric)
• Interior features: Attic; Ceiling fan(s); Cathedral ceilings; High ceilings; Main level primary; Multiple closets; Cable TV; Vaulted ceilings; Eat-in kitchen; Unfurnished
• Laundry & utility: Washer and dryer; Utility room; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $345k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-834 ($-10k/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 $309k (10.5% below list).
• Recommended offer: $309k (10.5% below list) — sets the bar for 1% rule.

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 soft (-0.2%/yr); 400 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 38% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Beaufort County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 15y 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.
• Current owner paid $185k; list at $345k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $308,706 (10.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 3.39%
• Cash-on-cash: -10.37%
• DSCR: 0.54
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -40.0%
• Equity multiple: -0.22×
• Total profit: $-117,505
• Equity at exit: $51,441

10-year hold

• IRR: -98.7%
• Equity multiple: -1.10×
• Total profit: $-203,309
• Equity at exit: $29,829

Cash invested: $96,600 (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 29926

• Home prices YoY: -26.7%
• Rents YoY: -0.2%
• Active inventory: 400
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,087 medium
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA est. from 2 same-building comps: −$889
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $-834

Break-even live

Break-even rent $4,143

Max offer price $224,255

Occupancy floor —

Sensitivity live

Price	-10% $-596	-5% $-715	+0% $-834	+5% $-954	+10% $-1,073
Rent	-10% $-1,078	-5% $-956	+0% $-834	+5% $-713	+10% $-591
Rate	-1.0pp $-661	-0.5pp $-747	base $-834	+0.5pp $-924	+1.0pp $-1,015

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Old South Ct Bluffton, SC	3.0	2.0	1450	$2,100	$1.45	23d	1	0.17mi
29 Edgewater Cir Bluffton, SC	1.0–3.0	1.0–2.0	1089	$2,460	$2.26	15d	25	0.39mi
11 Wax Myrtle Ct Hilton Head Island, SC	3.0	3.5	2348	$4,500	$1.92	15d	1	0.71mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-21
   days on market $345,000 Active 13 DOM
2. 2026-06-18
   price $345,000 Active 10 DOM
3. 2026-06-18
   days on market $360,000 Active 10 DOM
4. 2026-06-17
   days on market $360,000 Active 9 DOM
5. 2026-06-16
   days on market $360,000 Active 8 DOM
6. 2026-06-15
   days on market $360,000 Active 7 DOM
7. 2026-06-14
   days on market $360,000 Active 5 DOM
8. 2026-06-13
   days on market $360,000 Active 4 DOM
9. 2026-06-10
   days on market $360,000 Active 2 DOM
10. 2026-06-09
    remarks 686-char remark
11. 2026-06-09
    listed $360,000 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: $37,045
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,964
• − Management: −$2,964
• − HOA: −$10,668
• − Depreciation: −$10,036
• Taxable loss: −$15,812
• Est. tax savings @ 24.0%: +$3,795
• After-tax cash flow: $-6,218/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated condo in Hilton Head Island offers a relaxing coastal lifestyle with a good condition score and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Resale Trim bushes and trees — Improves landscaping and enhances curb appeal
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Resale Trim bushes and trees — Improves landscaping and enhances curb appeal ↑
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Beaufort County · 163,770 people
• City population: 40,243
• Metro: Hilton Head Island-Bluffton, SC
• Population (ZIP): 24,458
• Household income: $97,948
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 562.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 19% Two or more races 9% Black 8%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 16% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -98.89%
• Current HPI: 271.4783
• Rent YoY: ▼ -0.16%
• 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

+554.5% since first listed

8 events — show timeline

• 2026-06-08 Listed $360,000 RSMLS
• 2020-07-24 Sold (MLS) $185,000 RSMLS
• 2020-02-28 Listed $195,000 RSMLS
• 2018-08-15 Listed $193,000 RSMLS
• 2017-12-13 Listed $213,500 RSMLS
• 2017-09-25 Listed $213,500 RSMLS
• 2012-01-05 Sold (MLS) $57,000 RSMLS
• 2011-09-02 Listed $55,000 RSMLS