45 Forest Cv #45 · Hilton Head Island, SC 29928

$257,500

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 112 Days on market

Built 1988 $258/sqft · 5% above area Est $244k · 5% over ↓ 31% since listing

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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).

• Cash flow +14.5/30.0
• Appreciation +6.6/10.0
• 1% rule +5.4/10.0
• ARV discount +5.1/15.0
• DSCR +4.4/10.0
• 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

Lovely vіlla οn the ѕοuth end perfесt for full-time residents or іnvеstors! This recently refreshed 2 bed/2 bath unit features newer LVP flooring, kitchen cabinets, butcher block countertops, water heater, and windows. Subflooring was completely replaced for durability and peace of mind. Meticulously maintained by caring local owners with excellent tenants over the years. Clean finishes and thoughtful upgrades make this a comfortable and move-in ready coastal home or long-term rental property.

Key facts

• Thoughtful upgrades
• Water heater
• Newer lvp flooring

Tags

• NEWER LVP FLOORING
• BUTCHER BLOCK COUNTERTOPS
• WATER HEATER
• THOUGHTFUL UPGRADES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $258k.

Deal economics

• At list price, monthly cash flow is $-369 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $258k).
• Recommended offer: $234k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• This rent runs 33% 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 $10k of equity ($2k loan paydown + $8k 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 4, 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 112 days — a 9% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $90k; list at $258k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,325 (9.0% 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. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.04% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 8.0

CMA / ARV

• ARV (median comp): $244,251
• List price: $257,500
• Delta: 5.42%
• 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: 2.7%
• Equity multiple: 1.16×
• Total profit: $11,440
• Equity at exit: $118,802

10-year hold

• IRR: 6.3%
• Equity multiple: 2.00×
• Total profit: $71,746
• Equity at exit: $185,471

Cash invested: $72,100 (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: 8.0×

Monthly cashflow live

• Estimated rent: $2,667 medium
• Mortgage (P&I): −$1,350
• Tax from tax record: −$150 /mo · $1,801/yr
• Insurance: −$107
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$442
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $-369

Break-even live

Break-even rent $3,135

Max offer price $192,305

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: $64,375
• Closing costs: $7,725
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Forest Cove Rd Hilton Head Island, SC	2.0	2.0	1000	$2,150	$2.15	14d	1	0.06mi

HOA detail condo

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

Listing history 25 events

1. 2026-06-18
   days on market $257,500 Active 112 DOM
2. 2026-06-17
   days on market $257,500 Active 111 DOM
3. 2026-06-16
   days on market $257,500 Active 110 DOM
4. 2026-06-15
   days on market $257,500 Active 109 DOM
5. 2026-06-14
   days on market $257,500 Active 107 DOM
6. 2026-06-13
   days on market $257,500 Active 106 DOM
7. 2026-06-10
   days on market $257,500 Active 104 DOM
8. 2026-06-09
   days on market $257,500 Active 103 DOM
9. 2026-06-08
   days on market $257,500 Active 102 DOM
10. 2026-06-07
    days on market $257,500 Active 101 DOM
11. 2026-06-05
    days on market $257,500 Active 98 DOM
12. 2026-06-03
    days on market $257,500 Active 97 DOM
13. 2026-06-02
    days on market $257,500 Active 96 DOM
14. 2026-06-01
    days on market $257,500 Active 95 DOM
15. 2026-05-31
    days on market $257,500 Active 94 DOM
16. 2026-05-14
    price $262,500 514-char remark

    Show marketing remark (514 chars)

    Lovely vіlla οn the ѕοuth end perfесt for full-time residents or іnvеstors! This recently refreshed 2 bed/2 bath unit features newer LVP flooring, kitchen cabinets, butcher block countertops, water heater, and windows. Subflooring was completely replaced for durability and peace of mind. Meticulously maintained by caring local owners with excellent tenants over the years. Clean finishes and thoughtful upgrades make this a comfortable and move-in ready coastal home or long-term rental property.

17. 2026-03-19
    price $265,000 514-char remark

    Show marketing remark (514 chars)

    Lovely vіlla οn the ѕοuth end perfесt for full-time residents or іnvеstors! This recently refreshed 2 bed/2 bath unit features newer LVP flooring, kitchen cabinets, butcher block countertops, water heater, and windows. Subflooring was completely replaced for durability and peace of mind. Meticulously maintained by caring local owners with excellent tenants over the years. Clean finishes and thoughtful upgrades make this a comfortable and move-in ready coastal home or long-term rental property.

18. 2026-02-26
    listed $267,000 Active 514-char remark

    Show marketing remark (514 chars)

    Lovely vіlla οn the ѕοuth end perfесt for full-time residents or іnvеstors! This recently refreshed 2 bed/2 bath unit features newer LVP flooring, kitchen cabinets, butcher block countertops, water heater, and windows. Subflooring was completely replaced for durability and peace of mind. Meticulously maintained by caring local owners with excellent tenants over the years. Clean finishes and thoughtful upgrades make this a comfortable and move-in ready coastal home or long-term rental property.

19. 2014-02-11
    soldstatus $90,000
20. 2014-02-07
    soldstatus $90,000 224-char remark

    Show marketing remark (224 chars)

    Spotless and ready to move in! Pergo floors, freshly painted, new tile floors in baths. Broad Creek Landing is a perfect residential community located on the South End of the Island. On site tennis courts, pool, playground.

21. 2014-01-20
    listed $99,900 224-char remark

    Show marketing remark (224 chars)

    Spotless and ready to move in! Pergo floors, freshly painted, new tile floors in baths. Broad Creek Landing is a perfect residential community located on the South End of the Island. On site tennis courts, pool, playground.

22. 2001-04-19
    soldstatus $96,000
23. 2000-03-08
    soldstatus $91,000
24. 1999-03-19
    soldstatus $1,140,000
25. 1996-12-30
    soldstatus $382,705

ⓘ 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: $1,801 · $150/mo
• Projected year-2 tax: $1,801 · $150/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,009
• − Mortgage interest: −$14,424
• − Property taxes: −$1,801
• − Insurance: −$6,406
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − HOA: −$5,304
• − Depreciation: −$7,491
• Taxable loss: −$8,539
• Est. tax savings @ 24.0%: +$2,049
• After-tax cash flow: $-2,379/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

-31.4% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $262,500 RSMLS
• 2026-03-19 Price Changed $265,000 RSMLS
• 2026-02-26 Listed $267,000 RSMLS
• 2014-02-11 Sold (Public Records) $90,000 Public Records
• 2014-02-07 Sold (MLS) $90,000 RSMLS
• 2014-01-20 Listed $99,900 RSMLS
• 2001-04-19 Sold (Public Records) $96,000 Public Records
• 2000-03-08 Sold (Public Records) $91,000 Public Records
• 1999-03-19 Sold (Public Records) $1,140,000 Public Records
• 1996-12-30 Sold (Public Records) $382,705 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,801 · +1.3% YoY. Source: county tax records.