6 Cedar Reef Dr Unit C201-B · Harbor Island, SC 29920

$45,000

2 bd · 2.5 ba · 1,080 sqft · Condo · 5 Days on market

Built 1981 Good condition $150/mo HOA · 7% of rent

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Amazing ocean-marsh views on this beautiful 2 bedroom, 2.5 bath condo. This villa is managed privately by the owners and there is a weekly rotation plan in place. You have access to the condo one week every eight weeks. If you are looking for a budgeted, friendly vacation and don't want sole ownership, then this is what you are looking for.

Key facts

• $150 HOA
• Community pool
• Built 1981

Property features AI

Finance

• HOA & community: HOA fee charged annually; HOA fee amount: $1,796.69 per year; Community amenities include fitness center, dog park, pool, playground

Exterior

• Parking: No attached garage
• Security: Gated community security
• Home design: Condominium; Shared interest ownership (18% share)
• Construction: Building area about 1,080
• Exterior features: Residential zoning

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms; 1 half bathroom (3 total)
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Cap rate 40.1% vs local median 1.0% in Harbor 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: St. Helena Elementary (math 17% / reading 22%, grade F, #499 of 597 statewide, top 84%, 347 students, 100% FRL) — zoned schools average 100% FRL vs 48% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 46% district-wide (-27 pts) — the specific schools serving this property underperform the Beaufort 01 average; the district grade overstates school quality for this exact location.
• Market conditions: 328 active listings in the ZIP; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 4.86% ✓
• Cap rate: 40.11%
• Cash-on-cash: 120.78%
• DSCR: 6.37
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 80.6%
• Equity multiple: 4.71×
• Total profit: $46,703
• Equity at exit: $6,710

10-year hold

• IRR: 84.1%
• Equity multiple: 9.83×
• Total profit: $111,269
• Equity at exit: $3,891

Cash invested: $12,600 (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 29920

• Home prices YoY: -14.5%
• Active inventory: 328
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,189 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$150
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $842

Break-even live

Break-even rent $1,123

Max offer price $45,000

Occupancy floor 57%

Sensitivity live

Price	-10% $873	-5% $857	+0% $842	+5% $826	+10% $811
Rent	-10% $669	-5% $755	+0% $842	+5% $928	+10% $1,015
Rate	-1.0pp $864	-0.5pp $853	base $842	+0.5pp $830	+1.0pp $818

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-09
   status $45,000 Pending 5 DOM
2. 2026-06-08
   days on market $45,000 Active 5 DOM
3. 2026-06-07
   days on market $45,000 Active 4 DOM
4. 2026-06-05
   remarks 342-char remark
5. 2026-06-05
   listed $45,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,266
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$5,344
• − Repairs & maintenance: −$2,101
• − Management: −$2,101
• − HOA: −$1,800
• − Depreciation: −$1,309
• Taxable income: $10,416
• Est. tax owed @ 24.0%: −$2,500
• After-tax cash flow: $7,600/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 · 6 photos

Good 80/100 Cosmetic rehab

This 2-bedroom, 2.5-bath condo is in good condition with no visible major repairs needed. It has a good exterior and interior condition, and the landscaping adds to its curb appeal. The property is move-in ready and has a good rental potential.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and add value to the property.
• Both Inspect and clean the air conditioning unit — Maintaining the HVAC system can improve the comfort and energy efficiency of the property, which can increase its value.
• Both Upgrade the flooring — Upgrading the flooring can improve the aesthetic appeal and add value to the property.
• Both Paint the interior walls and ceilings — Painting the interior walls and ceilings can improve the aesthetic appeal and add value to the property.
• Both Replace the light fixtures — Replacing outdated light fixtures can improve the aesthetic appeal and add value to the property.
• Both Replace the hardware — Replacing outdated hardware can improve the aesthetic appeal and add value to the property.
• Both Upgrade the kitchen appliances — Upgrading the kitchen appliances can improve the aesthetic appeal and add value to the property.
• Both Upgrade the bathrooms — Upgrading the bathrooms can improve the aesthetic appeal and add value to the property.
• Both Upgrade the HVAC system — Upgrading the HVAC system can improve the comfort and energy efficiency of the property, which can increase its value.
• Both Landscaping improvements — Landscaping improvements can improve the curb appeal and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and add value to the property. ↑
• Both Inspect and clean the air conditioning unit — Maintaining the HVAC system can improve the comfort and energy efficiency of the property, which can increase its value. ↑
• Both Upgrade the flooring — Upgrading the flooring can improve the aesthetic appeal and add value to the property. ↑
• Both Paint the interior walls and ceilings — Painting the interior walls and ceilings can improve the aesthetic appeal and add value to the property. ↑
• Both Replace the light fixtures — Replacing outdated light fixtures can improve the aesthetic appeal and add value to the property. ↑
• Both Replace the hardware — Replacing outdated hardware can improve the aesthetic appeal and add value to the property. ↑
• Both Upgrade the kitchen appliances — Upgrading the kitchen appliances can improve the aesthetic appeal and add value to the property. ↑
• Both Upgrade the bathrooms — Upgrading the bathrooms can improve the aesthetic appeal and add value to the property. ↑
• Both Upgrade the HVAC system — Upgrading the HVAC system can improve the comfort and energy efficiency of the property, which can increase its value. ↑
• Both Landscaping improvements — Landscaping improvements can improve the curb appeal and add value to the property. ↑

ⓘ 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 — Harbor Island

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Harbor Island, SC
• Population (ZIP): 9,918

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 48% White 41% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -48.29%
• Current HPI: 284.2064
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-03 Listed $45,000 LRMLS