32 S Forest Bch #70 · Hilton Head Island, SC 29928

$419,000

2 bd · 1.5 ba · 1,064 sqft · Condo public records · 29 Days on market

Built 1969

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Why this score? — see what drove the C- 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 +16.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• 1% rule +3.6/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

What a find for owning on Hilton Head Island! Located directly across from the beach path, this 2-bedroom villa has been enjoyed for years as a special family getaway and is ready for its next chapter. You can spend your mornings by the ocean and your evenings grilling on the patio while enjoying the large outdoor space. The villa has been well maintained and is comfortable to enjoy immediately, as it is sold fully furnished. One of the best villa locations in this complex and priced for a buyer to add their own personal style and updates now or in the future. Owners may have pets, and the large community pool is only steps away. You will love the proximity to the shops of Coligny, parks, restaurants, shopping, entertainment, and everything people enjoy about the Forest Beach lifestyle.

Key facts

• Community pool
• Large outdoor space
• Sold fully furnished

Tags

• ACROSS FROM BEACH PATH
• LARGE OUTDOOR SPACE
• SOLD FULLY FURNISHED
• COMMUNITY POOL
• PROXIMITY TO SHOPS

Property features AI

Finance

• HOA & community: HOA provides association management, common area maintenance, grounds maintenance, pest control, sewer, trash, water, and insurance; Community amenities include a pool

Exterior

• Parking: Assigned parking
• Security: Smoke detector(s)
• Utilities: Public water
• Home design: 2 stories; Block and stucco construction; Asphalt roof
• Construction: Block and stucco construction; Asphalt roof
• Exterior features: Patio; Community pool; Has a view; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Primary bedroom on upper level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric, heat pump); Central cooling (electric, heat pump)
• Interior features: Furnished; Ceiling fan(s); Window treatments

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/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 $362k (13.6% below list).
• Recommended offer: $362k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,824 units permitted in Beaufort County in 2024 (618 in 5+ unit buildings).
• This rent runs 45% 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 $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 $117k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($413k) is reasonable based on typical stale-listing flexibility.
• 5 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 $195k; list at $419k implies a 115% gain — meaningful room to come down on a strong offer.

Recommended offer $362,089 (13.6% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.3%
• Equity multiple: 1.60×
• Total profit: $70,038
• Equity at exit: $193,313

10-year hold

• IRR: 12.6%
• Equity multiple: 2.92×
• Total profit: $224,863
• Equity at exit: $301,795

Cash invested: $117,320 (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: 9.6×

Monthly cashflow live

• Estimated rent: $3,621 high
• Mortgage (P&I): −$2,197
• Tax from tax record: −$266 /mo · $3,186/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $223

Break-even live

Break-even rent $3,338

Max offer price $419,000

Occupancy floor 89%

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Lemoyne Ave Unit 1322533P Hilton Head Island, SC	2.0	2.0	839	$4,267	$5.09	13d	1	0.16mi
19 Lemoyne Ave Unit 1470518P Hilton Head Island, SC	2.0	2.5	1033	$2,673	$2.59	13d	1	0.28mi
36 Deallyon Ave Unit 1498585P Hilton Head Island, SC	2.0	2.5	990	$2,706	$2.73	13d	1	0.34mi
10 N Forest Beach Dr Unit 1470517P Hilton Head Island, SC	2.0	2.0	1323	$5,684	$4.30	21d	1	0.54mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	13d	1	0.62mi
217 Cordillo Pkwy Unit C7 Hilton Head Island, SC	1.0	1.0	850	$1,795	$2.11	13d	1	0.82mi

HOA detail condo

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

Listing history 28 events

1. 2026-06-18
   days on market $419,000 Active 29 DOM
2. 2026-06-17
   days on market $419,000 Active 28 DOM
3. 2026-06-16
   days on market $419,000 Active 27 DOM
4. 2026-06-15
   days on market $419,000 Active 26 DOM
5. 2026-06-14
   days on market $419,000 Active 24 DOM
6. 2026-06-13
   days on market $419,000 Active 23 DOM
7. 2026-06-10
   days on market $419,000 Active 21 DOM
8. 2026-06-09
   days on market $419,000 Active 20 DOM
9. 2026-06-08
   days on market $419,000 Active 19 DOM
10. 2026-06-07
    days on market $419,000 Active 18 DOM
11. 2026-06-05
    days on market $419,000 Active 15 DOM
12. 2026-06-03
    days on market $419,000 Active 14 DOM
13. 2026-06-02
    days on market $419,000 Active 13 DOM
14. 2026-06-01
    days on market $419,000 Active 12 DOM
15. 2026-05-31
    days on market $419,000 Active 11 DOM
16. 2026-05-30
    days on market $419,000 Active 10 DOM
17. 2026-05-20
    listed $419,000 Active

    Show marketing remark (798 chars)

    What a find for owning on Hilton Head Island! Located directly across from the beach path, this 2-bedroom villa has been enjoyed for years as a special family getaway and is ready for its next chapter. You can spend your mornings by the ocean and your evenings grilling on the patio while enjoying the large outdoor space. The villa has been well maintained and is comfortable to enjoy immediately, as it is sold fully furnished. One of the best villa locations in this complex and priced for a buyer to add their own personal style and updates now or in the future. Owners may have pets, and the large community pool is only steps away. You will love the proximity to the shops of Coligny, parks, restaurants, shopping, entertainment, and everything people enjoy about the Forest Beach lifestyle.

18. 2026-05-20
    listed $419,000 Active 798-char remark

    Show marketing remark (798 chars)

    What a find for owning on Hilton Head Island! Located directly across from the beach path, this 2-bedroom villa has been enjoyed for years as a special family getaway and is ready for its next chapter. You can spend your mornings by the ocean and your evenings grilling on the patio while enjoying the large outdoor space. The villa has been well maintained and is comfortable to enjoy immediately, as it is sold fully furnished. One of the best villa locations in this complex and priced for a buyer to add their own personal style and updates now or in the future. Owners may have pets, and the large community pool is only steps away. You will love the proximity to the shops of Coligny, parks, restaurants, shopping, entertainment, and everything people enjoy about the Forest Beach lifestyle.

19. 2017-10-12
    soldstatus $195,000
20. 2017-10-11
    soldstatus $195,000 196-char remark

    Show marketing remark (196 chars)

    Great unit right across the street from the beach. Just a two minute walk to put your feet in the sand. Open kitchen to dining and large living room. Nice patio with courtyard view. Great rentals.

21. 2017-06-28
    listed $199,900 196-char remark

    Show marketing remark (196 chars)

    Great unit right across the street from the beach. Just a two minute walk to put your feet in the sand. Open kitchen to dining and large living room. Nice patio with courtyard view. Great rentals.

22. 2016-08-05
    soldstatus $177,000
23. 2016-08-04
    soldstatus $177,000
24. 2016-03-23
    listed $189,900
25. 2014-02-28
    listed $199,900
26. 2003-02-03
    soldstatus $149,900
27. 1994-11-18
    soldstatus $75,000
28. 1979-11-01
    soldstatus $55,000

ⓘ 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: $3,186 · $266/mo
• Projected year-2 tax: $3,186 · $266/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $43,451
• − Mortgage interest: −$23,471
• − Property taxes: −$3,186
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,476
• − Management: −$3,476
• − Depreciation: −$12,189
• Taxable loss: −$4,442
• Est. tax savings @ 24.0%: +$1,066
• After-tax cash flow: $3,743/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

+661.8% since first listed

12 events — show timeline

• 2026-05-20 Listed $419,000 RSMLS
• 2026-05-20 Listed $419,000 LRMLS
• 2017-10-12 Sold (Public Records) $195,000 Public Records
• 2017-10-11 Sold (MLS) $195,000 RSMLS
• 2017-06-28 Listed $199,900 RSMLS
• 2016-08-05 Sold (Public Records) $177,000 Public Records
• 2016-08-04 Sold (MLS) $177,000 RSMLS
• 2016-03-23 Listed $189,900 RSMLS
• 2014-02-28 Listed $199,900 RSMLS
• 2003-02-03 Sold (Public Records) $149,900 Public Records
• 1994-11-18 Sold (Public Records) $75,000 Public Records
• 1979-11-01 Sold (Public Records) $55,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $3,186 · +1.2% YoY. Source: county tax records.