45 Folly Field Rd Unit 2J · Hilton Head Island, SC 29928

$349,000

2 bd · 2.0 ba · 757 sqft · Condo public records · 145 Days on market

Built 1980

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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).

• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Appreciation +6.6/10.0
• Schools +4.1/10.0
• 1% rule +3.4/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0

Listing remarks MLS

New to the Μarkеt! Welсοme to thiѕ сharming Fiddler's Cove villa, idеаlly located just a few blocks from the beautiful sands of Folly Field Beach. Don't miss this incredible opportunity to own a slice of paradise on Hilton Head Island! This fully furnished 2-bedroom villa is perfect as a primary residence, a second home, or a high-performing investment property. Currently part of a successful rental program, it has demonstrated strong rental history and income potential. Situated on the third floor, this unit offers a peaceful retreat with no neighbors above and bright, scenic views of the surrounding landscape. Its prime location near the front of the complex provides quick beach access and a short stroll to the community pool and racquetball courts. For added convenience, the villa features in-unit laundry, making longer stays effortless. Thoughtfully equipped and move-in ready, this villa truly makes ownership effortless - just pack your swimsuit and sandals and start enjoying the island lifestyle. Whether you're relaxing after a beach day or entertaining guests, this property delivers comfort, convenience, and coastal charm. Don't let this opportunity pass you by - schedule your showing today!

Key facts

• Third floor unit
• Community pool
• Bright scenic views

Tags

• FEW BLOCKS FROM BEACH
• THIRD FLOOR UNIT
• BRIGHT SCENIC VIEWS
• QUICK BEACH ACCESS
• COMMUNITY POOL
• IN UNIT LAUNDRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-547 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (16.3% below list).
• Recommended offer: $292k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.9% 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.
• 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 rising (+3.2%/yr); 846 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 36% 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 $14k of equity ($2k loan paydown + $11k 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 3, 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 145 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $26k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $281k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $291,955 (16.3% 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 145 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.71%
• DSCR: 0.70
• GRM: 10.0

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: 2.1%
• Equity multiple: 1.12×
• Total profit: $12,068
• Equity at exit: $161,017

10-year hold

• IRR: 5.8%
• Equity multiple: 1.91×
• Total profit: $88,477
• Equity at exit: $251,376

Cash invested: $97,720 (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: 846
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,920 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$377 /mo · $4,529/yr
• Insurance: −$145
• HOA est. from 18 same-building comps: −$500
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-547

Break-even live

Break-even rent $3,611

Max offer price $252,441

Occupancy floor —

Sensitivity live

Price	-10% $-349	-5% $-448	+0% $-547	+5% $-645	+10% $-744
Rent	-10% $-777	-5% $-662	+0% $-547	+5% $-431	+10% $-316
Rate	-1.0pp $-371	-0.5pp $-458	base $-547	+0.5pp $-637	+1.0pp $-729

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Burkes Beach Rd Unit B Hilton Head Island, SC	2.0	2.0	1100	$2,500	$2.27	15d	1	0.71mi
96 Mathews Dr #87 Hilton Head Island, SC	2.0	2.0	1000	$2,500	$2.50	45d	1	0.94mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0	1012	$2,400	$2.37	15d	2	0.94mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0–2.5	1000	$2,500	$2.50	22d	2	0.94mi
112 Union Cemetery Rd Hilton Head Island, SC	2.0	2.0	1025	$2,125	$2.07	15d	1	1.21mi
55 Gardner Dr Hilton Head Island, SC	1.0–3.0	1.0–2.0	1175	$2,902	$2.47	15d	9	1.22mi
663 William Hilton Pkwy #2121 Hilton Head Island, SC	2.0	2.0	900	$2,200	$2.44	45d	1	1.24mi
662 William Hilton Pkwy Unit 1468397P Hilton Head Island, SC	2.0	2.0	828	$2,632	$3.18	22d	1	1.35mi

HOA detail condo

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

Listing history 27 events

1. 2026-06-09
   days on market $349,000 Active 145 DOM
2. 2026-06-08
   days on market $349,000 Active 144 DOM
3. 2026-06-07
   days on market $349,000 Active 143 DOM
4. 2026-06-05
   days on market $349,000 Active 140 DOM
5. 2026-06-03
   days on market $349,000 Active 139 DOM
6. 2026-06-02
   days on market $349,000 Active 138 DOM
7. 2026-06-01
   days on market $349,000 Active 137 DOM
8. 2026-05-31
   days on market $349,000 Active 136 DOM
9. 2026-01-17
   price $349,000 1227-char remark

   Show marketing remark (1227 chars)

   New to the Μarkеt! Welсοme to thiѕ сharming Fiddler's Cove villa, idеаlly located just a few blocks from the beautiful sands of Folly Field Beach. Don't miss this incredible opportunity to own a slice of paradise on Hilton Head Island! This fully furnished 2-bedroom villa is perfect as a primary residence, a second home, or a high-performing investment property. Currently part of a successful rental program, it has demonstrated strong rental history and income potential. Situated on the third floor, this unit offers a peaceful retreat with no neighbors above and bright, scenic views of the surrounding landscape. Its prime location near the front of the complex provides quick beach access and a short stroll to the community pool and racquetball courts. For added convenience, the villa features in-unit laundry, making longer stays effortless. Thoughtfully equipped and move-in ready, this villa truly makes ownership effortless - just pack your swimsuit and sandals and start enjoying the island lifestyle. Whether you're relaxing after a beach day or entertaining guests, this property delivers comfort, convenience, and coastal charm. Don't let this opportunity pass you by - schedule your showing today!

10. 2026-01-15
    listed $375,000 Active 1227-char remark

    Show marketing remark (1227 chars)

    New to the Μarkеt! Welсοme to thiѕ сharming Fiddler's Cove villa, idеаlly located just a few blocks from the beautiful sands of Folly Field Beach. Don't miss this incredible opportunity to own a slice of paradise on Hilton Head Island! This fully furnished 2-bedroom villa is perfect as a primary residence, a second home, or a high-performing investment property. Currently part of a successful rental program, it has demonstrated strong rental history and income potential. Situated on the third floor, this unit offers a peaceful retreat with no neighbors above and bright, scenic views of the surrounding landscape. Its prime location near the front of the complex provides quick beach access and a short stroll to the community pool and racquetball courts. For added convenience, the villa features in-unit laundry, making longer stays effortless. Thoughtfully equipped and move-in ready, this villa truly makes ownership effortless - just pack your swimsuit and sandals and start enjoying the island lifestyle. Whether you're relaxing after a beach day or entertaining guests, this property delivers comfort, convenience, and coastal charm. Don't let this opportunity pass you by - schedule your showing today!

11. 2021-10-08
    soldstatus $281,000
12. 2021-10-07
    soldstatus $281,000 577-char remark

    Show marketing remark (577 chars)

    * * * STEPS TO THE BEACH * * * Incredibly rare opportunity. UPDATED & in great condition. Excellent for a beach gateway or an investment property for short/long term rentals. Remodeled in 2015. New HVAC in May 2021. It has an updated kitchen, granite counters, white cabinets, wooden floors, smooth ceilings, crown moldings, & FURNISHED. Restaurants within walking distance. Enjoy the bike paths to get around the island. Being mid-island you are close to everything. Grab your chairs and walk over to the beach as you are just steps away. It'll not last long

13. 2021-08-26
    listed $279,900 577-char remark

    Show marketing remark (577 chars)

    * * * STEPS TO THE BEACH * * * Incredibly rare opportunity. UPDATED & in great condition. Excellent for a beach gateway or an investment property for short/long term rentals. Remodeled in 2015. New HVAC in May 2021. It has an updated kitchen, granite counters, white cabinets, wooden floors, smooth ceilings, crown moldings, & FURNISHED. Restaurants within walking distance. Enjoy the bike paths to get around the island. Being mid-island you are close to everything. Grab your chairs and walk over to the beach as you are just steps away. It'll not last long

14. 2017-03-20
    soldstatus $150,000
15. 2017-03-16
    soldstatus $150,000
16. 2016-11-18
    listed $159,000
17. 2011-04-29
    soldstatus $92,000
18. 2011-04-25
    soldstatus $92,000
19. 2010-03-31
    listed $94,000
20. 2005-01-18
    soldstatus $171,900
21. 2005-01-14
    soldstatus $169,900
22. 2004-11-18
    listed $169,900
23. 2003-11-19
    soldstatus $108,000
24. 2000-12-14
    soldstatus $79,000
25. 1994-01-22
    soldstatus $47,000
26. 1988-03-01
    soldstatus $46,000
27. 1981-02-01
    soldstatus $61,900

ⓘ 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: $4,529 · $377/mo
• Projected year-2 tax: $4,529 · $377/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: $35,035
• − Mortgage interest: −$19,549
• − Property taxes: −$4,529
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,803
• − Management: −$2,803
• − HOA: −$6,000
• − Depreciation: −$10,153
• Taxable loss: −$12,547
• Est. tax savings @ 24.0%: +$3,011
• After-tax cash flow: $-3,548/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

+463.8% since first listed

19 events — show timeline

• 2026-01-17 Price Changed $349,000 RSMLS
• 2026-01-15 Listed $375,000 RSMLS
• 2021-10-08 Sold (Public Records) $281,000 Public Records
• 2021-10-07 Sold (MLS) $281,000 RSMLS
• 2021-08-26 Listed $279,900 RSMLS
• 2017-03-20 Sold (Public Records) $150,000 Public Records
• 2017-03-16 Sold (MLS) $150,000 RSMLS
• 2016-11-18 Listed $159,000 RSMLS
• 2011-04-29 Sold (Public Records) $92,000 Public Records
• 2011-04-25 Sold (MLS) $92,000 RSMLS
• 2010-03-31 Listed $94,000 RSMLS
• 2005-01-18 Sold (Public Records) $171,900 Public Records
• 2005-01-14 Sold (MLS) $169,900 RSMLS
• 2004-11-18 Listed $169,900 RSMLS
• 2003-11-19 Sold (Public Records) $108,000 Public Records
• 2000-12-14 Sold (Public Records) $79,000 Public Records
• 1994-01-22 Sold (Public Records) $47,000 Public Records
• 1988-03-01 Sold (Public Records) $46,000 Public Records
• 1981-02-01 Sold (Public Records) $61,900 Public Records

Property tax history

+11.0%/yr

Latest (2025): $4,529 · +1.4% YoY. Source: county tax records.