96 Mathews Dr #106 · Hilton Head Island, SC 29926

$240,000

2 bd · 2.5 ba · 784 sqft · Condo public records · 29 Days on market

Built 1982

---

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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.1/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-BEDROOM, 2.5-BATH CONDO in Woodlake with a LAGOON AND FOUNTAIN VIEW...this well-located condo sits conveniently near the gated entry and close to the community amenities, making everyday living easy and practical...the layout offers comfortable living space, two bedrooms, two full bathrooms, and a half bath, giving the property flexibility for a primary residence, second home, or long-term rental investment...Woodlake offers a SECURITY GATE, COMMUNITY POOL, FITNESS CENTER, TENNIS COURTS, PLAYGROUND, DOG PARK, and on-site management...the location is one of the biggest advantages, with easy access to shopping, restaurants, entertainment, churches, schools, the hospital, Hilton Head bike paths, and the beach just about a mile away...close to Aldi, Food Lion, and other mid-island convenienc

Key facts

• Water views
• Community amenities
• Private bath access

Tags

• WATER VIEWS
• OPEN LIVING AREA
• SCREENED PORCH
• DEDICATED DINING AREA
• PRIVATE BATH ACCESS
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Pets allowed with restrictions; dogs OK with breed and number limits
• HOA & community: Association manages common areas and grounds; Association covers insurance and structure maintenance; Pest control provided; Pool and tennis courts maintained by association; Reserve fund; Sewer and water included; Trash service included; Association amenities include clubhouse, dog park, fitness center, playground, pickleball, pool, and guard

Exterior

• Parking: Unassigned parking
• Security: Security gate
• Utilities: Public water
• Construction: Masonry construction; Asphalt roof
• Exterior features: Patio; Community free-form pool; Has a view; Security gate

Interior

• Kitchen: Dishwasher; Stove; Refrigerator
• Flooring: Engineered hardwood; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral ceilings and vaulted ceilings; High ceilings; Multiple closets; Upper-level primary; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-76 ($-918/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 5.9% 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 soft (-0.2%/yr); 385 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 32% 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 $7k 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

• It's been on market 29 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,400 (1.5% 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: 1.08% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 7.7

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: -22.8%
• Equity multiple: 0.24×
• Total profit: $-51,038
• Equity at exit: $35,785

10-year hold

• IRR: -32.6%
• Equity multiple: -0.17×
• Total profit: $-78,776
• Equity at exit: $20,751

Cash invested: $67,200 (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: 385
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,595 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$236 /mo · $2,830/yr
• Insurance: −$100
• HOA est. from 21 same-building comps: −$532
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $-76

Break-even live

Break-even rent $2,692

Max offer price $226,493

Occupancy floor 98%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Mathews Dr #87 Hilton Head Island, SC	2.0	2.0	1000	$2,500	$2.50	44d	1	0.03mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0–2.5	1000	$2,500	$2.50	21d	2	0.08mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0	1012	$2,400	$2.37	13d	2	0.08mi
55 Gardner Dr Hilton Head Island, SC	1.0–3.0	1.0–2.0	1175	$2,902	$2.47	13d	9	0.26mi
3 Burkes Beach Rd Unit B Hilton Head Island, SC	2.0	2.0	1100	$2,500	$2.27	13d	1	1.00mi
112 Union Cemetery Rd Hilton Head Island, SC	2.0	2.0	1025	$2,125	$2.07	13d	1	1.08mi
662 William Hilton Pkwy Unit 1468397P Hilton Head Island, SC	2.0	2.0	828	$2,632	$3.18	21d	1	1.35mi
663 William Hilton Pkwy #2121 Hilton Head Island, SC	2.0	2.0	900	$2,200	$2.44	44d	1	1.42mi

HOA detail condo

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

Listing history 34 events

1. 2026-06-18
   days on market $240,000 Active 29 DOM
2. 2026-06-17
   days on market $240,000 Active 28 DOM
3. 2026-06-16
   days on market $240,000 Active 27 DOM
4. 2026-06-15
   days on market $240,000 Active 26 DOM
5. 2026-06-14
   days on market $240,000 Active 24 DOM
6. 2026-06-13
   days on market $240,000 Active 23 DOM
7. 2026-06-10
   days on market $240,000 Active 21 DOM
8. 2026-06-09
   days on market $240,000 Active 20 DOM
9. 2026-06-08
   days on market $240,000 Active 19 DOM
10. 2026-06-07
    days on market $240,000 Active 18 DOM
11. 2026-06-05
    days on market $240,000 Active 15 DOM
12. 2026-06-03
    days on market $240,000 Active 14 DOM
13. 2026-06-02
    days on market $240,000 Active 13 DOM
14. 2026-06-01
    days on market $240,000 Active 12 DOM
15. 2026-05-31
    days on market $240,000 Active 11 DOM
16. 2026-05-30
    days on market $240,000 Active 10 DOM
17. 2026-05-21
    listed $240,000 Active
18. 2026-05-20
    listed $240,000 Active 800-char remark

    Show marketing remark (800 chars)

    2-BEDROOM, 2.5-BATH CONDO in Woodlake with a LAGOON AND FOUNTAIN VIEW...this well-located condo sits conveniently near the gated entry and close to the community amenities, making everyday living easy and practical...the layout offers comfortable living space, two bedrooms, two full bathrooms, and a half bath, giving the property flexibility for a primary residence, second home, or long-term rental investment...Woodlake offers a SECURITY GATE, COMMUNITY POOL, FITNESS CENTER, TENNIS COURTS, PLAYGROUND, DOG PARK, and on-site management...the location is one of the biggest advantages, with easy access to shopping, restaurants, entertainment, churches, schools, the hospital, Hilton Head bike paths, and the beach just about a mile away...close to Aldi, Food Lion, and other mid-island convenienc

19. 2022-04-29
    soldstatus $185,000 338-char remark

    Show marketing remark (338 chars)

    Nice unit with awesome lagoon & fountain view. Bathrooms updated. Great 2 bedroom 2.5 bath townhome conveniently located near the gated entry. Woodlake amenities include a security gate, swimming pool, tennis courts, playground and a fitness center. Woodlake is located mid-island close to churches, schools, hospital and the beach.

20. 2022-03-23
    listed $175,000 338-char remark

    Show marketing remark (338 chars)

    Nice unit with awesome lagoon & fountain view. Bathrooms updated. Great 2 bedroom 2.5 bath townhome conveniently located near the gated entry. Woodlake amenities include a security gate, swimming pool, tennis courts, playground and a fitness center. Woodlake is located mid-island close to churches, schools, hospital and the beach.

21. 2007-02-19
    soldstatus $133,000
22. 2007-02-14
    soldstatus $133,000
23. 2006-12-11
    listed $149,900
24. 2005-06-08
    soldstatus $126,900
25. 2005-05-23
    soldstatus $126,900
26. 2005-03-28
    listed $126,900
27. 2005-02-23
    soldstatus $84,000
28. 2005-02-18
    soldstatus $84,000
29. 2004-10-20
    listed $89,900
30. 1998-03-26
    soldstatus $67,000
31. 1995-04-17
    soldstatus $51,000
32. 1994-08-01
    soldstatus $46,500
33. 1992-09-24
    soldstatus $40,000
34. 1983-03-01
    soldstatus $49,500

ⓘ 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: $2,830 · $236/mo
• Projected year-2 tax: $2,830 · $236/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 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 19 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: $31,139
• − Mortgage interest: −$13,444
• − Property taxes: −$2,830
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,491
• − Management: −$2,491
• − HOA: −$6,384
• − Depreciation: −$6,982
• Taxable loss: −$4,683
• Est. tax savings @ 24.0%: +$1,124
• After-tax cash flow: $206/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): 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

+384.8% since first listed

18 events — show timeline

• 2026-05-21 Listed $240,000 RSMLS
• 2026-05-20 Listed $240,000 LRMLS
• 2022-04-29 Sold (MLS) $185,000 RSMLS
• 2022-03-23 Listed $175,000 RSMLS
• 2007-02-19 Sold (Public Records) $133,000 Public Records
• 2007-02-14 Sold (MLS) $133,000 RSMLS
• 2006-12-11 Listed $149,900 RSMLS
• 2005-06-08 Sold (Public Records) $126,900 Public Records
• 2005-05-23 Sold (MLS) $126,900 RSMLS
• 2005-03-28 Listed $126,900 RSMLS
• 2005-02-23 Sold (Public Records) $84,000 Public Records
• 2005-02-18 Sold (MLS) $84,000 RSMLS
• 2004-10-20 Listed $89,900 RSMLS
• 1998-03-26 Sold (Public Records) $67,000 Public Records
• 1995-04-17 Sold (Public Records) $51,000 Public Records
• 1994-08-01 Sold (Public Records) $46,500 Public Records
• 1992-09-24 Sold (Public Records) $40,000 Public Records
• 1983-03-01 Sold (Public Records) $49,500 Public Records

Property tax history

+15.4%/yr

Latest (2025): $2,830 · +1.4% YoY. Source: county tax records.