40 Folly Field Rd Unit B6 · Hilton Head Island, SC 29928

$304,900

2 bd · 2.0 ba · 888 sqft · Condo public records · 41 Days on market

Built 1980 $343/sqft · 19% below area Est $376k · 19% under

---

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 +15.0/15.0
• Cash flow +8.0/30.0
• Appreciation +6.6/10.0
• 1% rule +4.6/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0

Listing remarks MLS

Beautifully upgraded 2BR / 2BA villa at Hilton Head Beach and Tennis! Nicely furnished. Easy access first floor unit, New AC inside and out on 4/28/2008. Huge oceanfront pool with Bar & Grill. Tennis courts. 24hr security & gate. Onsite restaurant & lounge. Onsite convenience store and convention center.

Key facts

• Pickleball courts
• Oceanfront pool
• 24 hour security

Tags

• OCEANFRONT POOL
• LIGHTED TENNIS COURTS
• PICKLEBALL COURTS
• FITNESS
• 24 HOUR SECURITY

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association amenities include beach rights and access, fitness center, golf course, barbecue, playground, pickleball, pool, restaurant, guard, tennis courts, trails, and cable TV; Association fees cover management, common areas, cable TV, insurance, internet/high speed internet, grounds and structure maintenance, pest control, reserve fund, sewer, trash, and water

Exterior

• Parking: Unassigned parking
• Security: Security guard
• Utilities: Public water
• Home design: One-story property; Wood siding exterior; Asphalt roof
• Construction: Wood siding construction; Asphalt roof
• Exterior features: Porch; Rear porch; Free-form community pool; Waterfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Multiple closets; Cable TV; Entrance foyer
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $-312 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (4.2% below list).
• Recommended offer: $292k (4.2% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $12k of equity ($2k loan paydown + $10k 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 ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $140k; list at $305k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $291,960 (4.2% 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 41 days. Have you received any prior offers? Is the seller open to a 4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 5.06%
• Cash-on-cash: -4.39%
• DSCR: 0.80
• GRM: 8.7

CMA / ARV

• ARV (median comp): $375,673
• List price: $304,900
• Delta: -18.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.25×
• Total profit: $21,223
• Equity at exit: $140,671

10-year hold

• IRR: 7.6%
• Equity multiple: 2.18×
• Total profit: $100,824
• Equity at exit: $219,612

Cash invested: $85,372 (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: 8.7×

Monthly cashflow live

• Estimated rent: $2,920 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$196 /mo · $2,352/yr
• Insurance: −$127
• HOA est. from 12 same-building comps: −$697
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-312

Break-even live

Break-even rent $3,315

Max offer price $249,697

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: $76,225
• Closing costs: $9,147
• 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	13d	1	0.46mi
663 William Hilton Pkwy #2121 Hilton Head Island, SC	2.0	2.0	900	$2,200	$2.44	44d	1	0.96mi
96 Mathews Dr #87 Hilton Head Island, SC	2.0	2.0	1000	$2,500	$2.50	44d	1	1.03mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0–2.5	1000	$2,500	$2.50	21d	2	1.05mi
96 Mathews Dr Hilton Head Island, SC	2.0	2.0	1012	$2,400	$2.37	13d	2	1.05mi
662 William Hilton Pkwy Unit 1468397P Hilton Head Island, SC	2.0	2.0	828	$2,632	$3.18	21d	1	1.10mi
55 Gardner Dr Hilton Head Island, SC	1.0–3.0	1.0–2.0	1175	$2,902	$2.47	13d	9	1.29mi
112 Union Cemetery Rd Hilton Head Island, SC	2.0	2.0	1025	$2,125	$2.07	13d	1	1.49mi

HOA detail condo

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

Listing history 24 events

1. 2026-06-18
   days on market $304,900 Active 41 DOM
2. 2026-06-17
   days on market $304,900 Active 40 DOM
3. 2026-06-16
   days on market $304,900 Active 39 DOM
4. 2026-06-15
   days on market $304,900 Active 38 DOM
5. 2026-06-14
   days on market $304,900 Active 36 DOM
6. 2026-06-13
   days on market $304,900 Active 35 DOM
7. 2026-06-10
   days on market $304,900 Active 33 DOM
8. 2026-06-09
   days on market $304,900 Active 32 DOM
9. 2026-06-08
   days on market $304,900 Active 31 DOM
10. 2026-06-07
    days on market $304,900 Active 30 DOM
11. 2026-06-05
    pricedays on market $304,900 Active 27 DOM
12. 2026-06-03
    days on market $309,900 Active 26 DOM
13. 2026-06-02
    days on market $309,900 Active 25 DOM
14. 2026-06-01
    days on market $309,900 Active 24 DOM
15. 2026-05-31
    days on market $309,900 Active 23 DOM
16. 2026-05-30
    days on market $309,900 Active 22 DOM
17. 2026-05-08
    listed $309,900 Active 390-char remark
18. 2009-03-25
    soldstatus $140,000 323-char remark

    Show marketing remark (323 chars)

    Beautifully upgraded 2BR / 2BA villa at Hilton Head Beach and Tennis! Nicely furnished. Easy access first floor unit, New AC inside and out on 4/28/2008. Huge oceanfront pool with Bar & Grill. Tennis courts. 24hr security & gate. Onsite restaurant & lounge. Onsite convenience store and convention center.

19. 2009-03-25
    soldstatus $140,000

    Show marketing remark (323 chars)

    Beautifully upgraded 2BR / 2BA villa at Hilton Head Beach and Tennis! Nicely furnished. Easy access first floor unit, New AC inside and out on 4/28/2008. Huge oceanfront pool with Bar & Grill. Tennis courts. 24hr security & gate. Onsite restaurant & lounge. Onsite convenience store and convention center.

20. 2009-01-19
    listed $169,900 323-char remark

    Show marketing remark (323 chars)

    Beautifully upgraded 2BR / 2BA villa at Hilton Head Beach and Tennis! Nicely furnished. Easy access first floor unit, New AC inside and out on 4/28/2008. Huge oceanfront pool with Bar & Grill. Tennis courts. 24hr security & gate. Onsite restaurant & lounge. Onsite convenience store and convention center.

21. 1991-07-22
    soldstatus $37,000
22. 1990-04-30
    soldstatus $37,500
23. 1984-03-01
    soldstatus $46,500
24. 1981-03-01
    soldstatus $49,900

ⓘ 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: $2,352 · $196/mo
• Projected year-2 tax: $2,352 · $196/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: −$17,079
• − Property taxes: −$2,352
• − Insurance: −$1,524
• − Repairs & maintenance: −$2,803
• − Management: −$2,803
• − HOA: −$8,364
• − Depreciation: −$8,870
• Taxable loss: −$8,760
• Est. tax savings @ 24.0%: +$2,102
• After-tax cash flow: $-1,648/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

+511.0% since first listed

9 events — show timeline

• 2026-06-04 Price Changed $304,900 RSMLS
• 2026-05-08 Listed $309,900 RSMLS
• 2009-03-25 Sold (Public Records) $140,000 Public Records
• 2009-03-25 Sold (MLS) $140,000 RSMLS
• 2009-01-19 Listed $169,900 RSMLS
• 1991-07-22 Sold (Public Records) $37,000 Public Records
• 1990-04-30 Sold (Public Records) $37,500 Public Records
• 1984-03-01 Sold (Public Records) $46,500 Public Records
• 1981-03-01 Sold (Public Records) $49,900 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,352 · +1.5% YoY. Source: county tax records.