90 Gloucester Rd #1102 · Hilton Head Island, SC 29928

$469,900

2 bd · 2.5 ba · 1,144 sqft · Condo public records · 62 Days on market

Built 1977 $411/sqft · at area comps Est $457k · at est.

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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 +6.7/30.0
• Appreciation +6.6/10.0
• ARV discount +6.2/15.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0

Listing remarks MLS

Perfect opportunity to own in the sought after Harbourmaster community of Shipyard. 2022 Extremely well renovated townhome with new appliances, new carpet throughout, new washer and dryer along with crown molding. 2BD / 2.5 Bath Villa. Featuring privacy and convenience to the beach, golf course, the community pool, biking trails or to the fun commercial area found on the south end of the island. Generous floor plan includes living room and updated kitchen, half bath, private patio and decking.

Key facts

• Community pool
• Built 1977
• Listed 62 days

Tags

• MULTI-USE CONDOMINIUM
• SECOND FLOOR BEDROOMS
• EASY ACCESS TO POPE AVENUE
• EASY ACCESS TO COLIGNY PLAZA
• EASE OF ACCESS TO DINING
• EASE OF ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Pets allowed only by owner
• HOA & community: Association management and common area maintenance included; Flood insurance and insurance included; Grounds maintenance and pest control included; Sewer, trash and water included; Community amenities include clubhouse, pool, golf course, guarded entry, and tennis courts

Exterior

• Parking: Unassigned parking
• Security: Security gate; Security guard; Smoke detector(s)
• Utilities: Public water
• Home design: Condo/Apartment (unit in a multi-unit building)
• Construction: Stucco construction; Asphalt roof
• Exterior features: Paved driveway; Free-form community pool; Property has a view; Faces northeast

Interior

• Kitchen: Eat-in kitchen; Oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on an upper level
• Flooring: Luxury vinyl; Luxury vinyl plank; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric, heat pump); Central cooling (electric, heat pump)
• Interior features: Ceiling fan(s); Cable TV; Entrance foyer; Upper-level primary; Eat-in kitchen; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $470k.

Deal economics

• At list price, monthly cash flow is $-753 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $421k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $363k (22.7% below list).
• Recommended offer: $363k (22.7% 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); 853 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 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 $18k of equity ($3k loan paydown + $15k 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 ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($442k) 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 $405k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $363,113 (22.7% 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 62 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.77% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.87%
• DSCR: 0.69
• GRM: 10.8

CMA / ARV

• ARV (median comp): $456,739
• List price: $469,900
• Delta: 2.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.9%
• Equity multiple: 1.11×
• Total profit: $14,959
• Equity at exit: $216,797

10-year hold

• IRR: 5.6%
• Equity multiple: 1.88×
• Total profit: $115,760
• Equity at exit: $338,457

Cash invested: $131,572 (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: 853
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $3,631 high
• Mortgage (P&I): −$2,464
• Tax from tax record: −$484 /mo · $5,802/yr
• Insurance: −$196
• HOA est. from 6 same-building comps: −$478
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $-753

Break-even live

Break-even rent $4,584

Max offer price $336,895

Occupancy floor —

Sensitivity live

Price	-10% $-487	-5% $-620	+0% $-753	+5% $-886	+10% $-1,019
Rent	-10% $-1,040	-5% $-896	+0% $-753	+5% $-609	+10% $-466
Rate	-1.0pp $-516	-0.5pp $-633	base $-753	+0.5pp $-875	+1.0pp $-999

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: $117,475
• Closing costs: $14,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Deallyon Ave Unit 1498585P Hilton Head Island, SC	2.0	2.5	990	$2,706	$2.73	16d	1	0.69mi
21 Lagoon Rd Unit 1508866P Hilton Head Island, SC	2.0	2.0	742	$2,687	$3.62	16d	1	0.78mi
19 Lemoyne Ave Unit 1470518P Hilton Head Island, SC	2.0	2.5	1033	$2,673	$2.59	16d	1	0.90mi
10 N Forest Beach Dr Unit 1470517P Hilton Head Island, SC	2.0	2.0	1323	$5,684	$4.30	23d	1	0.93mi
10 Lemoyne Ave Unit 1322533P Hilton Head Island, SC	2.0	2.0	839	$4,267	$5.09	16d	1	1.00mi
125 Shipyard Dr #148 Hilton Head Island, SC	3.0	3.0	1400	$3,200	$2.29	46d	1	1.28mi

HOA detail condo

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

Listing history 34 events

1. 2026-06-23
   days on market $469,900 Active 62 DOM
2. 2026-06-21
   days on market $469,900 Active 61 DOM
3. 2026-06-18
   days on market $469,900 Active 58 DOM
4. 2026-06-17
   days on market $469,900 Active 57 DOM
5. 2026-06-16
   days on market $469,900 Active 56 DOM
6. 2026-06-15
   days on market $469,900 Active 55 DOM
7. 2026-06-14
   days on market $469,900 Active 53 DOM
8. 2026-06-13
   days on market $469,900 Active 52 DOM
9. 2026-06-10
   days on market $469,900 Active 50 DOM
10. 2026-06-09
    days on market $469,900 Active 49 DOM
11. 2026-06-08
    days on market $469,900 Active 48 DOM
12. 2026-06-07
    days on market $469,900 Active 47 DOM
13. 2026-06-05
    days on market $469,900 Active 44 DOM
14. 2026-06-03
    days on market $469,900 Active 43 DOM
15. 2026-06-02
    days on market $469,900 Active 42 DOM
16. 2026-06-01
    days on market $469,900 Active 41 DOM
17. 2026-05-31
    days on market $469,900 Active 40 DOM
18. 2026-04-21
    listed $469,900 Active 622-char remark
19. 2022-08-03
    soldstatus $405,000
20. 2022-08-02
    soldstatus $405,000 Closed 498-char remark

    Show marketing remark (498 chars)

    Perfect opportunity to own in the sought after Harbourmaster community of Shipyard. 2022 Extremely well renovated townhome with new appliances, new carpet throughout, new washer and dryer along with crown molding. 2BD / 2.5 Bath Villa. Featuring privacy and convenience to the beach, golf course, the community pool, biking trails or to the fun commercial area found on the south end of the island. Generous floor plan includes living room and updated kitchen, half bath, private patio and decking.

21. 2022-07-19
    status Pending 498-char remark

    Show marketing remark (498 chars)

    Perfect opportunity to own in the sought after Harbourmaster community of Shipyard. 2022 Extremely well renovated townhome with new appliances, new carpet throughout, new washer and dryer along with crown molding. 2BD / 2.5 Bath Villa. Featuring privacy and convenience to the beach, golf course, the community pool, biking trails or to the fun commercial area found on the south end of the island. Generous floor plan includes living room and updated kitchen, half bath, private patio and decking.

22. 2022-07-08
    price $419,000 498-char remark

    Show marketing remark (498 chars)

    Perfect opportunity to own in the sought after Harbourmaster community of Shipyard. 2022 Extremely well renovated townhome with new appliances, new carpet throughout, new washer and dryer along with crown molding. 2BD / 2.5 Bath Villa. Featuring privacy and convenience to the beach, golf course, the community pool, biking trails or to the fun commercial area found on the south end of the island. Generous floor plan includes living room and updated kitchen, half bath, private patio and decking.

23. 2022-06-16
    listed $449,900 Active 498-char remark

    Show marketing remark (498 chars)

    Perfect opportunity to own in the sought after Harbourmaster community of Shipyard. 2022 Extremely well renovated townhome with new appliances, new carpet throughout, new washer and dryer along with crown molding. 2BD / 2.5 Bath Villa. Featuring privacy and convenience to the beach, golf course, the community pool, biking trails or to the fun commercial area found on the south end of the island. Generous floor plan includes living room and updated kitchen, half bath, private patio and decking.

24. 2019-06-26
    soldstatus $175,000

    Show marketing remark (129 chars)

    Harbourmaster 2 bedroom, 2.5 bath unit with large kitchen and spacious living room. Recently renovated the kitchen and bathrooms.

25. 2019-04-25
    listed $224,000

    Show marketing remark (129 chars)

    Harbourmaster 2 bedroom, 2.5 bath unit with large kitchen and spacious living room. Recently renovated the kitchen and bathrooms.

26. 2014-04-02
    soldstatus $149,900
27. 2013-10-25
    listed $154,900
28. 2010-10-02
    listed $210,000
29. 2005-01-25
    soldstatus $189,901
30. 2005-01-14
    soldstatus $189,901
31. 2004-10-12
    listed $189,900
32. 1988-03-01
    soldstatus $68,500
33. 1981-05-01
    soldstatus $74,000
34. 1978-06-01
    soldstatus $54,000

ⓘ 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: $5,802 · $484/mo
• Projected year-2 tax: $5,802 · $484/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: $43,574
• − Mortgage interest: −$26,322
• − Property taxes: −$5,802
• − Insurance: −$2,350
• − Repairs & maintenance: −$3,486
• − Management: −$3,486
• − HOA: −$5,736
• − Depreciation: −$13,670
• Taxable loss: −$17,277
• Est. tax savings @ 24.0%: +$4,147
• After-tax cash flow: $-4,888/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

+770.2% since first listed

17 events — show timeline

• 2026-04-21 Listed $469,900 RSMLS
• 2022-08-03 Sold (Public Records) $405,000 Public Records
• 2022-08-02 Sold (MLS) $405,000 RSMLS
• 2022-07-19 Pending — RSMLS
• 2022-07-08 Price Changed $419,000 RSMLS
• 2022-06-16 Listed $449,900 RSMLS
• 2019-06-26 Sold (MLS) $175,000 RSMLS
• 2019-04-25 Listed $224,000 RSMLS
• 2014-04-02 Sold (MLS) $149,900 RSMLS
• 2013-10-25 Listed $154,900 RSMLS
• 2010-10-02 Listed $210,000 RSMLS
• 2005-01-25 Sold (Public Records) $189,901 Public Records
• 2005-01-14 Sold (MLS) $189,901 RSMLS
• 2004-10-12 Listed $189,900 RSMLS
• 1988-03-01 Sold (Public Records) $68,500 Public Records
• 1981-05-01 Sold (Public Records) $74,000 Public Records
• 1978-06-01 Sold (Public Records) $54,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $5,802 · +191.8% YoY. Source: county tax records.