2317 Martin Luther King Jr Blvd · Savannah, GA 31415

$120,000

6 bd · 2.0 ba · 2,542 sqft · Other public records · 9 Days on market

Built 1900 3,598 sqft lot ↓ 56% since listing

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special!! Historic property waiting for the right investor to restore its glory. Seller is willing to share all engineering drawings and HPC stamped approvals with an acceptable offer. 5 bedroom and 4 full bathrooms. Front and rear porches. 3-bedroom, 2-bathroom unit upstairs and 2-bedroom, 2 bathrooms in the downstairs unit. Hold Harmless Disclosure must be signed before showing will be approved.

Key facts

• Historic property
• Engineering drawings
• 3,598 sq ft lot

Tags

• HISTORIC PROPERTY
• ENGINEERING DRAWINGS
• HPC STAMPED APPROVALS
• FRONT AND REAR PORCHES

Property features AI

Finance

• Other: Zoning: RB
• HOA & community: Playground in the community

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; 2 stories
• Construction: Wood siding; Asphalt roof
• Exterior features: Front porch

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Electric water heater; Has a view

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 17.7% vs local median 4.0% in Savannah — 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 86/100 on livability (#1 in GA, #397 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: employment D, schools F.
• Savannah-Chatham County (urban): math 20% / reading 26% proficiency, ranked #134 of 174 in GA (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 76 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• At $2,489/mo this rent would consume 80% of the median local household income ($37k/yr) (locally 613% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Chatham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.07% ✓
• Cap rate: 17.70%
• Cash-on-cash: 40.76%
• DSCR: 2.81
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 2.59×
• Total profit: $53,273
• Equity at exit: $17,892

10-year hold

• IRR: 43.8%
• Equity multiple: 5.17×
• Total profit: $140,122
• Equity at exit: $10,375

Cash invested: $33,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 31415

• Home prices YoY: -21.4%
• Active inventory: 76
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,489 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$146 /mo · $1,747/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $1,141

Break-even live

Break-even rent $1,044

Max offer price $120,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,209	-5% $1,175	+0% $1,141	+5% $1,107	+10% $1,073
Rent	-10% $945	-5% $1,043	+0% $1,141	+5% $1,240	+10% $1,338
Rate	-1.0pp $1,202	-0.5pp $1,172	base $1,141	+0.5pp $1,110	+1.0pp $1,078

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
809 E Henry St Savannah, GA	5.0	2.0	3081	$3,200	$1.04	14d	1	1.31mi

Listing history 13 events

1. 2026-06-03
   status $120,000 Pending 9 DOM
2. 2026-06-02
   days on market $120,000 Active 9 DOM
3. 2026-06-01
   days on market $120,000 Active 8 DOM
4. 2026-05-31
   days on market $120,000 Active 7 DOM
5. 2026-05-30
   days on market $120,000 Active 6 DOM
6. 2026-05-19
   listed $120,000 Active
7. 2025-12-04
   price $149,000
8. 2024-02-27
   historical
9. 2024-01-18
   listed $375,000
10. 2023-09-21
    historical
11. 2023-08-09
    listed $495,000
12. 2019-11-13
    historical
13. 2019-05-13
    listed $275,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $1,747 · $146/mo
• Projected year-2 tax: $1,747 · $146/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,865
• − Mortgage interest: −$6,722
• − Property taxes: −$1,747
• − Insurance: −$600
• − Repairs & maintenance: −$2,389
• − Management: −$2,389
• − Depreciation: −$3,491
• Taxable income: $12,526
• Est. tax owed @ 24.0%: −$3,006
• After-tax cash flow: $10,688/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: Savannah-Chatham County
• NCES district ID: 1301020
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $47,443
• Composite: 20.14/100
• National rank: #8639
• State rank: #134 of 174 in GA

Livability — Savannah

• Score: 86/100
• State rank: #1
• US rank: #397

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime A+ Employment D Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Savannah, GA
• County: Chatham County · 271,602 people
• City population: 216,564
• Metro: Savannah, GA
• Population (ZIP): 11,082
• Household income: $37,109
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 613.0

Population outlook (Chatham County) Hauer SSP2

• Today (2025): 332,584 people
• By 2030: 355,508 · +6.9%
• By 2040: 400,030 · +20.3%
• By 2050: 443,019 · +33.2%
• By 2075: 534,579 · +60.7%
• By 2100: 583,863 · +75.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (89%)
• Race & ethnicity: Black 89% White 5% Hispanic / Latino 5% Two or more races 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Chatham

• 2024 margin: D (+18.0) · D 58.6% · R 40.6%
• 2008→2024 swing: +3.6pp toward D · 2008: 14.4pp · 2024: 18.0pp
• All cycles: 2024: D+18.0 2020: D+18.8 2016: D+14.5 2012: D+12.0 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.36%
• Current HPI: 203.0696
• Rent YoY: —
• Metro: Savannah, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

-56.4% since first listed

8 events — show timeline

• 2026-05-19 Listed $120,000 Hive MLS
• 2025-12-04 Price Changed $149,000 Hive MLS
• 2024-02-27 Listing Removed — Hive MLS
• 2024-01-18 Listed $375,000 Hive MLS
• 2023-09-21 Listing Removed — Hive MLS
• 2023-08-09 Listed $495,000 Hive MLS
• 2019-11-13 Listing Removed — Hive MLS
• 2019-05-13 Listed $275,000 Hive MLS

Property tax history

+12.2%/yr

Latest (2025): $1,747 · -76.7% YoY. Source: county tax records.