636 W 48th St · Savannah, GA 31405

$195,000

3 bd · 2.0 ba · 1,251 sqft · SingleFamily public records · 23 Days on market

Built 1945 3,642 sqft lot Est $278k · 30% under

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Why this score? — see what drove the C 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• Livability +4.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Renovated, three bedroom, two bath home, built in 1945. This is a perfect home for a first time buyer or an investor looking for a rental property to add to their portfolio.

Key facts

• 3,642 sq ft lot
• Garage
• Built 1945

Property features AI

Exterior

• Parking: Has garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Block construction
• Exterior features: Lot in R6 zoning; Located off Florance St.; Subdivision: Colding Ward

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Electric water heater
• Laundry & utility: Washer hookup; Laundry located in kitchen; Separate laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (1.0% below list).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Rents soft (-0.7%/yr); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• This rent runs 35% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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 $129k; list at $195k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $192,075 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — 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: 0.99% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.03%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $277,722
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 W 47th St	0.04mi	3/2.0	1,231 (-2%)	10mo	$239,975	$195	87
601 W 45th St	0.17mi	3/2.0	1,323 (+6%)	7mo	$344,900	$261	77
905 W 41st St	0.36mi	3/1.0	1,264 (+1%)	5mo	$125,000	$99	74
705 W 44th St	0.19mi	3/1.0	1,144 (-9%)	2mo	$95,000	$83	71
808 W 53rd St	0.30mi	3/2.0	1,170 (-6%)	6mo	$260,000	$222	70
623 W 45th St	0.14mi	3/2.0	1,378 (+10%)	8mo	$305,000	$221	70
106 W 52nd St	0.39mi	3/2.0	1,323 (+6%)	8mo	$385,000	$291	66
922 W 42nd St	0.41mi	3/2.0	1,380 (+10%)	6mo	$250,000	$181	58
819 W 42nd St	0.34mi	3/2.0	1,104 (-12%)	9mo	$250,000	$226	57
603 W 42nd St	0.31mi	3/2.0	1,080 (-14%)	9mo	$247,000	$229	55
627 W 35th St	0.70mi	3/1.0	1,301 (+4%)	7mo	$189,000	$145	51
3903 Crane St	0.54mi	2/2.0 (-1)	1,072 (-14%)	2mo	$263,800	$246	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.64×
• Total profit: $-19,810
• Equity at exit: $29,075

10-year hold

• IRR: -5.4%
• Equity multiple: 0.69×
• Total profit: $-16,731
• Equity at exit: $16,860

Cash invested: $54,600 (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 31405

• Home prices YoY: -32.4%
• Rents YoY: -0.7%
• Active inventory: 276
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$146 /mo · $1,757/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $274

Break-even live

Break-even rent $1,583

Max offer price $195,000

Occupancy floor 81%

Sensitivity live

Price	-10% $385	-5% $330	+0% $274	+5% $219	+10% $164
Rent	-10% $122	-5% $198	+0% $274	+5% $351	+10% $427
Rate	-1.0pp $373	-0.5pp $324	base $274	+0.5pp $224	+1.0pp $172

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
628 W 48th St Savannah, GA	3.0	1.0	975	$1,699	$1.74	15d	1	0.02mi
607 W 44th St Unit B Savannah, GA	3.0	1.0	1050	$1,650	$1.57	45d	1	0.20mi
1003 W 46th St Savannah, GA	3.0	1.0	1100	$1,625	$1.48	15d	1	0.25mi
906 W Victory Dr Savannah, GA	3.0	2.0	1176	$2,400	$2.04	25d	1	0.31mi
2705 Stevens St Savannah, GA	3.0	1.0	900	$1,585	$1.76	45d	1	0.33mi
1005 W Victory Dr Savannah, GA	3.0	2.0	1056	$1,950	$1.85	25d	1	0.34mi
2613 Montgomery St Unit B303 Savannah, GA	2.0	2.0	879	$3,472	$3.95	45d	1	0.34mi
119 W 52nd St Savannah, GA	2.0	1.0	1020	$1,800	$1.76	45d	1	0.35mi
1004 W 53rd St Savannah, GA	3.0	2.0	1700	$2,300	$1.35	45d	1	0.36mi
1014 W 53rd St Savannah, GA	3.0	2.0	1048	$1,600	$1.53	15d	1	0.37mi
310 W 42nd St Savannah, GA	3.0	2.0	1300	$1,800	$1.38	45d	1	0.41mi
2604 Jefferson St Savannah, GA	2.0	1.0	910	$1,900	$2.09	45d	1	0.41mi
216 W 43rd St Savannah, GA	3.0	3.0	1722	$2,900	$1.68	25d	1	0.42mi
601 W 54th St Savannah, GA	1.0–4.0	1.0–2.0	881	$1,633	$1.85	25d	1	0.43mi
12 W 51st St Savannah, GA	2.0	1.0	932	$2,500	$2.68	25d	1	0.44mi
3211 Bull St Unit A Savannah, GA	2.0	1.0	1000	$1,975	$1.98	45d	1	0.45mi
3301 Bull St Unit 4 Savannah, GA	2.0	1.0	1000	$1,750	$1.75	25d	1	0.46mi
1026 W 41st St Savannah, GA	3.0	1.0	1128	$1,500	$1.33	15d	1	0.47mi
1011 W 40th St Savannah, GA	3.0	2.0	1125	$1,995	$1.77	15d	1	0.47mi
1109 W 41st St Savannah, GA	3.0	1.0	960	$1,620	$1.69	45d	1	0.48mi
4 W 53rd St Unit 4 Savannah, GA	2.0	1.0	960	$1,400	$1.46	45d	1	0.49mi
2221 Harden St Savannah, GA	3.0	1.0	1000	$1,550	$1.55	45d	1	0.49mi
2910 Bull St Savannah, GA	3.0	2.0	1200	$3,500	$2.92	45d	1	0.50mi
2 W 53rd St #3 Savannah, GA	2.0	1.0	1122	$1,750	$1.56	45d	1	0.50mi
3601 Bull St Apt 3 Savannah, GA	3.0	2.0	1386	$1,825	$1.32	45d	1	0.51mi
3601 Bull St Unit 2 Savannah, GA	3.0	2.0	1386	$1,900	$1.37	45d	1	0.51mi
2203 Harden St Unit A Savannah, GA	3.0	1.0	900	$2,100	$2.33	15d	1	0.51mi
20 W 54th St Savannah, GA	2.0	1.0	950	$1,200	$1.26	25d	1	0.51mi
211 W 40th St Unit B Savannah, GA	3.0	1.0	1400	$3,200	$2.29	25d	1	0.51mi
3605 Bull St #2 Savannah, GA	3.0	2.0	1408	$1,695	$1.20	45d	1	0.51mi
3605 Bull St Unit 3 Savannah, GA	3.0	2.0	1408	$1,600	$1.14	25d	1	0.51mi
714 W 38th St Savannah, GA	3.0	1.5	1200	$1,650	$1.38	25d	1	0.52mi
2123 Harden St Savannah, GA	2.0	1.0	1000	$1,550	$1.55	25d	1	0.52mi
620 W 38th St Unit B Savannah, GA	2.0	1.0	1076	$1,600	$1.49	45d	1	0.54mi
630 W 38th St Savannah, GA	3.0	2.0	1600	$1,950	$1.22	15d	1	0.54mi
118 W 56th St Savannah, GA	2.0	1.0	936	$1,625	$1.74	15d	1	0.55mi
516 W 38th St Unit 1/2 Savannah, GA	3.0	1.0	1176	$1,600	$1.36	25d	1	0.55mi
516 W 38th St Unit 1/2 Savannah, GA	3.0	1.0	1176	$1,500	$1.28	15d	1	0.55mi
213 W 39th St Unit B Savannah, GA	3.0	2.0	1000	$2,250	$2.25	25d	1	0.56mi
601 W 37th St Unit B Savannah, GA	2.0	2.0	1300	$2,000	$1.54	45d	1	0.58mi

Listing history 18 events

1. 2026-06-21
   days on market $195,000 Active 23 DOM
2. 2026-06-18
   days on market $195,000 Active 20 DOM
3. 2026-06-17
   days on market $195,000 Active 19 DOM
4. 2026-06-16
   days on market $195,000 Active 18 DOM
5. 2026-06-15
   days on market $195,000 Active 17 DOM
6. 2026-06-14
   days on market $195,000 Active 15 DOM
7. 2026-06-13
   days on market $195,000 Active 14 DOM
8. 2026-06-10
   days on market $195,000 Active 12 DOM
9. 2026-06-09
   days on market $195,000 Active 11 DOM
10. 2026-06-08
    days on market $195,000 Active 10 DOM
11. 2026-06-07
    days on market $195,000 Active 9 DOM
12. 2026-06-05
    days on market $195,000 Active 6 DOM
13. 2026-06-03
    days on market $195,000 Active 5 DOM
14. 2026-06-02
    days on market $195,000 Active 4 DOM
15. 2026-06-01
    days on market $195,000 Active 3 DOM
16. 2026-05-31
    days on market $195,000 Active 2 DOM
17. 2026-05-30
    remarks 173-char remark
18. 2026-05-30
    listed $195,000 Active 1 DOM

ⓘ 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: $1,757 · $146/mo
• Projected year-2 tax: $1,794 · $150/mo
• Expected delta: +$37/yr (+$3/mo · 2.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 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: $23,160
• − Mortgage interest: −$10,923
• − Property taxes: −$1,757
• − Insurance: −$975
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$5,673
• Taxable income: $126
• Est. tax owed @ 24.0%: −$30
• After-tax cash flow: $3,262/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): 40,764
• Household income: $65,710
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 1712.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 47% White 38% Hispanic / Latino 8% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

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: ▼ -147.33%
• Current HPI: 307.4442
• Rent YoY: ▼ -0.66%
• 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

+680.0% since first listed

23 events — show timeline

• 2026-05-29 Listed $195,000 Hive MLS
• 2026-04-07 Listing Removed — Hive MLS
• 2026-03-29 Contingent — Hive MLS
• 2026-03-27 Relisted — Hive MLS
• 2026-03-27 Price Changed $199,900 Hive MLS
• 2026-03-10 Contingent — Hive MLS
• 2026-02-10 Listed $214,900 Hive MLS
• 2026-02-09 Listing Removed — Hive MLS
• 2026-02-03 Price Changed $229,900 Hive MLS
• 2026-01-26 Price Changed $239,900 Hive MLS
• 2026-01-19 Price Changed $244,900 Hive MLS
• 2026-01-07 Price Changed $249,900 Hive MLS
• 2025-12-09 Listed $255,000 Hive MLS
• 2025-12-08 Rental Removed $1,900 SMLC
• 2025-11-19 Price Changed $1,900 SMLC
• 2025-10-28 Listed for Rent $2,050 SMLC
• 2025-10-11 Listing Removed — Hive MLS
• 2025-07-11 Listed $244,900 Hive MLS
• 2024-03-01 Sold (Public Records) $129,000 Public Records
• 2024-02-28 Sold (MLS) $129,000 Hive MLS
• 2024-01-11 Listed $134,900 Hive MLS
• 2023-09-01 Sold (Public Records) $57,809 Public Records
• 1978-06-01 Sold (Public Records) $25,000 Public Records

Property tax history

+23.8%/yr

Latest (2025): $1,757 · +2174.7% YoY. Source: county tax records.