2238 Alaska St · Savannah, GA 31404

$149,900

3 bd · 1.0 ba · 1,185 sqft · SingleFamily public records · 7 Days on market

Built 1952 10,454 sqft lot $126/sqft · 38% below area Est $240k · 38% under ↓ 3% since listing

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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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.6/10.0
• Livability +4.3/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Fresh out of Probate, This Excellent Investor property has the possibility of converting the garage to a 2nd home. 2238 faces Alaska Street with large rooms, while the Garage entrance faces Georgia Avenue Compared to the other homes in the area, you will see that this is a smoking hot deal! The Home across the street is selling for $365,000. This Beautiful corner lot also features those Magnificent Savannah Live Oak trees. No HOA, so bring all of your toys. Home is being sold in an "As Is Condition. "

Key facts

• No hoa
• Corner lot
• 0.24 acre lot

Tags

• CONVERTING THE GARAGE
• CORNER LOT
• SAVANNAH LIVE OAK TREES
• NO HOA

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story home; Property is attached with no common walls
• Construction: Block and Masonite construction
• Exterior features: Front porch; Corner lot; City lot; Publicly maintained road; Has a view

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Other heating features
• Interior features: Gas water heater
• Laundry & utility: Laundry area located in the bathroom

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.0% 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 rising (+3.6%/yr); 227 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 42% of the median local income ($53k/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 $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 + 3.6% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $149,900

Questions for the listing agent

1. Built in 1952 — 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: 1.26% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.15%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $240,002
• List price: $149,900
• Delta: -37.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2238 Alaska St	0.00mi	2/1.0 (-1)	1,185 (0%)	1mo	$145,000	$122	94
2201 Alaska St	0.11mi	3/1.5	1,200 (+1%)	2mo	$142,000	$118	89
2232 E Gwinnett St	0.11mi	3/2.0	1,212 (+2%)	2mo	$262,000	$216	85
2130 Hanson St	0.20mi	3/1.0	1,140 (-4%)	1mo	$253,000	$222	84
2320 Alabama Ave	0.27mi	3/2.0	1,184 (-0%)	4mo	$272,500	$230	80
2106 Auburn St	0.39mi	3/1.0	1,216 (+3%)	4mo	$155,000	$127	74
2110 Louisiana Ave	0.22mi	4/2.0 (+1)	1,316 (+11%)	3mo	$319,900	$243	60
2148 Tennessee Ave	0.38mi	4/2.0 (+1)	1,307 (+10%)	1mo	$299,400	$229	55
2208 Utah St	0.73mi	3/1.0	1,073 (-10%)	1mo	$119,000	$111	50
616 Virginia Ave	0.61mi	3/1.5	1,331 (+12%)	1mo	$365,000	$274	48
2120 Vermont Ave	0.50mi	4/2.0 (+1)	1,324 (+12%)	3mo	$315,000	$238	46
1804 E Henry St	0.67mi	2/2.0 (-1)	1,309 (+10%)	4mo	$390,000	$298	39

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 · 3.62% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $6,216
• Equity at exit: $22,351

10-year hold

• IRR: 13.9%
• Equity multiple: 2.15×
• Total profit: $48,154
• Equity at exit: $12,961

Cash invested: $41,972 (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 31404

• Rents YoY: 3.6%
• Active inventory: 227
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$786
• Tax from tax record: −$181 /mo · $2,168/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $460

Break-even live

Break-even rent $1,303

Max offer price $149,900

Occupancy floor 71%

Sensitivity live

Price	-10% $545	-5% $502	+0% $460	+5% $418	+10% $375
Rent	-10% $311	-5% $386	+0% $460	+5% $534	+10% $609
Rate	-1.0pp $536	-0.5pp $498	base $460	+0.5pp $421	+1.0pp $382

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 Mississippi Ave Savannah, GA	2.0	1.0	1005	$1,595	$1.59	45d	1	0.13mi
2137 Bolling St Savannah, GA	3.0	1.0	1204	$1,575	$1.31	24d	1	0.16mi
1110 New Jersey Ave Savannah, GA	2.0	1.0	714	$1,500	$2.10	45d	1	0.21mi
2503 Mississippi Ave Savannah, GA	3.0	1.5	1373	$1,800	$1.31	45d	1	0.23mi
2141 New York Ave Unit A Savannah, GA	2.0	1.0	765	$1,750	$2.29	45d	1	0.30mi
2102 Auburn St Savannah, GA	3.0	1.0	828	$1,795	$2.17	45d	1	0.40mi
37 Altman Cir Savannah, GA	2.0	2.0	879	$1,750	$1.99	45d	1	0.46mi
2149 Vermont Ave Savannah, GA	3.0	2.0	1213	$1,955	$1.61	45d	1	0.51mi
2010 Vermont Ave Savannah, GA	2.0	1.0	892	$1,690	$1.89	45d	1	0.58mi
2800 Capital St Savannah, GA	1.0–3.0	1.0	980	$1,650	$1.68	45d	1	0.66mi
2201 E 37th St Savannah, GA	3.0	1.5	1424	$1,800	$1.26	24d	1	0.68mi
1810 E 32nd St Savannah, GA	3.0	1.5	1218	$3,000	$2.46	24d	1	0.73mi
101 Forrest Ave Savannah, GA	3.0	1.0	1367	$1,895	$1.39	45d	1	0.79mi
375 Laurel Oak Ln Thunderbolt, GA	3.0	2.5	1200	$1,800	$1.50	45d	1	0.81mi
1612 Skidaway Rd Savannah, GA	2.0	1.0	1453	$1,800	$1.24	45d	1	0.83mi
1704 E 31st St Savannah, GA	3.0	2.0	1137	$2,350	$2.07	45d	1	0.86mi
1655 McKinnon Dr Savannah, GA	4.0	2.0	1292	$1,795	$1.39	24d	1	0.86mi
2328 E 41st St Savannah, GA	2.0	1.0	1072	$1,700	$1.59	45d	1	0.87mi
2217 Beech St Savannah, GA	2.0	1.0	959	$1,850	$1.93	24d	1	0.91mi
2211 Beech St Savannah, GA	2.0	1.0	800	$1,595	$1.99	45d	1	0.91mi
2033 E 41st St Savannah, GA	4.0	2.0	1448	$2,800	$1.93	45d	1	0.93mi
2220 E Victory Dr #24 Savannah, GA	2.0	1.5	1102	$1,700	$1.54	24d	1	1.01mi
1518 E Park Ave Savannah, GA	2.0–3.0	1.0–2.5	1261	$1,703	$1.35	15d	6	1.03mi
2010 E President St Savannah, GA	2.0	1.0–2.0	944	$1,950	$2.07	15d	27	1.06mi
2323 Downing Ave Savannah, GA	2.0–3.0	1.5–2.0	1014	$1,899	$1.87	15d	14	1.07mi
1800 E 38th St Savannah, GA	2.0	1.0	846	$1,338	$1.58	45d	1	1.09mi
1502 E 31st St Savannah, GA	3.0	2.0	1212	$1,700	$1.40	15d	1	1.11mi
114 Oleander Ave Unit Na Savannah, GA	3.0	1.0	1128	$2,100	$1.86	45d	1	1.11mi
16 Helmken St Savannah, GA	3.0	1.0	924	$1,850	$2.00	15d	1	1.17mi
1403 E Anderson St Savannah, GA	3.0	2.0	1300	$2,400	$1.85	45d	1	1.19mi
1513 E 37th St Savannah, GA	3.0	1.0	1268	$1,775	$1.40	45d	1	1.22mi
1401 E 33rd St Savannah, GA	3.0	1.0	960	$1,650	$1.72	45d	1	1.23mi
1315 E Anderson St Unit 1315 Savannah, GA	2.0	2.0	859	$1,500	$1.75	45d	1	1.26mi
2112 Clars Ave Unit A Savannah, GA	2.0	1.0	1500	$1,700	$1.13	45d	1	1.26mi
1305 E 32nd St Savannah, GA	2.0	1.0	832	$2,400	$2.88	15d	1	1.31mi
1226 E Henry St Unit B Savannah, GA	2.0	1.0	882	$1,300	$1.47	45d	1	1.33mi
2840 Wicklow St Savannah, GA	1.0–3.0	1.0–2.0	1071	$2,869	$2.68	15d	50	1.37mi
2611 Dogwood Ave Savannah, GA	2.0	1.0	822	$1,700	$2.07	24d	1	1.38mi
1203 E Bolton St Savannah, GA	2.0	2.5	1200	$2,000	$1.67	24d	1	1.38mi
1436 E 42nd St Savannah, GA	3.0	2.0	1447	$2,290	$1.58	15d	1	1.39mi

Listing history 2 events

1. 2026-05-16
   historical Active Under Contract 517-char remark
2. 2026-05-14
   listed $149,900 Active 517-char remark

ⓘ 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: $2,168 · $181/mo
• Projected year-2 tax: $2,168 · $181/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 ≥107°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: $22,621
• − Mortgage interest: −$8,397
• − Property taxes: −$2,168
• − Insurance: −$750
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − Depreciation: −$4,361
• Taxable income: $3,327
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $4,722/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): 30,062
• Household income: $53,303
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 1649.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 33% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -187.86%
• Current HPI: 310.0764
• Rent YoY: ▲ 3.62%
• 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

-3.3% since first listed

4 events — show timeline

• 2026-05-28 Sold (MLS) $145,000 Hive MLS
• 2026-05-21 Pending — Hive MLS
• 2026-05-16 Contingent — Hive MLS
• 2026-05-14 Listed $149,900 Hive MLS

Property tax history

+25.1%/yr

Latest (2025): $2,168 · -26.4% YoY. Source: county tax records.