299 Kingswood Cir

Savannah, GA 31302

$319,900D-

4 bd · 2.0 ba · 1,762 sqft · Built 2026 · SingleFamily · Pending · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,687/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$533
• HOA: −$100
• Vac / Maint / Mgmt: −$564
• Net cashflow: $-188/mo
• Annual: $-2,252/yr
• Cap rate: 5.59%
• Cash-on-cash: -2.51%
• DSCR: 0.89
• 1% rule: 0.84%
• Cash to close: $89,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $320k.
• At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (16.0% below list).
• It's been on market 90 days — a 6% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $269k (16.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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 falling (-5.5%/yr); 262 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 91% 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).
• Chatham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% 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.
• At $2,687/mo this rent would consume 47% of the median local household income ($69k/yr) (locally 188% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.