1338 Augusta Ave · Savannah, GA 31415

$35,000

2 bd · 1.0 ba · 520 sqft · SingleFamily public records · 16 Days on market

Built 1910 2,614 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

This is your next deal! This Gem at 1338 Augusta Ave is priced to sell and ready for a complete renovation! Bring your contractor and your vision. Perfectly positioned just minutes from the Georgia Ports Authority and the heart of Downtown Savannah, this property offers endless possibilities. Whether you're looking to flip for maximum profit, or gut-renovate into something spectacular, this is the investment opportunity you've been waiting for. Properties at this price point in this location don't sit long, so schedule your showing today before it's gone!

Key facts

• 2,614 sq ft lot
• Built 1910
• Listed 16 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; 1 story
• Construction: Wood siding exterior; Raised and slab foundation
• Exterior features: Asphalt road access; Zoned R4 (single-family)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Has a view
• Laundry & utility: No laundry hookups listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 37.3% 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• At $1,471/mo this rent would consume 48% 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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. 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?
5. 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.
6. 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.
7. 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: 4.20% ✓
• Cap rate: 37.33%
• Cash-on-cash: 110.85%
• DSCR: 5.93
• GRM: 2.0

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: —
• Equity multiple: 6.31×
• Total profit: $52,018
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 13.21×
• Total profit: $119,667
• Equity at exit: $3,026

Cash invested: $9,800 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$184
• Tax from tax record: −$58 /mo · $702/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $905

Break-even live

Break-even rent $325

Max offer price $35,000

Occupancy floor 33%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 Comer St Savannah, GA	2.0	1.0	690	$1,200	$1.74	44d	1	0.14mi
40 Eagle St Savannah, GA	1.0–2.0	1.0	841	$1,331	$1.58	23d	6	0.19mi
1415 Richards St Savannah, GA	2.0	1.0	672	$1,200	$1.79	44d	1	0.21mi
1419 Richards St Savannah, GA	2.0	1.0	672	$1,200	$1.79	44d	1	0.22mi
1421 Richards St Savannah, GA	2.0	1.0	672	$1,275	$1.90	44d	1	0.22mi
1423 Richards St Savannah, GA	2.0	1.0	672	$1,275	$1.90	44d	1	0.22mi
2100 Patch St Savannah, GA	2.0	1.0	672	$1,525	$2.27	44d	1	0.56mi
601 Indian St Savannah, GA	2.0	1.0–2.0	816	$3,521	$4.31	14d	19	1.09mi
630 Indian St Savannah, GA	2.0	1.0–2.0	824	$3,125	$3.79	14d	17	1.11mi
540 Selma St Savannah, GA	2.0–5.0	2.0–5.0	790	$949	$1.20	23d	1	1.12mi
416 W Wayne St Savannah, GA	1.0	1.0	650	$1,500	$2.31	14d	1	1.26mi
615 Montgomery St Savannah, GA	1.0–2.0	1.0–2.0	902	$3,164	$3.51	14d	18	1.31mi
217 W Taylor St Savannah, GA	2.0	1.0	675	$2,900	$4.30	23d	1	1.35mi
205 W Jones Ln Savannah, GA	1.0	1.0	500	$1,900	$3.80	44d	1	1.40mi

Listing history 13 events

1. 2026-06-18
   days on market $35,000 Active 16 DOM
2. 2026-06-17
   days on market $35,000 Active 15 DOM
3. 2026-06-16
   days on market $35,000 Active 14 DOM
4. 2026-06-15
   days on market $35,000 Active 13 DOM
5. 2026-06-14
   days on market $35,000 Active 11 DOM
6. 2026-06-13
   days on market $35,000 Active 10 DOM
7. 2026-06-10
   days on market $35,000 Active 8 DOM
8. 2026-06-09
   days on market $35,000 Active 7 DOM
9. 2026-06-08
   days on market $35,000 Active 6 DOM
10. 2026-06-07
    days on market $35,000 Active 5 DOM
11. 2026-06-05
    days on market $35,000 Active 2 DOM
12. 2026-06-03
    remarks 561-char remark
13. 2026-06-03
    listed $35,000 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: $702 · $58/mo
• Projected year-2 tax: $702 · $58/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 ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $17,649
• − Mortgage interest: −$1,961
• − Property taxes: −$702
• − Insurance: −$175
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$1,018
• Taxable income: $10,970
• Est. tax owed @ 24.0%: −$2,633
• After-tax cash flow: $8,231/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

1 event — show timeline

• 2026-06-02 Listed $35,000 Hive MLS

Property tax history

+10.5%/yr

Latest (2025): $702 · +106.4% YoY. Source: county tax records.