119 Bull River Bluff Dr · Wilmington Island, GA 31410

$60,000

3 bd · 2.0 ba · 1,235 sqft · Condo public records · 1 Days on market

Built 1986 ↓ 23% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

https://www. zillow.com/homedetails/119-Bull-River-Bluff-Dr-Savannah-GA-31410/307935499_zpid/ Condo is well maintained. One owner since 2005. NOTE I AM SELLING MY ONE-HALF FRACTIONAL INTEREST IN THE PROPERTY. OWNED AS TENTANT IN COMMON WITH THE OTHER OWNER (NO ONE CURRENTLY LIVING FULL TIME IN THE SPACE). APPROXIMATELY $200-215K EQUITY IN PROPERTY.

Key facts

• Built 1986

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 31.6% vs local median 3.1% in Wilmington Island — 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 68/100 on livability (#145 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety 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 (+1.8%/yr); 188 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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 + 1.8% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: major flood risk; 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 $60,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.65% ✓
• Cap rate: 31.61%
• Cash-on-cash: 90.41%
• DSCR: 5.02
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.84% rent growth · sell at horizon

5-year hold

• IRR: 89.8%
• Equity multiple: 5.07×
• Total profit: $68,430
• Equity at exit: $8,946

10-year hold

• IRR: 92.5%
• Equity multiple: 10.14×
• Total profit: $153,517
• Equity at exit: $5,188

Cash invested: $16,800 (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 31410

• Rents YoY: 1.8%
• Active inventory: 188
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$315
• Tax from tax record: −$127 /mo · $1,519/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $1,266

Break-even live

Break-even rent $590

Max offer price $60,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,300	-5% $1,283	+0% $1,266	+5% $1,249	+10% $1,232
Rent	-10% $1,093	-5% $1,179	+0% $1,266	+5% $1,352	+10% $1,439
Rate	-1.0pp $1,296	-0.5pp $1,281	base $1,266	+0.5pp $1,250	+1.0pp $1,234

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 Bull River Bluff Dr Savannah, GA	3.0	2.0	1400	$2,100	$1.50	14d	1	0.06mi
11 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,200	$2.10	14d	1	0.16mi
12 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,100	$2.00	44d	1	0.16mi
9 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,175	$2.07	14d	1	0.16mi
10 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,050	$1.95	44d	1	0.16mi
7 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,175	$2.07	14d	1	0.17mi
8 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,050	$1.95	14d	1	0.17mi
5 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,175	$2.07	14d	1	0.17mi
6 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,050	$1.95	44d	1	0.17mi
3 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,175	$2.07	14d	1	0.18mi
4 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,050	$1.95	44d	1	0.18mi
1 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,200	$2.10	44d	1	0.18mi
2 Bull River Bluff Dr Savannah, GA	2.0	2.0	1050	$2,100	$2.00	44d	1	0.18mi
22 Barnacle Ct Savannah, GA	3.0	2.0	1457	$2,500	$1.72	44d	1	0.43mi
6914 Johnny Mercer Blvd Savannah, GA	3.0	2.0	1200	$2,500	$2.08	14d	1	0.92mi
450 Johnny Mercer Blvd Savannah, GA	2.0	3.0	1285	$2,240	$1.74	22d	1	1.39mi
450 Johnny Mercer Blvd Savannah, GA	3.0	2.0	1381	$2,337	$1.69	14d	1	1.39mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-05
   remarks 351-char remark
2. 2026-06-05
   listed $60,000 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: $1,519 · $127/mo
• Projected year-2 tax: $1,519 · $127/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 6/10 Major FEMA zone X (shaded) · 51% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,309
• − Mortgage interest: −$3,361
• − Property taxes: −$1,519
• − Insurance: −$300
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$1,745
• Taxable income: $15,174
• Est. tax owed @ 24.0%: −$3,642
• After-tax cash flow: $11,547/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 — Wilmington Island

• Score: 68/100
• State rank: #145
• US rank: #9713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington Island, GA
• County: Chatham County · 271,602 people
• City population: 22,867
• Metro: Savannah, GA
• Population (ZIP): 22,214
• Household income: $97,807
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 437.0

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 White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 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: ▼ -336.14%
• Current HPI: 319.8615
• Rent YoY: ▲ 1.84%
• 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

-23.1% since first listed

3 events — show timeline

• 2026-06-04 Listed $60,000 ForSaleByOwner.com
• 2003-06-20 Sold (Public Records) $120,000 Public Records
• 1995-06-23 Sold (Public Records) $78,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,519 · +2.8% YoY. Source: county tax records.