906 E 38th St · Savannah, GA 31401

$269,900

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 94 Days on market

Built 1930 5,227 sqft lot $231/sqft · 14% below area Est $316k · 14% under ↓ 10% since listing

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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).

• ARV discount +14.0/15.0
• Cash flow +7.6/30.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.0/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won’t last long—schedule your tour and make your offer today.

Key facts

• Covered front porch
• Fireplace feature
• Two spacious lots

Tags

• TWO SPACIOUS LOTS
• COVERED FRONT PORCH
• FIREPLACE FEATURE
• SEPARATE DINING ROOM
• DEN FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-322 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (27.6% below list).
• Recommended offer: $195k (27.6% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 4.0% in Savannah — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+3.0%/yr); 334 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); 62% 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 45% 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 $2k of loan paydown is wiped out by about $8k 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 94 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $29k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $195,377 (27.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.11%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

• ARV (median comp): $315,645
• List price: $269,900
• Delta: -14.49%
• 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
825 E 34th St	0.24mi	2/1.0	1,190 (+2%)	2mo	$180,000	$151	84
2403 Harmon St	0.12mi	1/1.0 (-1)	1,195 (+2%)	2mo	$530,000	$444	84
910 E 41st St	0.17mi	3/1.0 (+1)	1,260 (+8%)	3mo	$399,000	$317	71
643 E 32nd St	0.48mi	2/2.5	1,178 (+1%)	3mo	$384,000	$326	68
2015 Reynolds St	0.40mi	3/2.0 (+1)	1,125 (-4%)	2mo	$341,250	$303	64
1317 E 39th St	0.42mi	2/1.0	1,036 (-12%)	2mo	$207,000	$200	60
1126 E Waldburg St	0.74mi	2/1.0	1,119 (-4%)	1mo	$235,000	$210	58
412 E 41st St	0.61mi	2/1.0	1,076 (-8%)	1mo	$389,000	$362	57
1125 E 37th St	0.20mi	3/2.0 (+1)	1,326 (+13%)	4mo	$345,000	$260	56
1804 Cedar St	0.43mi	3/1.0 (+1)	1,051 (-10%)	3mo	$190,000	$181	56
518 E 51st St	0.71mi	2/1.0	1,044 (-11%)	3mo	$370,000	$354	46
327 E 49th St	0.72mi	3/1.0 (+1)	1,072 (-8%)	3mo	$279,900	$261	45

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.15×
• Total profit: $-64,296
• Equity at exit: $40,243

10-year hold

• IRR: -21.1%
• Equity multiple: -0.09×
• Total profit: $-82,657
• Equity at exit: $23,336

Cash invested: $75,572 (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 31401

• Rents YoY: 3.0%
• Active inventory: 334
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,954 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-322

Break-even live

Break-even rent $2,361

Max offer price $223,344

Occupancy floor —

Sensitivity live

Price	-10% $-135	-5% $-228	+0% $-322	+5% $-415	+10% $-508
Rent	-10% $-476	-5% $-399	+0% $-322	+5% $-245	+10% $-167
Rate	-1.0pp $-186	-0.5pp $-253	base $-322	+0.5pp $-392	+1.0pp $-463

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
904 E 39th St Savannah, GA	3.0	1.0	1200	$2,300	$1.92	44d	1	0.03mi
801 E 39th St Savannah, GA	2.0	1.0	1344	$1,700	$1.26	24d	1	0.12mi
1105 E 38th St Savannah, GA	3.0	2.0	1500	$2,400	$1.60	44d	1	0.14mi
1107 E 38th St Savannah, GA	3.0	2.0	1500	$2,400	$1.60	44d	1	0.14mi
1122 E 37th St Savannah, GA	3.0	2.0	1292	$1,895	$1.47	44d	1	0.20mi
825 E 35th St Savannah, GA	2.0	2.0	1302	$1,200	$0.92	15d	1	0.22mi
1131 SE 36th St Unit A Savannah, GA	2.0	1.0	1200	$1,675	$1.40	15d	1	0.24mi
1205 E 38th St Savannah, GA	2.0	1.0	1000	$1,595	$1.59	44d	1	0.25mi
1206 Seiler Ave Savannah, GA	3.0	1.0	1183	$2,050	$1.73	44d	1	0.25mi
1118 NE 36th St Savannah, GA	3.0	2.0	1200	$2,000	$1.67	44d	1	0.26mi
914 E 34th St Unit 916 Savannah, GA	3.0	1.0	935	$1,995	$2.13	24d	1	0.28mi
1217 E 38th St Savannah, GA	3.0	1.0	1227	$1,675	$1.37	24d	1	0.29mi
701 E 41st St Savannah, GA	1.0	1.0	850	$1,625	$1.91	44d	1	0.29mi
1224 E 38th St Savannah, GA	2.0	1.0	798	$1,550	$1.94	44d	1	0.30mi
736 E 45th St Unit 1 Savannah, GA	1.0	1.0	1000	$1,499	$1.50	15d	1	0.35mi
1220 E Victory Dr Savannah, GA	2.0	1.0	1000	$1,800	$1.80	44d	1	0.36mi
1509 Ott St Savannah, GA	3.0	1.5	1263	$1,900	$1.50	44d	1	0.38mi
1226 E Victory Dr Apt 4 Savannah, GA	2.0	1.0	950	$1,675	$1.76	44d	1	0.38mi
625 E 41st St Savannah, GA	2.0	1.0	1000	$2,500	$2.50	44d	1	0.41mi
1326 E 38th St Savannah, GA	2.0	1.0	800	$1,600	$2.00	15d	1	0.41mi
1317 E 38th St Savannah, GA	1.0	1.0	750	$2,000	$2.67	44d	1	0.41mi
1714 Le Grand St Unit B Savannah, GA	3.0	2.0	1300	$2,700	$2.08	44d	1	0.43mi
1709 Le Grand St Unit 1709 Savannah, GA	2.0	1.0	1080	$1,595	$1.48	44d	1	0.45mi
1110 E 31st St Unit B Savannah, GA	2.0	1.0	1200	$1,625	$1.35	44d	1	0.45mi
533 E 38th St Savannah, GA	1.0	1.5	745	$1,500	$2.01	44d	1	0.46mi
1615 Le Grand St Savannah, GA	2.0	2.0	1307	$2,400	$1.84	24d	1	0.48mi
537 Maupas Ave Unit 3 Savannah, GA	2.0	1.0	1200	$2,500	$2.08	44d	1	0.48mi
836 E Anderson St Unit A Savannah, GA	2.0	1.5	1215	$1,950	$1.60	15d	1	0.49mi
1305 E 32nd St Savannah, GA	2.0	1.0	832	$2,400	$2.88	15d	1	0.50mi
1606 Reynolds St Savannah, GA	3.0	2.0	1222	$1,800	$1.47	45d	1	0.51mi
1207 E Anderson St Unit B Savannah, GA	2.0	1.0	1000	$1,640	$1.64	24d	1	0.52mi
1114 E Anderson St Unit A Savannah, GA	2.0	2.0	1374	$1,800	$1.31	44d	1	0.52mi
530 E 35th St Unit B Savannah, GA	1.0	1.0	950	$1,695	$1.78	22d	1	0.52mi
1418 E 42nd St Unit 4 Savannah, GA	1.0	1.0	900	$1,250	$1.39	24d	1	0.52mi
1418 E 42nd St Unit 1 Savannah, GA	1.0	1.0	800	$1,100	$1.38	44d	1	0.52mi
1418 E 42nd St Unit 2 Savannah, GA	1.0	1.0	800	$1,100	$1.38	24d	1	0.52mi
602 E 34th St Savannah, GA	3.0	2.0	1185	$2,095	$1.77	44d	1	0.52mi
1401 E 33rd St Savannah, GA	3.0	1.0	960	$1,650	$1.72	44d	1	0.55mi
723 E Henry St Unit A Savannah, GA	3.0	2.0	1199	$2,150	$1.79	24d	1	0.55mi
1203 E Henry St Savannah, GA	2.0	1.0	916	$1,475	$1.61	44d	1	0.57mi

Listing history 23 events

1. 2026-06-21
   days on market $269,900 Active 94 DOM
2. 2026-06-18
   days on market $269,900 Active 91 DOM
3. 2026-06-17
   days on market $269,900 Active 90 DOM
4. 2026-06-16
   days on market $269,900 Active 89 DOM
5. 2026-06-15
   days on market $269,900 Active 88 DOM
6. 2026-06-14
   days on market $269,900 Active 86 DOM
7. 2026-06-13
   days on market $269,900 Active 85 DOM
8. 2026-06-10
   days on market $269,900 Active 83 DOM
9. 2026-06-09
   days on market $269,900 Active 82 DOM
10. 2026-06-08
    days on market $269,900 Active 81 DOM
11. 2026-06-07
    days on market $269,900 Active 80 DOM
12. 2026-06-05
    days on market $269,900 Active 77 DOM
13. 2026-06-03
    days on market $269,900 Active 76 DOM
14. 2026-06-02
    days on market $269,900 Active 75 DOM
15. 2026-06-01
    days on market $269,900 Active 74 DOM
16. 2026-05-31
    days on market $269,900 Active 73 DOM
17. 2026-05-30
    days on market $269,900 Active 72 DOM
18. 2026-04-27
    price $269,900 494-char remark

    Show marketing remark (482 chars)

    Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won't last long-schedule your tour and make your offer today.

19. 2026-04-27
    price $269,900 482-char remark

    Show marketing remark (482 chars)

    Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won't last long-schedule your tour and make your offer today.

20. 2026-04-03
    price $285,000 494-char remark

    Show marketing remark (482 chars)

    Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won't last long-schedule your tour and make your offer today.

21. 2026-04-03
    price $285,000 482-char remark

    Show marketing remark (482 chars)

    Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won't last long-schedule your tour and make your offer today.

22. 2026-03-19
    listed $299,000 New 482-char remark

    Show marketing remark (494 chars)

    Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won’t last long—schedule your tour and make your offer today.

23. 2026-03-19
    listed $299,000 Active 494-char remark

    Show marketing remark (494 chars)

    Welcome home to this charming bungalow on Savannah's Eastside. Sitting on two spacious 30x89 lots, it offers plenty of room for outdoor enjoyment or a potential addition. Unwind on the covered, shady front porch, or step inside to a warm foyer, a cozy living room with a fireplace feature, a separate dining room, and a den/family room at the back. With three bedrooms and two full baths, this home is priced to sell and won’t last long—schedule your tour and make your offer today.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $23,445
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$7,852
• Taxable loss: −$8,674
• Est. tax savings @ 24.0%: +$2,082
• After-tax cash flow: $-1,779/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): 20,445
• Household income: $52,509
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 2031.0

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 0.59)
• Race & ethnicity: White 53% Black 35% Hispanic / Latino 7% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Chinese 2% Other Indo-European 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: ▼ -358.74%
• Current HPI: 553.5645
• Rent YoY: ▲ 2.95%
• 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

-9.7% since first listed

6 events — show timeline

• 2026-04-27 Price Changed $269,900 Hive MLS
• 2026-04-27 Price Changed $269,900 GAMLS
• 2026-04-03 Price Changed $285,000 Hive MLS
• 2026-04-03 Price Changed $285,000 GAMLS
• 2026-03-19 Listed $299,000 Hive MLS
• 2026-03-19 Listed $299,000 GAMLS