114 Adair St · Savannah, GA 31404

$220,000

3 bd · 3.0 ba · 1,502 sqft · SingleFamily public records · 48 Days on market

Built 1940 3,615 sqft lot $146/sqft · 22% below area Est $280k · 22% under

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Why this score? — see what drove the C 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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.0/10.0
• 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 MLS

Amazing deal on this bungalow located just minutes from downtown savannah, schools, shopping, restaurants, hospitals and Truman parkway. This home features 3 bedrooms, 3 baths, spacious owner's suite with a owner's bath, large living room with a fireplace and built-in book shelves, a separate dining room, a nice kitchen with lots of cabinet space, nice wood floors throughout living room and dining room, ceramic tile in kitchen and baths. This home sits at the end of a quiet short street. Hurry! This deal won't last!

Key facts

• Kitchen and baths
• Recently refreshed
• Single family home

Tags

• SINGLE FAMILY HOME
• RECENTLY REFRESHED
• HISTORIC DETAILS
• MODERN AMENITIES
• NEW FLOORING
• KITCHEN AND BATHS

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story; Raised foundation
• Construction: Frame construction with wood siding
• Exterior features: Front porch, porch and patio; Corner lot; Has a view; Asphalt road frontage

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: Decorative living room fireplace; Gas water heater
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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); 226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• At $2,206/mo this rent would consume 50% of the median local household income ($53k/yr) (locally 1649% 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 $2k of loan paydown is wiped out by about $7k 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 48 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $90k; list at $220k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $213,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.00% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.16%
• DSCR: 1.23
• GRM: 8.3

CMA / ARV

• ARV (median comp): $280,449
• List price: $220,000
• Delta: -21.55%
• 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
1226 E Bolton St	0.21mi	3/2.5	1,500 (-0%)	7mo	$347,000	$231	83
726 Waters Ave	0.31mi	3/1.5	1,416 (-6%)	6mo	$205,000	$145	64
1902 Foster St	0.69mi	3/2.0	1,484 (-1%)	2mo	$349,900	$236	60
1317 E 32nd St	0.61mi	3/2.0	1,438 (-4%)	1mo	$353,000	$245	60
1111 E 31st St	0.62mi	3/2.0	1,580 (+5%)	1mo	$423,000	$268	58
1210 E Waldburg St	0.27mi	3/2.0	1,277 (-15%)	2mo	$285,000	$223	56
823 E Park Ave	0.56mi	3/2.5	1,384 (-8%)	3mo	$425,000	$307	56
809 E Bolton St	0.54mi	3/2.0	1,350 (-10%)	1mo	$440,000	$326	53
501 Atkinson Ave	0.71mi	3/2.0	1,458 (-3%)	7mo	$360,000	$247	52
1107 Skidaway Rd	0.53mi	2/1.0 (-1)	1,316 (-12%)	6mo	$339,586	$258	37
1804 E Henry St	0.68mi	2/2.0 (-1)	1,309 (-13%)	4mo	$390,000	$298	35
1217 E 34th St	0.71mi	4/2.0 (+1)	1,677 (+12%)	5mo	$156,000	$93	35

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-17,382
• Equity at exit: $32,803

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $12,377
• Equity at exit: $19,022

Cash invested: $61,600 (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: 226
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,206 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$232 /mo · $2,789/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $265

Break-even live

Break-even rent $1,871

Max offer price $220,000

Occupancy floor 83%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 E Bolton St Savannah, GA	2.0	2.5	1200	$2,000	$1.67	23d	1	0.31mi
1112 E Bolton St Savannah, GA	3.0	1.0	1112	$1,975	$1.78	23d	1	0.36mi
1518 E Park Ave Savannah, GA	2.0–3.0	1.0–2.5	1261	$1,703	$1.35	14d	6	0.37mi
27 Stirling St Savannah, GA	2.0	1.0	2000	$2,500	$1.25	43d	1	0.37mi
1612 Skidaway Rd Savannah, GA	2.0	1.0	1453	$1,800	$1.24	43d	1	0.42mi
1655 McKinnon Dr Savannah, GA	4.0	2.0	1292	$1,795	$1.39	23d	1	0.44mi
921 E Waldburg St Apt B Savannah, GA	2.0	2.0	1300	$2,400	$1.85	14d	1	0.50mi
1403 E Anderson St Savannah, GA	3.0	2.0	1300	$2,400	$1.85	44d	1	0.54mi
430 Lawton Ave Savannah, GA	4.0	2.5	2000	$3,400	$1.70	43d	1	0.55mi
900 E Park Ave Savannah, GA	3.0	2.0	1450	$1,975	$1.36	43d	1	0.56mi
1114 E Anderson St Unit A Savannah, GA	2.0	2.0	1374	$1,800	$1.31	43d	1	0.57mi
1112 E Anderson St Savannah, GA	4.0	2.0	1488	$2,300	$1.55	43d	1	0.57mi
1611 E Henry St Unit A Savannah, GA	3.0	2.0	2226	$1,850	$0.83	44d	1	0.57mi
1502 E 31st St Savannah, GA	3.0	2.0	1212	$1,700	$1.40	14d	1	0.58mi
1150 E Perry Ln Savannah, GA	2.0	1.0–2.0	922	$2,620	$2.84	14d	16	0.59mi
810 E Park Ave Unit B Savannah, GA	3.0	2.0	1100	$2,700	$2.45	43d	1	0.61mi
1014 E Anderson St Savannah, GA	2.0	1.0	1642	$2,200	$1.34	43d	1	0.62mi
1110 E 31st St Unit B Savannah, GA	2.0	1.0	1200	$1,625	$1.35	43d	1	0.63mi
826 E Duffy St Unit A Savannah, GA	3.0	2.0	1445	$1,850	$1.28	43d	1	0.64mi
836 E Henry St Unit C Savannah, GA	3.0	1.0	1800	$2,000	$1.11	43d	1	0.65mi
742 E Park Ave Savannah, GA	3.0	2.0	2209	$2,000	$0.91	43d	1	0.68mi
823 E Henry St Unit B Savannah, GA	4.0	1.5	1670	$2,000	$1.20	43d	1	0.69mi
1704 E 31st St Savannah, GA	3.0	2.0	1137	$2,350	$2.07	43d	1	0.69mi
836 E Anderson St Unit A Savannah, GA	2.0	1.5	1215	$1,950	$1.60	14d	1	0.70mi
1810 E 32nd St Savannah, GA	3.0	1.5	1218	$3,000	$2.46	23d	1	0.74mi
1509 Ott St Savannah, GA	3.0	1.5	1263	$1,900	$1.50	43d	1	0.74mi
101 Forrest Ave Savannah, GA	3.0	1.0	1367	$1,895	$1.39	43d	1	0.74mi
404 Gordonston Ave Savannah, GA	3.0	2.0	2028	$2,800	$1.38	14d	1	0.76mi
723 E Henry St Unit A Savannah, GA	3.0	2.0	1199	$2,150	$1.79	23d	1	0.79mi
1118 NE 36th St Savannah, GA	3.0	2.0	1200	$2,000	$1.67	43d	1	0.84mi
614 E Gwinnett St Unit 616 Savannah, GA	2.0	2.0	1116	$2,790	$2.50	43d	1	0.85mi
916 E 35th St Savannah, GA	4.0	2.0	1630	$2,700	$1.66	23d	1	0.87mi
643 E Henry St Unit B Savannah, GA	3.0	1.5	1207	$1,899	$1.57	23d	1	0.89mi
401 Upper East Ave Unit 1369215P Savannah, GA	3.0	3.5	1894	$4,490	$2.37	14d	1	0.90mi
437 Port St Savannah, GA	2.0	2.5	2134	$4,200	$1.97	21d	1	0.90mi
1131 SE 36th St Unit A Savannah, GA	2.0	1.0	1200	$1,675	$1.40	14d	1	0.90mi
503 Blair St Savannah, GA	2.0	2.5	1224	$2,400	$1.96	43d	1	0.92mi
1202 E 37th St Unit A Savannah, GA	4.0	2.0	1480	$2,295	$1.55	14d	1	0.92mi
542 E Bolton St Savannah, GA	2.0	1.0	1060	$1,700	$1.60	14d	1	0.92mi
201 Pilot St Savannah, GA	2.0	1.0–2.0	878	$4,156	$4.73	14d	77	0.93mi

Listing history 32 events

1. 2026-06-18
   days on market $220,000 Active 48 DOM
2. 2026-06-17
   days on market $220,000 Active 47 DOM
3. 2026-06-16
   days on market $220,000 Active 46 DOM
4. 2026-06-15
   days on market $220,000 Active 45 DOM
5. 2026-06-14
   days on market $220,000 Active 43 DOM
6. 2026-06-13
   days on market $220,000 Active 42 DOM
7. 2026-06-10
   days on market $220,000 Active 40 DOM
8. 2026-06-09
   days on market $220,000 Active 39 DOM
9. 2026-06-08
   days on market $220,000 Active 38 DOM
10. 2026-06-07
    days on market $220,000 Active 37 DOM
11. 2026-06-05
    days on market $220,000 Active 34 DOM
12. 2026-06-03
    days on market $220,000 Active 33 DOM
13. 2026-06-02
    days on market $220,000 Active 32 DOM
14. 2026-06-01
    days on market $220,000 Active 31 DOM
15. 2026-05-31
    days on market $220,000 Active 30 DOM
16. 2026-05-30
    days on market $220,000 Active 29 DOM
17. 2026-05-01
    listed $220,000 Active 502-char remark
18. 2026-03-30
    historical
19. 2026-02-18
    listed $265,000 Active
20. 2019-02-06
    soldstatus $89,900
21. 2019-02-01
    soldstatus $89,900

    Show marketing remark (521 chars)

    Amazing deal on this bungalow located just minutes from downtown savannah, schools, shopping, restaurants, hospitals and Truman parkway. This home features 3 bedrooms, 3 baths, spacious owner's suite with a owner's bath, large living room with a fireplace and built-in book shelves, a separate dining room, a nice kitchen with lots of cabinet space, nice wood floors throughout living room and dining room, ceramic tile in kitchen and baths. This home sits at the end of a quiet short street. Hurry! This deal won't last!

22. 2019-01-31
    soldstatus $89,900
23. 2018-10-05
    listed $94,900

    Show marketing remark (521 chars)

    Amazing deal on this bungalow located just minutes from downtown savannah, schools, shopping, restaurants, hospitals and Truman parkway. This home features 3 bedrooms, 3 baths, spacious owner's suite with a owner's bath, large living room with a fireplace and built-in book shelves, a separate dining room, a nice kitchen with lots of cabinet space, nice wood floors throughout living room and dining room, ceramic tile in kitchen and baths. This home sits at the end of a quiet short street. Hurry! This deal won't last!

24. 2018-10-05
    listed $94,900

    Show marketing remark (521 chars)

    Amazing deal on this bungalow located just minutes from downtown savannah, schools, shopping, restaurants, hospitals and Truman parkway. This home features 3 bedrooms, 3 baths, spacious owner's suite with a owner's bath, large living room with a fireplace and built-in book shelves, a separate dining room, a nice kitchen with lots of cabinet space, nice wood floors throughout living room and dining room, ceramic tile in kitchen and baths. This home sits at the end of a quiet short street. Hurry! This deal won't last!

25. 2016-12-09
    soldstatus $85,000
26. 2016-11-10
    soldstatus $85,000
27. 2016-07-15
    listed $79,795
28. 2006-11-13
    soldstatus $129,000
29. 2006-10-30
    soldstatus $129,000
30. 2006-06-28
    listed $129,900
31. 2005-02-01
    soldstatus $66,000
32. 2001-01-10
    soldstatus $18,000

ⓘ 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: $2,789 · $232/mo
• Projected year-2 tax: $2,789 · $232/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 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: $26,472
• − Mortgage interest: −$12,323
• − Property taxes: −$2,789
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − Depreciation: −$6,400
• Taxable loss: −$376
• Est. tax savings @ 24.0%: +$90
• After-tax cash flow: $3,270/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

+1122.2% since first listed

16 events — show timeline

• 2026-05-01 Listed $220,000 Hive MLS
• 2026-03-30 Listing Removed — Hive MLS
• 2026-02-18 Listed $265,000 Hive MLS
• 2019-02-06 Sold (Public Records) $89,900 Public Records
• 2019-02-01 Sold (MLS) $89,900 GAMLS
• 2019-01-31 Sold (MLS) $89,900 Hive MLS
• 2018-10-05 Listed $94,900 Hive MLS
• 2018-10-05 Listed $94,900 GAMLS
• 2016-12-09 Sold (MLS) $85,000 Hive MLS
• 2016-11-10 Sold (Public Records) $85,000 Public Records
• 2016-07-15 Listed $79,795 Hive MLS
• 2006-11-13 Sold (Public Records) $129,000 Public Records
• 2006-10-30 Sold (MLS) $129,000 Hive MLS
• 2006-06-28 Listed $129,900 Hive MLS
• 2005-02-01 Sold (Public Records) $66,000 Public Records
• 2001-01-10 Sold (Public Records) $18,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $2,789 · +74.8% YoY. Source: county tax records.