246 Green Meadow Dr

Savannah, GA 31302

$324,990F

3 bd · 2.0 ba · 1,504 sqft · Built 2026 · SingleFamily · Active · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,642/mo
• Mortgage (P&I): −$1,797
• Tax + insurance: −$571
• HOA: −$50
• Vac / Maint / Mgmt: −$555
• Net cashflow: $-331/mo
• Annual: $-3,970/yr
• Cap rate: 5.13%
• Cash-on-cash: -4.14%
• DSCR: 0.82
• 1% rule: 0.77%
• Cash to close: $95,946

Investor read

• This is a 3-bed/2.0-bath single-family listed at $325k. Condition is rated excellent.
• At list price, monthly cash flow is $-331 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (18.7% below list).
• It's been on market 96 days — a 9% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $264k (18.7% 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); 400 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: severe wind risk, 96% 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 5.1% vs local median 4.1% in Savannah — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,642/mo this rent would consume 46% of the median local household income ($69k/yr) — 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 96 days. Have you received any prior offers? Is the seller open to a 19% 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.