816 - 818 Drayton St · Savannah, GA 31401

$4,225,000

308 bd · 196.0 ba · — sqft · MultiFamily · 210 Days on market

Built 1896 6,054 sqft lot

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 14 units. estimate disagrees with records

Listing remarks

Discover a prime investment opportunity at 816-818 Drayton St, Savannah, GA. This 14-unit historic apartment building, located on Forsyth Park, offers a blend of timeless charm and modern updates. The building includes 14 units, many with porches that provide stunning views of Forsyth Park. Each unit features hardwood floors, modern kitchens with updated appliances, and thoughtful renovations that enhance its historic appeal. Just minutes from SCAD, downtown shopping, dining, and major hospitals, the property is ideally situated for maximum rental appeal. With 100% occupancy and room for rental growth, its poised for significant income potential, making it an exceptional opportunity for inv

Key facts

• Updated appliances
• Modern kitchens
• Hardwood floors

Tags

• VIEWS OF FORSYTH PARK
• HARDWOOD FLOORS
• MODERN KITCHENS
• UPDATED APPLIANCES
• THOUGHTFUL RENOVATIONS
• SIGNIFICANT INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 14 × 22-bed/14.0-bath units multifamily listed at $4.22M.

Deal economics

• At list price, monthly cash flow is $12k ($139k/yr) — positive. Per door: $825/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($52k rent vs $4.22M).
• Recommended offer: $3.72M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• 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.
• Zoned schools: Hubert Middle School (math 8% / reading 12%, grade F, #433 of 470 statewide, top 93%, 460 students, 95% FRL); Savannah Arts Academy (math 44% / reading 77%, grade C+, #12 of 424 statewide, top 3%, 905 students, 17% FRL) — zoned schools at 56% FRL track the district average.
• Zoned-school proficiency averages 35% at this address vs 23% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Savannah-Chatham County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.0%/yr); 333 active listings in the ZIP; 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 $29k of loan paydown is wiped out by about $127k 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 $1.18M cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($3.72M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $500k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1896 — 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 $3,718,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.22% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.71%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.95% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $48,838
• Equity at exit: $629,961

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $981,855
• Equity at exit: $365,301

Cash invested: $1,183,000 (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: 333
• Price-to-rent: 95.6×

Monthly cashflow live

• Estimated rent: $51,573 medium
• Mortgage (P&I): −$22,156
• Tax est. 1.5%: −$5,281 /mo · $63,375/yr
• Insurance: −$1,760
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,830
• Net cashflow: $11,545

Break-even live

Break-even rent $36,960

Max offer price $4,225,000

Occupancy floor 73%

Sensitivity live

Price	-10% $14,464	-5% $13,005	+0% $11,545	+5% $10,085	+10% $8,625
Rent	-10% $7,470	-5% $9,508	+0% $11,545	+5% $13,582	+10% $15,619
Rate	-1.0pp $13,672	-0.5pp $12,619	base $11,545	+0.5pp $10,450	+1.0pp $9,336

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	22	14	$51,576
Total (14 units)			$51,573

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: $1,056,250
• Closing costs: $126,750
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-06
   status Under Contract
2. 2025-10-07
   price $4,225,000
3. 2025-08-08
   listed $4,725,000 New
4. 2011-09-09
   historical
5. 2011-01-27
   listed $590,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 18 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: $618,876
• − Mortgage interest: −$236,666
• − Property taxes: −$63,375
• − Insurance: −$21,125
• − Repairs & maintenance: −$49,510
• − Management: −$49,510
• − Depreciation: −$122,909
• Taxable income: $75,781
• Est. tax owed @ 24.0%: −$18,187
• After-tax cash flow: $120,348/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

+616.1% since first listed

5 events — show timeline

• 2026-03-06 Pending — GAMLS
• 2025-10-07 Price Changed $4,225,000 GAMLS
• 2025-08-08 Listed $4,725,000 GAMLS
• 2011-09-09 Listing Removed — Hive MLS
• 2011-01-27 Listed $590,000 Hive MLS