604 E 33rd St · Savannah, GA 31401

$175,000

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 40 Days on market

Built 1900 3,001 sqft lot $189/sqft · 41% below area Est $296k · 41% under ↓ 3% 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• 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

Listing remarks

Investor special with tons of potential! This 2-bedroom, 1-bath home is being sold As-Is and is ready for your vision and updates. Great opportunity for investors, flippers, or buyers looking for a renovation project. Features a functional layout and plenty of possibilities to restore and customize to your liking. Conveniently located downtown Savannah with easy access to shopping, dining, and major roadways. Bring your creativity and make this property shine!

Key facts

• Downtown savannah
• Functional layout
• 3,001 sq ft lot

Tags

• FUNCTIONAL LAYOUT
• DOWNTOWN SAVANNAH
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Wood siding construction
• Exterior features: Asphalt road frontage; Has view; R1 zoning

Interior

• Bathrooms: 1 full bathroom
• Interior features: Electric water heater
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+3.0%/yr); 332 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $1,990/mo this rent would consume 45% of the median local household income ($53k/yr) (locally 2031% 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 $1k of loan paydown is wiped out by about $5k 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 40 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $33k; list at $175k implies a 430% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1900 — 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: 1.14% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.06%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $296,303
• List price: $175,000
• Delta: -40.94%
• 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
1709 Grove St	0.23mi	2/1.0	972 (+5%)	5mo	$268,000	$276	77
712 E Anderson St	0.25mi	2/1.0	888 (-4%)	11mo	$155,000	$175	72
601 E 31st St	0.08mi	3/1.5 (+1)	1,040 (+12%)	4mo	$265,000	$255	66
1017 E 37th St	0.58mi	2/1.0	879 (-5%)	2mo	$123,000	$140	62
1016 Seiler Ave	0.59mi	2/1.5	928 (0%)	10mo	$377,560	$407	62
539 E Gwinnett St	0.48mi	3/1.0 (+1)	968 (+4%)	8mo	$487,000	$503	59
1106 E Broad St	0.30mi	3/2.0 (+1)	839 (-10%)	3mo	$399,000	$476	58
1515 Vine St	0.28mi	3/1.0 (+1)	1,060 (+14%)	6mo	$265,000	$250	53
913 E 39th St	0.58mi	3/1.0 (+1)	1,030 (+11%)	9mo	$181,000	$176	42
1124 SE 36th St	0.65mi	2/2.0	1,008 (+9%)	12mo	$379,900	$377	41
1133 E 32nd St	0.65mi	2/2.0	1,036 (+12%)	8mo	$319,900	$309	40
1136 E 39th St	0.74mi	2/2.0	1,062 (+14%)	10mo	$335,000	$315	29

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,861
• Equity at exit: $26,093

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $25,812
• Equity at exit: $15,131

Cash invested: $49,000 (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: 332
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,990 high
• Mortgage (P&I): −$918
• Tax from tax record: −$211 /mo · $2,536/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $370

Break-even live

Break-even rent $1,521

Max offer price $175,000

Occupancy floor 76%

Sensitivity live

Price	-10% $469	-5% $420	+0% $370	+5% $321	+10% $271
Rent	-10% $213	-5% $291	+0% $370	+5% $449	+10% $527
Rate	-1.0pp $458	-0.5pp $415	base $370	+0.5pp $325	+1.0pp $279

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1709 Le Grand St Unit 1709 Savannah, GA	2.0	1.0	1080	$1,595	$1.48	45d	1	0.11mi
512 E 33rd St Unit 1244808P Savannah, GA	2.0	2.0	990	$3,196	$3.23	15d	1	0.12mi
637 E Anderson St Unit B Savannah, GA	2.0	1.0	850	$1,700	$2.00	45d	1	0.12mi
637 E Anderson St Unit A Savannah, GA	2.0	1.0	850	$1,850	$2.18	45d	1	0.12mi
637 E Anderson St Unit D Savannah, GA	2.0	1.0	850	$1,450	$1.71	45d	1	0.12mi
637 E Anderson St Savannah, GA	1.0	1.0	705	$1,575	$2.23	15d	1	0.12mi
530 E 35th St Unit B Savannah, GA	1.0	1.0	950	$1,695	$1.78	22d	1	0.14mi
704 E 32nd St Unit B Savannah, GA	1.0	1.0	550	$1,550	$2.82	25d	1	0.18mi
421 E Anderson St Savannah, GA	1.0	1.0	1000	$1,600	$1.60	45d	1	0.18mi
613 E Duffy Ln Unit A Savannah, GA	2.0	2.0	1066	$1,950	$1.83	15d	1	0.19mi
1716 Habersham St Apt 6 Savannah, GA	2.0	1.5	1100	$2,200	$2.00	22d	1	0.21mi
1212 Price St Unit A Savannah, GA	2.0	1.0	900	$2,600	$2.89	45d	1	0.23mi
614 E Duffy St Savannah, GA	2.0	2.0	817	$1,800	$2.20	15d	1	0.23mi
616 E Duffy St Savannah, GA	2.0	2.0	860	$2,500	$2.91	15d	1	0.23mi
702 E Henry St Unit B Savannah, GA	2.0	1.0	750	$1,800	$2.40	15d	1	0.24mi
1203 Atlantic Ave Savannah, GA	1.0	1.0	550	$1,200	$2.18	15d	1	0.26mi
304 E 33rd St Savannah, GA	2.0	1.5	1099	$1,950	$1.77	25d	1	0.26mi
310 E Anderson St Unit C Savannah, GA	1.0	1.0	675	$1,295	$1.92	15d	1	0.26mi
313 E Henry St Unit C Savannah, GA	1.0	1.0	750	$1,745	$2.33	45d	1	0.28mi
532 E Park Ave Savannah, GA	1.0	1.0	1010	$2,900	$2.87	45d	1	0.29mi
501 E Park Ave Unit 1 Savannah, GA	1.0	1.0	700	$1,695	$2.42	45d	1	0.30mi
309 E Duffy St Savannah, GA	2.0	1.0	950	$2,200	$2.32	45d	1	0.32mi
407 E Park Ave Unit A Savannah, GA	2.0	1.0	1108	$1,975	$1.78	45d	1	0.32mi
502 E Park Ave Unit A Savannah, GA	2.0	1.0	900	$1,800	$2.00	15d	1	0.32mi
412 Seiler Ave Unit A Savannah, GA	1.0	1.0	651	$1,400	$2.15	45d	1	0.35mi
209 E Duffy St Unit A Savannah, GA	1.0	1.0	783	$2,950	$3.77	22d	1	0.37mi
533 E 38th St Savannah, GA	1.0	1.5	745	$1,500	$2.01	45d	1	0.37mi
222 E 37th St Savannah, GA	1.0–2.0	1.0	555	$1,213	$2.19	45d	1	0.39mi
124 E Henry St Unit D Savannah, GA	1.0	1.0	750	$1,450	$1.93	15d	1	0.39mi
542 E Bolton St Savannah, GA	2.0	1.0	1060	$1,700	$1.60	15d	1	0.41mi
762 E Waldburg St Savannah, GA	2.0	1.0	700	$1,650	$2.36	25d	1	0.42mi
17 E 31st St Savannah, GA	1.0–2.0	1.0–2.0	848	$2,940	$3.46	15d	12	0.42mi
29 E 34th St Apt 3 Savannah, GA	1.0	1.0	1050	$1,675	$1.60	15d	1	0.43mi
112 E Duffy St Savannah, GA	2.0	1.0	987	$2,150	$2.18	45d	1	0.44mi
9 E 32nd St Unit B Savannah, GA	1.0	1.0	1000	$1,650	$1.65	15d	1	0.45mi
810 E Park Ave Unit B Savannah, GA	3.0	2.0	1100	$2,700	$2.45	45d	1	0.45mi
8 E 33rd St Unit B Savannah, GA	1.0	1.0	558	$1,500	$2.69	15d	1	0.45mi
1512 Bull St Savannah, GA	1.0	1.0	950	$2,809	$2.96	45d	1	0.46mi
914 E 34th St Unit 916 Savannah, GA	3.0	1.0	935	$1,995	$2.13	25d	1	0.46mi
614 E Gwinnett St Unit 616 Savannah, GA	2.0	2.0	1116	$2,790	$2.50	45d	1	0.46mi

Listing history 20 events

1. 2026-06-21
   statusdays on market $175,000 Active Under Contract 40 DOM
2. 2026-06-18
   days on market $175,000 Active 37 DOM
3. 2026-06-17
   days on market $175,000 Active 36 DOM
4. 2026-06-16
   days on market $175,000 Active 35 DOM
5. 2026-06-15
   days on market $175,000 Active 34 DOM
6. 2026-06-14
   days on market $175,000 Active 32 DOM
7. 2026-06-13
   days on market $175,000 Active 31 DOM
8. 2026-06-10
   days on market $175,000 Active 29 DOM
9. 2026-06-09
   days on market $175,000 Active 28 DOM
10. 2026-06-08
    days on market $175,000 Active 27 DOM
11. 2026-06-07
    days on market $175,000 Active 26 DOM
12. 2026-06-05
    days on market $175,000 Active 23 DOM
13. 2026-06-03
    days on market $175,000 Active 22 DOM
14. 2026-06-02
    days on market $175,000 Active 21 DOM
15. 2026-06-01
    days on market $175,000 Active 20 DOM
16. 2026-05-31
    days on market $175,000 Active 19 DOM
17. 2026-05-30
    days on market $175,000 Active 18 DOM
18. 2026-05-12
    listed $194,500 Active 464-char remark
19. 2006-06-15
    soldstatus $33,000
20. 2005-04-04
    soldstatus $181,000

ⓘ 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: $2,536 · $211/mo
• Projected year-2 tax: $2,536 · $211/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: $23,879
• − Mortgage interest: −$9,803
• − Property taxes: −$2,536
• − Insurance: −$875
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$5,091
• Taxable income: $1,754
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $4,020/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

-3.3% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $175,000 Hive MLS
• 2026-05-12 Listed $194,500 Hive MLS
• 2006-06-15 Sold (Public Records) $33,000 Public Records
• 2005-04-04 Sold (Public Records) $181,000 Public Records

Property tax history

+19.5%/yr

Latest (2025): $2,536 · -6.5% YoY. Source: county tax records.