78 Spruce St · Richmond Hill, GA 31324

$249,900

2 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 120 Days on market

Built 1940 0.48 ac lot Est $242k · at est.

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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).

• Cash flow +13.7/30.0
• ARV discount +6.0/15.0
• Schools +4.5/10.0
• DSCR +4.1/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sold as is. 2 homes on the same property!!! This is a must see!! Are you looking for a unique opportunity? Welcome to one of the only 2-home properties in south Bryan County, right in the heart of Richmond Hill! At nearly a half-acre and totaling nearly 2500 square feet of living space, both homes have separate fenced-in areas and easy access to Ford Ave and I-95, making the commute to Ft. Stewart, Hunter AAF, Savannah and more easy and quick. Close to dining and shopping, and walkable to coffee, gyms, and more.

Key facts

• Easy access to i-95
• Commute to savannah
• 0.48 acre lot

Tags

• SEPARATE FENCED-IN AREAS
• EASY ACCESS TO FORD AVE
• EASY ACCESS TO I-95
• COMMUTE TO FT STEWART
• COMMUTE TO HUNTER AAF
• COMMUTE TO SAVANNAH

Property features AI

Finance

• Other: Located in the Blueberry Village subdivision
• Financial info: Land lease expires October 31, 2025

Exterior

• Parking: Off-street parking
• Utilities: Private well water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Wood siding; Other construction material
• Exterior features: Private well water; Public sewer; Lot in a city zoning

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Other heating; Wall unit cooling; Other cooling
• Interior features: Laundry room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $18 ($212/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (18.2% below list).
• Recommended offer: $204k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.2% in Richmond Hill — 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 69/100 on livability (#122 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment B; Watch: amenities F, commute F, health & safety F.
• Bryan County (rural): math 49% / reading 53% proficiency, ranked #14 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Richmond Hill Primary School (799 students, 37% FRL); Richmond Hill Middle School (math 49% / reading 61%, grade B-, #51 of 470 statewide, top 11%, 1,894 students, 25% FRL); Richmond Hill High School (math 32% / reading 58%, grade D-, #46 of 424 statewide, top 11%, 2,454 students, 23% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising (+2.2%/yr); 484 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 510 units permitted in Bryan County in 2024 (68 in 5+ unit buildings).

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.
• Bryan County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $45k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $197k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,405 (18.2% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 18% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $241,696
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
262 Camellia St	0.34mi	3/2.0 (+1)	1,344 (-8%)	3mo	$223,000	$166	64
285 Rushing St	0.31mi	3/2.0 (+1)	1,248 (-14%)	14mo	$125,000	$100	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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-41,114
• Equity at exit: $37,261

10-year hold

• IRR: -10.0%
• Equity multiple: 0.41×
• Total profit: $-41,387
• Equity at exit: $21,607

Cash invested: $69,972 (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 31324

• Home prices YoY: -30.8%
• Rents YoY: 2.2%
• Active inventory: 484
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$183 /mo · $2,191/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $18

Break-even live

Break-even rent $2,022

Max offer price $249,900

Occupancy floor 94%

Sensitivity live

Price	-10% $159	-5% $88	+0% $18	+5% $-53	+10% $-124
Rent	-10% $-144	-5% $-63	+0% $18	+5% $98	+10% $179
Rate	-1.0pp $143	-0.5pp $81	base $18	+0.5pp $-47	+1.0pp $-113

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Laurel St Richmond Hill, GA	3.0	1.0	1362	$1,350	$0.99	45d	1	0.22mi
89 1st St Richmond Hill, GA	3.0	2.0	1531	$2,400	$1.57	22d	1	0.35mi
685 Rushing St Richmond Hill, GA	3.0	2.0	1016	$1,950	$1.92	25d	1	0.49mi
124 Hall St Richmond Hill, GA	3.0	2.0	1623	$2,400	$1.48	22d	1	0.56mi
127 Williams Ave Richmond Hill, GA	3.0	2.0	1768	$2,500	$1.41	25d	1	0.61mi
53 Dorsey Dr Richmond Hill, GA	3.0	2.5	1442	$2,100	$1.46	25d	1	0.78mi
96 Stafford Loop Richmond Hill, GA	3.0	2.5	1442	$2,150	$1.49	15d	1	0.82mi
120 Willow Oak Dr Richmond Hill, GA	3.0	2.5	1332	$2,250	$1.69	45d	1	0.94mi
20 Evergreen Oak Dr Richmond Hill, GA	3.0	2.0	1338	$1,975	$1.48	45d	1	0.95mi
50 Blue Oak Dr Richmond Hill, GA	3.0	2.0	1314	$2,000	$1.52	25d	1	0.96mi
240 Canyon Oak Loop Unit 1 Richmond Hill, GA	3.0	2.5	1393	$1,850	$1.33	45d	1	0.97mi
210 Canyon Oak Loop Richmond Hill, GA	3.0	2.5	1538	$2,100	$1.37	25d	1	0.98mi
85 Red Oak Dr Richmond Hill, GA	3.0	2.0	1193	$2,100	$1.76	45d	1	1.04mi
268 Scarlett Ln Richmond Hill, GA	3.0	2.5	1663	$2,650	$1.59	45d	1	1.05mi
1025 Canyon Oak Loop Richmond Hill, GA	3.0	2.5	1588	$1,950	$1.23	15d	1	1.07mi

Listing history 31 events

1. 2026-06-21
   days on market $249,900 Active 120 DOM
2. 2026-06-18
   days on market $249,900 Active 117 DOM
3. 2026-06-17
   days on market $249,900 Active 116 DOM
4. 2026-06-16
   days on market $249,900 Active 115 DOM
5. 2026-06-15
   remarks 517-char remark
6. 2026-06-15
   price $249,900 Active 114 DOM
7. 2026-06-15
   days on market $279,990 Active 114 DOM
8. 2026-06-14
   days on market $279,990 Active 112 DOM
9. 2026-06-13
   days on market $279,990 Active 111 DOM
10. 2026-06-10
    days on market $279,990 Active 109 DOM
11. 2026-06-09
    days on market $279,990 Active 108 DOM
12. 2026-06-08
    days on market $279,990 Active 107 DOM
13. 2026-06-07
    days on market $279,990 Active 106 DOM
14. 2026-06-05
    statusdays on market $279,990 Active 103 DOM
15. 2026-06-03
    days on market $279,990 Active Under Contract 102 DOM
16. 2026-06-02
    days on market $279,990 Active Under Contract 101 DOM
17. 2026-06-01
    days on market $279,990 Active Under Contract 100 DOM
18. 2026-05-31
    days on market $279,990 Active Under Contract 99 DOM
19. 2026-05-30
    days on market $279,990 Active Under Contract 98 DOM
20. 2026-04-17
    historical Active Under Contract
21. 2026-04-01
    status Active
22. 2026-03-31
    historical
23. 2026-03-26
    status Active
24. 2026-03-26
    historical
25. 2026-03-19
    price $279,990
26. 2026-03-03
    status Active
27. 2026-03-02
    historical
28. 2026-02-19
    listed $294,900 Active
29. 2025-10-20
    historical
30. 2025-10-17
    listed $309,900
31. 2011-09-15
    soldstatus $197,123

ⓘ 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: $2,191 · $183/mo
• Projected year-2 tax: $2,299 · $192/mo
• Expected delta: +$109/yr (+$9/mo · 5.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,529
• − Mortgage interest: −$13,998
• − Property taxes: −$2,191
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$7,270
• Taxable loss: −$4,104
• Est. tax savings @ 24.0%: +$985
• After-tax cash flow: $1,197/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: Bryan County
• NCES district ID: 1300570
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $64,465
• Composite: 44.99/100
• National rank: #2701
• State rank: #14 of 174 in GA

Livability — Richmond Hill

• Score: 69/100
• State rank: #122
• US rank: #8778

Category grades

Amenities F Commute F Cost of living B Crime A Employment B Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond Hill, GA
• County: Bryan County · 37,406 people
• City population: 37,406
• Metro: Savannah, GA
• Population (ZIP): 37,406
• Household income: $122,378
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 562.0

Population outlook (Bryan County) Hauer SSP2

• Today (2025): 45,980 people
• By 2030: 51,583 · +12.2%
• By 2040: 63,184 · +37.4%
• By 2050: 75,400 · +64.0%
• By 2075: 105,363 · +129.1%
• By 2100: 124,959 · +171.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 9% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Bryan

• 2024 margin: Solid R (+36.3) · D 31.6% · R 67.9%
• 2008→2024 swing: +6.3pp toward D · 2008: -42.6pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+35.2 2016: R+43.2 2012: R+43.6 2008: R+42.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.54%
• Current HPI: 215.1789
• Rent YoY: ▲ 2.17%
• 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

+42.0% since first listed

12 events — show timeline

• 2026-04-17 Contingent — Hive MLS
• 2026-04-01 Relisted — Hive MLS
• 2026-03-31 Listing Removed — Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-03-19 Price Changed $279,990 Hive MLS
• 2026-03-03 Relisted — Hive MLS
• 2026-03-02 Listing Removed — Hive MLS
• 2026-02-19 Listed $294,900 Hive MLS
• 2025-10-20 Listing Removed — Hive MLS
• 2025-10-17 Listed $309,900 Hive MLS
• 2011-09-15 Sold (Public Records) $197,123 Public Records

Property tax history

+7.2%/yr

Latest (2025): $2,191 · -1.4% YoY. Source: county tax records.