3808 Elmdale Ave · Savannah, GA 31405

$179,000

2 bd · 1.0 ba · 1,138 sqft · SingleFamily public records · 44 Days on market

Built 1945 0.43 ac lot $157/sqft · at area comps Est $220k · 19% under ↓ 17% since listing

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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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.1/10.0
• Livability +4.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS! Prime investment opportunity located in a tranquil cul-de-sac. This property, spanning 1,344 square feet, offers three bedrooms and two bathrooms, making it an ideal choice for investors seeking a stable rental income. Situated on a generous 0.40-acre lot, this home provides ample space for future enhancements or expansions. The residence features a screened front porch, perfect for enjoying the serene surroundings. Its strategic location near popular restaurants and hotels adds to its appeal, ensuring convenience for tenants and potential future buyers alike.

Key facts

• 0.43 acre lot
• Built 1945
• Listed 44 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Underground utilities
• Home design: Single-family residence; One-story
• Construction: Stucco exterior
• Exterior features: Screened porch

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (2 on the main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Electric water heater
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $174k (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 soft (-0.7%/yr); 268 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• This rent runs 33% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 44 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1945 — 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: 1.01% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (median comp): $219,886
• List price: $179,000
• Delta: -18.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1920 Lloyd St	0.71mi	3/1.0 (+1)	1,024 (-10%)	3mo	$205,000	$200	43
4705 Garrard Ave	0.55mi	3/1.0 (+1)	1,225 (+8%)	19mo	$233,000	$190	41
2016 Nash Ave	0.70mi	3/2.0 (+1)	1,291 (+13%)	1mo	$90,000	$70	35
1916 Pendleton St	0.74mi	3/2.0 (+1)	1,205 (+6%)	18mo	$218,000	$181	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-10,797
• Equity at exit: $26,689

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $136
• Equity at exit: $15,477

Cash invested: $50,120 (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 31405

• Home prices YoY: -32.4%
• Rents YoY: -0.7%
• Active inventory: 268
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,812 high
• Mortgage (P&I): −$939
• Tax from tax record: −$48 /mo · $573/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $371

Break-even live

Break-even rent $1,343

Max offer price $179,000

Occupancy floor 75%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Pine Dr Savannah, GA	3.0	1.0	1187	$1,800	$1.52	44d	1	0.29mi
1930 Upson St Savannah, GA	3.0	1.0	950	$2,155	$2.27	44d	1	0.79mi
2011 Comet Ave Savannah, GA	3.0	2.0	1126	$2,400	$2.13	23d	1	0.84mi
1 Brandle Cv Savannah, GA	3.0	2.0	1449	$1,870	$1.29	14d	1	0.99mi
1475 Chatham Pkwy Savannah, GA	1.0–2.0	1.0–2.0	966	$1,751	$1.81	14d	27	1.05mi
1000 Chatham Center Dr Savannah, GA	1.0–3.0	1.0–2.0	982	$1,840	$1.87	14d	15	1.08mi
100 Walden Ln Savannah, GA	1.0–3.0	1.0–2.0	1027	$1,532	$1.49	14d	31	1.11mi
1699 Chatham Pkwy Savannah, GA	1.0–3.0	1.0–2.0	1008	$1,664	$1.65	14d	40	1.18mi
1925 Cowan Ave Savannah, GA	3.0	1.0	950	$1,855	$1.95	44d	1	1.26mi
1921 Cowan Ave Savannah, GA	3.0	1.0	1104	$1,850	$1.68	23d	1	1.27mi
2807 Ryals St Savannah, GA	3.0	2.0	1220	$1,650	$1.35	23d	1	1.28mi
2110 Louis Mills Blvd Savannah, GA	2.0	1.0	928	$1,400	$1.51	44d	1	1.34mi

Listing history 24 events

1. 2026-06-18
   price $179,000 Active 44 DOM
2. 2026-06-18
   days on market $199,000 Active 44 DOM
3. 2026-06-17
   days on market $199,000 Active 43 DOM
4. 2026-06-16
   days on market $199,000 Active 42 DOM
5. 2026-06-15
   days on market $199,000 Active 41 DOM
6. 2026-06-14
   days on market $199,000 Active 39 DOM
7. 2026-06-13
   days on market $199,000 Active 38 DOM
8. 2026-06-10
   days on market $199,000 Active 36 DOM
9. 2026-06-09
   days on market $199,000 Active 35 DOM
10. 2026-06-08
    days on market $199,000 Active 34 DOM
11. 2026-06-07
    days on market $199,000 Active 33 DOM
12. 2026-06-05
    days on market $199,000 Active 30 DOM
13. 2026-06-03
    days on market $199,000 Active 29 DOM
14. 2026-06-02
    days on market $199,000 Active 28 DOM
15. 2026-06-01
    days on market $199,000 Active 27 DOM
16. 2026-05-31
    days on market $199,000 Active 26 DOM
17. 2026-05-30
    days on market $199,000 Active 25 DOM
18. 2026-05-04
    listed $199,000 Active 587-char remark
19. 2026-05-01
    historical
20. 2025-05-12
    listed $199,000 Active
21. 2024-10-09
    historical
22. 2024-10-09
    historical
23. 2024-06-13
    listed $239,000
24. 2024-06-13
    listed $239,000

ⓘ 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: $573 · $48/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: +$1,074/yr (+$90/mo · 187.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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: $21,745
• − Mortgage interest: −$10,027
• − Property taxes: −$573
• − Insurance: −$895
• − Repairs & maintenance: −$1,740
• − Management: −$1,740
• − Depreciation: −$5,207
• Taxable income: $1,564
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $4,071/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): 40,764
• Household income: $65,710
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 1712.0

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 0.63)
• Race & ethnicity: Black 47% White 38% Hispanic / Latino 8% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -147.33%
• Current HPI: 307.4442
• Rent YoY: ▼ -0.66%
• 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

-16.7% since first listed

7 events — show timeline

• 2026-05-04 Listed $199,000 Hive MLS
• 2026-05-01 Listing Removed — Hive MLS
• 2025-05-12 Listed $199,000 Hive MLS
• 2024-10-09 Listing Removed — Hive MLS
• 2024-10-09 Listing Removed — Hive MLS
• 2024-06-13 Listed $239,000 Hive MLS
• 2024-06-13 Listed $239,000 Hive MLS

Property tax history

+4.5%/yr

Latest (2025): $573 · -46.8% YoY. Source: county tax records.