1207 E Bolton St

Savannah, GA 31404

$285,000D-

4 bd · 2.0 ba · 2,254 sqft · Built 1900 · MultiFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,050/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$380
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $-256/mo
• Annual: $-3,067/yr
• Cap rate: 5.22%
• Cash-on-cash: -3.84%
• DSCR: 0.83
• 1% rule: 0.72%
• Cash to close: $79,800

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $285k. Condition is rated fair.
• At list price, monthly cash flow is $-256 ($-3k/yr) — negative. Per door: $-128/mo.
• To cash-flow at today's rent, offer at most $240k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (28.1% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $205k (28.1% 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 $9k 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.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 368 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% 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).
• Chatham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $244k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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.
• Cap rate 5.2% 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.

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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — The exterior siding is weathered and stained, indicating significant damage and the need for replacement.
• Minor: interior walls — There are some visible stains and marks on the interior walls, which can be easily cleaned or painted.
• Minor: flooring — The carpeted flooring has some visible stains and wear, which can be cleaned or replaced.