229 Millen St · Savannah, GA 31415

$155,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 145 Days on market

Built 1900 3,049 sqft lot $173/sqft · 20% above area Est $144k · 8% over

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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 +23.3/30.0
• DSCR +7.5/10.0
• 1% rule +5.2/10.0
• Livability +4.3/5.0
• ARV discount +4.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS HOME IS GREAT FOR AN OWNER OCCUPANT OR A PERFECT RENTAL PROPERTY THAT IS READY TO BE ADDED TO YOUR PORTFOLIO. OFFERING 1000 SQFT WITH 3 BEDROOMS, 1.5 BATHROOMS, NICE FLOORING AND A FRESHLY PAINTED INTERIOR. THERE’S NEW BATHROOMS AND A NEW KITCHEN WITH STAINLESS STEEL APPLIANCES.

Key facts

• 3,049 sq ft lot
• Built 1900
• Listed 145 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: 78 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• At $1,584/mo this rent would consume 51% of the median local household income ($37k/yr) (locally 613% 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 145 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $155k implies a 158% 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 $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 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?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.82%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (median comp): $144,155
• List price: $155,000
• Delta: 7.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Sugden St	0.07mi	3/1.0	910 (+2%)	8mo	$105,000	$115	88
1424 Comer St	0.18mi	2/1.0 (-1)	850 (-5%)	7mo	$207,000	$244	72
259 Brittany St	0.34mi	2/1.0 (-1)	934 (+4%)	3mo	$69,500	$74	70
129 Mcintyre St	0.14mi	3/1.0	960 (+7%)	14mo	$97,400	$101	70
2102 Patch St	0.35mi	3/1.0	960 (+7%)	4mo	$115,000	$120	69
2011 Gugel St	0.26mi	2/1.0 (-1)	960 (+7%)	4mo	$220,000	$229	68
1314 New Castle St	0.18mi	2/2.0 (-1)	816 (-9%)	3mo	$195,000	$239	65
1509 Stratford St	0.09mi	2/1.0 (-1)	805 (-10%)	12mo	$137,000	$170	64
11 West St	0.24mi	2/2.0 (-1)	798 (-11%)	1mo	$207,000	$259	61
2016 Eppinger St	0.27mi	2/2.0 (-1)	1,018 (+14%)	1mo	$210,000	$206	55
227 Glass St	0.45mi	2/1.0 (-1)	1,000 (+12%)	5mo	$299,000	$299	50
17 E Lathrop Ave	0.48mi	2/1.0 (-1)	792 (-12%)	8mo	$25,000	$32	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-7,143
• Equity at exit: $23,111

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $16,815
• Equity at exit: $13,402

Cash invested: $43,400 (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 31415

• Home prices YoY: -21.4%
• Active inventory: 78
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,584 high
• Mortgage (P&I): −$813
• Tax from tax record: −$91 /mo · $1,092/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $283

Break-even live

Break-even rent $1,226

Max offer price $155,000

Occupancy floor 77%

Sensitivity live

Price	-10% $371	-5% $327	+0% $283	+5% $239	+10% $195
Rent	-10% $158	-5% $220	+0% $283	+5% $345	+10% $408
Rate	-1.0pp $361	-0.5pp $322	base $283	+0.5pp $243	+1.0pp $202

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1423 Richards St Savannah, GA	2.0	1.0	672	$1,275	$1.90	45d	1	0.09mi
1416 Chester St Savannah, GA	3.0	1.0	960	$1,600	$1.67	24d	1	0.09mi
1421 Richards St Savannah, GA	2.0	1.0	672	$1,275	$1.90	45d	1	0.09mi
1419 Richards St Savannah, GA	2.0	1.0	672	$1,200	$1.79	45d	1	0.10mi
1415 Richards St Savannah, GA	2.0	1.0	672	$1,200	$1.79	45d	1	0.10mi
226 Fell St Savannah, GA	3.0	1.0	1025	$1,695	$1.65	22d	1	0.12mi
1402 New Castle St Savannah, GA	2.0	1.0	928	$1,500	$1.62	45d	1	0.15mi
1402 Comer St Savannah, GA	2.0	1.0	690	$1,200	$1.74	45d	1	0.20mi
40 Eagle St Savannah, GA	1.0–2.0	1.0	841	$1,331	$1.58	24d	6	0.23mi
120 Jenks St Savannah, GA	3.0	1.0	1042	$1,600	$1.54	45d	1	0.24mi
1325 Exley St Savannah, GA	2.0–3.0	1.0–2.5	1193	$1,432	$1.20	22d	6	0.28mi
2023 Gugel St Savannah, GA	3.0	2.0	1008	$1,900	$1.88	45d	1	0.30mi
206 Ferrill St Savannah, GA	3.0	1.0	936	$1,450	$1.55	15d	1	0.33mi
2100 Patch St Savannah, GA	2.0	1.0	672	$1,525	$2.27	45d	1	0.35mi
17 Dutton St Savannah, GA	3.0	1.0	990	$1,650	$1.67	15d	1	0.64mi
911 Crosby St Savannah, GA	3.0	2.0	1116	$2,000	$1.79	45d	1	0.97mi
905 Elliott Ave Savannah, GA	2.0	2.0	1032	$1,800	$1.74	45d	1	0.97mi
1013 Carroll St Savannah, GA	2.0	1.5	768	$1,400	$1.82	45d	1	1.05mi
646 W Bay St Savannah, GA	2.0–4.0	2.0–4.0	1341	$1,684	$1.26	14d	11	1.10mi
601 Indian St Savannah, GA	2.0	1.0–2.0	816	$3,521	$4.31	14d	19	1.20mi
630 Indian St Savannah, GA	2.0	1.0–2.0	824	$3,125	$3.79	14d	17	1.21mi
1437 Audubon Dr Savannah, GA	3.0	1.0	925	$1,575	$1.70	45d	1	1.31mi
540 Selma St Savannah, GA	2.0–5.0	2.0–5.0	790	$1,112	$1.41	24d	1	1.33mi
528 Selma St Unit B Savannah, GA	2.0	2.0	974	$2,625	$2.70	15d	1	1.38mi
3508 Haslam Ave Savannah, GA	2.0	1.0	988	$1,395	$1.41	24d	1	1.49mi

Listing history 19 events

1. 2026-06-13
   status $155,000 Pending 145 DOM
2. 2026-06-10
   days on market $155,000 Active 145 DOM
3. 2026-06-09
   days on market $155,000 Active 144 DOM
4. 2026-06-08
   days on market $155,000 Active 143 DOM
5. 2026-06-07
   days on market $155,000 Active 142 DOM
6. 2026-06-05
   days on market $155,000 Active 139 DOM
7. 2026-06-03
   days on market $155,000 Active 138 DOM
8. 2026-06-02
   days on market $155,000 Active 137 DOM
9. 2026-06-01
   days on market $155,000 Active 136 DOM
10. 2026-05-31
    days on market $155,000 Active 135 DOM
11. 2026-05-30
    days on market $155,000 Active 134 DOM
12. 2026-05-13
    price $155,000 290-char remark

    Show marketing remark (290 chars)

    THIS HOME IS GREAT FOR AN OWNER OCCUPANT OR A PERFECT RENTAL PROPERTY THAT IS READY TO BE ADDED TO YOUR PORTFOLIO. OFFERING 1000 SQFT WITH 3 BEDROOMS, 1.5 BATHROOMS, NICE FLOORING AND A FRESHLY PAINTED INTERIOR. THERE’S NEW BATHROOMS AND A NEW KITCHEN WITH STAINLESS STEEL APPLIANCES.

13. 2026-02-13
    status Active 290-char remark

    Show marketing remark (290 chars)

    THIS HOME IS GREAT FOR AN OWNER OCCUPANT OR A PERFECT RENTAL PROPERTY THAT IS READY TO BE ADDED TO YOUR PORTFOLIO. OFFERING 1000 SQFT WITH 3 BEDROOMS, 1.5 BATHROOMS, NICE FLOORING AND A FRESHLY PAINTED INTERIOR. THERE’S NEW BATHROOMS AND A NEW KITCHEN WITH STAINLESS STEEL APPLIANCES.

14. 2026-02-06
    status Pending 290-char remark

    Show marketing remark (290 chars)

    THIS HOME IS GREAT FOR AN OWNER OCCUPANT OR A PERFECT RENTAL PROPERTY THAT IS READY TO BE ADDED TO YOUR PORTFOLIO. OFFERING 1000 SQFT WITH 3 BEDROOMS, 1.5 BATHROOMS, NICE FLOORING AND A FRESHLY PAINTED INTERIOR. THERE’S NEW BATHROOMS AND A NEW KITCHEN WITH STAINLESS STEEL APPLIANCES.

15. 2026-01-10
    listed $165,000 Active 290-char remark

    Show marketing remark (290 chars)

    THIS HOME IS GREAT FOR AN OWNER OCCUPANT OR A PERFECT RENTAL PROPERTY THAT IS READY TO BE ADDED TO YOUR PORTFOLIO. OFFERING 1000 SQFT WITH 3 BEDROOMS, 1.5 BATHROOMS, NICE FLOORING AND A FRESHLY PAINTED INTERIOR. THERE’S NEW BATHROOMS AND A NEW KITCHEN WITH STAINLESS STEEL APPLIANCES.

16. 2025-01-20
    soldstatus $60,000 Sold 264-char remark

    Show marketing remark (264 chars)

    This property is perfect for the savvy investor looking to expand their portfolio. The home needs some work and is being sold as-is, making it an ideal project to add value. Currently occupied, but the property will be vacant at closing. All offers will be vetted.

17. 2025-01-07
    status Under Contract 264-char remark

    Show marketing remark (264 chars)

    This property is perfect for the savvy investor looking to expand their portfolio. The home needs some work and is being sold as-is, making it an ideal project to add value. Currently occupied, but the property will be vacant at closing. All offers will be vetted.

18. 2025-01-02
    listed $60,000 New 264-char remark

    Show marketing remark (264 chars)

    This property is perfect for the savvy investor looking to expand their portfolio. The home needs some work and is being sold as-is, making it an ideal project to add value. Currently occupied, but the property will be vacant at closing. All offers will be vetted.

19. 1997-11-26
    soldstatus $15,000

ⓘ 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: $1,092 · $91/mo
• Projected year-2 tax: $1,426 · $119/mo
• Expected delta: +$334/yr (+$28/mo · 30.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $19,006
• − Mortgage interest: −$8,682
• − Property taxes: −$1,092
• − Insurance: −$775
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$4,509
• Taxable income: $907
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $3,176/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): 11,082
• Household income: $37,109
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 613.0

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: Predominantly Black (89%)
• Race & ethnicity: Black 89% White 5% Hispanic / Latino 5% Two or more races 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -55.36%
• Current HPI: 203.0696
• Rent YoY: —
• 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

+933.3% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $155,000 Hive MLS
• 2026-02-13 Relisted — Hive MLS
• 2026-02-06 Pending — Hive MLS
• 2026-01-10 Listed $165,000 Hive MLS
• 2025-01-20 Sold (MLS) $60,000 GAMLS
• 2025-01-07 Pending — GAMLS
• 2025-01-02 Listed $60,000 GAMLS
• 1997-11-26 Sold (Public Records) $15,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,092 · +157.9% YoY. Source: county tax records.