2206 N Fernwood Dr · Savannah, GA 31404

$298,000

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 16 Days on market

Built 1950 7,919 sqft lot Est $354k · 16% under

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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).

• ARV discount +14.6/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• Livability +4.3/5.0
• Rent growth +3.4/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Endless opportunity awaits at this spacious residence with separate ADU that is ready for your vision and creativity! With a 3 bed/2 bath main home and studio ADU, this home is an incredible investment opportunity or your chance at the perfect space for multi-generational living. The main home features a large living room that flows into a spacious kitchen with ample cabinetry and stainless steel fridge and stove. Three bedrooms plus a separate den/bonus room, perfect for a home office, playroom, or additional bedroom, offer plenty of flexibility. Enjoy the oversized screened-in back porch overlooking a fully fenced backyard. The detached studio ADU is a hidden gem, complete with a cozy fireplace, full kitchen, and bathroom with a soaking tub - ideal for guests, rental income, or a private retreat. With its solid layout and versatile spaces, this property is a blank canvas with endless possibilities. Don’t miss the chance to bring this home to life!

Key facts

• Full kitchen
• Fenced backyard
• Large screened porch

Tags

• LARGE SCREENED PORCH
• FENCED BACKYARD
• FULL KITCHEN
• IMMEDIATE INCOME POTENTIAL

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single story
• Exterior features: Wood fencing; Has a view

Interior

• Kitchen: Oven; Range; Refrigerator; Electric water heater
• Bathrooms: Three full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans
• Laundry & utility: Laundry room; Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $64 ($767/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 $235k (21.3% below list).
• Recommended offer: $235k (21.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+3.6%/yr); 226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $2,346/mo this rent would consume 53% of the median local household income ($53k/yr) (locally 1649% 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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $234,627 (21.3% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.79% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $354,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2310 Coakley St	0.34mi	3/2.0	1,648 (+6%)	9mo	$376,500	$228	64
82 Tall Pine Ave	0.21mi	4/2.0 (+1)	1,616 (+4%)	14mo	$309,000	$191	63
3204 Hazel St	0.26mi	4/2.0 (+1)	1,634 (+5%)	15mo	$300,000	$184	59
1910 Linnhurst Dr	0.54mi	3/2.0	1,440 (-8%)	1mo	$310,000	$215	57
3108 Butler Ave	0.48mi	3/2.0	1,485 (-5%)	12mo	$341,000	$230	55
2808 Whatley Ave	0.45mi	3/3.0	1,410 (-10%)	1mo	$360,000	$255	54
3130 Robertson Ave	0.73mi	3/2.0	1,462 (-6%)	1mo	$410,000	$280	51
3010 Leonard St	0.60mi	3/2.0	1,715 (+10%)	3mo	$390,000	$227	49
2338 Fleet St	0.42mi	3/2.0	1,400 (-10%)	14mo	$257,000	$184	47
2301 Pinetree Rd	0.68mi	3/1.0	1,372 (-12%)	11mo	$250,000	$182	39
2211 E 59th St	0.67mi	3/2.5	1,414 (-9%)	15mo	$412,000	$291	35
2314 Shirley Dr	0.74mi	4/2.0 (+1)	1,384 (-11%)	11mo	$299,900	$217	28

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 · 3.62% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-42,877
• Equity at exit: $44,433

10-year hold

• IRR: -4.7%
• Equity multiple: 0.68×
• Total profit: $-26,506
• Equity at exit: $25,766

Cash invested: $83,440 (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 31404

• Rents YoY: 3.6%
• Active inventory: 226
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,346 high
• Mortgage (P&I): −$1,563
• Tax from tax record: −$103 /mo · $1,233/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $64

Break-even live

Break-even rent $2,265

Max offer price $298,000

Occupancy floor 92%

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 N Parkwood Dr Savannah, GA	3.0	2.0	1277	$2,200	$1.72	14d	1	0.21mi
3715 Skidaway Rd Savannah, GA	3.0	2.0	1154	$1,895	$1.64	23d	1	0.36mi
2112 Clars Ave Unit A Savannah, GA	2.0	1.0	1500	$1,700	$1.13	44d	1	0.52mi
1904 E 51st St Savannah, GA	4.0	2.5	1800	$2,300	$1.28	14d	1	0.59mi
2637 Evergreen Ave Savannah, GA	3.0	2.0	1642	$2,000	$1.22	44d	1	0.62mi
2337 Shirley Dr Savannah, GA	3.0	2.0	1850	$2,600	$1.41	23d	1	0.70mi
3712 Oakland Ct Savannah, GA	3.0	1.5	1903	$2,495	$1.31	14d	1	0.71mi
2220 E Victory Dr #24 Savannah, GA	2.0	1.5	1102	$1,700	$1.54	23d	1	0.72mi
3601 Eastgate Dr Savannah, GA	3.0	2.0	1400	$2,500	$1.79	44d	1	0.72mi
2323 Downing Ave Savannah, GA	2.0–3.0	1.5–2.0	1014	$1,899	$1.87	14d	14	0.73mi
2902 River Dr Unit D301 Savannah, GA	3.0	2.0	1800	$4,700	$2.61	44d	1	0.74mi
5020 La Roche Ave Savannah, GA	3.0	2.5	2170	$3,350	$1.54	14d	1	0.75mi
2110 E 56th St Savannah, GA	3.0	2.0	1140	$2,200	$1.93	44d	1	0.76mi
2345 Ranchland Dr Savannah, GA	3.0	1.0	1098	$2,100	$1.91	14d	1	0.78mi
2612 Dogwood Ave Savannah, GA	1.0–3.0	1.0–2.0	1020	$1,775	$1.74	14d	11	0.83mi
3206 Robertson Ave Savannah, GA	4.0	3.0	2221	$5,500	$2.48	23d	1	0.85mi
2328 E 41st St Savannah, GA	2.0	1.0	1072	$1,700	$1.59	44d	1	0.87mi
2033 E 41st St Savannah, GA	4.0	2.0	1448	$2,800	$1.93	44d	1	0.90mi
1901 E 57th St Savannah, GA	3.0	1.0	1215	$1,750	$1.44	44d	1	0.95mi
1815 E 58th St Savannah, GA	3.0	2.0	1176	$2,400	$2.04	44d	1	1.00mi
2233 E De Renne Ave Savannah, GA	4.0	2.0	1476	$2,400	$1.63	23d	1	1.01mi
30 Pine Valley Rd Savannah, GA	3.0	1.0	1133	$1,950	$1.72	44d	1	1.05mi
2201 E 37th St Savannah, GA	3.0	1.5	1424	$1,800	$1.26	23d	1	1.06mi
1802 E 62nd St Savannah, GA	4.0	2.0	1475	$2,800	$1.90	44d	1	1.07mi
2840 Wicklow St Savannah, GA	1.0–3.0	1.0–2.0	1071	$2,869	$2.68	14d	50	1.07mi
1534 E 53rd St Unit A Savannah, GA	3.0	2.0	1606	$2,950	$1.84	23d	1	1.09mi
375 Laurel Oak Ln Thunderbolt, GA	3.0	2.5	1200	$1,800	$1.50	44d	1	1.09mi
1315 Bonaventure Rd Unit upstair Savannah, GA	2.0	1.0	1650	$1,500	$0.91	14d	1	1.10mi
5505 Betty Dr Savannah, GA	3.0	2.0	1550	$1,859	$1.20	44d	1	1.12mi
2619 Livingston Ave Savannah, GA	3.0	1.5	1300	$1,555	$1.20	23d	1	1.13mi
1507 E 51st St Savannah, GA	3.0	2.0	2135	$2,880	$1.35	44d	1	1.18mi
1413 E 55th St Savannah, GA	3.0	1.0	1100	$2,500	$2.27	44d	1	1.21mi
2149 Vermont Ave Savannah, GA	3.0	2.0	1213	$1,955	$1.61	44d	1	1.21mi
1405 E 51st St Savannah, GA	3.0	2.0	1458	$2,850	$1.95	44d	1	1.26mi
1804 Georgia Ave Savannah, GA	3.0	2.0	1528	$2,950	$1.93	44d	1	1.28mi
114 Oleander Ave Unit Na Savannah, GA	3.0	1.0	1128	$2,100	$1.86	44d	1	1.34mi
1411 E 58th St Savannah, GA	3.0	2.0	1100	$1,900	$1.73	23d	1	1.34mi
1331 E 48th St Savannah, GA	3.0	2.0	1408	$3,450	$2.45	44d	1	1.36mi
2222 Bacon Park Dr Savannah, GA	4.0	2.0	2246	$2,995	$1.33	44d	1	1.38mi
1436 E 42nd St Savannah, GA	3.0	2.0	1447	$2,290	$1.58	14d	1	1.42mi

Listing history 13 events

1. 2026-06-18
   days on market $298,000 Active 16 DOM
2. 2026-06-17
   days on market $298,000 Active 15 DOM
3. 2026-06-16
   days on market $298,000 Active 14 DOM
4. 2026-06-15
   days on market $298,000 Active 13 DOM
5. 2026-06-14
   days on market $298,000 Active 11 DOM
6. 2026-06-13
   days on market $298,000 Active 10 DOM
7. 2026-06-10
   days on market $298,000 Active 8 DOM
8. 2026-06-09
   days on market $298,000 Active 7 DOM
9. 2026-06-08
   days on market $298,000 Active 6 DOM
10. 2026-06-07
    days on market $298,000 Active 5 DOM
11. 2026-06-05
    days on market $298,000 Active 2 DOM
12. 2026-06-02
    remarks 673-char remark
13. 2026-06-02
    listed $298,000 Active 1 DOM

ⓘ 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: $1,233 · $103/mo
• Projected year-2 tax: $2,742 · $228/mo
• Expected delta: +$1,509/yr (+$126/mo · 122.4%)

ⓘ 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 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,155
• − Mortgage interest: −$16,693
• − Property taxes: −$1,233
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,252
• − Management: −$2,252
• − Depreciation: −$8,669
• Taxable loss: −$4,434
• Est. tax savings @ 24.0%: +$1,064
• After-tax cash flow: $1,831/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): 30,062
• Household income: $53,303
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 1649.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 33% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -187.86%
• Current HPI: 310.0764
• Rent YoY: ▲ 3.62%
• 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

+1286.0% since first listed

8 events — show timeline

• 2026-06-01 Listed $298,000 Hive MLS
• 2025-10-08 Sold (Public Records) $290,000 Public Records
• 2025-10-06 Sold (MLS) $290,000 Hive MLS
• 2025-08-11 Listed $290,000 Hive MLS
• 2025-06-25 Sold (Public Records) $217,000 Public Records
• 2006-12-29 Sold (Public Records) $112,500 Public Records
• 2004-11-19 Sold (Public Records) $87,900 Public Records
• 1975-12-01 Sold (Public Records) $21,500 Public Records

Property tax history

+7.6%/yr

Latest (2025): $1,233 · -48.6% YoY. Source: county tax records.