221 E 49th St · Savannah, GA 31405

$380,000

4 bd · 2.0 ba · 2,000 sqft · SingleFamily public records · 155 Days on market

Built 1922 7,884 sqft lot $190/sqft · 27% below area Est $666k · 43% under ↓ 13% since listing

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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 +15.0/15.0
• Cash flow +11.1/30.0
• Livability +4.3/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 1% rule +2.2/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

Key facts

• Large floor plan
• Historic property
• 7,884 sq ft lot

Tags

• LARGE FLOOR PLAN
• HISTORIC PROPERTY
• ARDSLEY PARK NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $380k.

Deal economics

• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $353k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (28.0% below list).
• Recommended offer: $274k (28.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $2,736/mo this rent would consume 50% of the median local household income ($66k/yr) (locally 1712% 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 $3k of loan paydown is wiped out by about $11k 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 155 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $70k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $273,614 (28.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.71%
• DSCR: 0.92
• GRM: 11.6

CMA / ARV

• ARV (median comp): $666,443
• List price: $380,000
• Delta: -42.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 E 46th St	0.28mi	3/2.5 (-1)	1,972 (-1%)	1mo	$740,000	$375	77
602 E 41st St	0.44mi	4/3.5	2,009 (+0%)	1mo	$760,000	$378	72
415 Maupas Ave	0.45mi	3/2.5 (-1)	2,046 (+2%)	2mo	$758,000	$370	67
110 E 58th St	0.52mi	3/2.5 (-1)	2,021 (+1%)	1mo	$600,000	$297	67
102 E 55th St	0.36mi	3/2.5 (-1)	1,844 (-8%)	1mo	$628,650	$341	62
602 E 46th St	0.47mi	3/2.5 (-1)	2,108 (+5%)	2mo	$675,000	$320	60
203 E 56th St	0.40mi	3/2.5 (-1)	2,160 (+8%)	1mo	$664,000	$307	60
628 E 57th St	0.67mi	3/2.0 (-1)	1,908 (-5%)	1mo	$592,000	$310	56
525 E 39th St	0.54mi	4/2.0	2,232 (+12%)	2mo	$610,000	$273	54
20 E 61st St	0.74mi	3/2.0 (-1)	2,153 (+8%)	2mo	$434,000	$202	46
524 E 45th St	0.45mi	3/3.0 (-1)	2,274 (+14%)	1mo	$875,000	$385	46
723 E 50th St	0.62mi	3/3.0 (-1)	1,816 (-9%)	1mo	$649,000	$357	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.25×
• Total profit: $-79,402
• Equity at exit: $56,659

10-year hold

• IRR: -24.5%
• Equity multiple: -0.06×
• Total profit: $-113,178
• Equity at exit: $32,855

Cash invested: $106,400 (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 31405

• Home prices YoY: -32.4%
• Rents YoY: -0.7%
• Active inventory: 276
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,736 high
• Mortgage (P&I): −$1,993
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $-152

Break-even live

Break-even rent $2,928

Max offer price $353,217

Occupancy floor —

Sensitivity live

Price	-10% $63	-5% $-44	+0% $-152	+5% $-259	+10% $-367
Rent	-10% $-368	-5% $-260	+0% $-152	+5% $-44	+10% $65
Rate	-1.0pp $40	-0.5pp $-55	base $-152	+0.5pp $-250	+1.0pp $-350

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 E 50th St Unit 2 Savannah, GA	3.0	2.0	2200	$3,000	$1.36	45d	1	0.09mi
216 E 48th St Savannah, GA	3.0	1.0	1950	$2,395	$1.23	45d	1	0.11mi
214 E 48th St Savannah, GA	3.0	2.0	1950	$2,499	$1.28	45d	1	0.11mi
403 E 50th St Savannah, GA	3.0	2.0	1800	$2,950	$1.64	25d	1	0.19mi
417 E 49th St Savannah, GA	3.0	3.0	2400	$2,800	$1.17	25d	1	0.22mi
116 E 55th St Savannah, GA	3.0	2.5	2668	$4,500	$1.69	45d	1	0.31mi
123 E 55th St Unit Lower Savannah, GA	3.0	1.0	1700	$2,800	$1.65	45d	1	0.33mi
18 E 45th St Savannah, GA	3.0	2.0	2343	$3,800	$1.62	45d	1	0.41mi
3605 Bull St Unit 3 Savannah, GA	3.0	2.0	1408	$1,600	$1.14	25d	1	0.42mi
2 E 54th St Savannah, GA	3.0	2.5	2164	$2,575	$1.19	45d	1	0.42mi
2 E 54th St Savannah, GA	3.0	2.5	2164	$2,575	$1.19	25d	1	0.42mi
3605 Bull St #2 Savannah, GA	3.0	2.0	1408	$1,695	$1.20	45d	1	0.42mi
701 Maupas Ave Savannah, GA	4.0	2.0	3000	$3,500	$1.17	15d	1	0.56mi
201 E 39th St Unit B Savannah, GA	3.0	1.5	1550	$2,100	$1.35	45d	1	0.60mi
637 E 39th St Savannah, GA	4.0	3.0	2162	$2,895	$1.34	25d	1	0.60mi
216 W 43rd St Savannah, GA	3.0	3.0	1722	$2,900	$1.68	25d	1	0.66mi
120 E 61st St Savannah, GA	4.0	4.0	1750	$2,082	$1.19	45d	1	0.68mi
607 E 37th St Savannah, GA	4.0	2.0	1771	$2,300	$1.30	45d	1	0.70mi
2305 Whitaker St Unit A Savannah, GA	3.0	3.0	1600	$3,300	$2.06	15d	1	0.70mi
211 W 40th St Unit B Savannah, GA	3.0	1.0	1400	$3,200	$2.29	25d	1	0.72mi
2235 Whitaker St Savannah, GA	3.0	2.0	1600	$2,950	$1.84	15d	1	0.73mi
212 W 40th St Savannah, GA	3.0	2.0	2030	$3,600	$1.77	25d	1	0.74mi
206 W 39th St Savannah, GA	3.0	2.5	1966	$2,650	$1.35	25d	1	0.77mi
637 Columbus Dr Savannah, GA	3.0	2.0	1600	$2,895	$1.81	15d	1	0.78mi
1921 Reynolds St Savannah, GA	4.0	2.0	1773	$3,150	$1.78	45d	1	0.80mi
206 W 60th St Savannah, GA	3.0	1.0	1600	$1,600	$1.00	23d	1	0.81mi
3 W 36th St Apt 2 Savannah, GA	4.0	1.0	1750	$4,200	$2.40	45d	1	0.84mi
329 E 63rd St Savannah, GA	3.0	2.0	1451	$2,515	$1.73	45d	1	0.86mi
44 Thackery Pl Apt 3 Savannah, GA	3.0	2.0	1489	$1,800	$1.21	15d	1	0.88mi
102 W 36th St Savannah, GA	3.0	2.0	1500	$4,500	$3.00	25d	1	0.88mi
802 E 36th St Savannah, GA	3.0	1.5	2105	$2,400	$1.14	45d	1	0.90mi
1105 E 38th St Savannah, GA	3.0	2.0	1500	$2,400	$1.60	45d	1	0.91mi
217 W 36th St Savannah, GA	3.0	2.0	1950	$3,200	$1.64	45d	1	0.91mi
513 E 33rd St Savannah, GA	4.0	3.0	1800	$3,399	$1.89	15d	1	0.92mi
1107 E 38th St Savannah, GA	3.0	2.0	1500	$2,400	$1.60	45d	1	0.92mi
219 W 36th St Savannah, GA	3.0	2.0	1950	$3,200	$1.64	45d	1	0.92mi
1302 E Victory Dr Unit 2 Savannah, GA	3.0	1.5	1600	$1,995	$1.25	45d	1	0.98mi
1723 Whitaker St Savannah, GA	3.0	1.5	1845	$1,800	$0.98	45d	1	0.99mi
1331 E 48th St Savannah, GA	3.0	2.0	1408	$3,450	$2.45	45d	1	0.99mi
916 E 35th St Savannah, GA	4.0	2.0	1630	$2,700	$1.66	25d	1	1.01mi

Listing history 33 events

1. 2026-06-21
   days on market $380,000 Active 155 DOM
2. 2026-06-18
   days on market $380,000 Active 152 DOM
3. 2026-06-17
   days on market $380,000 Active 151 DOM
4. 2026-06-16
   days on market $380,000 Active 150 DOM
5. 2026-06-15
   days on market $380,000 Active 149 DOM
6. 2026-06-14
   days on market $380,000 Active 147 DOM
7. 2026-06-13
   days on market $380,000 Active 146 DOM
8. 2026-06-10
   days on market $380,000 Active 144 DOM
9. 2026-06-09
   days on market $380,000 Active 143 DOM
10. 2026-06-08
    days on market $380,000 Active 142 DOM
11. 2026-06-07
    days on market $380,000 Active 141 DOM
12. 2026-06-05
    days on market $380,000 Active 138 DOM
13. 2026-06-03
    days on market $380,000 Active 137 DOM
14. 2026-06-02
    days on market $380,000 Active 136 DOM
15. 2026-06-01
    days on market $380,000 Active 135 DOM
16. 2026-05-31
    days on market $380,000 Active 134 DOM
17. 2026-05-30
    days on market $380,000 Active 133 DOM
18. 2026-04-23
    price $390,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

19. 2026-04-23
    price $390,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

20. 2026-03-21
    price $425,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

21. 2026-03-21
    price $425,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

22. 2026-02-28
    price $435,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

23. 2026-02-28
    price $435,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

24. 2026-02-12
    price $440,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

25. 2026-02-12
    price $440,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

26. 2026-02-06
    price $445,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

27. 2026-02-06
    price $445,000 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

28. 2026-01-21
    listed $450,000 Active 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

29. 2026-01-17
    listed $450,000 Active 265-char remark

    Show marketing remark (265 chars)

    This property hold endless potential to become the home of your dreams with an unbeatable location! With a large floor plan and lot in the Ardsley Park neighborhood, this is a once in a life time opportunity to restore a historic property and make it one of a kind!

30. 2025-04-16
    soldstatus $390,000
31. 2025-04-10
    soldstatus $390,000 Sold
32. 2024-11-13
    status Under Contract
33. 2024-11-07
    listed $450,000 New

ⓘ 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: $1,945 · $162/mo
• Projected year-2 tax: $3,496 · $291/mo
• Expected delta: +$1,551/yr (+$129/mo · 79.8%)

ⓘ 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 1/10 Low
• 🌡 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: $32,834
• − Mortgage interest: −$21,286
• − Property taxes: −$1,945
• − Insurance: −$1,900
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − Depreciation: −$11,055
• Taxable loss: −$8,605
• Est. tax savings @ 24.0%: +$2,065
• After-tax cash flow: $246/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

-13.3% since first listed

16 events — show timeline

• 2026-04-23 Price Changed $390,000 Hive MLS
• 2026-04-23 Price Changed $390,000 Hive MLS
• 2026-03-21 Price Changed $425,000 Hive MLS
• 2026-03-21 Price Changed $425,000 Hive MLS
• 2026-02-28 Price Changed $435,000 Hive MLS
• 2026-02-28 Price Changed $435,000 Hive MLS
• 2026-02-12 Price Changed $440,000 Hive MLS
• 2026-02-12 Price Changed $440,000 Hive MLS
• 2026-02-06 Price Changed $445,000 Hive MLS
• 2026-02-06 Price Changed $445,000 Hive MLS
• 2026-01-21 Listed $450,000 Hive MLS
• 2026-01-17 Listed $450,000 Hive MLS
• 2025-04-16 Sold (Public Records) $390,000 Public Records
• 2025-04-10 Sold (MLS) $390,000 GAMLS
• 2024-11-13 Pending — GAMLS
• 2024-11-07 Listed $450,000 GAMLS

Property tax history

+2.2%/yr

Latest (2025): $1,945 · -0.6% YoY. Source: county tax records.