1809 Georgia Ave · Savannah, GA 31404

$154,500

2 bd · 1.0 ba · 885 sqft · SingleFamily public records · 39 Days on market

Built 1939 4,356 sqft lot $175/sqft · 38% below area Est $250k · 38% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.4/10.0
• Livability +4.3/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Great 2 Bedroom 1 Bath Bungalow home is minutes from Downtown Savannah, the Islands, and the Beach, quick access to the Truman Parkway, providing easy travel to schools, shopping, dining, and entertainment throughout Savannah. With this location the property makes an excellent primary residence or investment opportunity.

Key facts

• Bungalow home
• 4,356 sq ft lot
• Built 1939

Tags

• BUNGALOW HOME
• MINUTES FROM DOWNTOWN SAVANNAH
• EASY TRAVEL TO SCHOOLS
• EASY TRAVEL TO SHOPPING
• EASY TRAVEL TO DINING
• EASY TRAVEL TO ENTERTAINMENT

Property features AI

Finance

• Other: Zoned R6
• HOA & community: Sidewalks

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; 220V electric; Cable available
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Front porch; Back yard; City lot; Interior lot; Private lot; Asphalt road access; Publicly maintained road

Interior

• Kitchen: Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Other laundry connection

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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); 228 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).
• This rent runs 36% of the median local income ($53k/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 39 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $154k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $149,865 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1939 — 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: 1.04% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.24%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (median comp): $250,189
• List price: $154,500
• Delta: -38.25%
• 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
2412 New York Ave	0.30mi	3/1.0 (+1)	866 (-2%)	2mo	$251,150	$290	76
2411 Alabama Ave	0.24mi	2/1.0	820 (-7%)	4mo	$216,000	$263	74
1918 Delaware Ave	0.14mi	2/1.0	952 (+8%)	10mo	$280,000	$294	73
2409 E 37th St	0.25mi	2/1.0	948 (+7%)	7mo	$298,000	$314	71
2017 Vermont Ave	0.34mi	3/2.0 (+1)	904 (+2%)	2mo	$230,000	$254	70
2229 E Gwinnett St	0.54mi	2/1.0	912 (+3%)	8mo	$219,900	$241	63
2151 Mississippi Ave	0.39mi	2/1.0	984 (+11%)	2mo	$235,500	$239	62
2018 Bolling St	0.62mi	2/1.0	914 (+3%)	6mo	$120,000	$131	61
2026 California Ave	0.51mi	3/1.0 (+1)	880 (-1%)	13mo	$280,000	$318	60
2220 E 38th St	0.24mi	3/1.5 (+1)	978 (+10%)	8mo	$317,500	$325	57
2303 E 42nd St	0.47mi	2/1.0	756 (-15%)	6mo	$235,000	$311	49
2231 E Gwinnett St	0.54mi	3/2.0 (+1)	996 (+12%)	3mo	$238,256	$239	43

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-9,688
• Equity at exit: $23,036

10-year hold

• IRR: 4.4%
• Equity multiple: 1.33×
• Total profit: $14,254
• Equity at exit: $13,358

Cash invested: $43,260 (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: 228
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,609 high
• Mortgage (P&I): −$810
• Tax from tax record: −$172 /mo · $2,059/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $225

Break-even live

Break-even rent $1,324

Max offer price $154,500

Occupancy floor 81%

Sensitivity live

Price	-10% $312	-5% $269	+0% $225	+5% $181	+10% $137
Rent	-10% $98	-5% $161	+0% $225	+5% $289	+10% $352
Rate	-1.0pp $303	-0.5pp $264	base $225	+0.5pp $185	+1.0pp $144

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: $38,625
• Closing costs: $4,635
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Altman Cir Savannah, GA	2.0	2.0	879	$1,750	$1.99	45d	1	0.06mi
2141 New York Ave Unit A Savannah, GA	2.0	1.0	765	$1,750	$2.29	45d	1	0.30mi
2010 Vermont Ave Savannah, GA	2.0	1.0	892	$1,690	$1.89	45d	1	0.35mi
2328 E 41st St Savannah, GA	2.0	1.0	1072	$1,700	$1.59	45d	1	0.39mi
2201 Mississippi Ave Savannah, GA	2.0	1.0	1005	$1,595	$1.59	45d	1	0.40mi
1110 New Jersey Ave Savannah, GA	2.0	1.0	714	$1,500	$2.10	45d	1	0.41mi
2220 E Victory Dr #24 Savannah, GA	2.0	1.5	1102	$1,700	$1.54	25d	1	0.52mi
2323 Downing Ave Savannah, GA	2.0–3.0	1.5–2.0	1014	$1,299	$1.28	16d	14	0.60mi
1901 Kingstown Dr Savannah, GA	1.0	1.0	615	$1,150	$1.87	45d	1	0.62mi
1812 E 39th St Savannah, GA	1.0	1.0	629	$1,150	$1.83	25d	1	0.75mi
2102 Auburn St Savannah, GA	3.0	1.0	828	$1,795	$2.17	45d	1	0.86mi
1800 E 38th St Savannah, GA	2.0	1.0	846	$1,338	$1.58	45d	1	0.93mi
1611 E Henry St Unit 1/2 A Savannah, GA	2.0	2.0	688	$1,300	$1.89	25d	1	0.93mi
2611 Dogwood Ave Savannah, GA	2.0	1.0	822	$1,700	$2.07	25d	1	0.96mi
2612 Dogwood Ave Savannah, GA	1.0–3.0	1.0–2.0	1020	$1,522	$1.49	16d	11	0.98mi
2002 E 51st St Unit Labs Savannah, GA	3.0	1.0	1044	$1,680	$1.61	45d	1	1.03mi
2840 Wicklow St Savannah, GA	1.0–3.0	1.0–2.0	1071	$2,370	$2.21	16d	50	1.03mi
1904 E 51st St Unit 1 Savannah, GA	1.0	1.0	600	$1,000	$1.67	16d	1	1.08mi
3608 Duane Ct Savannah, GA	2.0	1.0	975	$1,095	$1.12	25d	1	1.10mi
3608 Duane Ct Unit C Savannah, GA	2.0	1.0	975	$1,095	$1.12	45d	1	1.10mi
2800 Capital St Savannah, GA	1.0–3.0	1.0	980	$1,412	$1.44	45d	1	1.14mi
1401 E 33rd St Savannah, GA	3.0	1.0	960	$1,650	$1.72	45d	1	1.19mi
3650 Duane Ct Apt A Savannah, GA	2.0	1.0	850	$1,150	$1.35	25d	1	1.22mi
1418 E 42nd St Unit 1 Savannah, GA	1.0	1.0	800	$1,100	$1.38	45d	1	1.22mi
1418 E 42nd St Unit 2 Savannah, GA	1.0	1.0	800	$1,100	$1.38	25d	1	1.22mi
1418 E 42nd St Unit 4 Savannah, GA	1.0	1.0	900	$1,250	$1.39	25d	1	1.22mi
1326 E 38th St Savannah, GA	2.0	1.0	800	$1,600	$2.00	16d	1	1.25mi
1317 E 38th St Savannah, GA	1.0	1.0	750	$2,000	$2.67	45d	1	1.26mi
3222 Bee Rd Savannah, GA	2.0	1.0	900	$1,195	$1.33	16d	1	1.27mi
1315 E Anderson St Unit 1315 Savannah, GA	2.0	2.0	859	$1,500	$1.75	45d	1	1.29mi
1305 E 32nd St Savannah, GA	2.0	1.0	832	$2,400	$2.88	16d	1	1.30mi
1303 E 33rd St Savannah, GA	2.0	1.0	561	$1,150	$2.05	16d	1	1.30mi
16 Helmken St Savannah, GA	3.0	1.0	924	$1,850	$2.00	16d	1	1.36mi
1224 E 38th St Savannah, GA	2.0	1.0	798	$1,550	$1.94	45d	1	1.37mi
1506 E 50th St Savannah, GA	1.0	1.0	600	$1,700	$2.83	45d	1	1.38mi
1226 E Henry St Unit B Savannah, GA	2.0	1.0	882	$1,300	$1.47	45d	1	1.39mi
2217 Beech St Savannah, GA	2.0	1.0	959	$1,850	$1.93	25d	1	1.41mi
1226 E Victory Dr Apt 4 Savannah, GA	2.0	1.0	950	$1,675	$1.76	45d	1	1.41mi
2211 Beech St Savannah, GA	2.0	1.0	800	$1,595	$1.99	45d	1	1.41mi
1205 E 38th St Savannah, GA	2.0	1.0	1000	$1,595	$1.59	45d	1	1.42mi

Listing history 23 events

1. 2026-06-21
   pricedays on market $154,500 Active 39 DOM
2. 2026-06-18
   days on market $158,500 Active 36 DOM
3. 2026-06-17
   days on market $158,500 Active 35 DOM
4. 2026-06-16
   days on market $158,500 Active 34 DOM
5. 2026-06-15
   pricedays on market $158,500 Active 33 DOM
6. 2026-06-14
   days on market $159,500 Active 31 DOM
7. 2026-06-13
   pricedays on market $159,500 Active 30 DOM
8. 2026-06-10
   days on market $163,500 Active 28 DOM
9. 2026-06-09
   days on market $163,500 Active 27 DOM
10. 2026-06-08
    days on market $163,500 Active 26 DOM
11. 2026-06-07
    pricedays on market $163,500 Active 25 DOM
12. 2026-06-05
    pricedays on market $164,500 Active 22 DOM
13. 2026-06-03
    days on market $165,500 Active 21 DOM
14. 2026-06-03
    price $165,500 Active 20 DOM
15. 2026-06-02
    pricedays on market $166,500 Active 20 DOM
16. 2026-06-01
    days on market $167,500 Active 19 DOM
17. 2026-05-31
    days on market $167,500 Active 18 DOM
18. 2026-05-30
    days on market $167,500 Active 17 DOM
19. 2026-05-18
    price $179,000 322-char remark
20. 2026-05-12
    listed $184,000 Active 322-char remark
21. 2026-03-31
    soldstatus $80,000
22. 2010-09-12
    historical
23. 2010-03-13
    listed $48,900

ⓘ 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: $2,059 · $172/mo
• Projected year-2 tax: $2,059 · $172/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $19,308
• − Mortgage interest: −$8,654
• − Property taxes: −$2,059
• − Insurance: −$772
• − Repairs & maintenance: −$1,545
• − Management: −$1,545
• − Depreciation: −$4,495
• Taxable income: $238
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $2,642/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

+224.1% since first listed

16 events — show timeline

• 2026-06-14 Price Changed $158,500 Hive MLS
• 2026-06-12 Price Changed $159,500 Hive MLS
• 2026-06-10 Price Changed $162,500 Hive MLS
• 2026-06-06 Price Changed $163,500 Hive MLS
• 2026-06-04 Price Changed $164,500 Hive MLS
• 2026-06-02 Price Changed $165,500 Hive MLS
• 2026-06-01 Price Changed $166,500 Hive MLS
• 2026-05-28 Price Changed $167,500 Hive MLS
• 2026-05-27 Price Changed $168,500 Hive MLS
• 2026-05-25 Price Changed $169,500 Hive MLS
• 2026-05-20 Price Changed $174,500 Hive MLS
• 2026-05-18 Price Changed $179,000 Hive MLS
• 2026-05-12 Listed $184,000 Hive MLS
• 2026-03-31 Sold (Public Records) $80,000 Public Records
• 2010-09-12 Listing Removed — Hive MLS
• 2010-03-13 Listed $48,900 Hive MLS

Property tax history

+18.0%/yr

Latest (2025): $2,059 · +137.0% YoY. Source: county tax records.