1605 Grove St · Savannah, GA 31401

$210,000

2 bd · 1.5 ba · 1,048 sqft · SingleFamily public records · 89 Days on market

Built 1920 2,500 sqft lot $200/sqft · 36% below area Est $330k · 36% 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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.5/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath Folk Victorian featuring timeless architectural character and original details throughout. This early 20th-century home showcases a classic front-gabled façade, welcoming covered front porch, and original staircase that reflects its historic roots. Home was updated in 2022 and has served as a rental property. Home has a large fenced in backyard. Investment Opportunity to restore and add value while owning a piece of Savannah history. Conveniently located near walking distance to The Laundry Diner and Perc Coffee Shop.

Key facts

• Covered front porch
• Original staircase
• 2,500 sq ft lot

Tags

• COVERED FRONT PORCH
• ORIGINAL STAIRCASE
• LARGE FENCED IN BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/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 $200k (4.6% below list).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (+3.0%/yr); 333 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); 58% 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 $2,004/mo this rent would consume 46% of the median local household income ($53k/yr) (locally 2031% 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 $6k 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 89 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $116k; list at $210k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 0.95% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.55%
• DSCR: 1.16
• GRM: 8.7

CMA / ARV

• ARV (median comp): $330,065
• List price: $210,000
• Delta: -36.38%
• 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
643 E 32nd St	0.15mi	2/2.5	1,178 (+12%)	3mo	$384,000	$326	66
825 E 34th St	0.17mi	2/1.0	1,190 (+14%)	2mo	$180,000	$151	66
2015 Reynolds St	0.30mi	3/2.0 (+1)	1,125 (+7%)	2mo	$341,250	$303	65
1804 Cedar St	0.56mi	3/1.0 (+1)	1,051 (+0%)	3mo	$190,000	$181	64
412 E 41st St	0.64mi	2/1.0	1,076 (+3%)	1mo	$389,000	$362	63
1126 E Waldburg St	0.54mi	2/1.0	1,119 (+7%)	1mo	$235,000	$210	61
1317 E 39th St	0.73mi	2/1.0	1,036 (-1%)	2mo	$207,000	$200	61
1224 E Waldburg St	0.62mi	2/1.0	993 (-5%)	2mo	$230,000	$232	59
822 E 37th St	0.28mi	3/2.0 (+1)	1,180 (+13%)	4mo	$189,000	$160	56
315 E Park Ave	0.53mi	3/2.0 (+1)	1,152 (+10%)	2mo	$720,000	$625	50
1401 NE 36th St	0.69mi	2/1.0	940 (-10%)	2mo	$210,000	$223	46
2403 Harmon St	0.47mi	1/1.0 (-1)	1,195 (+14%)	2mo	$530,000	$444	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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-23,047
• Equity at exit: $31,312

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-6,199
• Equity at exit: $18,157

Cash invested: $58,800 (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 31401

• Rents YoY: 3.0%
• Active inventory: 333
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$220 /mo · $2,645/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $174

Break-even live

Break-even rent $1,784

Max offer price $210,000

Occupancy floor 86%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 E Henry St Unit A Savannah, GA	3.0	2.0	1199	$2,150	$1.79	23d	1	0.14mi
1714 Le Grand St Unit B Savannah, GA	3.0	2.0	1300	$2,700	$2.08	44d	1	0.16mi
1615 Le Grand St Savannah, GA	2.0	2.0	1307	$2,400	$1.84	23d	1	0.17mi
836 E Anderson St Unit A Savannah, GA	2.0	1.5	1215	$1,950	$1.60	14d	1	0.17mi
1709 Le Grand St Unit 1709 Savannah, GA	2.0	1.0	1080	$1,595	$1.48	44d	1	0.18mi
637 E Anderson St Unit A Savannah, GA	2.0	1.0	850	$1,850	$2.18	44d	1	0.18mi
637 E Anderson St Unit B Savannah, GA	2.0	1.0	850	$1,700	$2.00	44d	1	0.18mi
637 E Anderson St Savannah, GA	1.0	1.0	705	$1,575	$2.23	14d	1	0.18mi
637 E Anderson St Unit D Savannah, GA	2.0	1.0	850	$1,450	$1.71	44d	1	0.18mi
702 E Henry St Unit B Savannah, GA	2.0	1.0	750	$1,800	$2.40	14d	1	0.19mi
1606 Reynolds St Savannah, GA	3.0	2.0	1222	$1,800	$1.47	44d	1	0.19mi
643 E Henry St Unit B Savannah, GA	3.0	1.5	1207	$1,899	$1.57	23d	1	0.20mi
825 E 35th St Savannah, GA	2.0	2.0	1302	$1,200	$0.92	14d	1	0.20mi
1509 Ott St Savannah, GA	3.0	1.5	1263	$1,900	$1.50	44d	1	0.21mi
914 E 34th St Unit 916 Savannah, GA	3.0	1.0	935	$1,995	$2.13	23d	1	0.23mi
826 E Duffy St Unit A Savannah, GA	3.0	2.0	1445	$1,850	$1.28	44d	1	0.25mi
602 E 34th St Savannah, GA	3.0	2.0	1185	$2,095	$1.77	44d	1	0.28mi
613 E Duffy Ln Unit A Savannah, GA	2.0	2.0	1066	$1,950	$1.83	14d	1	0.30mi
810 E Park Ave Unit B Savannah, GA	3.0	2.0	1100	$2,700	$2.45	44d	1	0.30mi
609 E Duffy Ln Unit A Savannah, GA	2.0	2.0	1200	$1,950	$1.62	44d	1	0.31mi
530 E 35th St Unit B Savannah, GA	1.0	1.0	950	$1,695	$1.78	21d	1	0.32mi
616 E Duffy St Savannah, GA	2.0	2.0	860	$2,500	$2.91	14d	1	0.32mi
614 E Duffy St Savannah, GA	2.0	2.0	817	$1,800	$2.20	14d	1	0.32mi
900 E Park Ave Savannah, GA	3.0	2.0	1450	$1,975	$1.36	44d	1	0.32mi
1110 E 31st St Unit B Savannah, GA	2.0	1.0	1200	$1,625	$1.35	44d	1	0.33mi
762 E Waldburg St Savannah, GA	2.0	1.0	700	$1,650	$2.36	23d	1	0.34mi
512 E 33rd St Unit 1244808P Savannah, GA	2.0	2.0	990	$3,196	$3.23	14d	1	0.36mi
1114 E Anderson St Unit A Savannah, GA	2.0	2.0	1374	$1,800	$1.31	44d	1	0.37mi
921 E Waldburg St Apt B Savannah, GA	2.0	2.0	1300	$2,400	$1.85	14d	1	0.38mi
1118 NE 36th St Savannah, GA	3.0	2.0	1200	$2,000	$1.67	44d	1	0.40mi
424 E 32nd St Unit 426 Savannah, GA	3.0	1.5	1350	$2,380	$1.76	44d	1	0.40mi
421 E Anderson St Savannah, GA	1.0	1.0	1000	$1,600	$1.60	44d	1	0.41mi
507 E Duffy St Savannah, GA	2.0	1.0	1284	$2,000	$1.56	44d	1	0.42mi
532 E Park Ave Savannah, GA	1.0	1.0	1010	$2,900	$2.87	44d	1	0.42mi
1212 Price St Unit A Savannah, GA	2.0	1.0	900	$2,600	$2.89	44d	1	0.42mi
813 Paulsen St Savannah, GA	1.0	1.0	700	$1,050	$1.50	44d	1	0.42mi
801 E 39th St Savannah, GA	2.0	1.0	1344	$1,700	$1.26	23d	1	0.42mi
1207 E Anderson St Unit B Savannah, GA	2.0	1.0	1000	$1,640	$1.64	23d	1	0.43mi
904 E 39th St Savannah, GA	3.0	1.0	1200	$2,300	$1.92	44d	1	0.44mi
1203 E Henry St Savannah, GA	2.0	1.0	916	$1,475	$1.61	44d	1	0.44mi

Listing history 15 events

1. 2026-06-02
   days on market $210,000 Active 89 DOM
2. 2026-06-01
   days on market $210,000 Active 88 DOM
3. 2026-05-31
   days on market $210,000 Active 87 DOM
4. 2026-05-30
   days on market $210,000 Active 86 DOM
5. 2026-04-01
   price $210,000 557-char remark

   Show marketing remark (557 chars)

   Charming 2-bedroom, 1-bath Folk Victorian featuring timeless architectural character and original details throughout. This early 20th-century home showcases a classic front-gabled façade, welcoming covered front porch, and original staircase that reflects its historic roots. Home was updated in 2022 and has served as a rental property. Home has a large fenced in backyard. Investment Opportunity to restore and add value while owning a piece of Savannah history. Conveniently located near walking distance to The Laundry Diner and Perc Coffee Shop.

6. 2026-03-05
   listed $220,000 Active 557-char remark

   Show marketing remark (557 chars)

   Charming 2-bedroom, 1-bath Folk Victorian featuring timeless architectural character and original details throughout. This early 20th-century home showcases a classic front-gabled façade, welcoming covered front porch, and original staircase that reflects its historic roots. Home was updated in 2022 and has served as a rental property. Home has a large fenced in backyard. Investment Opportunity to restore and add value while owning a piece of Savannah history. Conveniently located near walking distance to The Laundry Diner and Perc Coffee Shop.

7. 2021-09-02
   soldstatus $115,500
8. 2021-08-27
   soldstatus $115,500 755-char remark

   Show marketing remark (755 chars)

   This is an incredible opportunity to get your hands on a cosmetic rehab in Savannah's EXPLODING eastisde neighborhood. Savvy investors are buying up a lot of property in the blocks bounded by E Broad, Paulsen, Anderson, and 37th because of the walking-distance proximity to the chic Starland district and most of SCAD's academic buildings and because a lot of the real estate here is still CHEAP. These properties won't be cheap for long though - take a drive around the block and you'll see countless recently renovated homes and in-progress renovations. There are nearby comps that support a $200k+ ARV and recently renovated 2/1 units within a 3 block radius are renting as high as $1800/mo. Get into this market before out-of-town money boxes you out!

9. 2021-07-30
   listed $120,000 755-char remark

   Show marketing remark (755 chars)

   This is an incredible opportunity to get your hands on a cosmetic rehab in Savannah's EXPLODING eastisde neighborhood. Savvy investors are buying up a lot of property in the blocks bounded by E Broad, Paulsen, Anderson, and 37th because of the walking-distance proximity to the chic Starland district and most of SCAD's academic buildings and because a lot of the real estate here is still CHEAP. These properties won't be cheap for long though - take a drive around the block and you'll see countless recently renovated homes and in-progress renovations. There are nearby comps that support a $200k+ ARV and recently renovated 2/1 units within a 3 block radius are renting as high as $1800/mo. Get into this market before out-of-town money boxes you out!

10. 2011-03-01
    historical
11. 2011-02-08
    soldstatus $11,600
12. 2010-12-17
    listed $19,999
13. 2010-08-30
    listed $34,000
14. 2005-04-08
    soldstatus $27,500
15. 2000-01-04
    soldstatus $34,612

ⓘ 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: $2,645 · $220/mo
• Projected year-2 tax: $2,645 · $220/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,048
• − Mortgage interest: −$11,763
• − Property taxes: −$2,645
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$6,109
• Taxable loss: −$1,368
• Est. tax savings @ 24.0%: +$328
• After-tax cash flow: $2,415/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): 20,445
• Household income: $52,509
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 2031.0

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 0.59)
• Race & ethnicity: White 53% Black 35% Hispanic / Latino 7% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Chinese 2% Other Indo-European 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: ▼ -358.74%
• Current HPI: 553.5645
• Rent YoY: ▲ 2.95%
• 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

+506.7% since first listed

11 events — show timeline

• 2026-04-01 Price Changed $210,000 Hive MLS
• 2026-03-05 Listed $220,000 Hive MLS
• 2021-09-02 Sold (Public Records) $115,500 Public Records
• 2021-08-27 Sold (MLS) $115,500 Hive MLS
• 2021-07-30 Listed $120,000 Hive MLS
• 2011-03-01 Listing Removed — Hive MLS
• 2011-02-08 Sold (MLS) $11,600 Hive MLS
• 2010-12-17 Listed $19,999 Hive MLS
• 2010-08-30 Listed $34,000 Hive MLS
• 2005-04-08 Sold (Public Records) $27,500 Public Records
• 2000-01-04 Sold (Public Records) $34,612 Public Records

Property tax history

+18.9%/yr

Latest (2025): $2,645 · -5.8% YoY. Source: county tax records.