1010 E 38th St · Savannah, GA 31401

$80,000

2 bd · 1.0 ba · 824 sqft · SingleFamily public records · 5 Days on market

Built 1921 2,579 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investor Special. Looking to buy and invest in an area that HOT HOT HOT right now. This home has potential and is ready for your imagination to run wild. Quiet Title has been completed. Being sold AS-IS with no Disclosure or warranties. Bring a flash light and walk carefully.

Key facts

• 2,579 sq ft lot
• Built 1921
• Listed 5 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable service not available
• Home design: Single-family residence; One story
• Construction: Asbestos construction material
• Exterior features: Lot in R4 zoning

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: One full bathroom
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 17.7% 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); 50% 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 41% 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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1921 — 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 $80,000

Questions for the listing agent

1. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.24% ✓
• Cap rate: 17.74%
• Cash-on-cash: 40.90%
• DSCR: 2.82
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $243,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1017 E 37th St	0.07mi	2/1.0	879 (+7%)	2mo	$123,000	$140	84
1308 SE 36th St	0.33mi	2/1.0	832 (+1%)	6mo	$299,000	$359	78
1315 E 38th St	0.35mi	2/1.0	854 (+4%)	10mo	$252,000	$295	70
1016 Seiler Ave	0.05mi	2/1.5	928 (+13%)	10mo	$377,560	$407	66
1323 E 42nd St	0.41mi	2/1.0	780 (-5%)	7mo	$230,000	$295	66
1331 E 42nd St	0.44mi	2/1.0	910 (+10%)	4mo	$272,500	$299	58
705 E 32nd St	0.46mi	2/1.0	726 (-12%)	3mo	$197,000	$271	56
1401 NE 36th St	0.43mi	2/1.0	940 (+14%)	2mo	$210,000	$223	54
1226 E 48th St	0.57mi	2/1.0	868 (+5%)	13mo	$365,000	$421	54
712 E Anderson St	0.56mi	2/1.0	888 (+8%)	11mo	$155,000	$175	52
1407 E 33rd St	0.51mi	2/1.0	754 (-8%)	13mo	$245,000	$325	51
830 E Park Ave	0.67mi	2/1.0	933 (+13%)	14mo	$260,000	$279	35

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: 37.4%
• Equity multiple: 2.59×
• Total profit: $35,661
• Equity at exit: $11,928

10-year hold

• IRR: 44.0%
• Equity multiple: 5.18×
• Total profit: $93,660
• Equity at exit: $6,917

Cash invested: $22,400 (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 31401

• Rents YoY: 3.0%
• Active inventory: 333
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$420
• Tax from tax record: −$202 /mo · $2,422/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $763

Break-even live

Break-even rent $829

Max offer price $80,000

Occupancy floor 52%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 E 38th St Savannah, GA	2.0	1.0	1000	$1,595	$1.59	44d	1	0.19mi
1224 E 38th St Savannah, GA	2.0	1.0	798	$1,550	$1.94	44d	1	0.25mi
914 E 34th St Unit 916 Savannah, GA	3.0	1.0	935	$1,995	$2.13	23d	1	0.26mi
1220 E Victory Dr Savannah, GA	2.0	1.0	1000	$1,800	$1.80	44d	1	0.33mi
701 E 41st St Savannah, GA	1.0	1.0	850	$1,625	$1.91	44d	1	0.35mi
1226 E Victory Dr Apt 4 Savannah, GA	2.0	1.0	950	$1,675	$1.76	44d	1	0.35mi
736 E 45th St Unit 1 Savannah, GA	1.0	1.0	1000	$1,499	$1.50	14d	1	0.35mi
1326 E 38th St Savannah, GA	2.0	1.0	800	$1,600	$2.00	14d	1	0.36mi
1317 E 38th St Savannah, GA	1.0	1.0	750	$2,000	$2.67	44d	1	0.36mi
1303 E 33rd St Savannah, GA	2.0	1.0	561	$1,150	$2.05	14d	1	0.41mi
1305 E 32nd St Savannah, GA	2.0	1.0	832	$2,400	$2.88	14d	1	0.45mi
625 E 41st St Savannah, GA	2.0	1.0	1000	$2,500	$2.50	44d	1	0.47mi
1418 E 42nd St Unit 4 Savannah, GA	1.0	1.0	900	$1,250	$1.39	23d	1	0.48mi
704 E 32nd St Unit B Savannah, GA	1.0	1.0	550	$1,550	$2.82	23d	1	0.48mi
1418 E 42nd St Unit 1 Savannah, GA	1.0	1.0	800	$1,100	$1.38	44d	1	0.48mi
1418 E 42nd St Unit 2 Savannah, GA	1.0	1.0	800	$1,100	$1.38	23d	1	0.48mi
1207 E Anderson St Unit B Savannah, GA	2.0	1.0	1000	$1,640	$1.64	23d	1	0.48mi
1709 Le Grand St Unit 1709 Savannah, GA	2.0	1.0	1080	$1,595	$1.48	44d	1	0.49mi
1401 E 33rd St Savannah, GA	3.0	1.0	960	$1,650	$1.72	44d	1	0.49mi
533 E 38th St Savannah, GA	1.0	1.5	745	$1,500	$2.01	44d	1	0.52mi
1203 E Henry St Savannah, GA	2.0	1.0	916	$1,475	$1.61	44d	1	0.53mi
1315 E Anderson St Unit 1315 Savannah, GA	2.0	2.0	859	$1,500	$1.75	44d	1	0.55mi
530 E 35th St Unit B Savannah, GA	1.0	1.0	950	$1,695	$1.78	21d	1	0.56mi
1226 E Henry St Unit B Savannah, GA	2.0	1.0	882	$1,300	$1.47	44d	1	0.58mi
637 E Anderson St Unit B Savannah, GA	2.0	1.0	850	$1,700	$2.00	44d	1	0.59mi
637 E Anderson St Savannah, GA	1.0	1.0	705	$1,575	$2.23	14d	1	0.59mi
637 E Anderson St Unit D Savannah, GA	2.0	1.0	850	$1,450	$1.71	44d	1	0.59mi
637 E Anderson St Unit A Savannah, GA	2.0	1.0	850	$1,850	$2.18	44d	1	0.59mi
702 E Henry St Unit B Savannah, GA	2.0	1.0	750	$1,800	$2.40	14d	1	0.61mi
412 Seiler Ave Unit A Savannah, GA	1.0	1.0	651	$1,400	$2.15	44d	1	0.65mi
1203 Atlantic Ave Savannah, GA	1.0	1.0	550	$1,200	$2.18	14d	1	0.65mi
810 E Park Ave Unit B Savannah, GA	3.0	2.0	1100	$2,700	$2.45	44d	1	0.66mi
512 E 33rd St Unit 1244808P Savannah, GA	2.0	2.0	990	$3,196	$3.23	14d	1	0.67mi
1800 E 38th St Savannah, GA	2.0	1.0	846	$1,338	$1.58	44d	1	0.68mi
410 E Victory Dr Savannah, GA	1.0	1.0	588	$2,200	$3.74	23d	1	0.70mi
613 E Duffy Ln Unit A Savannah, GA	2.0	2.0	1066	$1,950	$1.83	14d	1	0.72mi
1716 Habersham St Apt 6 Savannah, GA	2.0	1.5	1100	$2,200	$2.00	21d	1	0.73mi
762 E Waldburg St Savannah, GA	2.0	1.0	700	$1,650	$2.36	23d	1	0.74mi
616 E Duffy St Savannah, GA	2.0	2.0	860	$2,500	$2.91	14d	1	0.75mi
614 E Duffy St Savannah, GA	2.0	2.0	817	$1,800	$2.20	14d	1	0.75mi

Listing history 4 events

1. 2026-06-07
   statusdays on market $80,000 Pending 5 DOM
2. 2026-06-05
   days on market $80,000 Active 2 DOM
3. 2026-06-03
   remarks 276-char remark
4. 2026-06-03
   listed $80,000 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: $2,422 · $202/mo
• Projected year-2 tax: $2,422 · $202/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 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: $21,542
• − Mortgage interest: −$4,481
• − Property taxes: −$2,422
• − Insurance: −$400
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$2,327
• Taxable income: $8,464
• Est. tax owed @ 24.0%: −$2,031
• After-tax cash flow: $7,130/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

+14.4% since first listed

9 events — show timeline

• 2026-06-02 Listed $80,000 Hive MLS
• 2024-05-02 Listing Removed — Hive MLS
• 2024-05-02 Listing Removed — Hive MLS
• 2024-04-24 Listed $99,900 Hive MLS
• 2024-04-24 Listed $99,900 Hive MLS
• 2022-11-18 Listing Removed — Hive MLS
• 2022-11-18 Listing Removed — Hive MLS
• 2022-11-01 Listed $69,900 Hive MLS
• 2022-11-01 Listed $69,900 Hive MLS

Property tax history

+23.5%/yr

Latest (2025): $2,422 · +22.8% YoY. Source: county tax records.