Now, here’s the disclaimers: Savannah is SO block to block, really it’s impossible to really make a map like this. This is intended for general guidance only. Same thing goes for my ARV comp data and market rent to sale price ratios – this is block to block, and really property to property as well. Please use this information in your initial deal screening, but be sure to do more due diligence before you actually decide to purchase – or give me a call!
There really has not been too much commercial development in the Live Oak area over the last ten years. There is a newer whole foods nearby, and a new 50-75 unit apartment building near Anderson and Waters, but the overall lack of development has been a bit disappointing. The city and federal government is pushing hard to bring in new development, and I think that as more young people with money move into the area developers will become more incentivized to build some retail and restaurant space for them to enjoy – and once those spaces are built they will attract more younger folks as a result. Check out this post to read more about the incredible tax advantages available to developers who develop real estate in this part of town!
Live Oak is on the up and up, and a lot of investors here in Savannah are pretty bullish on the area. The areas between Daffin Park and 40th St and south of Henry/Anderson to about 33rd st are actively being flipped, but the areas surrounding 37th st haven’t really caught on yet, estpecially east of Waters. Overall, the Live Oak neighborhood and the Eastside of Savannah in general is likely to continue to develop quickly as SCAD students, young professionals, and retirees chasing a lower cost of living move into the area.
I believe that as working from home catches on and becomes more permanent in the wake of COVID, Savannah will see more net immigration of young tech enabled workers looking to move out of the big and expensive north eastern cities into a town like Savannah with it’s low cost of living, gorgeous streets, history, and diversity in dining, shopping, and nightlife. Live Oak will continue to be a draw for the cost-conscious among that crowd.
Developers will begin to take advantage of Savannah’s tax advantaged zones in Live Oak as more money moves into the area, and that development in itself will draw in more money once complete. This will continue the upward pressure on rents and home prices. There was recently some demolition of a decrepit commercial building on Waters and 31st, there’s the new apartments in the old school on Waters and Anderson. I think the next big movement to really kick off growth will be when the first coffee shop/bodega space opens up along Waters, most likely between Park and 31st – at least that’s what I’d be doing if I had the money. This might also happen near Paulson and Anderson, or both. I anticipate this to happen within the next 1-2 years.
It is for these reasons that I like BRRRR deals in the Live Oak neighborhood. Why fix and sell real estate here when we believe there will be so much growth? I know that I personally would prefer to hold onto real estate here, and that is in fact what I’m doing with my own money. Of course, when it comes to single family homes it often makes more sense to flip, it all depends on the numbers!
Want to talk specifics with me about real estate investing in this part of Savannah? Shoot me an email at email@example.com and I’ll get you on my calendar as soon as possible!