Renovated Duplex with Open
For Sale
$395,000
1208 E 55th Street, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size1,862 SF
Lot Size0.14 Acres
Price / SF$212.14
Days on Market67
Property Features for 1208 E 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Fencing
Fenced, Chain Link
Appliances
Some Electric Appliances, Dishwasher, Electric Water Heater, Oven, Plumbed For Ice Maker, Range, Refrigerator
Subdivision
Edgemere Sub
Lot features
City Lot, Interior Lot
Directions
From Martin Luther King Jr Blvd, turn left onto W Victory Dr, turn right onto Waters Ave and left onto E 55th Street. Home will be on the left.
Standard status
Active
APN
2009715017
Size
1,862 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1O5 EDGEMERE SUB WILKINS WARD
Tax Annual Amount
1254
Legal Description
LOT 1O5 EDGEMERE SUB WILKINS WARD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Flooring type
Vinyl
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
Southern Charm Team, LLC
(912) 657-3569
Listed By:
Susie Sowell · License #350017
(912) 657-3569
Added: Jun 25
Changed: Aug 27
Last Checked: Aug 30 at 8:06AM
MLS# SA359062
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Savannah duplex contains 1,862 square feet across two residential units on a 0.1446-acre lot. Renovations include a new roof, replacement windows, updated electrical service, new vinyl flooring, cabinetry, remodeled bathrooms, and granite countertops. Both units offer bright, open interiors with kitchens that include center islands. Additional features include central electric cooling, electric central and heat-pump heating, ceiling fans, porches, and fenced chain-link boundaries.
Built in 1940 and zoned R4, the property is served by public water and public sewer, with cable available. The residence at 1208 E 55th Street is minutes from Historic Downtown Savannah, shopping, dining, hospitals, parks, and major roadways. Appliances include ranges, refrigerators, dishwashers, electric water heaters, and ice-maker plumbing.
Built in 1940 and zoned R4, the property is served by public water and public sewer, with cable available. The residence at 1208 E 55th Street is minutes from Historic Downtown Savannah, shopping, dining, hospitals, parks, and major roadways. Appliances include ranges, refrigerators, dishwashers, electric water heaters, and ice-maker plumbing.
Key Highlights
- Duplex with 1,862 square feet of total property size
- 0.1446‑acre lot in Savannah, GA 31404
- Extensive updates include roof, windows, electrical service, flooring, cabinetry, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,743
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$394,860
$394.9K
Cap Rate 7%
$282,043
$282.0K
Cap Rate 9%
$219,367
$219.4K
Market Conditions
NOI Build-Up for 1,862 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.2K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$28.2K $15.15/SF
− OpEx
−$8.5K −$4.54/SF
NOI
$19.7K $10.60/SF
Area
Savannah, GA
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$394,860
Cap Rate 7%
$282,043
Cap Rate 9%
$219,367
Alternative Uses
Best Use
Multifamily LT 5
$282.0K
$246.8K – $329.1K
NOI $19,743 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$261.6K
$228.9K – $305.2K
NOI $18,309 @ 7.0% cap · market cap 4.64%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,811 @ 7.0% cap · market cap 30.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature updated kitchens with islands and granite countertops.
Where is this duplex located?
The property is located at 1208 E 55th Street Savannah, GA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Duplex with 1,862 square feet of total property size; 0.1446‑acre lot in Savannah, GA 31404; Extensive updates include roof, windows, electrical service, flooring, cabinetry, and bathrooms
