Updated Duplex Near
For Sale
$799,000
1404 Jones Avenue, Tybee Island, GA 31328
Residential Income, Tybee Island, GA
Property Size2,140 SF
Lot Size0.09 Acres
Price / SF$373.36
Days on Market255
Property Features for 1404 Jones Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 2
Parking features
Underground/Basement
Appliances
Some Electric Appliances, Dryer, Dishwasher, Electric Water Heater, Disposal, Microwave, Oven, Plumbed For Ice Maker, Range, Refrigerator, Self Cleaning Oven, Washer
Directions
Hwy. 80 to Tybee. Right on Jones Ave. House is on the left in the 1400 block of Jones.
Standard status
Active
APN
4000719002
Size
2,140 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 81A WARD 4 TYBEE
Tax Annual Amount
7743
Legal Description
LOT 81A WARD 4 TYBEE
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Building materials
Frame
Architectural style
Other
Listing Agency:
Century 21 Solomon Properties · Century 21 Real Estate
(912) 786-5466
Listed By:
Lee Ann Marsh · License #245551
(912) 631-1032
Added: Jan 20
Changed: Sep 30
Last Checked: Oct 2 at 9:06AM
MLS# SA347244
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 R2-zoned duplex combines a three-bedroom, two-bath primary residence with a separate one-bedroom, one-bath apartment. The 2,140-square-foot property sits on 0.09 acres and was built in 1991, with recent renovations, frame construction, and furnished interiors. Three sliding glass doors connect the main living area with the front porch, while the property includes a range of household appliances, central air, electric baseboard heat, public water, and public sewer.
The property is located three blocks from the beach in Tybee Island, with restaurants, bars, shopping, and entertainment within walking distance. Underground/basement parking is included, and cable service is available. The two-residence configuration supports a range of residential and income-producing arrangements without sacrificing proximity to the island’s beach and commercial activity.
The property is located three blocks from the beach in Tybee Island, with restaurants, bars, shopping, and entertainment within walking distance. Underground/basement parking is included, and cable service is available. The two-residence configuration supports a range of residential and income-producing arrangements without sacrificing proximity to the island’s beach and commercial activity.
Key Highlights
- Duplex with a 3‑bedroom, 2‑bath primary residence and 1‑bedroom, 1‑bath apartment
- 2,140 square feet on a 0.09‑acre lot
- Three blocks from the beach in Tybee Island
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
$22,690
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
2.84%
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%
$453,800
$453.8K
Cap Rate 7%
$324,143
$324.1K
Cap Rate 9%
$252,111
$252.1K
Market Conditions
NOI Build-Up for 2,140 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
$34.7K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.4K $15.15/SF
− OpEx
−$9.7K −$4.54/SF
NOI
$22.7K $10.60/SF
Area
Chatham County, 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%
$453,800
Cap Rate 7%
$324,143
Cap Rate 9%
$252,111
Alternative Uses
Best Use
Multifamily LT 5
$324.1K
$283.6K – $378.2K
NOI $22,690 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$300.6K
$263.0K – $350.7K
NOI $21,042 @ 7.0% cap · market cap 2.63%
Theoretical Best
Warehouse
$2.00M
$1.75M – $2.33M
NOI $139,998 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 31328, GA
3,430
Population
3,490
Households
1
Avg Household Size
60
Median Age
49%
College-Educated
97%
High-School Grad
9.2 sq mi
ZIP Area
373
Density / Sq Mi
$105,669
Median Household Income
$42,280
Median Earnings
$1,205
Median Rent
$615,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 distinct living spaces offer flexibility for residential occupancy or income-producing use.
Where is this duplex located?
The property is located at 1404 Jones Avenue Tybee Island, GA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Duplex with a 3‑bedroom, 2‑bath primary residence and 1‑bedroom, 1‑bath apartment; 2,140 square feet on a 0.09‑acre lot; Three blocks from the beach in Tybee Island
