Victorian Triplex with
For Sale
Under Contract
$749,000
1902 Barnard Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size5,217 SF
Lot Size0.05 Acres
Price / SF$143.57
Days on Market55
Property Features for 1902 Barnard Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
TN-2
Zoning description
Mixed use, Multi Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2
Parking features
On Street
Patio and Porch features
Deck, Porch, Patio
Interior features
Fireplace
Exterior features
Balcony, Courtyard, Deck
Fencing
Fenced
Fireplace
1
Appliances
Dishwasher, Electric Water Heater, Oven, Range, Refrigerator, Washer
Lot features
Corner Lot, City Lot
Directions
Barnard at West 35th Street.
Standard status
Active Under Contract
APN
2-0065-07-016
Size
5,217 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
LOT A,B & C SUB OF LOT 25 ESTILL WARD
Legal Description
LOT A,B & C SUB OF LOT 25 ESTILL WARD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
front porch
private balcony
courtyard
Building Details
Year built
1906
Floors in Building
3
Number of units
3
Flooring type
Tile, Wood, Hardwood
Building materials
Block, Concrete, Stone
Roof type
Composition, Metal
Architectural style
Victorian
Listing Agency:
McIntosh Realty Team LLC
(912) 436-6551
Listed By:
Sarah Sullivan · License #419783
(912) 346-7109
Added: Jul 15
Changed: Sep 7
Last Checked: Sep 7 at 1:06PM
MLS# SA360698
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.
Built in 1906, this three-unit Victorian property occupies a corner lot at 1902 Barnard Street in Savannah. The 5217-square-foot building includes hardwood and tile flooring, high ceilings, fireplaces, central HVAC, and a mix of private outdoor areas including a front porch, balcony, deck, and courtyard. Newer HVAC systems, roof work, and porch improvements are among the completed updates.
Two units are leased, while the third provides additional occupancy flexibility. TN-2 zoning supports long-term rental, owner-occupied short-term vacation rental, and various commercial uses as described. The property is near Forsyth Park, SCAD, Foxy Loxy Cafe, and the Starland dining and shopping district. Public water and sewer serve the property, with on-street parking available.
Two units are leased, while the third provides additional occupancy flexibility. TN-2 zoning supports long-term rental, owner-occupied short-term vacation rental, and various commercial uses as described. The property is near Forsyth Park, SCAD, Foxy Loxy Cafe, and the Starland dining and shopping district. Public water and sewer serve the property, with on-street parking available.
Key Highlights
- Three‑unit Victorian property built in 1906
- 5217 square feet on 0.05 acres
- TN‑2 zoning supports rental, STVR, and commercial use options
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
$55,315
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
7.39%
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%
$1,106,300
$1.1M
Cap Rate 7%
$790,214
$790.2K
Cap Rate 9%
$614,611
$614.6K
Market Conditions
NOI Build-Up for 5,217 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
$84.5K $16.20/SF
− Vacancy
−$5.5K −$1.05/SF
EGI
$79.0K $15.15/SF
− OpEx
−$23.7K −$4.54/SF
NOI
$55.3K $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%
$1,106,300
Cap Rate 7%
$790,214
Cap Rate 9%
$614,611
Alternative Uses
Best Use
Multifamily LT 5
$790.2K
$691.4K – $921.9K
NOI $55,315 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$732.8K
$641.2K – $855.0K
NOI $51,298 @ 7.0% cap · market cap 6.85%
Theoretical Best
Warehouse
$4.88M
$4.27M – $5.69M
NOI $341,294 @ 7.0% cap · market cap 45.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,757
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
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?
Triplex - TN-2 zoning supports rental, STVR, and commercial use options.
Where is this triplex located?
The property is located at 1902 Barnard Street Savannah, GA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three‑unit Victorian property built in 1906; 5217 square feet on 0.05 acres; TN‑2 zoning supports rental, STVR, and commercial use options
