Furnished Duplex with
For Sale
$499,900
2141 New York Avenue, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size1,644 SF
Lot Size0.12 Acres
Price / SF$304.08
Days on Market49
Property Features for 2141 New York Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Off Street
Exterior features
Courtyard
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, Gas Water Heater, Microwave, Oven, Range, Dryer, Refrigerator, Washer
Lot features
Corner Lot
Directions
From Harry S Truman Parkway, take the exit for E Anderson Street. Continue onto E 31st Street. Turn right onto Skidaway Road. Turn left onto Durant Avenue. Turn right onto Pennsylvania Avenue, and then left onto New York Avenue. The home is on your right.
Standard status
Active
APN
2006010007
Size
1,644 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
LOTS 2 AND 4 BLOCK 33 AVONDALE S UB MEYER WARD
Legal Description
LOTS 2 AND 4 BLOCK 33 AVONDALE S UB MEYER WARD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
in-unit laundry
private fenced courtyards
Building Details
Year built
1936
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Listing Agency:
Corcoran Austin Hill Realty
(912) 354-2100
Listed By:
Brent Sappe · License #420355
(478) 319-7254
Added: Jul 30
Changed: Sep 12
Last Checked: Sep 16 at 7:06AM
MLS# SA361582
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 1,644-square-foot duplex sits on a 0.12-acre corner lot and includes two furnished units, each with two bedrooms and one bathroom. One unit is occupied, while the other is vacant. Both residences feature updated kitchens and bathrooms, in-unit laundry, private fenced courtyards, and dedicated off-street parking. Appliances include refrigerators, ranges, ovens, microwaves, dishwashers, washers, and dryers. The property also has central heating and cooling, a fireplace, public water, and public sewer.
Built in 1936 and zoned R6, the duplex is positioned near SCAD, downtown Savannah, local hospitals, and Tybee Island. Its two-unit layout, separate outdoor areas, and existing residential improvements support continued multifamily use.
Built in 1936 and zoned R6, the duplex is positioned near SCAD, downtown Savannah, local hospitals, and Tybee Island. Its two-unit layout, separate outdoor areas, and existing residential improvements support continued multifamily use.
Key Highlights
- Two furnished 2‑bedroom, 1‑bath units; one is rented and one is vacant
- 1,644 square feet on a 0.12‑acre corner lot
- Updated kitchens and bathrooms with in‑unit laundry
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
$17,431
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
3.49%
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%
$348,620
$348.6K
Cap Rate 7%
$249,014
$249.0K
Cap Rate 9%
$193,678
$193.7K
Market Conditions
NOI Build-Up for 1,644 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
$26.6K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.9K $15.15/SF
− OpEx
−$7.5K −$4.54/SF
NOI
$17.4K $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%
$348,620
Cap Rate 7%
$249,014
Cap Rate 9%
$193,678
Alternative Uses
Best Use
Multifamily LT 5
$249.0K
$217.9K – $290.5K
NOI $17,431 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$230.9K
$202.1K – $269.4K
NOI $16,165 @ 7.0% cap · market cap 3.23%
Theoretical Best
Warehouse
$1.54M
$1.34M – $1.79M
NOI $107,550 @ 7.0% cap · market cap 21.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
342
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - R6-zoned duplex with updated interiors, private outdoor areas, and off-street parking in Savannah.
Where is this duplex located?
The property is located at 2141 New York Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two furnished 2‑bedroom, 1‑bath units; one is rented and one is vacant; 1,644 square feet on a 0.12‑acre corner lot; Updated kitchens and bathrooms with in‑unit laundry
