Historic Victorian
For Sale
$575,000
218 W Anderson Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,202 SF
Lot Size0.08 Acres
Price / SF$261.13
Days on Market51
Property Features for 218 W Anderson Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
TN-1
Zoning description
Multi Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking features
Garage, Off Street
Exterior features
Balcony, Courtyard
Fencing
Fenced
Fireplace
1
Appliances
Some Gas Appliances, Dryer, Dishwasher, Electric Water Heater, Freezer, Oven, Range, Refrigerator, Washer
Directions
Either Traveling South or North on MLK Jr. Blvd, turn East on W. Anderson St. Anderson is a one-way street. Must approach from West side of downtown. Park along Anderson Street.
Standard status
Active
APN
2005228014
Size
2,202 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
LT 111 GUE WD
Legal Description
LT 111 GUE WD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
courtyard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Wood Siding
Roof type
Composition
Architectural style
Victorian
Listing Agency:
Jenny Rutherford Real Estate,
(912) 388-2828
Listed By:
Jennifer L. Rutherford · License #343627
(912) 414-7155
Added: Jul 15
Changed: Sep 3
Last Checked: Sep 3 at 11:06AM
MLS# SA359887
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 1900, this 2,202-square-foot Victorian duplex contains two residential units with a combined five bedrooms and two bathrooms. The upper unit includes three bedrooms and one bathroom, along with updated kitchen and bathroom areas, stainless steel appliances, and a gas cooking range. Both units feature vinyl flooring, central heating and cooling, and access to a shared fenced courtyard.
The property occupies 0.0795 acres at 218 W Anderson Street in Savannah. Entrances are available from Anderson Street and the courtyard, which connects to gated parking access in the lane. Two off-street parking spaces are included, along with rear stairs and decks. The property is within walking distance of SCAD buildings and Forsyth Park, with Broughton Street and Savannah’s Historic District approximately a 10-minute walk away. TN-1 zoning, public water, and public sewer are also in place.
The property occupies 0.0795 acres at 218 W Anderson Street in Savannah. Entrances are available from Anderson Street and the courtyard, which connects to gated parking access in the lane. Two off-street parking spaces are included, along with rear stairs and decks. The property is within walking distance of SCAD buildings and Forsyth Park, with Broughton Street and Savannah’s Historic District approximately a 10-minute walk away. TN-1 zoning, public water, and public sewer are also in place.
Key Highlights
- 2,202‑square‑foot Victorian duplex built in 1900
- Two residential units with five bedrooms and two bathrooms
- Upper unit includes three bedrooms, an updated kitchen and bathroom, and stainless steel appliances
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
$23,348
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
4.06%
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%
$466,960
$467.0K
Cap Rate 7%
$333,543
$333.5K
Cap Rate 9%
$259,422
$259.4K
Market Conditions
NOI Build-Up for 2,202 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
$35.7K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.4K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.3K $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%
$466,960
Cap Rate 7%
$333,543
Cap Rate 9%
$259,422
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.9K – $389.1K
NOI $23,348 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$309.3K
$270.7K – $360.9K
NOI $21,652 @ 7.0% cap · market cap 3.77%
Theoretical Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,054 @ 7.0% cap · market cap 25.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,699
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?
Duplex - Two-unit income property with a courtyard, gated access, and off-street parking near Savannah’s historic core.
Where is this duplex located?
The property is located at 218 W Anderson Street Savannah, GA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,202‑square‑foot Victorian duplex built in 1900; Two residential units with five bedrooms and two bathrooms; Upper unit includes three bedrooms, an updated kitchen and bathroom, and stainless steel appliances
