Updated Duplex With Efficiency
For Sale
$340,000
2301 Alaska Street, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size1,451 SF
Lot Size0.15 Acres
Price / SF$234.32
Days on Market201
Property Features for 2301 Alaska Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2
Parking features
Off Street
Fencing
Fenced
Appliances
Electric Water Heater
Subdivision
Avon Park
Directions
From victory Drive take a right north on Skidaway Drive. Take right on Pennsylvania Avenue take right on Alaska Street. The home will be on your right on the 1200 block.
Standard status
Active
APN
2005818014
Size
1,451 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT A RECOMBINATION OF LOTS 19, 20 & 21 AVON PARK
Tax Annual Amount
4660
Legal Description
LOT A RECOMBINATION OF LOTS 19, 20 & 21 AVON PARK
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1912
Floors in Building
1
Number of units
1
Building materials
Wood Siding
Architectural style
Other
Listing Agency:
Century 21 Solomon Properties · Century 21 Real Estate
(912) 786-5466
Listed By:
Joel Solomon · License #349031
(912) 604-0896
Added: Feb 12
Changed: Aug 19
Last Checked: Sep 1 at 10:06AM
MLS# SA348994
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.
Located at 2301 Alaska Street in Savannah, this duplex combines a three-bedroom, one-bath main residence with an attached one-bedroom, one-bath efficiency unit. The primary home has received new flooring, fresh interior paint, and comprehensive interior updates. The secondary unit adds a separate living area that can support rental use, guests, a home office, or multigenerational occupancy.
The property occupies a 0.1465-acre lot with a fenced yard and off-street parking. Built in 1912, it has wood siding, central heating, central air, electric service, a public water supply, and public sewer. R4 zoning is in place. The address is approximately 5 minutes from Historic Downtown Savannah and 15 minutes from Tybee Island beaches, with shopping, dining, employment, and entertainment destinations nearby.
The property occupies a 0.1465-acre lot with a fenced yard and off-street parking. Built in 1912, it has wood siding, central heating, central air, electric service, a public water supply, and public sewer. R4 zoning is in place. The address is approximately 5 minutes from Historic Downtown Savannah and 15 minutes from Tybee Island beaches, with shopping, dining, employment, and entertainment destinations nearby.
Key Highlights
- Main residence includes 3 bedrooms and 1 full bathroom
- Attached efficiency unit provides 1 bedroom and 1 bathroom
- 0.1465‑acre fenced lot with off‑street parking
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
$15,385
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
4.52%
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%
$307,700
$307.7K
Cap Rate 7%
$219,786
$219.8K
Cap Rate 9%
$170,944
$170.9K
Market Conditions
NOI Build-Up for 1,451 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
$23.5K $16.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$22.0K $15.15/SF
− OpEx
−$6.6K −$4.54/SF
NOI
$15.4K $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%
$307,700
Cap Rate 7%
$219,786
Cap Rate 9%
$170,944
Alternative Uses
Best Use
Multifamily LT 5
$219.8K
$192.3K – $256.4K
NOI $15,385 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$203.8K
$178.4K – $237.8K
NOI $14,268 @ 7.0% cap · market cap 4.20%
Theoretical Best
Warehouse
$1.36M
$1.19M – $1.58M
NOI $94,924 @ 7.0% cap · market cap 27.92%
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
266
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 separate living areas support residential flexibility, guest accommodations, or rental use within a fenced Savannah property.
Where is this duplex located?
The property is located at 2301 Alaska Street Savannah, GA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Main residence includes 3 bedrooms and 1 full bathroom; Attached efficiency unit provides 1 bedroom and 1 bathroom; 0.1465‑acre fenced lot with off‑street parking
