Updated Duplex with Front
For Sale
$759,900
44 E 55th Street, Savannah, GA 31405
MULTI_FAMILY - Savannah, GA
Property Size3,250 SF
Price / SF$233.82
Days on Market32
Property Features for 44 E 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 3, Bedroom 4, Bedroom 1
Standard status
Active
Size
3,250 SF
Amenities
front porches
off-street parking
screened porch
Building Details
Year built
1921
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Robert Evangelista · License #432196
Added: Jul 17
Changed: Aug 13
Last Checked: Aug 17 at 8:06PM
MLS# SA358850
Copyright © 2026 Engel & Völkers. 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 1921, this 3,250-square-foot duplex contains two three-bedroom residences. Both units feature hardwood flooring and front porches, with rear off-street parking serving the property. The residences are currently occupied by tenants, providing an established rental configuration.
Recent improvements include a new roof, newer central air systems, a new HVAC system in Unit 46, and a screened porch addition for Unit 44. Additional work includes renovated kitchen and laundry areas, a bathroom renovation in Unit 44, new rear stairs, updated concrete front steps, fresh interior paint, and replacement floor vents. Unit 44 also received a new washer and dryer, while Unit 46 received a new refrigerator and dishwasher. The property is located in Savannah’s Ardsley Park historic neighborhood.
Recent improvements include a new roof, newer central air systems, a new HVAC system in Unit 46, and a screened porch addition for Unit 44. Additional work includes renovated kitchen and laundry areas, a bathroom renovation in Unit 44, new rear stairs, updated concrete front steps, fresh interior paint, and replacement floor vents. Unit 44 also received a new washer and dryer, while Unit 46 received a new refrigerator and dishwasher. The property is located in Savannah’s Ardsley Park historic neighborhood.
Key Highlights
- 3,250‑square‑foot duplex with two three‑bedroom residences
- Built in 1921 with hardwood floors and front porches
- Both units are currently tenant‑occupied
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
$34,459
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
4.53%
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%
$689,180
$689.2K
Cap Rate 7%
$492,271
$492.3K
Cap Rate 9%
$382,878
$382.9K
Market Conditions
NOI Build-Up for 3,250 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
$52.7K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$49.2K $15.15/SF
− OpEx
−$14.8K −$4.54/SF
NOI
$34.5K $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%
$689,180
Cap Rate 7%
$492,271
Cap Rate 9%
$382,878
Alternative Uses
Best Use
Multifamily LT 5
$492.3K
$430.7K – $574.3K
NOI $34,459 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$456.5K
$399.5K – $532.6K
NOI $31,957 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$3.04M
$2.66M – $3.54M
NOI $212,613 @ 7.0% cap · market cap 27.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
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 tenant-occupied residences include rear off-street parking and recent improvements to roofing, HVAC, kitchens, and baths.
Where is this duplex located?
The property is located at 44 E 55th Street Savannah, GA.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: 3,250‑square‑foot duplex with two three‑bedroom residences; Built in 1921 with hardwood floors and front porches; Both units are currently tenant‑occupied
