Updated Triplex with Carriage
For Sale
$849,900
829 E 34th Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size4,605 SF
Lot Size0.08 Acres
Price / SF$184.56
Days on Market49
Property Features for 829 E 34th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Half bathrooms
1
Rooms
Bathroom 5, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 4
Parking features
On Street
Exterior features
Balcony
Fencing
Privacy, Fenced
Appliances
Electric Water Heater, Gas Water Heater
Directions
Head West on Victory from the Truman Pkwy, Right Harmon, Left 34th. Property is on the corner of Harmon and 34th.
Standard status
Active
APN
2005530001
Size
4,605 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 82 AND EAST 10 FEET OF LOT 81 GRAYSON WARD
Tax Annual Amount
5489
Legal Description
LOT 82 AND EAST 10 FEET OF LOT 81 GRAYSON WARD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
private laundry facilities
outdoor space
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Tile, Wood
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Kristin Brown · License #301485
(912) 844-2579
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 6 at 1:06AM
MLS# SA360847
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 4,605-square-foot triplex includes two residences in the main building and a separate carriage house apartment. The lower-level residence offers three bedrooms and two bathrooms, while the upper unit has three bedrooms and one-and-a-half bathrooms. The carriage house adds a one-bedroom, one-bath apartment above ground-level storage. All three residences are occupied, and each includes private laundry access and outdoor space. Tile and wood flooring, central air, electric heating, public water, and public sewer are among the property features.
Built in 1900 on a 0.0836-acre lot, the property is zoned R4 and has on-street parking with fenced privacy features. Its Savannah setting is near Downtown, the Starland District, SCAD, area hospitals, shopping, dining, and Tybee Island beaches.
Built in 1900 on a 0.0836-acre lot, the property is zoned R4 and has on-street parking with fenced privacy features. Its Savannah setting is near Downtown, the Starland District, SCAD, area hospitals, shopping, dining, and Tybee Island beaches.
Key Highlights
- Fully occupied triplex with three residences
- 4,605 square feet on a 0.0836‑acre lot
- Main building includes 3‑bedroom and 3‑bedroom residences
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
$48,826
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
5.74%
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%
$976,520
$976.5K
Cap Rate 7%
$697,514
$697.5K
Cap Rate 9%
$542,511
$542.5K
Market Conditions
NOI Build-Up for 4,605 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
$74.6K $16.20/SF
− Vacancy
−$4.8K −$1.05/SF
EGI
$69.8K $15.15/SF
− OpEx
−$20.9K −$4.54/SF
NOI
$48.8K $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%
$976,520
Cap Rate 7%
$697,514
Cap Rate 9%
$542,511
Alternative Uses
Best Use
Multifamily LT 5
$697.5K
$610.3K – $813.8K
NOI $48,826 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$646.9K
$566.0K – $754.7K
NOI $45,280 @ 7.0% cap · market cap 5.33%
Theoretical Best
Warehouse
$4.30M
$3.77M – $5.02M
NOI $301,257 @ 7.0% cap · market cap 35.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
610
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 - Fully occupied three-unit property with private laundry, outdoor areas, and a separate apartment above storage.
Where is this triplex located?
The property is located at 829 E 34th Street Savannah, GA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Fully occupied triplex with three residences; 4,605 square feet on a 0.0836‑acre lot; Main building includes 3‑bedroom and 3‑bedroom residences
