Triplex With Carriage
For Sale
$359,000
928 W Victory Drive, Savannah, GA 31415
Residential Income, Savannah, GA
Property Size1,950 SF
Lot Size0.09 Acres
Price / SF$184.10
Days on Market202
Property Features for 928 W Victory Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4
Zoning description
Multi Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1
Parking features
Off Street, Garage, On Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Pull Down Attic Stairs
Fireplace
1
Appliances
Some Electric Appliances, Electric Water Heater
Subdivision
Cann Ward
Lot features
Alley, City Lot
Directions
From abercorn and victory turn left onto W Victory and the house is on your right
Standard status
Active
APN
2007339027
Size
1,950 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 52 CANN WARD
Tax Annual Amount
4286
Legal Description
LOT 52 CANN WARD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
3
Building materials
Brick, Block, Wood Siding
Roof type
Metal
Architectural style
Bungalow
Listing Agency:
Epique Realty
(888) 893-3537
Listed By:
Ed Yannett · License #349501
(912) 844-9000
Added: Feb 13
Changed: Sep 3
Last Checked: Sep 3 at 4:06PM
MLS# SA348813
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 928 W Victory Drive in Savannah, this 1,950-square-foot triplex combines a primary residence with a rear carriage house arranged as a duplex. The property contains three units on a 0.09-acre parcel, offering a compact multifamily configuration within an established residential setting. All three units are currently rented.
Built in 1960, the bungalow-style property features brick, block, and wood siding construction, a metal roof, central heating, and central air conditioning. Additional features include a porch, fireplace, ceiling fans, pull-down attic stairs, and a mix of off-street, garage, and on-street parking. The property is served by public water and public sewer and is zoned R4.
Built in 1960, the bungalow-style property features brick, block, and wood siding construction, a metal roof, central heating, and central air conditioning. Additional features include a porch, fireplace, ceiling fans, pull-down attic stairs, and a mix of off-street, garage, and on-street parking. The property is served by public water and public sewer and is zoned R4.
Key Highlights
- Three‑unit configuration with a primary residence and rear carriage house duplex
- All three units are currently rented
- 1,950 square feet on a 0.09‑acre parcel
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
$20,676
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
5.76%
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%
$413,520
$413.5K
Cap Rate 7%
$295,371
$295.4K
Cap Rate 9%
$229,733
$229.7K
Market Conditions
NOI Build-Up for 1,950 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
$31.6K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$29.5K $15.15/SF
− OpEx
−$8.9K −$4.54/SF
NOI
$20.7K $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%
$413,520
Cap Rate 7%
$295,371
Cap Rate 9%
$229,733
Alternative Uses
Best Use
Multifamily LT 5
$295.4K
$258.5K – $344.6K
NOI $20,676 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$273.9K
$239.7K – $319.6K
NOI $19,174 @ 7.0% cap · market cap 5.34%
Theoretical Best
Warehouse
$1.82M
$1.59M – $2.13M
NOI $127,568 @ 7.0% cap · market cap 35.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 31415, GA
11,034
Population
5,591
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
79%
High-School Grad
6.6 sq mi
ZIP Area
1,672
Density / Sq Mi
$37,890
Median Household Income
$28,229
Median Earnings
$973
Median Rent
$112,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R4-zoned property with three leased units, including a rear carriage house duplex and a primary residence.
Where is this triplex located?
The property is located at 928 W Victory Drive Savannah, GA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Three‑unit configuration with a primary residence and rear carriage house duplex; All three units are currently rented; 1,950 square feet on a 0.09‑acre parcel
