Duplex with Detached Carriage
For Sale
$359,000
Pending
1001 41st Street, Savannah, GA 31401
All-brick main home plus detached 1-bedroom carriage home sits on a large corner lot and is sold as-is.
Property Size1,938 SF
Days on Market255
Property Features for 1001 41st Street
General Information
Standard status
Pending
Size
1,938 SF
Property subtype
Ranch
Taxes and HOA fees
Annual Taxes
$2,948
Amenities
Central Air, Electric, Gas
3
Brick
Asphalt
Brick Wall, Privacy Fence, Fenced Yard
Porch, Patio, Screened-in
Fenced Yard.
2 Garage Spaces.
Brick, Asphalt
Building Details
Year Built
1930
Stories
2
Listing Agency:
Re/Max 1st Choice Realty
(912) 826-1000
Listed By:
Tara Robinson · License #302905
(912) 713-6648
Source:
Xome
Added: Dec 18, 2025
Changed: Aug 12
Last Checked: Aug 29 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Re/Max 1st Choice Realty
Investment Insights
Based on property information with market context.
This property is configured as two separate living units on one parcel. The main all-brick residence features 3 bedrooms and 1 full bath. A detached carriage home adds a 1-bedroom, 1-bath layout located above a 2-car garage. Both units are currently rented, and the property is sold as-is.
The home is situated on a large corner lot in Savannah’s Baldwin Park neighborhood. The setup provides a straightforward multifamily arrangement with an additional detached unit for flexible rental or dual-use possibilities.
The property includes the main brick residence and an attached-by-parcel detached carriage home over a 2-car garage, with each unit operating independently on the same lot.
The home is situated on a large corner lot in Savannah’s Baldwin Park neighborhood. The setup provides a straightforward multifamily arrangement with an additional detached unit for flexible rental or dual-use possibilities.
The property includes the main brick residence and an attached-by-parcel detached carriage home over a 2-car garage, with each unit operating independently on the same lot.
Key Highlights
- All‑brick main residence with 3 bedrooms and 1 full bath plus a detached 1‑bedroom carriage home
- Two separate living units on one parcel; both units are currently rented
- Detached carriage home includes a 2‑car garage
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
$20,548
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
5.72%
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%
$410,960
$411.0K
Cap Rate 7%
$293,543
$293.5K
Cap Rate 9%
$228,311
$228.3K
Market Conditions
NOI Build-Up for 1,938 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
$31.4K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$29.4K $15.15/SF
− OpEx
−$8.8K −$4.54/SF
NOI
$20.5K $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%
$410,960
Cap Rate 7%
$293,543
Cap Rate 9%
$228,311
Alternative Uses
Best Use
Multifamily LT 5
$293.5K
$256.9K – $342.5K
NOI $20,548 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$272.2K
$238.2K – $317.6K
NOI $19,056 @ 7.0% cap · market cap 5.31%
Theoretical Best
Warehouse
$1.81M
$1.58M – $2.11M
NOI $126,783 @ 7.0% cap · market cap 35.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
566
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - All-brick main home plus detached 1-bedroom carriage home sits on a large corner lot and is sold as-is.
Where is this duplex located?
The property is located at 1001 41st Street 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: All‑brick main residence with 3 bedrooms and 1 full bath plus a detached 1‑bedroom carriage home; Two separate living units on one parcel; both units are currently rented; Detached carriage home includes a 2‑car garage
