Renovated
New
For Sale
$299,000
1016 E 38th Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size1,440 SF
Lot Size0.06 Acres
Price / SF$207.64
Days on Market5
Property Features for 1016 E 38th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
Parking features
Off Street
Patio and Porch features
Porch
Fencing
Fenced, Privacy, Chain Link
Appliances
Some Electric Appliances, Electric Water Heater, Oven, Range
Subdivision
Harman Ward
Lot features
Interior Lot
Directions
Victory Drive to Waters Ave. west to 38th Street, then left and property is on the right.
Standard status
Active
APN
2006315016
Size
1,440 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 287 BLK 18 HARMON WD
Tax Annual Amount
1950
Legal Description
LOT 287 BLK 18 HARMON WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Roof type
Asphalt
Architectural style
Bungalow
Listing Agency:
Konter Realty Company
(912) 354-9314
Listed By:
Michelle L. Adams · License #360871
(912) 323-0646
Added: Oct 14
Changed: Oct 17
Last Checked: Oct 18 at 3:06PM
MLS# SA366449
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,440-square-foot duplex contains two separate one-bedroom, one-bathroom units. The downstairs residence has been renovated with luxury vinyl plank flooring, an updated tiled shower, and appliances. The upstairs unit is tenant-occupied. The property was built in 1921 and has a new HVAC system installed in 2/25 and a roof dating to 2023.
Set on a 0.0612-acre lot, the property is zoned R4. It has a porch, off-street parking, and fenced outdoor space. Public water and sewer serve the property.
Set on a 0.0612-acre lot, the property is zoned R4. It has a porch, off-street parking, and fenced outdoor space. Public water and sewer serve the property.
Key Highlights
- Two one‑bedroom, one‑bathroom units in 1,440 square feet
- Downstairs unit updated with LVP flooring, tiled shower, and appliances
- Upstairs unit is tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,268
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,360
$305.4K
Cap Rate 7%
$218,114
$218.1K
Cap Rate 9%
$169,644
$169.6K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$23.3K $16.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$21.8K $15.15/SF
− OpEx
−$6.5K −$4.54/SF
NOI
$15.3K $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 Rate 5%
$305,360
Cap Rate 7%
$218,114
Cap Rate 9%
$169,644
Alternative Uses
Best Use
Multifamily LT 5
$218.1K
$190.9K – $254.5K
NOI $15,268 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$202.3K
$177.0K – $236.0K
NOI $14,159 @ 7.0% cap · market cap 4.74%
Theoretical Best
Warehouse
$1.35M
$1.18M – $1.57M
NOI $94,204 @ 7.0% cap · market cap 31.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
584
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is tenant-occupied, while the other has been recently updated for occupancy.
Where is this duplex located?
The property is located at 1016 E 38th Street Savannah, GA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom units in 1,440 square feet; Downstairs unit updated with LVP flooring, tiled shower, and appliances; Upstairs unit is tenant‑occupied
