Duplex with Hardwood
For Sale
$475,000
1016 E Bolton Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,208 SF
Lot Size0.08 Acres
Price / SF$215.13
Days on Market140
Property Features for 1016 E Bolton Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
On Street
Patio and Porch features
Porch
Fireplace
1
Appliances
Dishwasher, Electric Water Heater, Oven, Range, Refrigerator, Washer
Subdivision
KELLY WARD
Lot features
City Lot
Directions
Take Waters Avenue to Bolton and make a left. The duplex is on your right. GPS friendly.
Standard status
Active
APN
2-0042-03-006
Size
2,208 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
LOT LETTER A SUB OF LOTS 19, 20,
Legal Description
LOT LETTER A SUB OF LOTS 19, 20,
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1927
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Wood Siding
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Heather Murphy · License #277893
(912) 398-6368
Added: Apr 13
Changed: Aug 20
Last Checked: Aug 30 at 6:06AM
MLS# SA353134
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 1016 E. Bolton Street in Savannah, this duplex contains two mirrored residences, each with three bedrooms and one full bathroom. The property provides 2,208 square feet of living area, with hardwood flooring throughout both units and a porch serving the property. Wood siding, a 1927 construction date, central heating and cooling, and electric service round out the building profile. Each residence includes a kitchen equipped with an oven, range, refrigerator, dishwasher, and washer.
The property is positioned near Historic Downtown Savannah, SCAD, hospitals, parks, restaurants, shopping, and the Truman Parkway. Public water and public sewer serve the property, while on-street parking is provided. The two-unit layout supports either separate occupancy or an owner-occupancy arrangement with rental use in the other residence.
The property is positioned near Historic Downtown Savannah, SCAD, hospitals, parks, restaurants, shopping, and the Truman Parkway. Public water and public sewer serve the property, while on-street parking is provided. The two-unit layout supports either separate occupancy or an owner-occupancy arrangement with rental use in the other residence.
Key Highlights
- Two‑unit duplex with 2,208 square feet of living area
- Each unit includes 3 bedrooms and 1 full bathroom
- Mirrored floor plans with hardwood flooring throughout both 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
$23,411
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
4.93%
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%
$468,220
$468.2K
Cap Rate 7%
$334,443
$334.4K
Cap Rate 9%
$260,122
$260.1K
Market Conditions
NOI Build-Up for 2,208 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
$35.8K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.4K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.4K $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%
$468,220
Cap Rate 7%
$334,443
Cap Rate 9%
$260,122
Alternative Uses
Best Use
Multifamily LT 5
$334.4K
$292.6K – $390.2K
NOI $23,411 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$310.2K
$271.4K – $361.9K
NOI $21,711 @ 7.0% cap · market cap 4.57%
Theoretical Best
Warehouse
$2.06M
$1.81M – $2.41M
NOI $144,446 @ 7.0% cap · market cap 30.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
488
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?
Duplex - Two mirrored residences offer owner-occupancy flexibility and separate rental potential in a walkable Savannah setting.
Where is this duplex located?
The property is located at 1016 E Bolton Street Savannah, GA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,208 square feet of living area; Each unit includes 3 bedrooms and 1 full bathroom; Mirrored floor plans with hardwood flooring throughout both residences
