Historic Two-Unit
For Sale
$475,000
1021 E Bolton St, Savannah, GA 31401
Repainted two-unit property with a private balcony, fenced shared yard, and washer/dryer connections.
Property Size2,859 SF
Price / SF$166.14
Days on Market14
Property Features for 1021 E Bolton St
General Information
Standard status
Active
Size
2,859 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,800
Amenities
private balcony
washer/dryer connections
shared backyard
decorative fireplaces
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Six Bricks LLC
Listed By:
Chelsea Phillips · License #349197
(912) 356-5001
Source:
Augustaaikenhomefinder
Added: Sep 14
Changed: Sep 26
Last Checked: Sep 26 at 7:18AM
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 Six Bricks LLC
Investment Insights
Based on property information with market context.
Built in 1920, this 2,859-square-foot duplex contains two residential units, each configured with three bedrooms and two bathrooms. Both residences include full kitchens and washer/dryer connections. The upstairs unit adds a private balcony and three decorative fireplaces, while the lower unit includes two decorative fireplaces and can be adapted to provide four bedrooms. Hardwood flooring appears in the common areas, with carpeted bedrooms throughout the property.
Recent improvements include interior repainting and carpet cleaning. The property also offers a large shared backyard enclosed by fencing, with room for parking. Located at 1021 E Bolton St in Savannah, the duplex has a documented rental history with both units previously remaining occupied under prior ownership.
Recent improvements include interior repainting and carpet cleaning. The property also offers a large shared backyard enclosed by fencing, with room for parking. Located at 1021 E Bolton St in Savannah, the duplex has a documented rental history with both units previously remaining occupied under prior ownership.
Key Highlights
- Two‑unit duplex totaling 2,859 SF
- Each unit offers 3 bedrooms and 2 bathrooms
- Upstairs unit includes a private balcony and 3 decorative fireplaces
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
$30,314
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
6.38%
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%
$606,280
$606.3K
Cap Rate 7%
$433,057
$433.1K
Cap Rate 9%
$336,822
$336.8K
Market Conditions
NOI Build-Up for 2,859 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
$46.3K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.3K $15.15/SF
− OpEx
−$13.0K −$4.54/SF
NOI
$30.3K $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 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%
$606,280
Cap Rate 7%
$433,057
Cap Rate 9%
$336,822
Alternative Uses
Best Use
Multifamily LT 5
$433.1K
$378.9K – $505.2K
NOI $30,314 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$401.6K
$351.4K – $468.5K
NOI $28,112 @ 7.0% cap · market cap 5.92%
Theoretical Best
Warehouse
$2.67M
$2.34M – $3.12M
NOI $187,034 @ 7.0% cap · market cap 39.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Repainted two-unit property with a private balcony, fenced shared yard, and washer/dryer connections.
Where is this duplex located?
The property is located at 1021 E Bolton St 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 totaling 2,859 SF; Each unit offers 3 bedrooms and 2 bathrooms; Upstairs unit includes a private balcony and 3 decorative fireplaces
