Remodeled Duplex with Fenced
For Sale
$350,000
1024 W 39th St, Savannah, GA 31415
Completely remodeled duplex with two updated 2-bedroom, 1-bath units, each with central heat/air and a private fenced backyard.
Property Size1,728 SF
Price / SF$202.55
Days on Market66
Property Features for 1024 W 39th St
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
central heat and air
stainless steel appliances
washer and dryer
security system
private fenced backyard
Building Details
Year Built
1935
Listing Agency:
Keller Williams Coastal Area P
Listed By:
Berthenia M. Brown · License #395620
(912) 596-0017
Source:
Searchgreateraugustahomes
Added: Jul 4
Changed: Sep 1
Last Checked: Sep 7 at 10:17AM
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 Keller Williams Coastal Area P
Investment Insights
Based on property information with market context.
This completely remodeled duplex offers two updated units, each featuring 2 bedrooms and 1 bathroom. Both units include central heat and air, a spacious living room, an eat-in kitchen, fresh paint, and new LVP flooring. Kitchens come with stainless steel appliances, and each unit is equipped with a stove and refrigerator, plus washer and dryer. The property also includes a security system and a private fenced backyard for each unit.
The duplex is conveniently located just minutes from downtown and I-16, providing straightforward access for tenants and day-to-day commuting.
Each unit is separately appointed with matching upgrades and in-unit laundry, creating a clean, move-in-ready configuration for residential income use.
The duplex is conveniently located just minutes from downtown and I-16, providing straightforward access for tenants and day-to-day commuting.
Each unit is separately appointed with matching upgrades and in-unit laundry, creating a clean, move-in-ready configuration for residential income use.
Key Highlights
- Completely remodeled duplex with two updated units at 1024 W. 39th Street (year built 1935)
- Each unit offers 2 bedrooms and 1 bathroom
- Central heat and air in both units
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
$18,322
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
5.23%
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%
$366,440
$366.4K
Cap Rate 7%
$261,743
$261.7K
Cap Rate 9%
$203,578
$203.6K
Market Conditions
NOI Build-Up for 1,728 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
$28.0K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.2K $15.15/SF
− OpEx
−$7.9K −$4.54/SF
NOI
$18.3K $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%
$366,440
Cap Rate 7%
$261,743
Cap Rate 9%
$203,578
Alternative Uses
Best Use
Multifamily LT 5
$261.7K
$229.0K – $305.4K
NOI $18,322 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$242.7K
$212.4K – $283.2K
NOI $16,991 @ 7.0% cap · market cap 4.85%
Theoretical Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $113,045 @ 7.0% cap · market cap 32.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
505
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
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Frequently Asked Questions
What type of property is this?
Duplex - Completely remodeled duplex with two updated 2-bedroom, 1-bath units, each with central heat/air and a private fenced backyard.
Where is this duplex located?
The property is located at 1024 W 39th St Savannah, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Completely remodeled duplex with two updated units at 1024 W. 39th Street (year built 1935); Each unit offers 2 bedrooms and 1 bathroom; Central heat and air in both units
