Renovated Two-Unit
For Sale
$379,900
1106 E 53rd Street, Savannah, GA 31404
Two updated residential units offer flexible occupancy with off-street parking and a shared backyard.
Property Size1,562 SF
Price / SF$243.21
Days on Market18
Property Features for 1106 E 53rd Street
General Information
Standard status
Active
Size
1,562 SF
Property subtype
Multi Family Home
Zoning
RIP
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,274
Amenities
off-street parking
shared backyard
Building Details
Building Size
1,562 SF
Year Built
1944
Stories
1
Units
1
Listing Agency:
Seaport Real Estate Group
(912) 210-4767
Listed By:
Ben J. Bluemle · License #339518
(912) 210-4767
Source:
Frankerealproperties
Added: Aug 13
Changed: Aug 27
Last Checked: Aug 28 at 11:28AM
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 Seaport Real Estate Group
Investment Insights
Based on property information with market context.
This duplex at 1106 E 53rd Street in Savannah, GA 31404 contains 1,562 square feet and was built in 1944. The property has been renovated, with each side configured as a two-bedroom, one-bathroom residence featuring updated interiors and contemporary finishes.
Off-street parking and a shared backyard add practical outdoor and access features for the occupants. The property is zoned RIP and offers a two-unit residential configuration with separate sides within one building.
Off-street parking and a shared backyard add practical outdoor and access features for the occupants. The property is zoned RIP and offers a two-unit residential configuration with separate sides within one building.
Key Highlights
- 1,562‑square‑foot duplex at 1106 E 53rd Street, Savannah, GA 31404
- Each side includes 2 bedrooms and 1 bathroom
- Renovated property with updated interiors and modern finishes
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
$16,562
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
4.36%
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%
$331,240
$331.2K
Cap Rate 7%
$236,600
$236.6K
Cap Rate 9%
$184,022
$184.0K
Market Conditions
NOI Build-Up for 1,562 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
$25.3K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$23.7K $15.15/SF
− OpEx
−$7.1K −$4.54/SF
NOI
$16.6K $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%
$331,240
Cap Rate 7%
$236,600
Cap Rate 9%
$184,022
Alternative Uses
Best Use
Multifamily LT 5
$236.6K
$207.0K – $276.0K
NOI $16,562 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$219.4K
$192.0K – $256.0K
NOI $15,359 @ 7.0% cap · market cap 4.04%
Theoretical Best
Warehouse
$1.46M
$1.28M – $1.70M
NOI $102,185 @ 7.0% cap · market cap 26.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
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 updated residential units offer flexible occupancy with off-street parking and a shared backyard.
Where is this duplex located?
The property is located at 1106 E 53rd Street Savannah, GA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 1,562‑square‑foot duplex at 1106 E 53rd Street, Savannah, GA 31404; Each side includes 2 bedrooms and 1 bathroom; Renovated property with updated interiors and modern finishes
