Renovated Duplex with
For Sale
$379,900
1106 E 53rd St, Savannah, GA 31404
Two updated residences share a backyard and offer off-street parking for tenants or owner-occupants.
Property Size1,562 SF
Price / SF$243.21
Days on Market14
Property Features for 1106 E 53rd St
General Information
Standard status
Active
Size
1,562 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
off-street parking
shared backyard
Building Details
Year Built
1944
Listing Agency:
Seaport Real Estate Group
Listed By:
Ben J. Bluemle · License #339518
(912) 202-2042
Source:
Bradberrygarnerrealestate
Added: Sep 14
Last Checked: Sep 26 at 11:19AM
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 renovated duplex contains 1,562 square feet arranged as two separate residences, with each side offering two bedrooms and one bathroom. Updated interior finishes support a lower-maintenance ownership experience, while the shared backyard adds usable outdoor space. Off-street parking is also included.
Built in 1944, the property is located at 1106 E 53rd St in Savannah, Georgia. Its two-unit layout accommodates an owner-occupant who wants to live in one residence while leasing the other, or an investor seeking a residential income property. The combination of refreshed interiors, private living areas, shared outdoor space, and on-site parking creates a practical duplex configuration.
Built in 1944, the property is located at 1106 E 53rd St in Savannah, Georgia. Its two-unit layout accommodates an owner-occupant who wants to live in one residence while leasing the other, or an investor seeking a residential income property. The combination of refreshed interiors, private living areas, shared outdoor space, and on-site parking creates a practical duplex configuration.
Key Highlights
- Two‑unit duplex with 1,562 square feet
- Each side includes 2 bedrooms and 1 bathroom
- Renovated interiors with updated 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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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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
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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 - Two updated residences share a backyard and offer off-street parking for tenants or owner-occupants.
Where is this duplex located?
The property is located at 1106 E 53rd St 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: Two‑unit duplex with 1,562 square feet; Each side includes 2 bedrooms and 1 bathroom; Renovated interiors with updated finishes
