Renovated Two-Unit
New
For Sale
$379,900
1106 E 53rd Street, Savannah, GA 31404
MULTI_FAMILY - Savannah, GA
Property Size1,562 SF
Lot Size0.14 Acres
Price / SF$243.21
Days on Market2
Property Features for 1106 E 53rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RIP
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Off Street
Fencing
Fenced
Appliances
Electric Water Heater
Subdivision
Edgemere Sub
Directions
north of waters ave ; right on 53rd St
Standard status
Active
APN
2009704002
Size
1,562 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 2 EDGEMERE SUB WILKINS WARD
Tax Annual Amount
2274
Legal Description
LOT 2 EDGEMERE SUB WILKINS WARD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
off-street parking
shared backyard
Building Details
Year built
1944
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
Seaport Real Estate Group
(912) 202-2042
Listed By:
Ben J. Bluemle · License #339518
(912) 202-2042
Added: Aug 13
Last Checked: Aug 14 at 5:06AM
MLS# SA362089
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.
This renovated brick duplex contains 1,562 square feet arranged as two residential units. Each side provides two bedrooms and one bathroom, with updated interiors and modern finishes. Central air conditioning and electric heating support year-round comfort, while an electric water heater serves the property.
The property occupies 0.14 acres at 1106 E 53rd Street in Savannah, Georgia 31404. Off-street parking and a fenced shared backyard add practical outdoor amenities. Public water and public sewer are in place, and the property is zoned RIP. Built in 1944, the duplex offers a compact two-unit configuration suited to residential income use or an owner-occupant arrangement.
The property occupies 0.14 acres at 1106 E 53rd Street in Savannah, Georgia 31404. Off-street parking and a fenced shared backyard add practical outdoor amenities. Public water and public sewer are in place, and the property is zoned RIP. Built in 1944, the duplex offers a compact two-unit configuration suited to residential income use or an owner-occupant arrangement.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per side
- 1,562 square feet on a 0.14‑acre parcel
- Renovated interiors with 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
549
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 - Brick duplex with updated interiors, off-street parking, and a fenced 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: Two‑unit duplex with 2 bedrooms and 1 bathroom per side; 1,562 square feet on a 0.14‑acre parcel; Renovated interiors with modern finishes
