Renovated Duplex with Private
For Sale
$639,000
1107-1105 E 32nd St, Savannah, GA 31404
Two three-bedroom units feature updated systems and high-end interior finishes.
Property Size2,489 SF
Price / SF$256.73
Days on Market300
Property Features for 1107-1105 E 32nd St
General Information
Standard status
Active
Size
2,489 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
private yard
Building Details
Buildings
1
Listing Agency:
Seabolt Real Estate
Listed By:
Taavo Roos · License #382783
(912) 429-6729
Source:
Exprealty
Added: Nov 7, 2025
Changed: Sep 2
Last Checked: Sep 2 at 2:29AM
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 Seabolt Real Estate
Investment Insights
Based on property information with market context.
This 2,489-square-foot duplex contains two spacious residences, each with three bedrooms and two full bathrooms. The property was rebuilt from the studs and includes new plumbing, electrical service, roofing, and HVAC systems. Interior details include hardwood floors, custom wallpaper, designer finishes, and high ceilings across both units.
A large private yard extends behind the building, providing additional outdoor space. The property is located at 1107-1105 E 32nd St in Savannah, Georgia.
A large private yard extends behind the building, providing additional outdoor space. The property is located at 1107-1105 E 32nd St in Savannah, Georgia.
Key Highlights
- Two‑unit duplex with 2,489 square feet
- Each unit offers 3 bedrooms and 2 full bathrooms
- Rebuilt from the studs with new plumbing, electrical, roof, and HVAC systems
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
$26,391
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
4.13%
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%
$527,820
$527.8K
Cap Rate 7%
$377,014
$377.0K
Cap Rate 9%
$293,233
$293.2K
Market Conditions
NOI Build-Up for 2,489 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
$40.3K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.7K $15.15/SF
− OpEx
−$11.3K −$4.54/SF
NOI
$26.4K $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%
$527,820
Cap Rate 7%
$377,014
Cap Rate 9%
$293,233
Alternative Uses
Best Use
Multifamily LT 5
$377.0K
$329.9K – $439.9K
NOI $26,391 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$349.6K
$305.9K – $407.9K
NOI $24,474 @ 7.0% cap · market cap 3.83%
Theoretical Best
Warehouse
$2.33M
$2.04M – $2.71M
NOI $162,829 @ 7.0% cap · market cap 25.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
475
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 three-bedroom units feature updated systems and high-end interior finishes.
Where is this duplex located?
The property is located at 1107-1105 E 32nd St Savannah, GA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,489 square feet; Each unit offers 3 bedrooms and 2 full bathrooms; Rebuilt from the studs with new plumbing, electrical, roof, and HVAC systems
