111 W 48th Street Savannah, GA 31405
MULTI_FAMILY - Savannah, GA
Property Features for 111 W 48th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RIP
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
- Appliances
- Electric Water Heater
- Standard status
- Active Under Contract
- APN
- 2008803009
- Size
- 984 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Description
- LT 11 + THE E 10 FT OF LT 12 WRI GHT WD
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 1
- Number of units
- 2
Listing agent Taavo Roos License #382783 (912) 429-6729
Listing office Seabolt Real Estate 24 E Oglethorpe Avenue, Savannah, GA (912) 233-6609
Listing date Jun 19, 2026
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.
The building is located in the Midtown/Starland corridor of Savannah, GA 31405. The listing notes walkability to the Starland District restaurants, shops, and entertainment, along with convenient access to downtown Savannah and nearby institutions including SCAD, Memorial Health, and the Truman Parkway.
From an occupancy standpoint, the duplex is positioned as turnkey, with both residences currently occupied per the provided remarks. The offering is described as generating $3,200 per month in rental income, or $38,400 annually, based on the stated figures. With renovated interiors in place, the property may appeal to buyers seeking an income-producing duplex in a two-unit format where separate living spaces are already set up for tenant use.
Key Highlights
- Fully leased duplex with two 1‑bedroom, 1‑bath residences generating $3,200/month ($38,400/year).
- Asking price: $359,000 for a producing, leased income property.
- Each unit has been renovated with updated kitchens and modern finishes, plus durable flooring and exposed brick accents.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.9k | $16.20 |
| − Vacancy | −$1.0k | −$1.05 |
| EGI | $14.9k | $15.15 |
| − OpEx | −$4.5k | −$4.54 |
| NOI | $10.4k | $10.60 |
