Duplex with Hardwood
For Sale
$350,000
1111 E 35 Street, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size2,756 SF
Lot Size0.17 Acres
Price / SF$126
Days on Market73
Property Features for 1111 E 35 Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RSF5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
Patio and Porch features
Porch
Fencing
Fenced
Fireplace
1
Appliances
Electric Water Heater
Lot features
Alley
Directions
Waters Ave & 35th Street, East on 35th.
Standard status
Active
APN
20063 03003
Size
2,756 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Lot 61 & E 25 feet of lot 60, Oliver Ward
Legal Description
Lot 61 & E 25 feet of lot 60, Oliver Ward
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
fireplace
original hardwood floors
high ceilings
fenced back yards
off street parking
sunroom
walk out front balcony
Building Details
Year built
1925
Floors in Building
2
Flooring type
Hardwood
Building materials
Frame
Roof type
Metal
Architectural style
Other
Listing Agency:
Savannah Home Realty
(912) 655-5827
Listed By:
David W. Wessel · License #293276
(912) 655-3844
Added: Jul 21
Changed: Sep 20
Last Checked: Oct 1 at 9:06PM
MLS# SA360536
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 2,756-square-foot duplex, built in 1925, contains two two-bedroom, one-bath units, each with a sunroom that can serve as flexible additional space. Interior details include hardwood flooring, high ceilings, fireplaces in both living rooms, and frame construction. The upstairs residence also includes a front balcony. A metal roof, central electric heating and cooling, public water, and public sewer support the property’s existing configuration.
Set on 0.17 acres at 1111 E 35 Street in Savannah, the property includes off-street parking and separate fenced rear yards. The location is near the Waters Avenue corridor and within walking distance of a bookstore, cafes, and restaurants. RSF5 zoning applies to the property.
Set on 0.17 acres at 1111 E 35 Street in Savannah, the property includes off-street parking and separate fenced rear yards. The location is near the Waters Avenue corridor and within walking distance of a bookstore, cafes, and restaurants. RSF5 zoning applies to the property.
Key Highlights
- 2,756‑square‑foot duplex on a 0.17‑acre lot
- Two units, each with 2 bedrooms and 1 bathroom
- Each unit includes a sunroom and living room fireplace
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
$29,222
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
8.35%
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%
$584,440
$584.4K
Cap Rate 7%
$417,457
$417.5K
Cap Rate 9%
$324,689
$324.7K
Market Conditions
NOI Build-Up for 2,756 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
$44.6K $16.20/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$41.7K $15.15/SF
− OpEx
−$12.5K −$4.54/SF
NOI
$29.2K $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%
$584,440
Cap Rate 7%
$417,457
Cap Rate 9%
$324,689
Alternative Uses
Best Use
Multifamily LT 5
$417.5K
$365.3K – $487.0K
NOI $29,222 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.7K
NOI $27,099 @ 7.0% cap · market cap 7.74%
Theoretical Best
Warehouse
$2.58M
$2.25M – $3.00M
NOI $180,296 @ 7.0% cap · market cap 51.51%
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
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 residential units feature spacious interiors, private fenced yards, and off-street parking near Savannah’s Waters Avenue corridor.
Where is this duplex located?
The property is located at 1111 E 35 Street Savannah, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,756‑square‑foot duplex on a 0.17‑acre lot; Two units, each with 2 bedrooms and 1 bathroom; Each unit includes a sunroom and living room fireplace
